Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 377

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 377
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 business conduct and ethics (“Code”) that applies to our directors, officers and employees,
including our principal executive officer, principal financial officer and principal accounting officer or controller, or persons performing
similar functions. One of our investor webpages, https://investors.worksport.com/#reports, displays a current copy of the Code
and all disclosures that are required by law in regard to any amendments to, or waivers from, any provision of the Code.

Insider
Trading Policy

All
officers, directors and employees of, and consultants and contractors to, us or any of our subsidiaries are subject to our Insider Trading
Policy. The Insider Trading Policy prohibits the unauthorized disclosure of any nonpublic information acquired in the workplace and the
misuse of material nonpublic information in the trading of our securities. To ensure compliance with the Insider Trading Policy and applicable
federal and state securities laws, all officers, directors and employees of, and consultants and contractors to, us or any of our subsidiaries
must refrain from the sale or purchase of our securities except in specific designated trading windows or pursuant to 10b5-1 trading
plans that were preapproved. Even during a trading window period, certain insiders, including our named executive officers and directors,
must comply with our designated pre-clearance policy prior to trading in our securities.

Director
Independence and Board Committees

An
“independent director” is defined generally as a director that is not an officer or employee of the Company or its subsidiaries
or any other individual having a relationship which, in the opinion of the Company’s Board, would interfere with the director’s
exercise of independent judgment in carrying out the responsibilities of a director. Steven Rossi, Lorenzo Rossi, Craig Loverock, William
Caragol and Ned L. Siegel serve as members of our Board of Directors. Our Board has determined that Craig Loverock, William Caragol and
Ned L. Siegel are “independent directors” as defined in The Nasdaq Stock Market LLC (“Nasdaq”) listing rules
and under Rule 10-A-3(b)(1) of the Exchange Act and applicable SEC rules.

Audit
Committee. We currently have a standing Audit Committee. Under the Nasdaq listing standards and applicable SEC rules, we are
required to have at least three members of the Audit Committee, all of whom must be independent and financially literate, and one member
of the Audit Committee must qualify as an “audit committee financial expert” as defined in applicable SEC rules. Messrs