Company: FWDI
Filing Date: 2025-09-18
Form Type: S-8
Source: 0001683168-25-007107
Chunk: 14

Company: Forward Industries, Inc.
Filing Date: 2025-09-18
Form: S-8
Chunk 14
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 forth in said first two paragraphs.

Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us
pursuant to the foregoing provisions, the SEC has taken the position that, such indemnification is against public policy as expressed
in the Securities Act and is therefore unenforceable. In the event that a claim for indemnification against such liabilities (other than
the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities
being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question of whether such indemnification by us is against public policy as expressed in the Securities
Act and we will be governed by the final adjudication of such issue.

ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.

Not applicable.

ITEM 8. EXHIBITS.

| Exhibit 

# |     | Exhibit Description                                                                                 |
| 4.1       |     | 2021 Equity Incentive Plan (incorporated by reference to Exhibit 4.1 to Form 8-K filed on 12/23/20) |
| 4.2       |     | Amendment to the 2021 Equity Incentive Plan*                                                        |
| 5.1       |     | Legal Opinion of Nason Yeager Gerson Harris & Fumero, P.A.*                                         |
| 23.1      |     | Consent of CohnReznick LLP, independent registered public accounting firm*                          |
| 23.2      |     | Consent of Nason Yeager Gerson Harris & Fumero, P.A. (contained in Exhibit 5.1)                     |
| 107       |     | Filing fee table*                                                                                   |

* Filed herewith.

ITEM 9. UNDERTAKINGS.

| (a) | The undersigned Registrant hereby undertakes: |    |                                                                                  |    |                                                                               |
|     |                                               | -1 | To file, during any period in which offers or                                    
 sales are being made, a post-effective amendment to this registration statement: |    |                                                                               |
|     |                                               |    |                                                                                  | -i | To include any prospectus required by section 10(a)(