Company: WKSP
Filing Date: 2025-12-11
Form Type: 8-K
Source: 0001493152-25-027177
Chunk: 3

Company: Worksport Ltd
Filing Date: 2025-12-11
Form: 8-K
Item: Item 1.01
Chunk 3
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 As an alternative, and at the Holder’s
option in the event of a Fundamental Transaction, exercisable at any time concurrently with, or within 30 days after, the consummation
of the Fundamental Transaction (or, if later, the date of the public announcement of the applicable fundamental transaction), the Company
shall purchase the unexercised portion of the Inducement Warrant from the holder by paying to the holder an amount of cash equal to the
Black Scholes Value (as defined in the Inducement Warrant) of the remaining unexercised portion of the Inducement Warrant on the date
of the consummation of such Fundamental Transaction.

Waivers
and Amendments

The
Inducement Warrants may be modified or amended or the provisions of the Inducement Warrants waived with the Company’s and the holder’s
written consent.

The
forms of Inducement Letter and Inducement Warrants are attached as Exhibits 10.1 and 4.1, respectively. The description of the terms
of the Inducement Letter and the Inducement Warrants is not intended to be complete and is qualified in its entirety by reference to
such exhibits. The Inducement Letter contains customary representations, warranties and covenants by the Company which were made only
for the purposes of such agreements and as of specific dates, were solely for the benefit of the parties to such agreements and may be
subject to limitations agreed upon by the contracting parties.

Item
3.02 Unregistered Sales of Equity Securities.