Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 286

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 286
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 not and do not purport to be appraisals or otherwise reflective of the prices at which businesses actually could be acquired or sold. The analyses necessarily involve complex considerations and judgments concerning differences in financial and operational characteristics of the companies involved and other factors that could affect the companies compared to the Companies. Interests of NLS’s and Kadimastem’s Directors and Officers in the Merger NLS’s directors and executive officers do not have interests in the Merger except for the fact that: Mr.Alexander Zwyer will continue to be a director of the combined company after the Effective Time of the Merger for a period of 12months. Mr.Eric Konofal will continue to be a part -timeofficer of the combined company after the Effective Time of the Merger. In addition, as of the Closing, NLS shall, at Kadimastem’s expense (up to a maximum of $200,000), obtain a “run -off” prepaid directors’ and officers’ liability insurance policy for the benefit of NLS’s current and former officers and directors, effective as of the Closing, with a reporting period of six (6) years after the Closing, covering events, acts and omissions occurring before the Closing Date, and with coverage and amounts, and terms and conditions that are acceptable to NLS. The premium for such policy (up to a maximum of $200,000) shall be paid by Kadimastem on or prior to the Closing, and NLS shall take all necessary actions, and not fail to take any action, to prevent the cancellation of such policy during its term. Additionally, following the Merger, several agreements related to compensation for NLS’s officers and directors will go into effect, including: •The annual salary of Mr.Ronen Twito, Executive Chairman and CEO of Kadimastem of $370,188 (including social benefits) will increase to $413,743 upon the combined company completing a capital raise greater than $10million following the Merger and a bonus payment, subject to the discretion of the board of directors. Under the employment agreement with Kadimastem, Mr.Twito received 157,995 RSUs to be settled into such number of Kadimastem Ordinary Shares as provided under the agreement, vested over a two -yearperiod. The agreement includes acceleration provisions including at the Closing of the Merger. At the Closing of the Merger the unvested RSUs convert into RSUs of NLS, in accordance with the