Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 1693

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 9A
Chunk 1693
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    Roger K Almond 
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    Patti L. W. McGlasson 
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Pension
Benefits  

We
do not have any qualified or non-qualified defined benefit plans.

Potential
Payments upon Termination or Change of Control 

Generally,
regardless of the manner in which a named executive officer’s employment terminates, the executive officer is entitled to receive
amounts earned during the term of employment. Such amounts include the portion of the executive’s base salary that has accrued
prior to any termination and not yet been paid, and unused vacation pay.

In
addition, we are required to make the additional payments and/or provide additional benefits to the individuals named in the Summary
Compensation Table in the event of a termination of employment or a change of control, as set forth below.

Change-in-Control
Payments

Najeeb
Ghauri, Chairman and Chief Executive Officer 

In
the event that Mr. Ghauri is terminated as a result of a change in control, he is entitled to all payments due in the event of a termination
for Cause or Good Reason and: (a) a onetime payment equal to the product of 2.99 and his salary during the preceding 12 months; (b) a
one-time payment equal to the higher of (i) Executive’s bonus for the previous year and (ii) one percent of the Company’s
consolidated gross revenues for the previous twelve (12) months; and at the election of the Executive, (c) a one-time cash payment equal
to the cash value of all shares eligible for exercise upon the exercise of Executive’s Options then currently outstanding and exercisable
as if they had been exercised in full (the “Change of Control Termination Payment”). In the event Executive elects to receive
the cash value of the shares underlying Executive’s options, he shall so notify the Company of his intent.

43

The
following table summarizes the potential payments to Mr. Ghauri assuming his employment with us was terminated, or a change of control