SEVERANCE AND RELEASE AGREEMENTSeverance and Release Agreement • February 13th, 2008 • Forward Industries Inc • Plastics products, nec • New York
This Severance and Release Agreement (this “Agreement”) is entered into as of this 31st day of December, 2007, by and between Michael M. Schiffman, residing at 22153 Larkspur Trail, Boca Raton, Florida 33433 ("Executive" or “you”), and Forward Industries, Inc., a New York corporation (“Forward”) having its principal offices at 1801 Green Road, Suite E, Pompano Beach, Florida 33064 (Forward, together with its wholly-owned subsidiaries Forward Innovations, Koszegi Industries, Inc., and Koszegi, Asia, Ltd., are referred to herein as the "Company").
AMENDMENT TO EMPLOYMENT AGREEMENTEmployment Agreement • February 13th, 2008 • Forward Industries Inc • Plastics products, nec
WHEREAS, Executive has been rendering services to the Company pursuant to an employment agreement between the Company and Executive dated as of December 27, 2005, effective as of October 1, 2005, (the "Prior Agreement", which as modified by this Amendment, is referred to herein as the “Amended Agreement”);
