Company: WKSP
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001641172-25-001309
Chunk: 61

Company: Worksport Ltd
Filing Date: 2025-03-28
Form: S-1
Chunk 61
---
 a two-thirds (66-2/3%) the voting power of the issued and
outstanding shares of capital stock of the Company then entitled to vote in the election of directors.

Size of Board and Vacancies

The authorized number of directors may be determined
by the Board, provided the Board shall consist of at least one (1) member but not more than nine (9) members. No decrease in the number
of directors constituting the Board shall shorten the term of any incumbent director.

Vacancies occurring on our Board for any reason and
newly created directorships resulting from an increase in the authorized number of directors may be filled only by a vote of a majority
of the remaining members of the Board, although less than a quorum, or by a sole remaining director, at any meeting of the Board. A directorship
to be filled by reason of an increase in the number of directors may be filled by the Board for a term of office only until the next election
of one or more directors by the stockholders.

Amendment

The Articles of Incorporation may be amended in the
manner prescribed by the NRS. The Board is authorized to adopt, amend, alter or repeal the bylaws by the affirmative vote of at least
a majority of the Board then in office.

Special Meetings of Stockholders

Our Bylaws state that special meetings of stockholders
may be held only by the Chief Executive Officer, President or Chairman of the Board.

| 32 |

Penny Stock Regulation

The SEC has adopted regulations which generally define
“penny stock” to be any equity security that has a market price of less than Five Dollars ($5.00) per share or an exercise
price of less than Five Dollars ($5.00) per share. Such securities are subject to rules that impose additional sales practice requirements
on broker-dealers who sell them. For transactions covered by these rules, the broker-dealer must make a special suitability determination
for the purchaser of such securities and have received the purchaser’s written consent to the transaction prior to the purchase.
Additionally, for any transaction involving a penny stock, unless exempt, the rules require the delivery, prior to the transaction, of
a disclosure schedule prepared by the SEC relating to the penny stock market. The broker-dealer also must disclose the commissions payable
to both the broker-dealer and the registered representative, current quotations for the securities and, if the broker-dealer is the sole
market maker, the broker-dealer must disclose this fact