Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 1677

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 9A
Chunk 1677
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ib Bank AG Zurich as well as his service
as a board member on various charities as the board member responsible for fundraising, provides him with an understanding of generally
accepted accounting principles and financial reporting. Additionally, this experience provides an ability to assess the general application
of accounting principles in connection with the accounting for estimates, accruals and reserves; experience analyzing financial statements
that were comparable in the breadth and complexity of issues that can be reasonably expected to be raised by the Company’s financial
statements; an understanding of internal control over financial reporting; and an understanding of audit committee functions.

ITEM
11-EXECUTIVE COMPENSATION 

 Introduction

Our
Compensation Committee is responsible for establishing and overseeing compensation programs that comply with NetSol’s
executive compensation philosophy. As described in this Compensation Discussion and Analysis (“CD&A”), the
Compensation Committee follows a disciplined process for setting executive compensation. This process involves analyzing factors
such as company performance, individual performance, strategic goals and competitive market data to arrive at each element of
compensation. The Compensation Committee approves compensation decisions for all executive officers. When needed, an independent
compensation consultant helps the Compensation Committee by providing advice, information, and an objective opinion. This CD&A
will focus on the compensation awarded to NetSol’s “named executive officers”—the Chief Executive Officer,
Chief Financial Officer, and General Counsel, Corporate Secretary. You can find more complete information about all elements of
compensation for the named executive officers in the following discussion and in the Summary Compensation table that appears on page
40.

Fiscal
2024 Executive Compensation Highlights and Governance 

This
section identifies the most significant decisions and changes made regarding NETSOL’s executive compensation in fiscal year 2024.

34

Shareholder
Approval of Compensation 

At
the last annual general meeting held on June 24, 2025, shareholders expressed support for our executive compensation programs, with 73%
of votes cast at the meeting voting to ratify the compensation of our named executive officers. Although the advisory shareholder vote
on executive compensation is non-binding, the Compensation Committee has considered, and will continue to consider, the outcome of the
vote and the sentiments of our shareholders when making future compensation decisions for the named executive officers. Based on the
results from our last annual general meeting, the Compensation Committee believes shareholders support the Company’s executive
compensation philosophy and the compensation paid to the named executive officers.

Taking
into account the support of this plan at the June 24, 2025