Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 450

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 450
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 are subject to our directors and officers insurance policy. Our executive officers are eligible for bonuses each year. The bonuses will be payable upon meeting objectives and targets that are set annually by the NLS Board and compensation, nomination and governance committee, and, in certain circumstances, upon approval by our shareholders. Upon the closing of the Merger, all NLS employment agreements will be terminated. NLS may enter into consulting agreements with Mr.Zwyer and Mr.Konofal and are discussing the terms of such consulting relationships or agreements. Alexander Zwyer Employment Agreement On April 9, 2021, we entered into a new employment agreement with Mr. Zwyer, effective as of May 1, 2021, relating to his service as our Chief Executive Officer. Pursuant to his employment agreement, we have agreed to pay Mr. Zwyer a base annual salary of CHF 410,400, and a bonus payment, subject to the discretion of the Board. The employment agreement also provides that either party may terminate the employment agreement with 12 months’ prior notice, and that Mr. Zwyer will be subject to a 12 -monthnon -competitionand non -solicitationclauses. The employment agreement also provides for standard confidentiality provisions as well as reimbursement for certain expenses. Eric Konofal Consulting Agreement In February 2021, we entered into a consulting agreement with Mr. Eric Konofal, our current Chief Scientific Officer, pursuant to which we agreed to pay Mr. Konofal a daily rate of CHF 2,000 for his services. The consulting agreement may be terminated by either party upon 30 days’ written notice or immediately by us in the event of a material breach by Mr. Konofal that cannot be cured. The consulting agreement contains customary confidentiality provisions and provides for an 18 -monthnon -solicitationclause as well as reimbursement for certain expenses. NLS entered into a new consulting agreement starting July 1, 2021, for the continuation of Mr. Konofal’s engagement with NLS in his current role. Upon the Closing of the Merger, Mr. Zwyer’s and Mr. Apostol’s employment agreements and Mr. Konofal’s consulting agreement shall be terminated. NLS and Kadimastem have not reached agreements with the individuals above regarding their future employment or consulting relationship with the combined company. However, NLS and Kadimastem may enter into consulting agreements with Mr. Zwyer and Mr. Konof