Company: NTWK
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001641172-25-007993
Chunk: 39

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 39
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 To provide the Board with autonomy, the Board maintains a majority of independent members who all head and participate exclusively
in all Board committees. The CEO makes quarterly reports to the Board of Directors and answers questions posed by Directors. He also discusses
with the Board the reasons for certain recommendations of the Company’s executive management group.

The Board does not have a policy on whether the
roles of the Chairman and CEO should be separated but believes the current combination of the two roles provides NetSol with, among other
things, a clear and effective leadership structure to communicate the Company’s business and long-term strategy to its customers,
shareholders, and the public. The combined Chairman-CEO structure also provides for robust and frequent communication between the Board’s
independent directors and the management of the Company. Recently, having Mr. Najeeb Ghauri in the dual role was extremely effective as
rapid, clear, decisive decisions were made in the midst of the global Covid-19 pandemic and its aftermath affecting all NetSol’s
subsidiaries.

Board Composition and Refreshment

We believe the Board benefits from a mix
of new directors who bring fresh perspectives and longer-serving directors, who bring valuable experience, continuity, and a deep understanding
of the Company. The Board strives to maintain an appropriate balance of tenure, turnover, diversity, skills, and experience. To promote
thoughtful Board refreshment, we have:

| ● | Developed a comprehensive, ongoing Board succession planning process; and, |
| ● | Implemented an annual Board and Committee assessment process               |

The average age of our Director nominees is 66 years and our
Independent Director nominees is 67 years.

Throughout the director selection and nomination
process, the Nominating and Corporate Governance Committee and the Board seek to achieve diversity within the Board with various viewpoints,
perspectives and expertise that are representative of our global business. Once elected, the Directors periodically visit NetSol’s
operations, globally. This provides the Directors with an opportunity to see firsthand the execution and impact of the Company’s
strategy and engage with senior leaders and associates in our subsidiaries to deepen their understanding of NetSol’s business, competitive
environment, and corporate culture. NetSol continues to obtain diverse viewpoints and experiences from various ages, gender, business
backgrounds that come together from various parts of the world to form the Board of Directors of NetSol.

| 27 |

There are five members of the Board of Directors;
however, the three independent members serve on the key Board Committees.

Role of Board in Oversight of