Company: NTWK
Filing Date: 2025-04-16
Form Type: PRE 14A
Source: 0001641172-25-005001
Chunk: 79

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-04-16
Form: PRE 14A
Chunk 79
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 effort the successful conduct of the Company’s operation is largely dependent.
Accordingly, the Plan permits the grant of incentive awards from time to time to selected directors, officers, employees and consultants
of the Company and its subsidiaries.

<div align='center'>ARTICLE 2

EFFECTIVE DATE</div>

2.1 Effective Date.

The Plan will become effective on [______] 2025,
subject to approval by the shareholders of the Company. The Plan will be deemed to be approved by the shareholders if it receives the
approval of the holders of a majority of the shares of stock of the Company in accordance with the applicable provisions of the Laws
of the State of Nevada and the Bylaws of the Company. Any Awards granted under the Plan prior to shareholder approval are effective when
made (unless the Committee specifies otherwise at the time of grant), but no Award may be exercised or settled and no restrictions relating
to any Award may lapse before shareholder approval. If the shareholders fail to approve the Plan within twelve (12) months of [______],
2026, any Award previously made pursuant to the Plan shall be automatically canceled without any further act.

<div align='center'>ARTICLE 3

DEFINITIONS</div>

3.1 Definitions.

When appearing in this Plan with the initial letter capitalized, and the word or phrase does not commence a sentence, the word or phrase shall generally be given the meaning ascribed to it in this Section or in Sections 1.1 or 2.1, unless a clearly different meaning is required by the context. The following words and phrases shall have the following meanings:

(a)“Award” means any Option, Stock Appreciation Right, Restricted Stock Award, or Performance Share Award, or any other right or interest relating to Stock or cash, granted to a Participant under the Plan.

(b)“Award Agreement” means any written agreement, contract, or other instrument or document evidencing an Award.

(c)“Board” means the Board of Directors of the Company.

(d)“Code” means the Internal Revenue Code of 1986, as amended from time to time.

(e)“Committee” means the committee of the Board described in Article 4.

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(f)“Company” means NetSol Technologies, Inc.

(g)“Disability” shall mean any illness or other physical or mental condition of a Participant that renders the Participant incapable of performing his customary and usual duties for the Company, or any medically determinable illness or other physical or mental condition