Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 347

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 347
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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. Konofal and are discussing the terms of such consulting relationships or agreements in connection with their service following the Merger. Kadimastem Ronen Twito Employment Agreement On January30, 2025, Kadimastem updated the employment agreement with Mr.Twito, to serve as the CEO and Chairman of Kadimastem. Kadimastem agreed to pay Mr.Twito an 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 $10million following the Merger (a “Trigger Financing”) and a bonus payment, subject to the discretion of the Board. The employment agreement also provides that either party may terminate the employment agreement with 9months’ prior notice, 3 -monthadoption period, and that Mr.Twito will be subject to a 12 -monthnon -competitionand non -solicitationclauses. The employment agreement also provides for standard confidentiality provisions as well as reimbursement for certain expenses. 189 Michel Revel Employment Agreement On January30, 2025, Kadimastem entered into a Service Agreement with Dr. Michel Revel, to serve as the Chief Scientist of the company. The Service Agreement did not involve any salary. In accordance with the Services Agreement, the Company directly bears the flight expenses and expenses for Prof. Revel’s stay abroad in the framework of providing services to Kadimastem. Once a year, the Compensation Committee will discuss the reasonableness of the business expenses incurred by the Company as stated, with no ceiling set for these expenses. In addition, Prof. Revel is entitled to full reimbursement of reasonable business expenses (including transportation, accommodation, food, etc.), which will be made in accordance with the Company’s accepted procedures and in a maximum amount of NIS 150,000 ($