Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 95

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 95
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, through
intentional misconduct, fraud, or a knowing violation of law, the Indemnitee’s fiduciary duties as a director or officer to act
in good faith and in the interests of the Corporation.

(b) Acted in good faith and
in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal
action or proceeding, had no reasonable cause to believe the Indemnitee’s conduct was unlawful.

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Section 5.2. INDEMNIFICATION IN ACTIONS BY OR ON BEHALF OF THE CORPORATION. The Company may, to the extent permitted by the Nevada Corporations Act, indemnify any Indemnitee
against expenses, including attorneys’ fees and amounts paid in settlement, actually and reasonably incurred by the Indemnitee in
connection with any threatened, pending, or completed suit or action by or in the right of the Company to which the Indemnitee is, was,
or is threatened to be made a party by reason of being an Indemnitee, if the Indemnitee either:

(a) Did not breach, through
intentional misconduct, fraud, or a knowing violation of law, the Indemnitee’s fiduciary duties as a director or officer to act
in good faith and in the interests of the Corporation.

(b) Acted in good faith and
in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation.

Section 5.3. INDEMNIFICATION AGAINST EXPENSES.
The Company shall, to the extent permitted by the Nevada Corporations Act, indemnify any Indemnitee who was successful, on the merits
or otherwise, in the defense of any action, suit, proceeding, or claim described in Sections 5.1 and 5.2, against expenses (including
attorneys’ fees) actually and reasonably incurred by the Indemnitee in connection with the defense.

Section 5.4. NON-EXCLUSIVITY OF INDEMNIFICATION RIGHTS. The rights of indemnification set out in this Article V shall be in addition to and not exclusive of any other rights to which
any Indemnitee may be entitled under the Articles of Incorporation, Bylaws, any other agreement with the Corporation, any action taken
by the disinterested directors or stockholders of the Corporation, or otherwise. The