Company: NCL
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001575872-25-000134
Chunk: 78

Company: Northann Corp.
Filing Date: 2025-02-07
Form: 424B3
Chunk 78
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 otherwise transferred or encumbered by a participant other than by will or by the laws of descent
and distribution. The Committee, however, may permit awards (other than incentive stock options) to be transferred to family members,
a trust for the benefit of such family members, a partnership or limited liability company whose partners or stockholders are the participant
and his or her family members or anyone else approved by it.

Amendment.

The board of directors
may amend, suspend or terminate the 2023 Plan at any time; however, stockholder approval to amend the 2023 Plan may be necessary if the
law or the rules of the national exchange so requires. No amendment, suspension or termination will impair the rights of any participant
or recipient of any award without the consent of the participant or recipient.

Change in Control.

Except to the extent
otherwise provided in an award agreement or as determined by the Committee in its sole discretion, in the event of a change in control,
all outstanding options and equity awards (other than performance compensation awards) issued under the 2023 Plan will become fully vested
and performance compensation awards will vest, as determined by the Committee, based on the level of attainment of the specified performance
goals.

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<div align='center'>SELLING STOCKHOLDERS</div>

Unless the context otherwise requires, as used
in this prospectus, “selling stockholders” includes the selling stockholders listed below and donees, pledgees, transferees
or other successors-in-interest selling shares received after the date of this prospectus from the selling stockholder as a gift, pledge
or other non-sale related transfer.

The shares of common stock being offered by the
selling stockholders are those issued to the selling stockholders. We are registering the shares of common stock in order to permit the
selling stockholders to offer the shares for resale from time to time. The selling stockholders have not had any material relationship
with us within the past three years.

The table below lists the selling stockholders
and other information regarding the beneficial ownership (as determined under Section 13(d) of the Securities Exchange Act of 1934, as
amended, and the rules and regulations thereunder) of the shares of common stock held by the selling stockholders. The second column lists
the number of shares of common stock beneficially owned by the selling stockholders, based on its beneficial ownership of shares of common
stock. The third column lists the shares of common stock being offered by