Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 47

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 47
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 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 party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether   
 civil, criminal, administrative or investigative, except an action by or in the right of the corporation, by reason of the fact that the       
 person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as          
 a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses,        
 including attorneys’ fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection        
 with the action, suit or proceeding if the person is not liable or acted in good faith in a manner which he or she reasonably believed         
 to be in or not opposed to the best interest of the corporation and, with respect to any criminal action or proceeding, had no reasonable      
 cause to believe the conduct was unlawful.                                                                                                     
 With respect to actions by or in the right of the                                                                                              
 corporation, no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged      
 to be liable to the corporation unless and