Company: NTWK
Filing Date: 2025-04-16
Form Type: PRE 14A
Source: 0001641172-25-005001
Chunk: 23

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-04-16
Form: PRE 14A
Chunk 23
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 due to the likelihood that their independence would be impaired.

Any approval required under the policy must be
given by the Audit Committee, by the Chair of the Committee in office at the time, or by any other Committee member to whom the Committee
has delegated that authority. The Audit Committee does not delegate its responsibilities to approve services performed by the independent
auditors to any member of management.

The standard applied by the Audit Committee in
determining whether to grant approval of an engagement of the independent auditors is whether the services to be performed, the compensation
to be paid therefore and other related factors are consistent with the independent auditors’ independence under guidelines of the
Securities and Exchange Commission and applicable professional standards. Relevant considerations include, but are not limited to, whether
the work product is likely to be subject to, or implicated in, audit procedures during the audit of NetSol’s financial statements;
whether the independent auditors would be functioning in the role of management or in an advocacy role; whether performance of the service
by the independent auditors would enhance NetSol’s ability to manage or control risk or improve audit quality; whether performance
of the service by the independent auditors would increase efficiency because of their familiarity with NetSol’s business, personnel,
culture, systems, risk profile and other factors; and whether the amount of fees involved, or the proportion of the total fees payable
to the independent auditors in the period that is for tax and other non-audit services, would tend to reduce the independent auditors’
ability to exercise independent judgment in performing the audit.

Board Recommendation:

| THE COMPANY’S BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS                                         
 A VOTE “FOR” THE RATIFICATION OF FORTUNE CPA, INC. AS INDEPENDENT AUDITOR FOR FISCAL YEAR 2025. |

| 18 |

<div align='center'>PROPOSAL 4

APPROVAL OF AN AMENDMENT OF THE ARTICLES OF INCORPORATION TO INCREASE THE AUTHORIZED SHARES OF CAPITAL STOCK FROM 15,000,000 TO 18,500,000 AND TO INCREASE THE AUTHORIZED NUMBER OF COMMON STOCK FROM 14,500,000 SHARES TO 18,000,000 SHARES OF COMMON STOCK</div>

On April 14, 2025, subject to shareholders’ approval, our Board
approved an amendment to our Articles of Incorporation. Our Board is requesting stockholder approval of an amendment to our Articles of
Incorporation