UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, the Board of Directors (the “Board”) of Forward Industries, Inc. (the “Company”) appointed Kathleen Weisberg as the Company’s Chief Financial Officer, Treasurer and Secretary, replacing Anthony Camarda in each such role, effective July 1, 2023. In connection with her appointment, on June 28, 2023, the Company entered into a three-year Employment Agreement with Ms. Weisberg. Pursuant to her Employment Agreement, Ms. Weisberg will be paid an annual base salary of $250,000 and is eligible to earn a bonus based on certain fiscal targets and performance metrics set by the Compensation Committee of the Board in consultation with the Chief Executive Officer. The initial six months of the Employment Agreement will be regarded as a probationary period (the “Probationary Period”). During the Probationary Period, either party may terminate Employment Agreement on a basis of “no-fault”.
The description of Ms. Weisberg’s Employment Agreement does not purport to be complete and is qualified in its entirety by reference to Exhibit 10.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Exhibit |
| 10.1 | Employment Agreement between Forward Industries, Inc. and Kathleen Weisberg, dated July 1, 2023 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FORWARD INDUSTRIES, INC. | |||
| Date: June 30, 2023 | By: | /s/ Anthony Camarda | |
| Name: Anthony Camarda | |||
| Title: Chief Financial Officer | |||
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