Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 48

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 48
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 action, suit or proceeding if  (a) the person acted in good faith and in a manner the person reasonably believed to be in or             
 not opposed to the best interests of the corporation, and (b) with respect to any criminal action or proceeding, had no reasonable cause      
 to believe the person’s conduct was unlawful.                                                                                                 
 With respect to actions by or in the right of the                                                                                             
 corporation, no indemnification shall be made with respect to (1) a threatened action, or a pending action which is settled or otherwise      
 disposed of, or (2) any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation, unless       
 and only to the extent that the court in which the action was brought, or, if no action was brought, any court of competent jurisdiction,     
 determines upon application that, in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity     
 for such portion of the settlement amount and expenses as the court deems proper.                                                             
 The New York Bylaws authorize indemnification to the                                                                                          
 fullest extent permitted by law. Notwithstanding such indemnification, no indemnification is permitted if (i) a judgment or other final       
 adjudication adverse to such person establishes that his or her acts were committed in bad faith or were the result of active and deliberate  
 dishonesty and were material to the cause of action so adjudicated, or that he or she personally gained in fact a financial profit or         
 other advantage to which he or she was not legally entitled; (ii) there has been a settlement approved by the court and the indemnification   
 would be inconsistent with any condition with respect to indemnification expressly imposed by the court in approving the settlement; and      
 (iii) in the event of a proceeding by or in the right of the corporation to procure a judgment in its favor, no indemnification may be        
 made if it is settled or otherwise disposed of or such person shall have been finally adjudged liable to the corporation, unless (and         
 only to the extent that) the court in which the action was brought, or if no action was brought, any court of competent jurisdiction,         
 determines upon application that, in view of all circumstances of the case, such person is fairly and reasonably entitled to indemnity        
 for such portion of the settlement amount and expenses as the court deems proper.                                                             |     | Under Nevada law, a corporation may indemnify any                                                                                              
 person who was or is a