Company: NTWK
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001641172-25-007993
Chunk: 37

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 37
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 the next few years.

The Committee has nominated
five director nominees to stand for election at the Annual Meeting. Three of the nominees or 60%, are independent directors.

Director Independence

A member is independent if such member
has no relationship with the Company that would interfere with the exercise of independent judgment in carrying out the responsibilities
of a director. The Board has determined that independent directors must have no material relationship with the Company, based on all material
facts and circumstances. At a minimum, an independent director must meet each of the standards listed below.

| 1. | The director, within the last three years, has not been employed by and has no immediate family member that has been an executive officer of the Company.                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 2. | Neither the director nor any immediate family member has, in any 12-month period during the last three years, received more than $120,000 in direct compensation from the Company other than compensation for director or committee service and pension or other deferred compensation for prior service.                                                                                                                                                                                                                                                                               |
| 3. | Neither the director nor any immediate family member is a current partner of the Company’s independent accounting firm, the director is not a current employee of the independent accounting firm, no immediate family member is a current employee of the independent accounting firm working in its audit, assurance or tax compliance practice, and neither the director nor any immediate family member was an employee or partner of the independent accounting firm within the last three years and worked on the Company’s audit within that time.                               |
| 4. | Neither the director nor any immediate family member has, within the last three years, been part of an interlocking directorate. This means that no executive officer of the Company served on the compensation committee of a Company that employed the director or an immediate family member.                                                                                                                                                                                                                                                                                        |
| 5. | The director is not currently an employee of and no immediate family member is an executive officer or controlling shareholder of another organization to which the Company made or from which the Company received payments for property or services in the past three fiscal years that exceed 5% of the recipient’s consolidated gross revenues for that year or $200,000 whichever is more.  Payments arising solely from investments in the Company’s securities or payments under non-discretionary charitable contribution matching programs are excluded from this calculation. |

| 26 |

For the purposes of these standards, “Company”
includes all NetSol subsidiaries and other affiliates. “Immediate Family Member” includes the director’s spouse, domestic