Company: NCL
Filing Date: 2025-12-04
Form Type: 424B3
Source: 0001575872-25-000746
Chunk: 65

Company: Northann Corp.
Filing Date: 2025-12-04
Form: 424B3
Chunk 65
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000 |

(1) Mr. Kratochvil serves as the Chief Financial Officer of the Company
effective on July 14, 2023. On April 15, 2024, Mr. Kratochvil resigned as the CFO.

(2) On April 15, 2024, Mr. Prasad was appointed as the interim CFO
of the Company.

| 37 |

Employment Agreements

Agreement with Lin Li

Mr. Li entered into an employment
agreement with Northann Corp. 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 Northann Corp., 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 may be terminated upon either party’s failure to renew the agreement, by Northann Corp.
for or without cause or by Mr. Li with or without good reason. In addition, the agreement may be terminated by either party at any time
and for any reason with at least 30 days’ prior written notice.

Agreement with Kurtis W. Winn

Mr. Winn entered into an
employment agreement with Northann Corp. on July 1, 2022. Pursuant to the employment agreement, Mr. Winn serves as the Chief Operating
Officer and a director of Northann Corp., and is entitled to receive a base salary at an annual rate of US$100,000 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 may be terminated upon either party’s failure to renew the agreement, by Northann Corp. for or without cause or by
Mr. Winn with or without good reason. In addition, the agreement may be terminated by either party at any time and for any reason with
at least 30 days’ prior written notice.

Grants of Plan-Based Awards – 2024

During the year ended December
31, 2024, we did not grant any options to purchase shares of common stock to our named executive officers.

Outstanding Equity Awards at Fiscal Year-End –2024

On
May 30, 2023, the Company adopted the 2023 Plan,