Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 113

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 113
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 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 14 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 terms of the Merger Agreement. Under the employment agreement, upon the Closing of the Merger, Mr.Twito shall also be entitled to a bonus equal to the NIS equivalent of $100,000; •Mr.Kfir Molakandov’s, Kadimastem’s VP of Research and Development, annual salary will increase to a NIS amount equivalent to $173,333, including social benefits; •Mr.Ariel Revel’s, Director of Medical Affairs of Kadimastem, annual salary will increase to a NIS amount equivalent to $86,667, including social benefits; and •Each director on the NLS Board (1) shall receive an annual amount of $25,000, payable quarterly, and a one -timeoption grant equal to 0.2% of the outstanding NLS Common Shares, with the initial vesting over three (3) years, with an exercise price equal to the market price at the Closing; and (2) will enter into indemnification agreements between NLS and members of the board of directors. Additionally, Prof. Michel Revel, MD, Director and Chief Scientific Officer of Kadimastem and the beneficial owner of 1,315,107 Kadimastem Ordinary Shares as of July 9, 2025, and Ronen Twito, Executive Chairman and CEO of Kadimastem, and beneficial owner of 367,332 Kadimastem Ordinary shares as of July 9, 2025, will benefit directly from the exchange of their Kadimastem Ordinary Shares in exchange for NLS Common Shares resulting from the Merger. Treatment of Kadimastem and Kadimastem’s Equity Awards and Award Plan (Page 145) At the Effective Time each option, restricted share