Performance Stock Unit award, dated November 11, 2022, to Steven Rossi

EX-10.1 2 ex10-1.htm

 

Exhibit 10.1

 

Worksport Ltd.

Notice of Performance Stock Unit Award

 

You (the “Stockholder”) have been granted the following performance stock units (the “PSU”) of Worksport Ltd. (the “Company”), par value $0.0001 per share, which may vest in the order provided for in the vesting schedule1 failing which the PSU shall stand rescinded and revert to the Company.

 

Name of Grantee:   Steven Rossi
     
Shares:   400,000
     
Effective Date of Grant:   November 11, 2022

 

Vesting Schedule:

 

Stock Price   Vesting % 
$2.25    5%
$2.48    10%
$2.72    15%
$2.99    20%
$3.29    25%
$3.62    30%
$3.99    35%
$4.38    40%
$4.82    45%
$5.31    50%
$5.84    55%
$6.42    60%
$7.06    65%
$7.77    70%
$8.54    75%
$9.40    80%
$10.34    85%
$11.37    90%
$12.51    95%
$13.76    100%

 

The Grantee and the Company hereby agree and acknowledge that this Grant is governed by the terms and conditions of the 2015 Equity Incentive Plan (the “Plan”), which is incorporated herein by reference. The Grantee confirms that it has been provided with a copy of the Plan.

 

GRANTEE   WORKSPORT LTD.
       
/s/ Steven Rossi   By: /s/ William Caragol
Steven Rossi   Name: William Caragol
    Title: Chair, Compensation Committee

 

 

1 In accordance with the vesting schedule, a milestone is met if the VWAP exceeds the required price for ten (10) consecutive days, with over $100,000 of trading volume (min) on each of those days.