Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 66

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 8
Chunk 66
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 the administrator, in its sole discretion, will determine.
After the applicable performance period has ended, the holder of performance units/shares will be entitled to receive a payout of the
number of performance units/shares earned by the participant over the performance period, to be determined as a function of the extent
to which the corresponding performance objectives or other vesting provisions have been achieved. After the grant of a performance unit/share,
the administrator, in its sole discretion, may reduce or waive any performance objectives or other vesting provisions for such performance
unit/share. On the date set forth in the award agreement, all unearned or unvested performance units/shares will be forfeited to the
Company, and again will be available for grant under the 2022 Plan.

Compensation
of Directors

Directors
are permitted to receive fixed fees and other compensation for their services as directors. The Board has the authority to fix the compensation
of directors.

79

During
2024, Steven Rossi, Lorenzo Rossi, Craig Loverock, Bill Caragol, and Ned L. Siegel were compensated for their services.

Director
Compensation (1)

As
of December 31, 2024

    Name 
    Fees
                                                                               Earned or Paid in Cash ($)  
    Stock
                                            Awards ($)  
    Option
                                            Awards ($)  
    Non-Equity
                                            Incentive Plan Compensation ($)  
    All
                                            Other Compensation ($)  
    Total ($) 
  
    Craig Loverock 
     21,233(1) 
     -  
     3,845(3) 
             -  
     -  
     25,078 
  
    William Caragol 
     45,000  
     -  
     3,845(3) 
     -  
     -  
     48,845 
  
    Ned L. Siegel 
     50,000  
     -  
     3,845(3) 
     -  
     -  
     53,845 
  
    Lorenzo Rossi 
     211,814(2) 
     -  
     -  
     -  
     3,138(2) 
     214,952 

(1)
Payments were made in CAD and converted to USD per the exchange rate as of the date of each bill payment, of which