Company: NTWK
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001641172-25-007993
Chunk: 29

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 29
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option, consistent with the requirements of our 2025 Plan. The exercise price of each option may not be less than the fair market value
of a share of our common stock on the date of grant (except in connection with the assumption or substitution for another option in a
manner qualifying under Section 424(a) of the Internal Revenue Code of 1986, as amended (the Code). Incentive stock options granted to
any participant who owns 10% or more of our outstanding common stock (a Ten Percent Shareholder) must have an exercise price equal to
or exceeding 110% of the fair market value of a share of our common stock on the date of the grant and must not be exercisable for longer
than five years.

Options become vested and exercisable at such times or upon such events
and subject to such terms, conditions, performance criteria or restrictions as specified by the Committee. The maximum term of any option
granted under our 2025 Plan is ten years, provided that an incentive stock option granted to a Ten Percent Shareholder must have a term
not exceeding five years. Unless otherwise determined by the Committee, an option generally will remain exercisable for 90 days following
the optionee’s termination of service, except that if service terminates as a result of the optionee’s normal retirement, death or disability,
the option generally will remain exercisable for its remaining term. The Committee, in its discretion, may provide longer post-termination
exercise periods, but in any event the option must be exercised no later than its expiration date.

Stock options are not assignable or transferable by the optionee other
than by will or by the laws of descent and distribution. Notwithstanding the foregoing, to the extent permitted by the Committee, in its
discretion, and as set forth in the option award agreement, an option is assignable or transferable subject to the applicable limitations
described in the General Instructions to Form S-8 Registration Statement under the Securities Act of 1933 (which includes transfers to
family members, family trusts or pursuant to domestic relations orders, but excludes transfers of options for consideration).

Performance Awards. Under our 2025 Plan,
a participant may also be awarded a “performance award,” which means that the participant may receive cash, stock or other awards
contingent upon achieving performance goals established by the Committee. The Committee may also make “deferred share” awards,
which entitle the participant to receive our stock in the future for services performed between