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<title>Forward 8-K</title>


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<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>UNITED STATES</b></p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">Washington, D.C. 20549</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="4">FORM
8-K</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">CURRENT REPORT</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>
<font size="2">Date of Report (Date of earliest event
reported):&nbsp;</font><b><u><font style="font-size: 10.0pt">June 25</font><font size="2">, 2015</font></u></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;border-collapse:collapse'>
 <tr>
  <td width="80%" colspan=3 valign=bottom style='width:80.0%;border:none;
  border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="5">Forward Industries, Inc.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="80%" colspan=3 valign=bottom style='width:80.0%;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">(Exact name of registrant as specified in its
  charter)</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign=bottom style='width:27.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="27%" valign=bottom style='width:27.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="27%" valign=bottom style='width:27.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign=bottom style='width:27.0%;border:none;border-bottom:
  solid black 1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">New York</font></b></p>
  </td>
  <td width="27%" valign=bottom style='width:27.0%;border:none;border-bottom:
  solid black 1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">000-6669</font></b></p>
  </td>
  <td width="27%" valign=bottom style='width:27.0%;border:none;border-bottom:
  solid black 1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">13-1950672</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign=bottom style='width:27.0%;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">(State or other jurisdiction</font></p>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">of incorporation)</font></p>
  </td>
  <td width="27%" valign=bottom style='width:27.0%;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">(Commission</font></p>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">File Number)</font></p>
  </td>
  <td width="27%" valign=bottom style='width:27.0%;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">(IRS Employer</font></p>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Identification No.)</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign=bottom style='width:27.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="27%" valign=bottom style='width:27.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="27%" valign=bottom style='width:27.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="53%" colspan=2 valign=bottom style='width:53.0%;border:none;
  border-bottom:solid black 1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">477 Rosemary Ave.&nbsp;&nbsp;Ste. 219</font></b></p>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">West Palm Beach, FL</font></b></p>
  </td>
  <td width="27%" valign=bottom style='width:27.0%;border:none;border-bottom:
  solid black 1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">33401</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="53%" colspan=2 valign=bottom style='width:53.0%;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">(Address of principal executive offices)</font></p>
  </td>
  <td width="27%" valign=bottom style='width:27.0%;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">(Zip Code)</font></p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Registrant&#146;s telephone number, including area code: </font> <b><u>
<font size="2">(561)
465-0030</font></u></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;border-collapse:collapse'>
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  <td width="80%" valign=bottom style='width:80.0%;border:none;border-bottom:
  solid black 1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="80%" valign=bottom style='width:80.0%;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">(Former name or former address, if changed since
  last report.)</font></p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (<i>see</i> General Instruction A.2. below):</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&#9744;Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&#9744;Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&#9744;Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&#9744;Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:gray' align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'><b><font style="font-size: 10.0pt">Item
1.01. Entry into a Material Definitive Agreement.</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">On June 26, 2015, Forward Industries, Inc. (the
&#147;Company&#148;) entered into a claim release (the &#147;Claim Release&#148;) with Zurich
American Insurance Company (&#147;ZAIC&#148;) with respect to the settlement agreement
and mutual release (the &#147;Settlement Agreement&#148;) previously disclosed regarding
a lawsuit filed by James McKenna, the Company&#146;s former Chief Financial Officer,
on August 26, 2014 in the U.S. District Court for the Southern District of New
York against the Company and then-directors Frank LaGrange Johnson, Robert
Garrett, John F. Chiste, Timothy Gordon and Owen P.J. King, alleging purported
claims of retaliation for whistleblowing under the Dodd-Frank Act, breach of
contract and breach of the covenant of good faith and fair dealing all as
against the Company, and a single claim for tortious interference with contract
