Company: NCL
Filing Date: 2025-11-24
Form Type: PRE 14A
Source: 0001575872-25-000718
Chunk: 27

Company: Northann Corp.
Filing Date: 2025-11-24
Form: PRE 14A
Chunk 27
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 not opposed to the best interests of the corporation, or that, with respect to any criminal action or proceeding, had reasonable
cause to believe that the conduct was unlawful.

| 14 |

Section 78.7502.2 of the
NRS also permits a Nevada corporation to indemnify its directors and officers against expenses, judgments, fines, and amounts paid in
settlement actually and reasonably incurred in connection with a threatened, pending, or completed action, suit, or proceeding by or
in the right of the corporation to procure a judgment in its favor, if the officer or director (i) is not liable pursuant to NRS 78.138,
or (ii) acted in good faith and in a manner the officer or director reasonably believed to be in or not opposed to the best interests
of the corporation and, if a criminal action or proceeding, had no reasonable cause to believe the conduct of the officer or director
was unlawful. Indemnification pursuant to this section may not be made for any claim, issue, or matter as to which such a person has
been adjudged by a court of competent jurisdiction, after exhaustion of any appeals taken therefrom, to be liable to the corporation
or for amounts paid in settlement to the corporation, unless and only to the extent that the court in which the action or suit was brought
or other court of competent jurisdiction determines upon application that in view of all the circumstances of the case, the person is
fairly and reasonably entitled to indemnity for such expenses as the court deems proper.

Discretionary indemnification
pursuant to Section 78.7502.1 or Section 7502.2, unless ordered by a court or advanced pursuant to NRS 78.7501.2, may be made only as
authorized upon a determination that the indemnification is proper under the circumstances. The determination that indemnification is
proper under the circumstances may be made by the stockholders, the board of directors by majority vote of a quorum consisting of directors
who were not parties to the action, suit, or proceeding, or opinion of independent counsel if a majority vote of a quorum consisting
of directors who were not parties to the action, suit, or proceeding so orders, or a quorum consisting of directors who were not parties
to the action, suit, or proceeding cannot be obtained.

Section 78.751 of the NRS
requires a corporation to indemnify its officers and directors if they have been successful on the merits