Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 1300

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 7
Chunk 1300
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 Persons, Promoters and Certain Control Persons

Other
than compensation arrangements for our executive officers and directors, which are described under “Executive and Director Compensation”,
since July 1, 2024, and as described below, there are no transactions to which we were a party in which (i) the amount involved exceeded
or will exceed the lesser of $120,000 of one percent (1%) of our average total assets at year-end for the last two completed fiscal years
and (ii) any of our directors, executive officers or holders of more than 5% of our capital stock, or any member of the immediate family
of, or person sharing the household with, any of the foregoing persons, had or will have a direct or indirect material interest.

Najeeb
Ghauri, our Chief Executive Officer, has immediate family members employed by the Company. These family members are compensated in accordance
with the Company’s standard employment and compensation practices applicable to employees in similar positions. Other than compensation,
there are no related-party transactions with these individuals requiring disclosure under Item 404 of Regulation S-K. Compensation information
for Naeem Ghauri, who serves as an executive officer of the Company, is included in the Summary Compensation Table under Item 11 of this
Form 10-K on page 40.

The
Company employs Ms. Aiesha Ghauri, the spouse of Mr. Najeeb Ghauri, as HR director. Her total compensation for fiscal years 2025 and
2024 was $122,000 and $112,000, respectively. The Company employs Mr. Faizaan Ghauri, Mr. Najeeb Ghauri’s son, as Chief Strategy
Officer. His total compensation for fiscal years 2025 and 2024 was $313,000 and $295,000, respectively. The Company employs Mr. Faraaz
Ghauri, Mr. Najeeb Ghauri’s son, as Vice President-Digital Retail. His total compensation for fiscal years 2025 and 2024 was $319,000
and $178,000, respectively. Mr. Najeeb Ghauri’s brother, Salim Ghauri, was a co-founder of the Company and is CEO of NetSol Technologies
Limited, the company’s Pakistani subsidiary. His compensation for fiscal years 2025 and 2024 was $648,000 and $618,000, respectively.
Compensation for the purpose