Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 666

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 2
Chunk 666
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 may not be continued. These agreements further provide
for vesting of all options and restrictive stock grants, if any.

Our
Chief Financial Officer has an employment agreement that provides, if his employment is terminated without cause or if the executive
terminates the agreement with Good Reason, he is entitled to (a) all remaining salary to the end of the date of termination, plus
salary from the end of the employment term through the end of the second anniversary of the date of termination, and (b) the
continuation by the Company of medical and dental insurance coverage for him and his family until the end of the employment term and
through the end of the second anniversary from the date of termination. Provided, however, if such benefits cannot be continued for
this extended period, the Executive shall receive cash (including a tax-equivalency payment for Federal, state and local income and
payroll taxes assuming Executive is in the maximum tax bracket for all such purposes) where such benefits may not be continued.
These agreements further provide for vesting of all options and restrictive stock grants, if any.

39

The
Secretary of the Company has an employment agreement that provides, if she is terminated without cause or if the executive terminates
the agreement with Good Reason, she is entitled to (a) all remaining salary to the end of the date of termination, plus salary from the
end of the employment term through the end of the second anniversary of the date of termination, and (b) the continuation by the Company
of medical and dental insurance coverage for her and her family until the end of the employment term and through the end of the second
anniversary of the date of termination. Provided, however, if such benefits cannot be continued for this extended period, the Executive
shall receive cash (including a tax-equivalency payment for Federal, state and local income and payroll taxes assuming Executive is in
the maximum tax bracket for all such purposes) where such benefits may not be continued. These agreements further provide for vesting
of all options and restrictive stock grants, if any.

These
agreements were designed to assist in the retention of the services of our named executives and to determine in advance the rights and
remedies of the parties in connection with any termination. The types and amounts of compensation and the triggering events set forth
in these agreements were based on a review of the terms and conditions of normal and customary agreements in our competitive marketplace.

Tax
and Accounting Implications 

Deductibility
of Executive Compensation 

As