Company: FWDI
Filing Date: 2025-08-15
Form Type: DEF 14A
Source: 0001683168-25-006240
Chunk: 18

Company: Forward Industries, Inc.
Filing Date: 2025-08-15
Form: DEF 14A
Chunk 18
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 Preferred Stock as Series A-1 Convertible Preferred Stock, which shall have the following designations, rights, preferences
and limitations:

<div align='center'>Series A-1 Convertible Preferred Stock</div>

1. . The Corporation designates
a series of preferred stock, consisting of 6,700 shares, with a stated value of $1,000 per share (the “Stated Value”)(as
adjusted for any stock splits, stock dividends, recapitalizations, or similar transaction with respect to such stock), as Series A-I Convertible
Preferred Stock (the “Series A-1”)which shall have the designations, rights, preferences and limitations described
in this Article FlFTH. The Series A-1 will rank, with respect to the distribution of assets upon the Corporation’s liquidation,
dissolution or winding up, (1) senior to all classes or series of the Corporation’s Common Stock (the “Common Stock”)and to all other equity securities issued by the Corporation other than equity securities referred to in clauses (2) and (3) of this
(“Junior Stock”); (2) on a parity with all equity securities issued by the Corporation with terms
specifically providing that those equity securities rank on a parity with the Series A-1 Convertible Preferred Stock with respect to the
distribution of assets upon the Corporation’s liquidation, dissolution or winding up (“Parity Stock”);(3) junior
to all equity securities issued by the Corporation with terms specifically providing that those equity securities rank senior to the Series
A-1 with respect to the distribution of assets upon the Corporation’s liquidation, dissolution or winding up (“Senior Stock”);
and (4) junior to all of the Corporation’s existing and future indebtedness.

| B-1 |

2. The shares of Series A-l
are not redeemable.

3. The holders of shares
of Series A-1 shall not have any voting rights, except as set forth herein.

4. . Upon the liquidation,
dissolution or winding up of the business of the Corporation, whether voluntary or involuntary, before any distribution or payment shall
be made to the holders of any Common Stock or any other class or series of Junior Stock, each holder of Series A-1 shall be entitled to
receive out of assets of the Corporation legally available therefor: (i) an amount per share equal to the Stated Value of cash and/or
other property received by the Corporation pursuant to such liquidation