Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 453

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 453
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 License Agreement, the Company agreed to pay Aexon a royalty on a country -by-countrybasis of 5% to 30% depending on (i) earnings by the Company in a specified region or country for licensed products covered by patents, (ii) whether the applicable patent has not been granted to the applicable product at the time of commercialization of such product and (iii) whether the Company challenges the validity of a patent. As of June 20, 2025, Alexander Zwyer owns 35% of Aexon, and Eric Konofal owns 59% of Aexon. Mr. Konofal is the founder of Aexon, with which we have a license agreement, and also serves as the President of Aexon. Mr. Zwyer holds no board or executive position at Aexon Labs. We made an upfront payment of $30,000 for the option exclusivity and $170,000 upon execution of the definitive agreement to exercise the option for the License Agreement, of which $40,000 was paid in cash and the remaining $130,000 was paid in 23,028 NLS Common Shares. In addition, Aexon will receive 15% of all proceeds earned by us in any future sub -licensingagreements. We must also make royalty payments to Aexon upon the occurrence of certain milestones. Such payments upon the occurrence of milestones contemplated in the License Agreement range from $100,000 to $300,000, in addition to percentage royalty payments ranging from 5% to 15% which may decrease or increase up to 30% if we challenge the validity of the patents under the agreement, depending on the result of such challenge. Further, pursuant to the License Agreement, we agreed to pay Aexon a percentage of license fees, milestones and royalties received from sublicensees, ranging between 5% and 15% which may decrease or increase 260 up to 30% if we challenge the validity of the patents under the agreement, depending on the result of such challenge. In January 2025 through April 2025, we paid $50,000 in consideration for 50% of the proof of concept first milestone under the License Agreement. Debt Conversion During the month of October 2024, we entered into Debt Forgiveness Agreements with certain lenders, including Alexander Zwyer, Ronald Hafner, Eric Konofal, Florence Allouche Aknin, Audrey Greenberg and Gian -MarcoRinaldi