Company: NTWK
Filing Date: 2025-04-16
Form Type: PRE 14A
Source: 0001641172-25-005001
Chunk: 32

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-04-16
Form: PRE 14A
Chunk 32
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) that is intended to satisfy the requirements for “performance based compensation”
under Section 162(m) of the Code will be payable unless the Committee certifies in writing that the applicable performance goals have
been satisfied.

Change in Control. In the event of certain
changes in control of NetSol Technologies, the Committee has the discretion to provide that any award under our 2025 Plan that may be
exercised will become fully vested and exercisable, and/or that all restrictions on any awards under our 2025 Plan will lapse as the Committee
determines, which may be prior to the change 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
________[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.

| 23 |

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