Company: NTWK
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001641172-25-007993
Chunk: 21

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 21
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 Recommendation

| THE                                                                           
 COMPANY’S BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE ADVISORY 
 VOTE ON NAMED EXECUTIVE OFFICER COMPENSATION.                                 |

| 16 |

<div align='center'>PROPOSAL 3

RATIFICATION OF APPOINTMENT OF FORTUNE CPA, INC. AS THE COMPANY’S INDEPENDENT AUDITOR FOR

FISCAL YEAR 2025</div>

The Audit Committee is directly responsible for
the appointment, compensation, retention, and oversight of the Company’s independent registered public accounting firm. The Audit
Committee engages in an annual evaluation of the independent public accounting firm’s qualifications, assessing a wide variety of
factors.

The Audit Committee has appointed Fortune CPA,
Inc. (“Fortune”) to audit and review NetSol’s financial statements for the fiscal year ending June 30, 2025. A majority
of the votes cast, in person or by proxy, at the Annual Meeting, is required for the ratification of the appointment of the independent
registered public accounting firm. Should the shareholders not ratify the selection of Fortune, it is contemplated that the appointment
of Fortune will be permitted to stand unless the Audit Committee finds other compelling reasons for making a change. Disapproval by the
shareholders will be taken into consideration in the selection of the independent registered public accounting firm for the coming year.

PRINCIPAL ACCOUNTANT FEES AND SERVICES

Audit Fees

For the fiscal year ended June 30, 2024, we engaged
two independent registered public accounting firms due to a change in auditors during the year.

| 1. | BF                                                                                                                                    
 Borgers CPA PC (“BF Borgers”) was engaged to audit our financial statements and perform review services for the fiscal                
 year ended June 30, 2023. We incurred fees of $262,500 for these audit services. In addition, BF Borgers was engaged to review our    
 quarterly financial statements for the first two quarters of fiscal year ended 2024, for which we incurred fees of $60,000.           |
| 2. | Due                                                                                                                                   
 to subsequent sanctions imposed by the SEC on BF Borgers, we engaged Fortune CPA (“Fortune”) to re-audit the financial                
 statements for the fiscal year ended June 30, 2023, and to audit our financial statements for the fiscal year ended June 30, 2024.    
 In addition, Fortune reviewed our