Company: NTWK
Filing Date: 2025-04-16
Form Type: PRE 14A
Source: 0001641172-25-005001
Chunk: 40

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-04-16
Form: PRE 14A
Chunk 40
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 globally. This provides the Directors with an opportunity to see firsthand the execution and impact of the Company’s
strategy and engage with senior leaders and associates in our subsidiaries to deepen their understanding of NetSol’s business, competitive
environment, and corporate culture. NetSol continues to obtain diverse viewpoints and experiences from various ages, gender, business
backgrounds that come together from various parts of the world to form the Board of Directors of NetSol.

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There are five members of the Board of Directors;
however, the three independent members serve on the key Board Committees.

Role of Board in Oversight of Risks

Our Board is actively involved in the oversight of risks that could affect the Company. In this regard, the Board seeks to understand and oversee the most critical risks relating to our business both internally and externally, the Board allocates responsibilities for the oversight of risks among the full Board and its committees, and reviews the systems and processes that management has in place to manage the current risks facing the Company, as well as those that could arise in the future.The Board recognizes that the Company’s business risk is not static,
and that it is not possible to mitigate all risk and uncertainty. The Board does not have a standing risk management committee but administers
this oversight function directly through the Board as a whole, as well as through Committees of the Board.

For example, the Audit Committee assists the
Board in its risk oversight function by reviewing and discussing with management our accounting principles, financial reporting practices
and system of disclosure controls and internal controls over financial reporting. The Nominating and Corporate Governance Committee assist
the Board in its risk oversight function by periodically reviewing and discussing with management important corporate governance principles
and practices and by considering risks related to our director nominee evaluation process and legacy. This Committee also ensures that
the Company maintains a positive and effective Board leadership and is up to date with internal policies such as the Company’s Code
of Ethics. The Compensation Committee assists the Board in its risk oversight function by considering risks relating to the design of
our executive compensation programs and arrangements. The full Board receives updates from the Company’s Senior Manager of Information
and Risk Security. The legal team provide the Board with information and updates on the processes and procedures for Cybersecurity. The
Board considers strategic risks and opportunities and receives reports from the committees regarding risk oversight in their areas of
responsibility as necessary.

The Company believes the Board leadership structure
facilitates the division of risk management oversight responsibilities among the Board committees and enhances the Board’s efficiency
in