as against the individual defendants. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'>&nbsp;</p>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:0.5in; margin-left:0in; margin-right:0in'><font style="font-size: 10.0pt">Pursuant to an Employment Practices Liability Policy (the
&#147;Policy&#148;) issued by ZAIC that affords coverage for employment-related Wrongful
Termination, Discrimination, Sexual Harassment and Workplace Torts liability,
under which the Company is an insured, the Company submitted a claim in which
it sought coverage for the aforementioned Settlement Agreement in the amount of
$425,000, representing reimbursement of a portion of the settlement amounts set
forth in the Settlement Agreement. Such sum represents fully ZAIC&#146;s coverage
obligations under the Policy with respect to the Settlement Agreement.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'><b><font style="font-size: 10.0pt">Item
5.02. Departure of Directors or Certain Officers; Election
of Directors, Appointment of Certain Officers, Compensatory Arrangements of
Certain Officers.</font></b></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt'><i><u><font style="font-size: 10.0pt">Term Expiration
of Interim Chief Executive Officer, Michael Luetkemeyer</font></u></i></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt;text-indent:0.5in'><font style="font-size: 10.0pt">On
June 29, 2015, the Company announced that Michael Luetkemeyer will be ending
his term as the Company&#146;s Interim Chief Executive Officer (&#147;Interim CEO&#148;) in
connection with the upcoming expiration of the employment agreement dated
January 20, 2015 between the Company and Mr.&nbsp;Luetkemeyer (the &#147;Luetkemeyer
Employment Agreement&#148;). The term of the Luetkemeyer Employment Agreement is set
to expire on June 30, 2015. </font></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt;text-indent:0.5in'><font style="font-size: 10.0pt">No
supplementary written employment separation agreement and release in connection
with Mr. Luetkemeyer&#146;s departure, apart from those provisions contained in the Luetkemeyer
Employment Agreement, will be concluded between Mr. Luetkemeyer and the
Company. Mr. Luetkemeyer will remain a member of the Board of Directors (the
&#147;Board&#148;) of the Company.</font></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt;text-indent:0.5in'><font style="font-size: 10.0pt">On
June 29, 2015, the Company issued a press release announcing the departure of
Mr. Luetkemeyer.</font></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt;text-indent:0.5in'><font style="font-size: 10.0pt">A
copy of the press release is attached as Exhibit 99.1 to this Current Report on
Form 8-K and incorporated herein by reference.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'><i><u><font style="font-size: 10.0pt">Appointment
of Chief Executive Officer, Terence Wise</font></u></i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">Effective July 1, 2015, the Board of the Company
appointed Terence Wise, 67, as its Chief Executive Officer (&#147;CEO&#148;). &nbsp;Mr. Wise
has served as a director of Forward since February 2012 and was appointed
Chairman of the Board in January 2015. He has over 30 years of experience in
the furniture, plastics, luggage and accessories industries. Mr. Wise serves as
principal and Chairman of The Justwise Group Limited, which he founded in 1977,
a company that specializes in the procurement of consumer durable products from
Asia and is an established supplier to a list of major U.K. multi-channel
retailers. Mr. Wise also serves as a principal of Forward Industries
Asia-Pacific Corporation (f/k/a Seaton Global Corporation) (&#147;Forward China&#148;)
and has significant shareholdings in two manufacturing plants in China.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">There are no family relationships between Mr. Wise and
any director, executive officer or person nominated or chosen by the Company to
become a director or executive officer. </font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">On March 12, 2012, the Company entered into a Buying
Agency and Supply Agreement with Forward China, dated as of March 7, 2012, as
amended and restated on December 20, 2012 &nbsp;(the &#147;Supply Agreement&#148;), pursuant
to which Forward China acts as the Company&#146;s exclusive buying agent and supplier
in the Asia Pacific region. On March 13, 2014, the Company entered into
Amendment No. 1 to the Supply Agreement, dated as of March 11, 2014, extending
the term until March 11, 2015, and amending certain other provisions as
provided therein. Under such amended agreement, the Company has agreed to pay
Forward China $100,000 per month plus 4% of the adjusted gross profit of
products ordered and shipped thereunder in consideration for Forward China&#146;s
services. On February 18, 2015, the Company entered into Amendment No. 2 to the
Supply Agreement, dated as of February 17, 2015, extending the term of the
Supply Agreement, as amended, until September 11, 2015, during which time the
parties to the Supply Agreement intend to negotiate towards a long-term renewal
of the underlying arrangement.&nbsp; </font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">Mr. Wise beneficially owns 1,608,541 shares of
Forward&#146;s Common Stock, representing 19.0% of the issued and outstanding shares
of Common Stock (based on an aggregate of 8,443,046 shares of Common Stock
outstanding as reported in Forward's Annual Report on Form 10-K filed with the
Securities and Exchange Commission on December 10, 2014), including 10,000
shares of Common Stock currently exercisable and 15,000 shares of restricted
Common Stock that vested on December 11, 2014.&nbsp; Mr. Wise has sole voting power
over all shares owned by him and sole dispositive power over all the shares
