AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment (“Amendment”) to the Employment Agreement by and between NetSol Technologies, Inc.
(“Netsol” or the “Company”) and Patti L. W. McGlasson (“Executive”), dated May 1, 2006 (the “Employment
Agreement”) is entered into effective as of April 1, 2010, other than the specific amendments enumerated in the
Amendment, all of the terms of the Employment Agreement shall remain in the full force and effect, and shall not
be obviated or affected by this Amendment.
In the event of a conflict between the terms of this Amendment and the Employment Agreement, the terms of this
Amendment shall govern. All capitalized terms contained herein are, unless otherwise stated, as defined in the
Now therefore, for good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties
agree as follows:
Section 2.1 of the Employment Agreement is modified to eliminate any post-termination restrictions on
competition as is mandated by California law and accordingly section 2.2 is modified to read:
2.2 Except with the prior written consent of the Company’s Board of Directors (“Board”), Executive will
comply with all the restrictions set forth below at all times during her employment:
Section 3.1 shall be amended to read as follows:
3.1 The Company shall pay Executive a base salary of One Hundred Thirty Thousand Dollars ($130,000)
per year (the "Base Salary"), payable in accordance with the Company policy. Such salary shall be pro rated for
any partial year of employment on the basis of a 365-day fiscal year. Executive will be eligible for bonuses from
time to time as determined by the Board.
Section 3.6 shall be amended to read as follows:
3.6 Executive shall receive the standard vacation pursuant to the Company’s vacation policy but no less
than 4 weeks vacation per annum.
A new section 3.9 shall be added to read as follows:
3.9 Executive shall be granted forty t