Company: WKSP
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001641172-25-001309
Chunk: 60

Company: Worksport Ltd
Filing Date: 2025-03-28
Form: S-1
Chunk 60
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Articles of Incorporation and Bylaws

Our Articles of Incorporation and Bylaws contains
provisions that could make it more difficult to acquire control of our Company by means of a tender offer, open market purchases, a proxy
contest or otherwise. A description of these provisions is set forth below.

Authorized but Unissued Shares of Common Stock and of Preferred Stock

We believe that the availability of the “blank
check” preferred stock under our Articles of Incorporation provides us with flexibility in addressing corporate issues that may
arise. The Board has the power, subject to applicable law, to issue a series of preferred stock that could, depending on the terms of
the series, impede the completion of a merger, tender offer or other takeover attempt that some, or a majority, of the stockholders might
believe to be in their best interests or in which stockholders might receive a premium for their stock over the then prevailing market
price of the stock. Our Board may issue preferred stock with voting rights or conversion rights that, if exercised, could adversely affect
the voting power of the holders of Common Stock.

The authorized shares of preferred stock, as well
as shares of Common Stock, will be available for issuance without further action by our stockholders unless action is required by applicable
law or the rules of any stock exchange on which our securities may be listed. Having these authorized shares available for issuance allows
us to issue shares without the expense and delay of a special stockholders’ meeting. We may use additional shares for a variety
of purposes, including future public offerings to raise additional capital, to fund acquisitions and as employee compensation. The existence
of authorized but unissued shares of Common Stock and preferred stock could render it more difficult or discourage an attempt to obtain
control of our Company by means of a proxy contest, tender offer, merger or otherwise. The above provisions may deter a hostile takeover
or delay a change in control or management of our Company.

Election and Removal of Directors

Directors will be elected by a plurality of the voting
power of the shares present in person or represented by proxy at the stockholders’ meeting and entitled to vote on the election
of directors. Our Articles of Incorporation does not provide for a classified Board or cumulative voting in the election of directors.
Under our Bylaws, directors may be removed by the stockholders of the Company with or without cause, and in such cases only at a special
meeting of stockholders and by the affirmative vote of the holders of at least