Company: NCL
Filing Date: 2025-12-04
Form Type: DEF 14A
Source: 0001575872-25-000744
Chunk: 23

Company: Northann Corp.
Filing Date: 2025-12-04
Form: DEF 14A
Chunk 23
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 Board and committees; |
| ● | making recommendations to our Board regarding the size of the Board,                                        
 the tenure and classifications of directors, and the composition of the committees of the Board;            |
| ● | considering other corporate governance and related matters as requested                                     
 by our Board; and                                                                                           |
| ● | reviewing and evaluating the performance of the Nominating and Corporate                                    
 Governance Committee, including compliance with its charter.                                                |

Compensation of Non-Employee Directors

Currently, our non-employee
directors receive a cash and equity compensation on a yearly basis, payable each quarter. Mr. Lalonde receives $20,000 in cash and $30,000
in equity, payable each quarter. Each of Messrs. Patel and Zhang receives $15,000 in cash and $25,000 in equity, payable each quarter.
In addition, we reimburse all of our non-employee directors for travel and other necessary business expenses incurred in the performance
of director services and extend coverage to them under our directors’ and officers’ indemnity insurance policies.

Compensation of Employee Directors

Messrs. Li and Winn were
compensated as full-time employees and officers and therefore received no additional compensation for service as members of the Board
during 2024. Information regarding the compensation awarded to Messrs. Li and Winn are included in “Executive Compensation and
Related Information—Summary Compensation Table” below.

Compensation Committee Interlocks and Insider Participation

Since the Company’s
initial public offering, all officer compensation and bonuses for executive officers has been determined by our Compensation Committee
which is currently comprised of three independent directors.

None of our executive officers
serves, or in the past has served, as a member of our Board or Compensation Committee, or other committee serving an equivalent function,
of any entity that has one or more executive officers serving as members of our Board or our Compensation Committee. None of the members
of our Compensation Committee is or has been an officer or employee of the Company.

Stockholder Recommendations for Nominations to our Board of Directors

Our Nominating and Corporate
Governance Committee will consider recommendations for candidates to our Board from our stockholders. A stockholder that wishes to recommend
a candidate for consideration by the committee as a potential candidate for director must direct the recommendation in writing to Northann
Corp., 2251 Catawba River Rd, Fort Lawn, SC 29714, Attention: Corporate Secretary, and must include the candidate’s name, home
and business contact information,