owned by him.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'>&nbsp;</p>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">There are no other transactions or any currently
proposed transaction (other than Mr. Wise&#146;s compensation and the foregoing) in
which the Company was or is to be a party and the amount involved exceeds
$120,000, and in which Mr. Wise had or will have a direct or indirect material
interest.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">On June 29, 2015, the Company issued a press release
announcing the appointment of Mr. Wise to the position of CEO.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">A copy of the press release is attached as Exhibit
99.1 to this Current Report on Form 8-K and incorporated herein by reference.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">On June 26, 2015, in connection with the appointment
of Mr. Wise as CEO, the Company entered into an employment agreement with Mr. Wise
(the &#147;Wise Employment Agreement&#148;).</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">Under the Wise Employment Agreement, Mr. Wise is
employed as the Company&#146;s Chief Executive Officer, effective as of&nbsp; July 1,
2015, at an annual salary of $300,000. The Wise Employment Agreement shall
remain in effect until July 1, 2017 (the &#147;Term&#148;), unless earlier terminated or
extended. Mr. Wise has additionally agreed to forego directors&#146; fees, stock
grants or other compensation for his service as Chairman of the Company&#146;s Board
for the duration of the Term.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">The Wise Employment Agreement may be terminated prior
to the expiration of the Term by either party upon 30 days&#146; written notice. In
the event either party provides such notice, Mr. Wise would be entitled to
receive payment of his annual salary accrued up to and including the date of
termination or resignation and payment of any unreimbursed expenses, in
accordance with the Company&#146;s business reimbursement policy. At the election of
the Board, the Wise Employment Agreement may be extended at any time for any
such additional term as determined in the Board&#146;s sole discretion.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">The Wise Employment Agreement binds Mr. Wise to
customary confidentiality and intellectual property covenants.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">The foregoing summary of the Wise Employment Agreement
between the Company and Mr. Wise does not purport to be complete and is subject
to, and qualified in its entirety by, the full text of the Wise Employment Agreement,
which is attached hereto as Exhibit 10.1 and is incorporated by reference into
this Current Report on Form 8-K.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'><i><u><font style="font-size: 10.0pt">Appointment
of Chief Financial Officer, Michael Matte</font></u></i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">Effective June 22, 2015, the Board of the Company
appointed Michael Matte, 56, as its Chief Financial Officer (&#147;CFO&#148;). Prior to
joining the Company, Mr. Matte served as the CFO and Chief Accounting Officer of
Aspen Group, Inc., an&nbsp;online distance-learning education service in the
United States, until March 2014. Mr. Matte also served as an Executive Vice
President of Finance and CFO of MeetMe, Inc. (formerly, QuePasa Corp.) from
October 2007 to March 2013 and as the CFO for Cyberguard from February 2001 to
April 2006. Mr. Matte currently serves on the Board of Directors of Coqui Radio
Pharmaceutical, a position he has held since June 2013, and previously served
on the Board of Directors of Iris International from January 2004 until April
2012. Mr. Matte has also served as a director for QuePasa Corp. from July 2006
until October 2007 and for Geltec Solutions from September 2008 until October
2009. Mr. Matte began his career at PricewaterhouseCoopers where he served as a
senior audit manager. </font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">There are no family relationships between Mr. Matte
and any director, executive officer or person nominated or chosen by the
Company to become a director or executive officer. There are no transactions or
any currently proposed transaction (other than Mr. Matte&#146;s compensation) in
which the Company was or is to be a party and the amount involved exceeds
$120,000, and in which Mr. Matte had or will have a direct or indirect material
interest.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'>&nbsp;</p>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">On June 29, 2015, the Company issued a press release
announcing the appointment of Mr. Matte to the position of CFO.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">A copy of the press release is attached as Exhibit
99.1 to this Current Report on Form 8-K and incorporated herein by reference.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">On June 25, 2015, in connection with the appointment
of Mr. Matte as CFO, the Company entered into an employment agreement with Mr. Matte
(the &#147;Matte Employment Agreement&#148;).</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">Under the Employment Agreement, Mr. Matte is employed
as the Company&#146;s Chief Financial Officer, effective as of &nbsp;June 22, 2015, at an
annual salary of $225,000. Mr. Matte will be eligible to receive a bonus based
on the terms of the bonus plan and performance metrics that the Compensation
Committee of the Board adopts, in its sole discretion, from year to year, which
may range in an amount equal to or between 0 and 50% of Mr. Matte&#146;s annual
salary and may be awarded in a combination of cash, restricted stock,
restricted stock units and/or other equity. The Company will also grant to Mr.
