Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 101

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 101
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 as 20% of the proceeds from the sale of sub-licenses by the Company. In case the Company is            
 obligated to pay royalties to another party in connection with the same product, the aforementioned royalty rate shall be reduced to 3.5%    
 and 15%, respectively.                                                                                                                       |

In May 2013, the Company signed an amendment
to the agreement. According to the amendment, the third party would perform research for the Company for another four years in accordance
with a predetermined research plan in exchange for a payment of USD $480 thousand. In addition, the Company would pay royalties equal
to 5% of the Company’s revenues from product sales and the provision of drug scanning services, and 20% of the proceeds from the
sale of sublicenses by the Company, as well as royalties at rates ranging from 2% to 7.5% for the sale of drug scanning products and additional
receipts that the Company would receive from these products. In case the Company is obligated to pay royalties to another party in connection
with the same product, the aforementioned royalty rate shall be reduced to 3.5%, 15%, and a rate ranging from 1.4% to 5.25%, respectively.

On January 19, 2016, the Company entered
into an addendum to the agreement with the third party, under which the Company would receive a non-exclusive license to use stem cells
for the production of a cell therapy for ALS. The license also included scientific research to be carried out in third-party research
laboratories.

<div align='center'>F-29</div>

On March 24, 2020, the Company entered
into an addendum to the agreement with the third party under which all the Company’s contracts became a non-exclusive license to
use stem cells to create a cell therapy. In return, the rate of all royalties was reduced to 4% (compared to 5%) of product sales for
a period of 15 years from the start of sales, and the payment for sublicenses was reduced to 15% (compared to 20%), provided that it does
not fall below 1.25% of the sales. Since the Company has an agreement to pay royalties to an additional third party, in this case the
royalty rates would be reduced from 4% to 2% of the product sales, and the payment for the sub-licenses would be reduced to 10%. In addition,