Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 235

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 235
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 Directors and Officers in the Merger NLS’s directors and executive officer 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’ officers and directors will go into effecting, including: •Mr.Twito’s annual salary of USD 370,188 (including social benefits) which will increase to USD 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; and •Each director on the board of NLS (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 exercised 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 1,371,052shares of Kadimastem, and Ronen Twito, Executive Chairman and Chief Executive Officer, or CEO, of Kadimastem, and beneficial owner of 367,332 of Kadimastem,