Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 48

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 48
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 in such contract or transaction and as to any such common directorship, officership or financial interest are disclosed in good faith or known to the shareholders entitled to vote thereon, and such contract or transaction is approved by vote of such shareholders; or (3) the transaction is fair and reasonable to the corporation at the time it is approved. |     | Under Nevada law, a contract or transaction between a corporation and one or more of its directors or officers, or between a corporation and any other organization in which one or more of its directors or officers are directors or officers, or are financially interested, is not void or voidable solely for that reason, if one or more of the following circumstances exist: (1) the director’s or officer’s interest is known to the board of directors and the transaction is approved by the board in good faith without counting the vote or votes of the interested director or officer; (2) the common interest is known to the shareholders, and they approve or ratify the transaction in good faith by a majority vote of shareholders; (3) the common interest is not known to the interested director or officer at the time the transaction is brought before the board; or (4) the transaction is fair to the corporation at the time it is authorized or approved. |

| 38 |

| Class Voting in Certain Corporate Transactions |     | New York law does not generally require class voting, except in connection with certain amendments to the corporation’s certificate of incorporation. |     | Nevada law likewise does not generally require class voting, except in connection with certain amendments to the corporation’s certificate of incorporation. |
| Appraisal Rights                               |     | Under the NYBCL, dissenting holders of common stock                                                                                                   
 who follow prescribed statutory procedures are entitled to appraisal rights in certain circumstances, including any plan of merger or                 
 consolidation to which the corporation is a party, a share exchange, any sale, lease, exchange or other disposition of all or substantially           
 all of the assets of a corporation which requires shareholder approval except that the right shall not be available: (i) to a shareholder             
 of the parent corporation in a merger between a parent and a subsidiary corporations; or (ii) to a shareholder of the surviving corporation           
 in a merger authorized by the NYBCL, other than a merger specified above, unless such merger effects one or more of the changes specified             
 in subparagraph 806(b)(6) of NYBCL in the rights of the shares held by such shareholder; or (iii) to a shareholder