Company: NTWK
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001641172-25-007993
Chunk: 32

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 32
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 of control.

Termination or Amendment. Our 2025 Plan will continue in effect until the first to occur of (i) its termination by the Committee or (ii) the date
on which all shares available for issuance under our 2025 Plan have been issued and all restrictions on such shares under the terms of
our 2025 Plan and the agreements evidencing awards granted under our 2025 Plan have lapsed. However, no incentive stock option may be
granted under our 2025 Plan after June 24, 2035.

The Committee may terminate or amend our 2025 Plan at any time, provided
that without shareholder approval, our 2025 Plan cannot be amended to increase the Share Reserve, change the class of persons eligible
to receive incentive stock options or effect any other change that would require shareholder approval under any applicable law. No termination
or amendment may affect any outstanding award unless expressly provided by the Committee, and, in any event, may not adversely affect
an outstanding award without the consent of the participant unless necessary to comply with any applicable law.

The foregoing summary of certain provisions of our 2025 Plan is qualified
by reference to the text of our 2025 Plan attached as Appendix A to this proxy statement.

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Summary of Federal Income Tax Consequences of our 2025 Plan

The following summary describes the typical U.S. federal income tax
consequences of awards granted under our 2025 Plan based upon provisions of the Code, as in effect on the date hereof, current regulations
promulgated and proposed thereunder, and existing public and private administrative rulings of the Code, all of which are subject to change
(possibly with retroactive effect). This is not intended to be a complete analysis and discussion of the federal income tax treatment
of awards under our 2025 Plan, and does not discuss estate or gift taxes or the income tax laws of any municipality, state, or foreign
country. Our Company generally will be entitled to withhold any required taxes in connection with the exercise or payment of an award,
and may require the participant to pay such taxes as a condition to exercise of an award.

Stock Options. ISOs and non-qualified
stock options (NQSOs) are treated differently for federal income tax purposes. ISOs are intended to satisfy the requirements of Section
422 of the Code. NQSOs need not satisfy such requirements.

A participant is not taxed on the grant or, except as described in
the