Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 83

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 83
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 final disposition of the action,
suit or proceeding, upon receipt of an undertaking by or on behalf of the officer or director to repay the amount if it is ultimately
determined by a court of competent jurisdiction that he or she is not entitled to be indemnified by the Corporation. To the extent that
an officer or director is successful on the merits in defense of any such action, suit or proceeding, or in the defense of any claim,
issue or matter therein, the Corporation shall indemnify him or her against expenses, including attorneys’ fees, actually and reasonably
incurred by him or her in connection with the defense. Notwithstanding anything to the contrary contained herein or in the bylaws, no
director or officer may be indemnified for expenses incurred in defending any threatened, pending, or completed action, suit or proceeding
(including without limitation, an action, suit or proceeding by or in the right of the Corporation), whether civil, criminal, administrative
or investigative, that such director or officer incurred in his or her capacity as a stockholder.

Section 5. Repeal And Conflicts.Any repeal or modification of Sections 3 or 4 above approved by the stockholders of the Corporation shall be prospective only, and
shall not adversely affect any limitation on the liability of a director or officer of the Corporation existing as of the time of such
repeal or modification. In the event of any conflict between Sections 3 or 4 above and any other Article of the Articles, the terms and
provisions of Sections 3 or 4 above shall control.

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<div align='center'>ARTICLE V

COMBINATIONS WITH INTERESTED STOCKHOLDERS</div>

At such time, if any, as the Corporation becomes
a “resident domestic corporation,” as that term is defined in NRS 78.427, the Corporation shall not be subject to, or governed
by, any of the provisions in NRS 78.411 to 78.444, inclusive, as may be amended from time to time, or any successor statute.

<div align='center'>ARTICLE VI

BYLAWS</div>

The board of directors is expressly granted the
exclusive power to make, amend, alter, or repeal the bylaws of the Corporation pursuant to NRS 78.120.

The undersigned, Chief Financial
Officer, has been authorized to execute the foregoing certificate by resolution of the Board of Directors, adopted unanimously by a written
consent in lieu of