Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 101

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 101
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, a Performance Share Award, or a Performance Cash Award.

“Award Agreement”
means a written agreement, contract, certificate or other instrument or document evidencing the terms and conditions of an individual
Award granted under the Plan which may, in the discretion of the Company, be transmitted electronically to any Participant. Each
Award Agreement shall be subject to the terms and conditions of the Plan.

“Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating
the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act),
such “person” shall be deemed to have beneficial ownership of all securities that such “person” has the
right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only
after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding
meaning.

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“Board”
means the Board of Directors of the Company, as constituted at any time.

“Cause”
will have the meaning ascribed to such term in the applicable Award Agreement or, if no such definition is provided therein, in
any written agreement between the Participant and the Company defining such term and, in the absence of such agreement, such term
means, with respect to a Participant, the occurrence of any of the following events: (i) such Participant's commission of any felony
or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States, any state thereof, or any applicable
foreign jurisdiction; (ii) such Participant's attempted commission of, or participation in, a fraud or act of dishonesty against
the Company or any Affiliate; (iii) such Participant's intentional, material violation of any contract or agreement between the
Participant and the Company or any Affiliate or of any statutory or common law duty owed to the Company or any Affiliate; (iv)
such Participant's unauthorized use or disclosure of the Company's or any Affiliate's confidential information or trade secrets;
or (v) such Participant's gross misconduct. The determination that a termination of the Participant's Continuous Service is either
for Cause or without Cause will be made by the Board or the Committee, in its sole discretion. Any determination by the Board or
Committee that the Continuous Service of a Participant was terminated with or without Cause for