Matte an option to purchase 50,000 shares of Company common stock under the
Company's 2011 Long Term Incentive Plan. </font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">The Matte Employment Agreement shall remain in effect
until June 22, 2018, unless earlier terminated pursuant to the terms therein.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">The foregoing summary of the Matte Employment Agreement
between the Company and Mr. Matte does not purport to be complete and is
subject to, and qualified in its entirety by, the full text of the Matte Employment
Agreement, which is attached hereto as Exhibit 10.2 and is incorporated by
reference into this Current Report on Form 8-K.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'><i><u><font style="font-size: 10.0pt">Appointment
of Director, Sharon Hrynkow</font></u></i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">On June 25, 2015, the Board voted to expand the size
of the Board from six to seven directors and appointed a new director, Dr. Sharon
Hrynkow, to serve until her successor has been duly elected and qualified. The
Board also appointed Dr. Hrynkow to serve on the Company&#146;s Audit Committee and Nominating
&amp; Governance Committee. Dr. Hrynkow has not entered into any transactions
with the Company since the beginning of the Company&#146;s last fiscal year that are
reportable under Item 404(a) of Regulation S-K.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">Dr. Hrynkow, 54, currently serves as the President of
the Global Virus Network, a coalition of top medical virologists supporting the
research and treatment of viral disease. Dr. Hrynkow is also the Founder and
Managing Partner of Global Health Consulting, LLC and a member of the
Scientific Advisory Board of CTD Holdings, Inc., a publicly traded&nbsp; family of biotechnology
growth companies. Dr. Hrynkow previously spent over 20 years in various
leadership positions at the National Institutes of Health and the U.S.
Department of State, managing programs and policies addressing HIV/AIDS,
emerging infectious disease, the health impacts of climate change, global
health research and training, and partnership development.&nbsp; She also served as
a U.S. Delegate at the United Nations Commission on the Status of Women&#146;s 55th
session and is an elected Fellow of the Council on Foreign Relations and the
American Association for the Advancement of Science. Dr. Hrynkow holds a B.A. from
Rhode Island College and a Ph.D. in Neuroscience from the University of
Connecticut.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'><b><font style="font-size: 10.0pt">Item
8.01. Other Events</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">In light of Mr. Wise&#146;s increased responsibilities at
the Company, the Board has appointed Mr. Scott Fine to serve as Lead Director of
the Board of the Company. The Lead Director will chair meetings of the
non-management directors and will assist as necessary on board agendas to
assure that all stakeholders&#146; interests are represented appropriately. In the
absence of the Chairman, the Lead Director will chair meetings of the Board of
Directors.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'>&nbsp;</p>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'><b><font style="font-size: 10.0pt">Item
9.01. Financial Statements and Exhibits.</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'><font style="font-size: 10.0pt">(d)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0 width=631
 style='width:100%;border-collapse:collapse'>
 <tr>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0; margin-left:0in; margin-right:0in'><font style="font-size: 10.0pt">Exhibit
  10.1</font></p>
  </td>
  <td style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' valign="top">
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0; margin-left:0in; margin-right:0in'><font style="font-size: 10.0pt">Employment
  Agreement, effective as of July 1, 2015, by and between Forward Industries,
  Inc. and Terence Wise.</font></p>
  </td>
 </tr>
 <tr>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  &nbsp;</td>
  <td style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' valign="top">
  &nbsp;</td>
 </tr>
 <tr>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0; margin-left:0in; margin-right:0in'><font style="font-size: 10.0pt">Exhibit
  10.2</font></p>
  </td>
  <td style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' valign="top">
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0; margin-left:0in; margin-right:0in'><font style="font-size: 10.0pt">Employment
  Agreement, effective as of June 22, 2015, by and between Forward Industries,
  Inc. and Michael Matte.</font></p>
  </td>
 </tr>
 <tr>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  &nbsp;</td>
  <td style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' valign="top">
  &nbsp;</td>
 </tr>
 <tr>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' nowrap>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0; margin-left:0in; margin-right:0in'><font style="font-size: 10.0pt">Exhibit
  99.1</font></p>
  </td>
  <td style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' valign="top">
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0; margin-left:0in; margin-right:0in'><font style="font-size: 10.0pt">Press
  Release, dated June 29, 2015.</font></p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'><b><font style="font-size: 10.0pt">Forward
