Company: NTWK
Filing Date: 2025-04-16
Form Type: PRE 14A
Source: 0001641172-25-005001
Chunk: 37

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-04-16
Form: PRE 14A
Chunk 37
---

nominees recommended by shareholders for election to the Board provided the names of such nominees, accompanied by relevant biographical
information, and relevant information about the shareholder submitting the nominee, are provided in writing to our secretary in accordance
with the requirements of our bylaws.

In furtherance of ongoing board refreshment,
the Nominating and Corporate Governance Committee is committed to ensuring that it remains composed of directors who are equipped to oversee
the success of the business, striving to maintain an appropriate balance of diversity, skills, and tenure in its composition, and intends
to continue its board refreshment over the next few years.

The Committee has nominated
five director nominees to stand for election at the Annual Meeting. Three of the nominees or 60%, are independent directors.

Director Independence

A member is independent if such member
has no relationship with the Company that would interfere with the exercise of independent judgment in carrying out the responsibilities
of a director. The Board has determined that independent directors must have no material relationship with the Company, based on all material
facts and circumstances. At a minimum, an independent director must meet each of the standards listed below.

| 1. | The director, within the last three years, has not been employed by and has no immediate family member that has been an executive officer of the Company.                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 2. | Neither the director nor any immediate family member has, in any 12-month period during the last three years, received more than $120,000 in direct compensation from the Company other than compensation for director or committee service and pension or other deferred compensation for prior service.                                                                                                                                                                                                                                                                               |
| 3. | Neither the director nor any immediate family member is a current partner of the Company’s independent accounting firm, the director is not a current employee of the independent accounting firm, no immediate family member is a current employee of the independent accounting firm working in its audit, assurance or tax compliance practice, and neither the director nor any immediate family member was an employee or partner of the independent accounting firm within the last three years and worked on the Company’s audit within that time.                               |
| 4. | Neither the director nor any immediate family member has, within the last three years, been part of an interlocking directorate. This means that no executive officer of the Company served on the compensation committee of a Company that employed the director or an immediate family member.                                                                                                                                                                                                                                                                                        |
| 5. | The director is not currently an employee of and no immediate family member