Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 669

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 2
Chunk 669
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5,
and 2024, respectively.

(7)
Consists of employer-paid medical and dental insurance premiums and the Company contributions under the 401(k) plan for the fiscal years
ended June 30, 2025, and 2024.

(8)
Consists of employer-paid medical and dental insurance premiums and the Company contributions under the 401(k) plan for the fiscal years
ended June 30, 2025, and 2024.

Grants
of Plan-Based Awards 

There
were no stock grants during the two years presented.

Discussion
of Summary Compensation Table 

The
terms of our executive officers’ compensation are derived from our employment agreements with them and the annual performance review
by our Compensation Committee. The terms of Mr. Najeeb Ghauri’s employment agreement with the Company were the result of negotiations
between the Company and the executive and were approved by our Compensation Committee and Board of Directors. The terms of Ms. McGlasson’s
and Mr. Almond’s employment agreement with the Company were the result of negotiations between our Chief Executive Officer and
the employees and were approved by our Compensation Committee.

Employment
Agreement with Najeeb Ghauri 

Effective
July 1, 2024, the Company entered into an amended and restated employment agreement with our Chief Executive Officer, Najeeb Ghauri (the
“CEO Agreement”). The CEO Agreement was amended solely to place the base salary and bonus structure for Mr. Ghauri into the
Appendix to the CEO Agreement. All other material terms remain unchanged. From the agreement entered into with Mr. Ghauri in January
1, 2007, and amended thereafter. Pursuant to the CEO Agreement between Mr. Ghauri and the Company the Company agreed to employ Mr. Ghauri
as its Chief Executive Officer for a five-year term. The term of employment automatically renews for 12 additional months unless notice
of intent to terminate is received by either party at least 6 months prior to the end of the term. For the fiscal year 2025, Mr. Ghauri
is entitled to an annualized compensation of $1,040,000 consisting of salary, allowances, perquisites and benefits, and is eligible for
annual bonuses based on the bonus structure adopted by the Compensation Committee as described in Item 11 under Executive Compensation
beginning on page 34. For fiscal year 2026, Mr. Ghauri’s annualized compensation consisting