Looking Statements</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;text-indent:.5in'><font style="font-size: 10.0pt">This Current Report on Form 8-K contains certain &#147;forward-looking
statements&#148; within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
that reflect the Company&#146;s current expectations and projections about its
future results, performance, prospects and opportunities.&nbsp; The Company has
tried to identify these forward-looking statements by using words such as &#147;may,&#148;
&#147;should,&#148; &#147;expect,&#148; &#147;hope,&#148; &#147;anticipate,&#148; &#147;believe,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;estimate&#148;
and similar expressions.&nbsp; These forward-looking statements are based on
information currently available to the Company and are subject to a number of
risks, uncertainties and other factors that could cause its actual results,
performance, prospects or opportunities to differ materially from those
expressed in, or implied by, these forward-looking statements.&nbsp; No assurance
can be given that the actual results will be consistent with the
forward-looking statements.&nbsp; Investors should read carefully the factors
described in the &#147;Risk Factors&#148; section of the Company&#146;s filings with the SEC,
including the Company&#146;s Form 10-K for the year ended September 30, 2014 for
information regarding risk factors that could affect the Company&#146;s results.&nbsp;
Except as otherwise required by Federal securities laws, the Company undertakes
no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, changed circumstances or
any other reason.</font></p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp; </font> </p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:gray' align=center>

</div>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp; </font> </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:.5in'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">SIGNATURES</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:.5in'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif";text-indent:.5in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">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.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;border-collapse:collapse'>
 <tr>
  <td width="39%" valign=top style='width:45%;padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="39%" colspan=3 valign=top style='width:39.0%;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">FORWARD
  INDUSTRIES, INC.</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign=top style='width:45%;padding:0in; '>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">&nbsp; </font> </p>
  </td>
  <td width="39%" colspan=3 valign=top style='width:39.0%;padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">&nbsp; </font> </p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign=top style='width:45%;padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	<font size="2">Dated:&nbsp;&nbsp;</font><font style="font-size: 10.0pt">June 29,</font><font size="2"> 2015</font></p>
  </td>
  <td valign=top style='width:3%;padding:0in; '>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">By:</font></p>
  </td>
  <td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:43%;border-bottom:1.5pt solid black;padding:0in; '>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">/s/ Michael
  Luetkemeyer</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign=top style='width:45%;padding:0in; '>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">&nbsp; </font> </p>
  </td>
  <td valign=top style='width:3%;padding:0in; '>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">&nbsp; </font> </p>
  </td>
  <td valign=top style='width:4%;padding:0in; '>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Name:</font></p>
  </td>
  <td valign=top style='width:40%;padding:0in; '>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Michael
  Luetkemeyer</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign=top style='width:45%;padding:0in; '>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">&nbsp; </font> </p>
  </td>
  <td valign=top style='width:3%;padding:0in; '>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">&nbsp; </font> </p>
  </td>
  <td valign=top style='width:4%;padding:0in; '>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman","serif"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Title:</font></p>
  </td>
  <td valign=top style='width:40%;padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 10.0pt">Interim President</font></p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

</div>

<p style="font-size: 12.0pt; font-family: 'Times New Roman',serif; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
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{"company-data": {"conformed-name": "FORWARD INDUSTRIES INC", "cik": "0000038264", "assigned-sic": "3089", "irs-number": "131950672", "state-of-incorporation": "NY", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34780", "film-number": "15957027"}, "business-address": {"street1": "1801 GREEN ROAD", "street2": "SUITE E", "city": "POMPANO BEACH", "state": "FL", "zip": "33064", "phone": "9544199544"}, "mail-address": {"street1": "1801 GREEN RD", "street2": "SUITE E", "city": "POMPANO BEACH", "state": "FL", "zip": "33064"}, "former-company": {"former-conformed-name": "PROGRESS HEAT SEALING CO INC", "date-changed": "19721111"}}
Forward 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event
reported):
June 25
, 2015
Forward Industries, Inc.
