Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 54

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 8
Chunk 54
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 of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

Indemnification
and Limitation on Liability of Directors

Our
articles of incorporation limit the liability of our directors to the fullest extent permitted by Nevada law. Nothing contained in the
provisions will be construed to deprive any director of his or her right to all defenses ordinarily available to the director nor will
anything herein be construed to deprive any director of any right he or she may have for contribution from any other director or other
person.

At
present, there is no pending litigation or proceeding involving any of our directors, officers, employees or agents where indemnification
will be required or permitted. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
our directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise, we have been advised that in the
opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.

ITEM
11. EXECUTIVE COMPENSATION

The
following summary compensation table sets forth all compensation awarded to, earned by, or paid during the years ended December 31, 2024
and 2023 in all capacities for our “named executive officers” which include: (i) all individuals serving as our principal
executive officer or acting in a similar capacity during the last completed fiscal year (“PEO”), regardless of compensation
level; (ii) our two most highly compensated executive officers other than the PEO who were serving as executive officers at the end of
the last completed fiscal year and whose total compensation for the last fiscal year exceeded $100,000; and (iii) up to two additional
individuals for whom disclosure would have been provided under (ii), except that the individual was not serving as an executive officer
of the company at the end of the last completed fiscal year.

Summary
Compensation Table  

    Name
    and Position 
    Fiscal
    Year
    Ended
    December 31,  
    Salary
    ($)  
    Stock
    
    Awards ($)  
    Stock
    Options ($)  
    Total
                                            ($) 
  
    Steven Rossi, Chief Executive
    Officer, President 
     2024  
     348,246