Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 26

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 26
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Kathleen Weisberg.
Effective July 1, 2023, the Company and Kathleen Weisberg, the Company’s Chief Financial Officer, entered into a three-year Employment
Agreement. Pursuant to her Employment Agreement, Ms. Weisberg is paid an annual base salary of $250,000 and is eligible to earn a bonus
based on certain fiscal targets and performance metrics set by the Compensation Committee of the Board in consultation with the Chief
Executive Officer. No such targets or performance metrics have been set by the Compensation Committee.

Discretionary Bonus

Each of the Named Executive Officers
is eligible to receive discretionary bonuses as determined by the Compensation Committee.

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Termination Provisions

Ms. Weisberg would be entitled
to receive six months base salary and other benefits if her employment agreement is terminated by the Company without cause or by the
executive for good reason. “Good Reason” under Ms. Weisberg’s employment agreement generally means (1) the assignment
to the executive without her consent of duties materially inconsistent with such executive’s position; (2) a decrease in annual
salary rate, other than an across the board decrease in salary applicable to all senior executives of the Company of not more than 10%;
(3) any failure by the Company to perform any material obligation under, or its breach of a material provision of, the employment agreement;
(4) the failure of a successor company to expressly assume the respective executive’s employment agreement. “Cause”
under her employment agreement generally means: (1) willful misconduct in connection with the performance of any of her duties; (2) willful
failure, neglect or refusal to perform her duties or services under the employment agreement, which failure, neglect or refusal shall
continue for a period of time after written notice has been given to the executive by or on behalf of the Board; and (3) the commission
of, conviction of, or nolo contendere or guilty plea in connection with, a felony or a crime of moral turpitude.

Mr. Wild is entitled to any accrued
but unpaid base salary and other benefits if his employment agreement is terminated without cause. “Cause” under Mr. Wild’s
employment agreement generally means: (1) dishonesty, illegal conduct, or gross misconduct; (2) any commission of embezzlement, misappropriation,
or fraud; (3) the conviction of, plea of guilty, or nolo contendere to a felony or crime of moral tur