Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 1067

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 4
Chunk 1067
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 expenses relating
to his services upon presentation of invoices and receipts reasonably acceptable to the Company.

Each of the Company and Mr. Overholtzer has made customary representations and warranties to each other, and Mr.
Overholtzer has agreed that during the term of the IC Agreement and for a period of two years, thereafter, not to solicit any employee
of the Company for employment with any other business. Mr. Overholtzer has also agreed to a standard form of confidentiality provision
under the terms of the Agreement and customary provisions relating to insider trading. Mr. Overholtzer has also agreed to assign to the
Company any intellectual property rights relating to his services to the Company.

Employment
Agreement- Steven A. Rowlee

We
entered into an employment agreement with our former Chief Operating Officer, Steven A. Rowlee, effective as of May 1, 2023, for a term ending on December 31, 2024.
Mr. Rowlee’s employment agreement and his employment with the Company expired by their terms on December 31, 2024. His position as Chief Operating Officer of the Company was officially eliminated by the Board as of January 2, 2025.

53

Employment
Agreement- Terence B. Eschner

We
entered into an employment agreement with our former President, Terence B. Eschner, effective as of May 1, 2023, for a term ending
on December 31, 2024. Mr. Eschner’s employment agreement and his employment with the Company expired by their terms on December 31,
2024. His position as President of the Company was officially eliminated by the Board as of January 2, 2025.

Employment
Agreement- Stanford Eschner

We
entered into an employment agreement with our Vice Chairman, Stanford Eschner, effective as of May 1, 2023, for a term ending on
December 31, 2024. Mr. Eschner’s employment agreement and his employment with the Company expired by their terms on December
31, 2024. Mr. Eschner continues to serve as our Vice Chairman in a non-employee capacity. 

Incentive
Award Plans

2022
Equity Incentive Plan

We
have adopted and approved the 2022 Plan. On August 15, 2024, at the 2024 annual meeting of the stockholders of the Company, the
number of shares of common stock reserved