Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 2

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 8
Chunk 2
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 executive officers,
directors and beneficial owners of more than 10% of its Common Stock were complied with.

CHANGE
IN MANAGEMENT AND BOARD OF DIRECTORS

Board
of Directors

At
the 2024 Annual Shareholders Meeting held in June 2025, a five-member board stood for election. The members were elected and, according
to the bylaws of the Company, shall retain their position as directors until the next meeting. The board of directors is made up of Mr.
Najeeb U. Ghauri (Chairman of the Board), Mr. Mark Caton, Ms. Malea Farsai, Mr. Kausar Kazmi and Mr. Ian Smith. Mr. Michael Francis did
not stand for re-election due to personal reasons and Mr. Ian Smith was nominated and elected to the Board.

Committees

During
the fiscal year 2025, the Audit Committee, the Compensation Committee and the Nominating and Corporate Government Committee were
structured as follows: The Audit Committee consisted of Mr. Kazmi, as Chair, with Mr. Caton and Mr. Francis as members. The
Compensation Committee consisted of Mr. Caton, as Chair, with Mr. Kazmi and Mr. Francis as its members. The Nominating and Corporate
Governance Committee consisted of Mr. Francis, as Chair, with Mr. Caton and Mr. Kazmi as its members. Following the annual
shareholders meeting, Mr. Ian Smith was appointed as the Chair of the Nominating and Corporate Governance Committee and was
appointed as a member of the Audit Committee and the Compensation Committee. Mr. Francis is no longer a member of the board of
directors, and he will no longer serve on these committees.

The
table below provides the membership for each of the committees during Fiscal Year 2025.

    Nominating
    and

    Corporate

    Audit
     
    Compensation
     
    Governance
  
    Director
     
    Committee
     
    Committee
     
    Committee
  
    Najeeb
    Ghauri

    Malea
    Farsai

    Mark
    Caton (I)
     
    X
     
    X
(C) 
     
    X
  
    Kausar
    Kazmi (I) 
     
    X
(C) 
     
    X
     
    X
  
    Michael
    Francis * (I) 
     
    X