Company: NCL
Filing Date: 2025-01-29
Form Type: S-1/A
Source: 0001575872-25-000097
Chunk: 75

Company: Northann Corp.
Filing Date: 2025-01-29
Form: S-1/A
Chunk 75
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 time at locations where they operate their
businesses or where they are located. Failure to make adequate contributions to various employee benefit plans may be subject to fines
and other administrative sanctions. Each of the PRC subsidiaries has established employee benefit plans and has made adequate contributions
to such plans as required by law.

Equity Incentive Plan

On May 30, 2023, the
Company adopted the 2023 Equity Incentive Plan, or the 2023 Plan, for the purpose of granting share-based compensation awards to current
or prospective employees, directors, officers, advisors or consultants of the Company or its affiliates and align their interests with
ours. On December 31, 2024, the Company’s stockholders approved an amendment to the 2023 Plan to increase the the maximum aggregate
number of shares of common stock which may be issued pursuant to all awards under the 2023 Plan from 4,000,000 12,000,000.

The following table sets
forth information concerning outstanding equity awards of the Company for each of the named executive officers as of the end of the fiscal
year ended December 31, 2024.

<div align='center'>Outstanding Equity Awards at 2024 Fiscal Year-End</div>

|                        |     | Option Awards |     |               |     |          |     |            |     | Stock Awards   |     |                 |
| Name                   |     | Number of     
 Securities    
 Underlying    
 Unexercised   
 Options (#)   
 Exercisable   |     | Number of     
 Securities    
 Underlying    
 Unexercised   
 Options (#)   
 Unexercisable |     | Option   
 Exercise 
 Price    
 ($)      |     | Option     
 Expiration 
 Date       |     | Number of      
 Shares or      
 Units of Stock 
 That Have Not  
 Vested (#)     |     | Market Value of 
 Shares or Units 
 of Stock That   
 Have Not        
 Vested ($)      |
| Lin Li                 |     | -             |     | -             |     | -        |     | -          |     | -              |     | -               |
| Sunny S. Prasad(1)     |     | -             |     | -             |     | -        |     | -          |     | -              |     | -               |
| David M. Kratochvil(2) |     | -             |     | -             |     | -        |     | -