(Exact name of registrant as specified in its
  charter)
New York
000-6669
13-1950672
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
477 Rosemary Ave.  Ste. 219
West Palm Beach, FL
33401
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(561)
465-0030
(Former name or former address, if changed since
  last report.)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (
see
General Instruction A.2. below):
☐Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
1.01. Entry into a Material Definitive Agreement.
On June 26, 2015, Forward Industries, Inc. (the
"Company") entered into a claim release (the "Claim Release") with Zurich
American Insurance Company ("ZAIC") with respect to the settlement agreement
and mutual release (the "Settlement Agreement") previously disclosed regarding
a lawsuit filed by James McKenna, the Company's former Chief Financial Officer,
on August 26, 2014 in the U.S. District Court for the Southern District of New
York against the Company and then-directors Frank LaGrange Johnson, Robert
Garrett, John F. Chiste, Timothy Gordon and Owen P.J. King, alleging purported
claims of retaliation for whistleblowing under the Dodd-Frank Act, breach of
contract and breach of the covenant of good faith and fair dealing all as
against the Company, and a single claim for tortious interference with contract
as against the individual defendants.
Pursuant to an Employment Practices Liability Policy (the
"Policy") issued by ZAIC that affords coverage for employment-related Wrongful
Termination, Discrimination, Sexual Harassment and Workplace Torts liability,
under which the Company is an insured, the Company submitted a claim in which
it sought coverage for the aforementioned Settlement Agreement in the amount of
$425,000, representing reimbursement of a portion of the settlement amounts set
forth in the Settlement Agreement. Such sum represents fully ZAIC's coverage
obligations under the Policy with respect to the Settlement Agreement.
Item
5.02. Departure of Directors or Certain Officers; Election
of Directors, Appointment of Certain Officers, Compensatory Arrangements of
Certain Officers.
Term Expiration
of Interim Chief Executive Officer, Michael Luetkemeyer
On
June 29, 2015, the Company announced that Michael Luetkemeyer will be ending
his term as the Company's Interim Chief Executive Officer ("Interim CEO") in
connection with the upcoming expiration of the employment agreement dated
January 20, 2015 between the Company and Mr. Luetkemeyer (the "Luetkemeyer
Employment Agreement"). The term of the Luetkemeyer Employment Agreement is set
to expire on June 30, 2015.
No
supplementary written employment separation agreement and release in connection
with Mr. Luetkemeyer's departure, apart from those provisions contained in the Luetkemeyer
Employment Agreement, will be concluded between Mr. Luetkemeyer and the
Company. Mr. Luetkemeyer will remain a member of the Board of Directors (the
"Board") of the Company.
On
June 29, 2015, the Company issued a press release announcing the departure of
Mr. Luetkemeyer.
A
copy of the press release is attached as Exhibit 99.1 to this Current Report on
Form 8-K and incorporated herein by reference.
Appointment
of Chief Executive Officer, Terence Wise
Effective July 1, 2015, the Board of the Company
appointed Terence Wise, 67, as its Chief Executive Officer ("CEO").  Mr. Wise
has served as a director of Forward since February 2012 and was appointed
Chairman of the Board in January 2015. He has over 30 years of experience in
the furniture, plastics, luggage and accessories industries. Mr. Wise serves as
principal and Chairman of The Justwise Group Limited, which he founded in 1977,
a company that specializes in the procurement of consumer durable products from
Asia and is an established supplier to a list of major U.K. multi-channel
retailers. Mr. Wise also serves as a principal of Forward Industries
Asia-Pacific Corporation (f/k/a Seaton Global Corporation) ("Forward China")
and has significant shareholdings in two manufacturing plants in China.
There are no family relationships between Mr. Wise and
any director, executive officer or person nominated or chosen by the Company to
become a director or executive officer.
On March 12, 2012, the Company entered into a Buying
Agency and Supply Agreement with Forward China, dated as of March 7, 2012, as
amended and restated on December 20, 2012  (the "Supply Agreement"), pursuant
to which Forward China acts as the Company's exclusive buying agent and supplier
in the Asia Pacific region. On March 13, 2014, the Company entered into
Amendment No. 1 to the Supply Agreement, dated as of March 11, 2014, extending
the term until March 11, 2015, and amending certain other provisions as
provided therein. Under such amended agreement, the Company has agreed to pay
Forward China $100,000 per month plus 4% of the adjusted gross profit of
products ordered and shipped thereunder in consideration for Forward China's
services. On February 18, 2015, the Company entered into Amendment No. 2 to the
Supply Agreement, dated as of February 17, 2015, extending the term of the
Supply Agreement, as amended, until September 11, 2015, during which time the
parties to the Supply Agreement intend to negotiate towards a long-term renewal
of the underlying arrangement.
