Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 191

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 191
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 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
    qualified candidates for director nominees, and to recommend to the Board of Directors the director nominees for the next annual
    meeting of shareholders;

    ●
    lead the Board in its annual
    review of its performance;

72

    ●
    recommend director nominees
    to the Board for each committee of the Board; and

    ●
    develop and recommend to
    the Board corporate governance guidelines applicable to us.

Meetings
of the Board of Directors

During
our fiscal year ended December 31, 2024, the Board met from time to time informally and acted by written consent on numerous occasions.

Involvement in Certain Legal Proceedings

To our knowledge, none of our current directors or
executive officers has, during the past 10 years:

    ●
    been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

    ●
    had any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business association of which he was a general partner or executive officer, either at the time of the bankruptcy filing or within two (2) years prior to that time;

    ●
    been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction or federal or state authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting, his or her involvement in any type of business, securities, futures, commodities, investment, banking, savings and loan, or insurance activities, or to be associated with persons engaged in any such activity;

    ●
    been found by a court of competent jurisdiction in a civil action or