Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 619

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9C
Chunk 619
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 was converted
to USD using the 2023 average exchange rate of 0.741045.

(3)
On May 1, 2023, we granted Steven Rossi 200,000 NQSO Stock Options with a strike price of $17.40 and a vesting schedule based on market
capitalization, of which 20% has vested as of December 31, 2024. On July 21, 2023, we granted Steven Rossi 5,000 NQSO stock options with
a strike price of $36.10 to be vested 50% one year from grant date and 50% two years from grant date. On October 31, 2023, we granted
Steven Rossi 150,000 ISO Stock Options with a strike price of $14.40 to be vested upon completion of revenue milestones, of which 20%
has vested as of December 31, 2024. 

Employment
Agreements

We
entered into an employment agreement with Steven Rossi, our Chief Executive Officer, effective May 10, 2021 (the “Employment
Agreement”). Details of the Employee Agreement were filed as an exhibit (Exhibit 10.1) to the Company’s Form 8-K filed
on 05/12/2021.

Consulting
Agreements

The
employment agreement previously entered into with Steven Rossi, our Chief Executive Officer, effective May 10, 2021, was terminated on
July 23, 2024 and replaced with a consulting agreement (the “Consulting Agreement”). The term of the Consulting Agreement commenced on July 23, 2024 (the “Effective Date”) and continues indefinitely. Other details
of the Consulting Agreement were filed as an exhibit (Exhibit 10.1) to the Company’s Form 8-K filed on 07/26/2024.

73

The
table below set forth the outstanding equity awards held by our named executive officers at of December 31, 2024.

OUTSTANDING
EQUITY AWARDS AT DECEMBER 31, 2024

    Option
    Awards
     
    Stock
    Awards

    Name
     
    Number
    of securities underlying exercised options (#)

    Number
    of securities underlying unexercised options (#) exercisable  
     
    Equity
    incentive plan awards: Number of securities underlying unexercised unearned options (#)
     
    Option