Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 550

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 8
Chunk 550
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 shares with respect to which the option is exercised (together with any
applicable withholding taxes).

Effect
of Termination of Employment or Death or Disability

If
a participant ceases to be a service provider, other than upon the participant’s termination as the result of the participant’s
death or disability, the participant may exercise his, her, or its option within such period of time as is specified in the award agreement
to the extent that the option is vested on the date of termination (but in no event later than the expiration of the term of such option
as set forth in the award agreement). In the absence of a specified time in the award agreement, the option will remain exercisable for
three months following the participant’s termination. Unless otherwise provided by the administrator, if on the date of termination
the participant is not vested as to his, her, or its entire option, the shares covered by the unvested portion of the option will revert
to the 2022 Plan. If after termination the participant does not exercise his, her, or its option within the time specified by the administrator,
the option will terminate, and the shares covered by such option will revert to the 2022 Plan.

If
a participant ceases to be a service provider as a result of the participant’s disability, the participant may exercise his or
her option within such period of time as is specified in the award agreement to the extent the option is vested on the date of termination
(but in no event later than the expiration of the term of such option as set forth in the award agreement). In the absence of a specified
time in the award agreement, the option will remain exercisable for six (6) months following the participant’s termination. Unless
otherwise provided by the administrator, if on the date of termination the participant is not vested as to his or her entire option,
the shares covered by the unvested portion of the option will revert to the 2022 Plan. If after termination the participant does not
exercise his or her option within the time specified herein, the option will terminate, and the shares covered by such option will revert
to the 2022 Plan.

If
a participant dies while a service provider, the option may be exercised within such period of time as is specified in the award agreement
to the extent that the option is vested on the date of death (but in no event may the option be exercised later than the expiration of
the term of such option as set forth in the