Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 86

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 86
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 purposes to the Corporation, subject to the control of the Board of Directors.

<div align='center'>ARTICLE V: INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOYEES, AND AGENTS</div>

Section 5.1. INDEMNIFICATION IN ACTIONS BY THIRD PARTIES. The Company may, to the extent permitted by the Nevada Corporations Act, indemnify any person who is or was a director,
officer, employee, or agent of the Company or is or was serving at the Corporation’s request as a director, officer, employee, or
agent of another corporation, partnership, joint venture, trust, or other entity (each such person, an “Indemnitee”)
against expenses, including attorneys’ fees, judgments, fines, and amounts paid in settlement, actually and reasonably incurred
by the Indemnitee in connection with any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative,
or investigative, other than a proceeding by or in the right of the Corporation, to which the Indemnitee is, was, or is threatened to
be made a party by reason of being an Indemnitee, if the Indemnitee either:

(a) Did not breach, through
intentional misconduct, fraud, or a knowing violation of law, the Indemnitee’s fiduciary duties as a director or officer to act
in good faith and in the interests of the Corporation.

(b) Acted in good faith and
in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal
action or proceeding, had no reasonable cause to believe the Indemnitee’s conduct was unlawful.

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Section 5.2. INDEMNIFICATION IN ACTIONS BY OR ON BEHALF OF THE CORPORATION. The Company may, to the extent permitted by the Nevada Corporations Act, indemnify any Indemnitee
against expenses, including attorneys’ fees and amounts paid in settlement, actually and reasonably incurred by the Indemnitee in
connection with any threatened, pending, or completed suit or action by or in the right of the Company to which the Indemnitee is, was,
or is threatened to be made a party by reason of being an Indemnitee, if the Indemnitee either:

(a) Did not breach, through
intentional misconduct, fraud