Company: NTWK
Filing Date: 2025-04-16
Form Type: PRE 14A
Source: 0001641172-25-005001
Chunk: 39

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-04-16
Form: PRE 14A
Chunk 39
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 appropriate and suitable structure for a proper, efficient,
and cost-effective Board functioning and communication. Mr. Najeeb Ghauri is the direct link between senior management globally and the
Board members and provides critical insight to the Board, as well as feedback to senior management through his comprehensive understanding
of the issues at hand. Mr. Ghauri’s travels and visits to all subsidiaries across the globe, holding meetings with heads of each
subsidiary and relaying the important aspects of such meetings to the Board, justify the need for Mr. Ghauri to hold his dual leadership
position. 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,