WORKHORSE GROUP INC. (NASDAQ:WKHS) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01

On April 27, 2017, Workhorse Group Inc. (the Company) entered
into a Services Partner Agreement (the Ryder Agreement) with
Ryder Truck Rental, Inc. (Ryder). The Ryder Agreement provides
that Ryder shall serve as the primary distributor, except with
respect to certain exclusive accounts, in the United States,
Mexico and Canada. During the fourth quarter of every year
commencing in the fourth quarter of 2018, Ryder and the Company
will mutually establish sales goals for each type of vehicle for
the following year as well as standards relating to parts
availability, service responsiveness and other key performance
indicators. Ryder shall also serve as the sole and exclusive
provider of certain repair services and the sole and exclusive
distributor of certain vehicle parts in the United States, Canada
and Mexico. The Company has agreed to provide a warranty for each
vehicle and part for varying time period and mileage. For all
repair services performed by Ryder on the Companys vehicles
during the warranty period, excluding physical damage repairs
resulting from, but not limited to, collision, driver behavior,
fire or act of God, the Company will reimburse Ryder for such
services. The term of the Ryder Agreement is through December 31,
2027 unless terminated sooner. On the fifth anniversary of the
Ryder Agreement, if there are any material changes in the
relationship or the external market that have a direct impact on
the material terms of the Ryder Agreement, the parties may seek
to renegotiate the affected terms of the Ryder Agreement. In the
event that the parties do not reach a mutual agreement within 90
days of the commencement of the renegotiation, either party may
terminate the Ryder Agreement with 30 days prior written notice
to the other party or decide to continue under the current terms
for the remainder of the term.

The foregoing information is a summary of each of the agreements
involved in the transactions described above, is not complete,
and is qualified in its entirety by reference to the full text of
those agreements, each of which is attached an exhibit to this
Current Report on Form 8-K. Readers should review those
agreements for a complete understanding of the terms and
conditions associated with this transaction.

* Portions of this exhibit have been redacted to a request for
confidential treatment submitted to the Securities Exchange
Commission.

About WORKHORSE GROUP INC. (NASDAQ:WKHS)

Workhorse Group, Inc., formerly AMP Holding Inc., is a development-stage company. The Company designs, develops, manufactures and sells medium-duty trucks with powertrain components under the Workhorse chassis brand. The Company’s products include trucks comprising powertrain and chassis. Its powertrain products include E-GEN and E-100. Its chassis products include W88, W22, W42 and W62. E-GEN is an electric drive, transmission-free system, which has a gasoline/propane or compressed natural gas (CNG) engine that functions as an auxiliary generator. E-100, an all-electric, medium-duty truck, is an electric power-train. It focuses on offering W88 chassis with gross vehicle weight (GVW) ratings of 10,000 to 26,000 pounds. The W22 chassis is designed to meet the needs of the recreational vehicle market for weight ratings till over 26,000 GVW. The W42 chassis is designed for the 12,000 to 14,500 GVW vehicle market. The W62 chassis is designed for the 19,500 to 23,500 GVW vehicle market.

WORKHORSE GROUP INC. (NASDAQ:WKHS) Recent Trading Information

WORKHORSE GROUP INC. (NASDAQ:WKHS) closed its last trading session up +0.15 at 2.30 with 428,912 shares trading hands.