Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 94

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 94
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 officer or agent shall not of itself create contract rights.

Section 4.2. REMOVAL AND RESIGNATION. Any
officer elected by the Board of Directors may be removed, with or without cause, at any regular or special meeting of the Board of Directors
by the affirmative vote of the majority of the directors in attendance where a quorum is present. Removal shall be without prejudice to
the contract rights, if any, of the officer so removed.

Any officer may resign at any time by delivering
written notice to the Secretary of the Corporation. Resignation is effective when the notice is delivered unless the notice provides a
later effective date. Any vacancies may be filled in accordance with Section 4.1 of these Bylaws.

Section 4.3. POWERS AND DUTIES OF OFFICERS.
The powers and duties of the officers of the Company shall be as provided from time to time by resolution of the Board of Directors or
by direction of an officer authorized by the Board of Directors to prescribe the duties of other officers. In the absence of such resolution,
the respective officers shall have the powers and shall discharge the duties customarily and usually held and performed by like officers
of corporations similar in organization and business 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