Company: NCL
Filing Date: 2025-12-04
Form Type: 424B3
Source: 0001575872-25-000746
Chunk: 68

Company: Northann Corp.
Filing Date: 2025-12-04
Form: 424B3
Chunk 68
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; providing for, without limitation, certain payments upon termination and change in control. See “Executive Compensation–Employment
Agreements” in this Proxy Statement for a further discussion of these agreements.

Indemnification of Officers and Directors

Our articles of incorporation
and our bylaws provide that we will indemnify our directors and officers with respect to certain liabilities, expenses and other accounts
imposed upon them because of having been a director or officer, except in certain cases. In addition, we have entered into indemnification
agreements with each of our directors and executive officers.

Other Transactions with Related Parties

During
the fiscal years ended December 31, 2024 and 2023, Lin Li, our Chairman of the Board, Chief Executive Officer, President, Secretary,
and Treasurer, provided unsecured, due on demand, and interest free loans to the Company’s subsidiaries in a total of $1,062,551
and $118,883 respectively, for the Company’s subsidiaries’ working capital purposes. As of December 31, 2024, the amount
due to Lin Li was $2,565,494.

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EB-5 Loan Agreement

On January 21, 2025, 3D PRINTING entered into
an EB-5 loan agreement (the “Loan Agreement”) with 3DFLOR OPPORTUNITY, LP, a Delaware limited partnership and a related party
controlled by the Company’s CEO, Chairman and controlling shareholder, Lin Li (“3DFLOR”), pursuant to which 3DFLOR
agreed to provide 3D PRINTING a loan, with an initial maximum principal amount of $24,000,000 at an interest rate of 1.00% per year.
The loan shall be secured by a pledge of all 49 million Class A Units of 3D PRINTING, and a promissory note. Subject to certain conditions
as set out under the Loan Agreement being fulfilled, 3DFLOR would make an initial advance to 3D PRINTING. The amount of such initial
advance would be as requested by 3D PRINTING. Subsequently, subject to certain restrictions, requests for further advances may also be
made from time to time by 3D PRINTING. The closing date of the Loan Agreement shall be the date on which the initial advance is received
by 3D PRINTING, and the maturity date of the loan under the Loan Agreement is the third anniversary of the closing date,