Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 300

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 300
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,814(2) 
     -  
     -  
     -  
     3,138(2) 
     214,952 

(1)
Payments were made in CAD and converted to USD per the exchange rate as of the date of each bill payment, of which include $11,542, $11,431,
and $5,798 on January 12, 2024, June 7, 2024, September 5, 2024, respectively.

(2)
Lorenzo Rossi’s gross compensation in 2024 was $211,814 ($290,065 CAD). He
additionally received contributions towards health, dental, and vision coverage equaling $3,138 ($4,297 CAD) in the same year. The payments
were made in CAD, of which was converted to USD using the 2024 average exchange rate of 0.730228.

(3)
During the year ended December 31, 2024, each of the three independent directors were granted 2,500 shares of common stock issuable upon
the exercise of vested options at a price of $7.042 per share until July 23, 2034.

Clawback
Policy

On
October 2, 2023, our Board adopted an executive compensation recoupment policy consistent with the requirements of the Exchange Act Rule
10D-1 and the Nasdaq listing standards thereunder, to help ensure that incentive compensation is paid based on accurate financial and
operating data, and the correct calculation of performance against incentive targets. Our policy addresses recoupment of amounts from
performance-based awards paid to all corporate officers, including awards under our equity incentive plans, in the event of a financial
restatement to the extent that the payout for such awards would have been less, or in the event of fraud, or intentional, willful or
gross misconduct that contributed to the need for a financial restatement.

Policies
and Practices for Granting Certain Equity Awards

Our
policies and practices regarding the granting of equity awards are carefully designed to ensure compliance with applicable securities
laws and to maintain the integrity of our executive compensation program. The Compensation Committee is responsible for the timing and
terms of equity awards to executives and other eligible employees.

The
timing of equity award grants is determined with consideration to a variety of factors, including but not limited to, the achievement
of pre-established performance targets, market conditions and internal milestones. The Company