Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 285

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 285
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 any disagreements
    between management and the auditor regarding financial reporting;

    ●
    pre-approve all auditing
    and non-audit services;

    ●
    retain independent counsel,
    accountants, or others to advise the Audit Committee or assist in the conduct of an investigation;

    ●
    seek any information it
    requires from employees – all of whom are directed to cooperate with the Audit Committee’s requests – or external
    parties;

    ●
    meet with our officers,
    external auditors, or outside counsel, as necessary; and

    ●
    oversee that management
    has established and maintained processes to assure our compliance with all applicable laws, regulations and corporate policies.

Compensation
Committee. We have a standing Compensation Committee. Under the Nasdaq listing standards and applicable SEC rules, we are required
to have at least two members of the Compensation Committee, all of whom must be independent. William Caragol, Craig Loverock and Ned
L. Siegel serve as members of our Compensation Committee. Mr. Caragol serves as the Compensation Committee Chairman.

We
have adopted a Compensation Committee charter, which details the purpose and responsibility of the Compensation Committee, including
to:

    ●
    discharge the responsibilities
    of the Board relating to compensation of our directors, executive officers and key employees;

    ●
    assist the Board in establishing
    appropriate incentive compensation and equity-based plans and to administer such plans;

    ●
    oversee the annual process
    of evaluation of the performance of our management; and

    ●
    perform such other duties
    and responsibilities as enumerated in and consistent with the Compensation Committee’s charter.

The
Compensation Committee’s charter permits the committee to retain or receive advice from a compensation consultant and outlines
certain requirements to ensure the consultant’s independence or certain circumstances under which the consultant need not be independent.
However, as of the date hereof, we have not retained such a consultant.

Nominating
and Corporate Governance Committee. We have a standing Nominating and Corporate Governance Committee. Craig Loverock, William
Caragol and Ned L. Siegel serve as members of the Nominating and Corporate Governance. Ned L. Siegel serves as the Nominating and Corporate
Governance Committee Chairman.

We
have adopted a Nominating and Corporate Governance Committee charter, which details the purpose and responsibilities of the Nominating
and Corporate Governance Committee, including to:

    ●
    assist the Board by identifying