Company: NCL
Filing Date: 2025-12-04
Form Type: 424B3
Source: 0001575872-25-000746
Chunk: 63

Company: Northann Corp.
Filing Date: 2025-12-04
Form: 424B3
Chunk 63
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 is internally                                                               
 equitable, competitive and influenced by company and individual performance.                                                          |

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During 2024, compensation
of our executive officers was comprised of base salary, non-equity incentives in the form of cash bonuses, and long-term equity incentives.
The cash bonus amounts paid to our executive officers during 2024, as set forth below in “– Summary Compensation Table,”
were approved by our Compensation Committee and were based on a variety of factors regarding our performance during 2024.

Compensation Philosophy

Our compensation philosophy
and objectives are as follows:

| ● | to align the interests of our executive officers with those                                                                           
 of our stockholders and incent our executive officers to attain our short- and long-term financial and business goals;                |
| ● | to ensure that our executive compensation structure and total compensation                                                            
 is fair, reasonable and competitive in the marketplace so that we can attract and retain highly qualified personnel in key positions; 
 and                                                                                                                                   |
| ● | to provide an executive compensation structure and total compensation                                                                 
 that are internally equitable based upon each executive officer’s role and responsibilities.                                          |

Our Compensation Committee
seeks to make executive compensation decisions that embody this philosophy and that are directed towards attaining these objectives.

In implementing our compensation
philosophy and objectives, our Compensation Committee reviews and analyzes each executive position, including the importance and scope
of the role and how the position compares to other Northann Corp. executive officers. With respect to setting base salaries, our Compensation
Committee also compares these positions to similar positions at a number of publicly traded companies listed on the New York Stock Exchange
(“NYSE”) and Nasdaq that are engaged in the power manufacturing and design industry.

We believe that structuring
our executive officer compensation program to align the interests of our executive officers with our interests and those of our stockholders,
and properly incenting our executive officers to attain our short- and long-term business goals, best serves the interests of our stockholders
and creates stockholder value. We believe this occurs through motivating our executive officers to attain our short- and long-term business
goals and retaining these executive officers by providing compensation opportunities that are competitive in the marketplace.

Compensation Governance Practices

Listed below are some key
examples of our compensation governance practices that are intended to align the interests of our executive officers with our stockholders,
incent the attainment of short- and long-term business objectives and retain highly qualified executive officers:

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| ● | Linkage of annual