Mr. Wise beneficially owns 1,608,541 shares of
Forward's Common Stock, representing 19.0% of the issued and outstanding shares
of Common Stock (based on an aggregate of 8,443,046 shares of Common Stock
outstanding as reported in Forward's Annual Report on Form 10-K filed with the
Securities and Exchange Commission on December 10, 2014), including 10,000
shares of Common Stock currently exercisable and 15,000 shares of restricted
Common Stock that vested on December 11, 2014.  Mr. Wise has sole voting power
over all shares owned by him and sole dispositive power over all the shares
owned by him.
There are no other transactions or any currently
proposed transaction (other than Mr. Wise's compensation and the foregoing) in
which the Company was or is to be a party and the amount involved exceeds
$120,000, and in which Mr. Wise had or will have a direct or indirect material
interest.
On June 29, 2015, the Company issued a press release
announcing the appointment of Mr. Wise to the position of CEO.
A copy of the press release is attached as Exhibit
99.1 to this Current Report on Form 8-K and incorporated herein by reference.
On June 26, 2015, in connection with the appointment
of Mr. Wise as CEO, the Company entered into an employment agreement with Mr. Wise
(the "Wise Employment Agreement").
Under the Wise Employment Agreement, Mr. Wise is
employed as the Company's Chief Executive Officer, effective as of  July 1,
2015, at an annual salary of $300,000. The Wise Employment Agreement shall
remain in effect until July 1, 2017 (the "Term"), unless earlier terminated or
extended. Mr. Wise has additionally agreed to forego directors' fees, stock
grants or other compensation for his service as Chairman of the Company's Board
for the duration of the Term.
The Wise Employment Agreement may be terminated prior
to the expiration of the Term by either party upon 30 days' written notice. In
the event either party provides such notice, Mr. Wise would be entitled to
receive payment of his annual salary accrued up to and including the date of
termination or resignation and payment of any unreimbursed expenses, in
accordance with the Company's business reimbursement policy. At the election of
the Board, the Wise Employment Agreement may be extended at any time for any
such additional term as determined in the Board's sole discretion.
The Wise Employment Agreement binds Mr. Wise to
customary confidentiality and intellectual property covenants.
The foregoing summary of the Wise Employment Agreement
between the Company and Mr. Wise does not purport to be complete and is subject
to, and qualified in its entirety by, the full text of the Wise Employment Agreement,
which is attached hereto as Exhibit 10.1 and is incorporated by reference into
this Current Report on Form 8-K.
Appointment
of Chief Financial Officer, Michael Matte
Effective June 22, 2015, the Board of the Company
appointed Michael Matte, 56, as its Chief Financial Officer ("CFO"). Prior to
joining the Company, Mr. Matte served as the CFO and Chief Accounting Officer of
Aspen Group, Inc., an online distance-learning education service in the
United States, until March 2014. Mr. Matte also served as an Executive Vice
President of Finance and CFO of MeetMe, Inc. (formerly, QuePasa Corp.) from
October 2007 to March 2013 and as the CFO for Cyberguard from February 2001 to
April 2006. Mr. Matte currently serves on the Board of Directors of Coqui Radio
Pharmaceutical, a position he has held since June 2013, and previously served
on the Board of Directors of Iris International from January 2004 until April
2012. Mr. Matte has also served as a director for QuePasa Corp. from July 2006
until October 2007 and for Geltec Solutions from September 2008 until October
2009. Mr. Matte began his career at PricewaterhouseCoopers where he served as a
senior audit manager.
There are no family relationships between Mr. Matte
and any director, executive officer or person nominated or chosen by the
Company to become a director or executive officer. There are no transactions or
any currently proposed transaction (other than Mr. Matte's compensation) in
which the Company was or is to be a party and the amount involved exceeds
$120,000, and in which Mr. Matte had or will have a direct or indirect material
interest.
On June 29, 2015, the Company issued a press release
announcing the appointment of Mr. Matte to the position of CFO.
A copy of the press release is attached as Exhibit
99.1 to this Current Report on Form 8-K and incorporated herein by reference.
On June 25, 2015, in connection with the appointment
of Mr. Matte as CFO, the Company entered into an employment agreement with Mr. Matte
(the "Matte Employment Agreement").
