Company: NTWK
Filing Date: 2025-04-16
Form Type: PRE 14A
Source: 0001641172-25-005001
Chunk: 71

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-04-16
Form: PRE 14A
Chunk 71
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 make the additional payments and/or provide additional benefits to the individuals named in the Summary Compensation Table in the event of a termination of employment or a change of control, as set forth below.

Change-in-Control Payments

Najeeb Ghauri, Chairman and Chief Executive Officer

In the event that Mr. Ghauri is terminated as a result of a change in control, he 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 his 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 percent of the Company’s consolidated gross revenues for the previous twelve (12) months; and at the election of the Executive, (c) a one-time cash payment equal to the cash value of all shares eligible for exercise upon the exercise of Executive’s Options then currently outstanding and exercisable as if they had been exercised in full (the “Change of Control Termination Payment”). In the event Executive elects to receive the cash value of the shares underlying Executive’s options, he shall so notify the Company of his intent.

| 51 |

The following table summarizes the potential payments to Mr. Ghauri assuming his employment with us was terminated or a change of control occurred on June 30, 2024, 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 |     | $                       | 2,800,000 |     | $                        | 116,667 |     | $                                                   | 2,800,000 |
| Health Related     
 Benefits           |     |                         |    39,216 |     |                          |       - |     |                                                     |    39,216 |
| Bonus              |     |                         |         - |     |                          |       - |     |                                                     |         - |
| Salary Multiple    
 Pay-out            |     |                         |