Company: NCL
Filing Date: 2025-12-04
Form Type: 424B3
Source: 0001575872-25-000746
Chunk: 29

Company: Northann Corp.
Filing Date: 2025-12-04
Form: 424B3
Chunk 29
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 their service as a director or officer.

Section 78.751 of the NRS
also permits a Nevada corporation to indemnify its officers and directors against expenses incurred by them in defending a civil or criminal
action, suit, or proceeding as they are incurred and in advance of final disposition thereof, upon receipt of an undertaking of the director
or officer to repay the amount if it is ultimately determined by a court of competent jurisdiction that the director or officer is not
entitled to be indemnified by the corporation. Section 78.751 of the NRS further permits the corporation to grant its directors and officers
additional rights of indemnification under its articles of incorporation, bylaws, or other agreement. Our bylaws generally provide for
indemnification of our directors and officers to the fullest extent permitted under Nevada law and require that we pay such expenses
upon receipt of such an undertaking.

Section 78.752 of the NRS
provides that a Nevada corporation may purchase and maintain insurance or make other financial arrangements on behalf of any person who
is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director,
officer, employee or agent of another company, partnership, joint venture, trust or other enterprise, for any liability asserted against
him and liability and expenses incurred by him in his capacity as a director, officer, employee or agent, or arising out of his status
as such, whether or not the corporation has the authority to indemnify him against such liability and expenses. Our bylaws implement
the insurance provisions above by providing that our board of directors may direct that we purchase and maintain insurance on behalf
of our directors and officers.

The limitation of liability
and indemnification provisions in our articles of incorporation and our bylaws may discourage stockholders from bringing a lawsuit against
our directors for breach of their fiduciary duty. They may also reduce the likelihood of derivative litigation against our directors
and officers, even though an action, if successful, might benefit us and other stockholders. Furthermore, a stockholder’s investment
may be adversely affected to the extent that we pay the costs of settlement and damage awards against directors and officers as required
by these indemnification provisions.

Insofar as indemnification
for liabilities arising under the Securities Act of 1933, as amended (the “Securities Act”), may be permitted to our directors,
officers and controlling persons under the foregoing provisions of our articles of incorporation or our by