Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 553

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 8
Chunk 553
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 Units

Grant
of Restricted Stock Units

Restricted
stock units may be granted at any time and from time to time as determined by the administrator. Each restricted stock unit grant will
be evidenced by an award agreement that will specify such other terms and conditions as the administrator, in its sole discretion, will
determine, including all terms, conditions, and restrictions related to the grant, the number of restricted stock units and the form
of payout, which may be left to the discretion of the administrator.

Vesting
Criteria and Other Terms

The
administrator will set vesting criteria in its discretion, which, depending on the extent to which the criteria are met, will determine
the number of restricted stock units that will be paid out to the participant. After the grant of restricted stock units, the administrator,
in its sole discretion, may reduce or waive any restrictions for such restricted stock units. Each award of restricted stock units will
be evidenced by an award agreement that will specify the vesting criteria, and such other terms and conditions as the administrator,
in its sole discretion will determine. The administrator, in its discretion, may accelerate the time at which any restrictions will lapse
or be removed. Upon meeting the applicable vesting criteria, the participant will be entitled to receive a payout as specified in the
award agreement. On the date set forth in the award agreement, all unearned restricted stock units will be forfeited to us.

Performance
Units and Performance Shares

Grant
of Performance Units/Shares

Performance
units and performance shares may be granted to service providers at any time and from time to time, as will be determined by the administrator,
in its sole discretion. The administrator will have complete discretion in determining the number of performance units/shares granted
to each participant.

Value
of Performance Units/Shares

Each
performance unit will have an initial value that is established by the administrator on or before the date of grant. Each performance
share will have an initial value equal to the fair market value of a share on the date of grant.

Performance
Objections and Other Terms

The
administrator will set performance objectives or other vesting provisions. The administrator may set vesting criteria based upon the
achievement of Company-wide, business unit, or individual goals (including, but not limited to, continued employment), or any other basis
determined by the administrator in its discretion. Each award of performance units/shares will be evidenced by an award agreement that
will specify the performance period, and such other terms and conditions as