Company: NCL
Filing Date: 2025-10-24
Form Type: S-1/A
Source: 0001575872-25-000638
Chunk: 75

Company: Northann Corp.
Filing Date: 2025-10-24
Form: S-1/A
Chunk 75
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 30,000 |     |        | - |     |                | - |     |              | - |     |              | - |     |       | 50,000 |
| Umesh Patel (1)               |     |         |  9,058 |     |        | 18,750 |     |        | - |     |                | - |     |              | - |     |              | - |     |       | 27,808 |
| Jing Zhang (2)                |     |         |      - |     |        |      - |     |        | - |     |                | - |     |              | - |     |              | - |     |       |      - |
| Charles James Schaefer IV (3) |     |         | 12,500 |     |        | 18,750 |     |        | - |     |                | - |     |              | - |     |              | - |     |       | 31,250 |
| Scott Powell (4)              |     |         | 20,000 |     |        | 30,000 |     |        | - |     |                | - |     |              | - |     |              | - |     |       | 50,000 |

(1) Umesh Patel was appointed as our independent director on May 23,
2024.

(2) Jing Zhang was appointed as our independent director on December
31, 2024.

(3) Charles James Schaefer IV resigned as an independent director on
May 17, 2024.

(4) Scott Powell’s term ended our 2024 annual general meeting
of shareholders (“AGM”) held on December 31, 2024 on December 31, 2024.

Employment Agreements with Executive Officers and Employee Director

We have entered into
employment agreements with each of our executive officers.

Agreement with Lin Li

Mr. Li entered into an
employment agreement with the Company on July 1, 2022. Pursuant to the employment agreement, Mr. Li serves as the Chairman of the Board,
Chief Executive Officer, President, Treasurer and Secretary of the Company, and is entitled to receive a base salary at an annual rate
of US$120,000 and any bonus, equity awards as the board of directors and/or the compensation committee may determine. The employment agreement
is for a term of three years. The agreement