Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 55

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 8
Chunk 55
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(1) 
     -  
     1,067,227(3) 
     1,415,473 

     2023  
     374,470(2) 
     -  
     4,978,572(3) 
     5,353,042 

(1)
Steven Rossi’s gross salary in 2024 was $187,000 ($256,085 CAD), which includes his base compensation plus an 8% vacation payout
per paycheck. He additionally received $159,527 in consulting fees. He also received contributions towards health, dental, and
vision coverage equaling $1,719 ($2,354 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.

(2)
Steven Rossi’s gross salary in 2023 was $327,998 ($442,615 CAD), which includes his base compensation plus an 8% vacation payout
per paycheck. He additionally received $45,786 ($61,786 CAD) in vacation payouts accrued prior to 2023. He also received contributions
towards health, dental, and vision coverage equaling $686 ($926 CAD) in the same year. The payments were made in CAD, of which was converted
to USD using the 2023 average exchange rate of 0.741045.

(3)
On May 1, 2023, we granted Steven Rossi 200,000 NQSO Stock Options with a strike price of $17.40 and a vesting schedule based on market
capitalization, of which 20% has vested as of December 31, 2024. On July 21, 2023, we granted Steven Rossi 5,000 NQSO stock options with
a strike price of $36.10 to be vested 50% one year from grant date and 50% two years from grant date. On October 31, 2023, we granted
Steven Rossi 150,000 ISO Stock Options with a strike price of $14.40 to be vested upon completion of revenue milestones, of which 20%
has vested as of December 31, 2024. 

Employment
Agreements

We
entered into an employment agreement with Steven Rossi, our Chief Executive Officer, effective May 10, 2021 (the “Employment
Agreement”). Details of the Employee