Under the Employment Agreement, Mr. Matte is employed
as the Company's Chief Financial Officer, effective as of  June 22, 2015, at an
annual salary of $225,000. Mr. Matte will be eligible to receive a bonus based
on the terms of the bonus plan and performance metrics that the Compensation
Committee of the Board adopts, in its sole discretion, from year to year, which
may range in an amount equal to or between 0 and 50% of Mr. Matte's annual
salary and may be awarded in a combination of cash, restricted stock,
restricted stock units and/or other equity. The Company will also grant to Mr.
Matte an option to purchase 50,000 shares of Company common stock under the
Company's 2011 Long Term Incentive Plan.
The Matte Employment Agreement shall remain in effect
until June 22, 2018, unless earlier terminated pursuant to the terms therein.
The foregoing summary of the Matte Employment Agreement
between the Company and Mr. Matte does not purport to be complete and is
subject to, and qualified in its entirety by, the full text of the Matte Employment
Agreement, which is attached hereto as Exhibit 10.2 and is incorporated by
reference into this Current Report on Form 8-K.
Appointment
of Director, Sharon Hrynkow
On June 25, 2015, the Board voted to expand the size
of the Board from six to seven directors and appointed a new director, Dr. Sharon
Hrynkow, to serve until her successor has been duly elected and qualified. The
Board also appointed Dr. Hrynkow to serve on the Company's Audit Committee and Nominating
& Governance Committee. Dr. Hrynkow has not entered into any transactions
with the Company since the beginning of the Company's last fiscal year that are
reportable under Item 404(a) of Regulation S-K.
Dr. Hrynkow, 54, currently serves as the President of
the Global Virus Network, a coalition of top medical virologists supporting the
research and treatment of viral disease. Dr. Hrynkow is also the Founder and
Managing Partner of Global Health Consulting, LLC and a member of the
Scientific Advisory Board of CTD Holdings, Inc., a publicly traded  family of biotechnology
growth companies. Dr. Hrynkow previously spent over 20 years in various
leadership positions at the National Institutes of Health and the U.S.
Department of State, managing programs and policies addressing HIV/AIDS,
emerging infectious disease, the health impacts of climate change, global
health research and training, and partnership development.  She also served as
a U.S. Delegate at the United Nations Commission on the Status of Women's 55th
session and is an elected Fellow of the Council on Foreign Relations and the
American Association for the Advancement of Science. Dr. Hrynkow holds a B.A. from
Rhode Island College and a Ph.D. in Neuroscience from the University of
Connecticut.
Item
8.01. Other Events
In light of Mr. Wise's increased responsibilities at
the Company, the Board has appointed Mr. Scott Fine to serve as Lead Director of
the Board of the Company. The Lead Director will chair meetings of the
non-management directors and will assist as necessary on board agendas to
assure that all stakeholders' interests are represented appropriately. In the
absence of the Chairman, the Lead Director will chair meetings of the Board of
Directors.
Item
9.01. Financial Statements and Exhibits.
(d)
          Exhibits
Exhibit
  10.1
Employment
  Agreement, effective as of July 1, 2015, by and between Forward Industries,
  Inc. and Terence Wise.
Exhibit
  10.2
Employment
  Agreement, effective as of June 22, 2015, by and between Forward Industries,
  Inc. and Michael Matte.
Exhibit
  99.1
Press
  Release, dated June 29, 2015.
Forward
Looking Statements
This Current Report on Form 8-K contains certain "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
that reflect the Company's current expectations and projections about its
future results, performance, prospects and opportunities.  The Company has
tried to identify these forward-looking statements by using words such as "may,"
"should," "expect," "hope," "anticipate," "believe," "intend," "plan," "estimate"
and similar expressions.  These forward-looking statements are based on
information currently available to the Company and are subject to a number of
risks, uncertainties and other factors that could cause its actual results,
performance, prospects or opportunities to differ materially from those
expressed in, or implied by, these forward-looking statements.  No assurance
can be given that the actual results will be consistent with the
forward-looking statements.  Investors should read carefully the factors
described in the "Risk Factors" section of the Company's filings with the SEC,
including the Company's Form 10-K for the year ended September 30, 2014 for
information regarding risk factors that could affect the Company's results. 
Except as otherwise required by Federal securities laws, the Company undertakes
no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, changed circumstances or
any other reason.
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.
Dated:
June 29,
2015
By:
/s/ Michael
  Luetkemeyer
Name:
Michael
  Luetkemeyer
Title:
Interim President