Company: NCL
Filing Date: 2025-12-04
Form Type: DEF 14A
Source: 0001575872-25-000744
Chunk: 14

Company: Northann Corp.
Filing Date: 2025-12-04
Form: DEF 14A
Chunk 14
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 in accountant standards used.

We are also a “smaller
reporting company” as that term is defined in Rule 12b-2 promulgated under the Exchange Act. If we are still a smaller reporting
company at the time we cease to be an emerging growth company, we may continue to rely on exemptions from certain disclosure requirements
that are available to smaller reporting companies. Specifically, as a smaller reporting company, we may choose to present only the two
most recent fiscal years of audited financial statements in our Annual Report on Form 10-K and, similar to emerging growth companies,
smaller reporting companies have reduced disclosure obligations regarding executive compensation.

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<div align='center'>PROPOSAL ONE

ELECTION OF DIRECTORS</div>

Our bylaws provide for a
number of directors fixed by resolution of the whole Board. Our Board has fixed the number of directors at five unless otherwise changed
by resolution of our Board. Directors are elected annually and hold office until the next annual meeting of stockholders and/or until
their respective successors are duly elected and qualified. It is intended that the proxies solicited by our Board will be voted “FOR”
election of the following five nominees unless a contrary instruction is made on the proxy: Lin Li, Kurtis W. Winn, Bradley C. Lalonde,
Umesh Patel, and Jing Zhang. If the five nominees are elected, there will be five directors serving on our Board. If, for any reason,
one or more of the nominees is unavailable as a candidate for director, an event that is not expected, the person named in the proxy
will vote for another candidate or candidates nominated by our Nominating and Corporate Governance Committee. However, under no circumstances
may a proxy be voted in favor of a greater number of persons than the number of nominees named above.

Required Vote of Stockholders

The five nominees receiving
the highest number of affirmative votes of the outstanding shares of our common stock and Series A Preferred Stock, present at the Annual
Meeting in person or by proxy and entitled to vote, will be elected as directors to serve until the next annual meeting of stockholders
and/or until their successors are duly elected and qualified. Votes against a candidate, abstentions and broker non-votes will be counted
for purposes of determining whether a quorum is present for this proposal, but will not be included in the vote totals for this proposal
and, therefore, will have no effect on the vote.

Recommendation of the Board of Directors

OUR BOARD