Company: FWDI
Filing Date: 2025-09-18
Form Type: S-8
Source: 0001683168-25-007107
Chunk: 12

Company: Forward Industries, Inc.
Filing Date: 2025-09-18
Form: S-8
Chunk 12
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ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.

Our
Certificate of Incorporation and Bylaws provide for indemnification of our officers, directors and agents to the fullest extent permitted
under the NYBCL.

NYBCL
Section 721 provides that the indemnification and advancement of expenses granted pursuant to, or provided by, this article shall not
be deemed exclusive of any other rights to which a director or officer seeking indemnification or advancement of expenses may be entitled,
whether contained in the certificate of incorporation or the by-laws or, when authorized by such certificate of incorporation or by-laws,
(i) a resolution of shareholders, (ii) a resolution of directors, or (iii) an agreement providing for such indemnification, provided that
no indemnification may be made to or on behalf of any director or officer if a judgment or other final adjudication adverse to the director
or officer establishes that his acts were committed in bad faith or were the result of active and deliberate dishonesty and were material
to the cause of action so adjudicated, or that he personally gained in fact a financial profit or other advantage to which he was not
legally entitled. Nothing contained in this article shall affect any rights to indemnification to which corporate personnel other than
directors and officers may be entitled by contract or otherwise under law.

NYBCL
Section 722(a) provides that a corporation shall indemnify any director or officer of a corporation against judgments, fines, amounts
paid in settlement, and expenses, including attorneys’ fees, actually and necessarily incurred by such person in connection with
the defense of any action, suit or proceeding to the extent that such director or officer acted in good faith and in a manner not opposed
to the best interests of the corporation.

NYBCL
Section 722(b) provides that a corporation may indemnify any person made, or threatened to be made, a party to an action by or in the
right of the corporation to procure a judgment in its favor by reason of the fact that he, his testator or intestate, is or was a director
or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of any other corporation
of any type or kind, domestic or foreign, of any partnership, joint venture, trust, employee benefit plan or other enterprise, against
amounts paid in settlement and reasonable expenses, including attorneys’ fees, actually and necessarily incurred by him