Company: FWDI
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001683168-25-008141
Chunk: 16

Company: Forward Industries, Inc.
Filing Date: 2025-11-10
Form: 424B5
Chunk 16
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 we appointed the Asset Manager to provide discretionary
investment management services with respect to all of our (whether held directly by us or indirectly by a subsidiary or affiliate) cash,
cash equivalents, stablecoins, cryptocurrency and other investible assets (excluding (i) publicly traded equities acquired pursuant to
mergers, acquisitions, combinations or other similar transactions pursuant to which we acquire or otherwise combine or merge with another
publicly traded digital asset treasury company, (ii) privately offered equity securities and (iii) non-publicly traded convertible debt
instruments). Title to the account and all account assets will be held in our name. The Asset Manager is not authorized to act as custodian
of our assets, nor to take possession or title to any assets.

As compensation for the Asset
Manager’s services, we will pay management fees according to a fee schedule set forth in the Asset Management Agreement. In addition,
the Asset Manager is authorized to appoint an affiliate to stake some or all of the SOL purchased for, maintained in the account, or otherwise
owned or controlled by the Company. Such Asset Manager affiliate will be entitled to mutually agreed-upon staking-based fees, subject
to certain parameters according to a schedule set forth in the Asset Management Agreement. The Asset Manager is otherwise responsible
for all of its overhead costs and the custody fees of any custodian selected by the Asset Manager, and the Company will pay or reimburse
the Asset Manager for all reasonable and documented expenses related to the operation of the account.

The Asset Management Agreement
has an initial term of three years and renews for successive one-year renewal periods unless the Company or the Asset Manager terminates
or elects not to continue effectiveness of the Asset Management Agreement. The Asset Management Agreement may be terminated by either
party without cause after the initial term or any subsequent renewal period upon ninety (90) days’ notice prior to the expiration
of such term. In addition, at any time, the Asset Management Agreement may be terminated either for cause or upon certain acts of insolvency,
each as described therein. While the Asset Manager is the exclusive asset manager for the Company, the Asset Manager may nonetheless provide
similar services to other clients, and the Asset Manager or its affiliates may engage in transactions for their own accounts. The Asset
Management Agreement contains customary representations, warranties, confidentiality, indemnification and limitation of liability provisions,
and is governed by the laws of the State of New York.

Services Agreement

On September 10, 2025, we
entered into a services agreement (