Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 2070

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 11
Chunk 2070
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580,552 

44

Patti
L. W. McGlasson, Senior V.P. of Legal and Corporate Affairs, Secretary and General Counsel 

In
the event that Ms. McGlasson is terminated as a result of a change in control, she is entitled to all payments due in the event of a
termination for Cause or Good Reason and: (a) a onetime payment equal to the product of 2.99 and her salary during the preceding 12 months;
(b) a one-time payment equal to the higher of (i) Executive’s bonus for the previous year and (ii) one-half of one percent of the
Company’s consolidated gross revenues for the previous twelve (12) months (the “Change of Control Termination Payment”).

The
following table summarizes the potential payments to Ms. McGlasson assuming her employment with us was terminated, or a change of control
occurred on June 30, 2025, the last day of our most recently completed fiscal year.

    BENEFITS AND PAYMENTS 
    TERMINATION AFTER CHANGE OF CONTROL  
    TERMINATION UPON DEATH OR DISABILITY  
    TERMINATION BY US WITHOUT CAUSE OR BY EXECUTIVE FOR GOOD REASON 

    Base Salary Continuance 
    $504,624  
    $42,052  
    $504,624 
  
    Health related benefits 
     25,752  
     -  
     25,752 
  
    Bonus 
     -  
     -  
     - 
  
    Salary Multiple Pay-out 
     754,413  
     -  
     - 
  
    Bonus or Revenue One-time Pay-Out 
     330,441  
     -  
     - 
  
    Net Cash Value of Options 
     -  
     -  
     - 

    Total 
    $1,615,230  
    $42,052  
    $530,376 

Clawback
Policy

In
2023, the Company adopted an Executive Officer Clawback Policy (the “Clawback Policy”) that complies with SEC and Nasdaq
requirements and standards. The Clawback Policy requires the recovery, on a prompt and mandatory basis, of excess incentive-based compensation
received by current or former executive officers during the applicable three-year period in the event the Company is required to prepare
an accounting restatement