Company: FWDI
Filing Date: 2025-01-17
Form Type: 10-K/A
Source: 0001683168-25-000424
Chunk: 10

Company: Forward Industries, Inc.
Filing Date: 2025-01-17
Form: 10-K/A
Chunk 10
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   |     | Total  
 ($)(j) |         |
| Sangita Shah     |     |                             | 60,000 |     |        | – |     |           | 40,000 |     |                           | – |     |                                                                  | – |     |                               | – |     |        | 100,000 |
| Sharon Hrynkow   |     |                             | 45,000 |     |        | – |     |           | 40,000 |     |                           | – |     |                                                                  | – |     |                               | – |     |        |  85,000 |
| James Ziglar (2) |     |                             | 30,000 |     |        | – |     |           | 40,000 |     |                           | – |     |                                                                  | – |     |                               | – |     |        |  70,000 |

_______________________

| (1) | Amounts reported represent the aggregate                                                        
 grant date fair value of awards granted without regard to forfeitures, computed in accordance   
 with ASC 718. This amount does not reflect the actual economic value realized by the directors. |
| (2) | Mr. Ziglar resigned as a director in February 2024. These options                               
 were forfeited upon his resignation.                                                            |

| 5 |

<div align='center'>Executive Compensation</div>

The following information
is related to the compensation earned in fiscal 2024 and 2023 by all Chief Executive Officers (principal executive officers) serving
during the last fiscal year and the other most highly compensated executive officers serving at the end of the last fiscal year whose
compensation exceeded $100,000. We refer to these individuals as our “Named Executive Officers” or “NEOs”.

<div align='center'>Summary Compensation Table</div>

| Name and Principal Position (a) |     | Year 
 (b)  |      |     | Salary    
 ($)(c)(1) |         |     | Bonus     
 ($)(d)(2) |        |     | Stock  
 Awards 
 ($)(e) |   |     | Option 
 Awards 
 ($)(f) |   |     | All other Compensation ($)(i)(3) |        |     | Total  
 ($)(j) |         |
| Terence Wise                    |     |      | 2024 |     |           | 240,750 |     |           |      – |     |        | – |