Company: TPET
Filing Date: 2025-06-03
Form Type: PRE 14A
Source: 0001641172-25-013496
Chunk: 39

Company: Trio Petroleum Corp.
Filing Date: 2025-06-03
Form: PRE 14A
Chunk 39
---
 December 31, 2024. Mr. Rowlee was also granted an award of 7,500 restricted shares, subject to continuous service, with a vesting        
 schedule in which 25% of the restricted shares vest 5 months after the employment start date, with the remainder vesting in equal        
 tranches every 6 months thereinafter. As of October 31, 2024, 5,625 of the shares awarded to Mr. Rowlee had vested and as of December    
 31, 2024, the remaining 1,875 unvested shares were forfeited upon Mr. Rowlee’s termination.                                              |
| (6) | Effective                                                                                                                                
 as of May 1, 2023, we entered into an employment agreement with Mr. Eschner for a term ending on December 31, 2024. Under his employment 
 agreement, we agreed to pay Mr. Eschner a salary of $170,000, with the eligibility of an annual bonus targeted at 50% of his base        
 salary, as determined by the Board based on his performance and the achievement by the Company of financial, operating and other         
 objectives set by the Board. Mr. Eschner’s employment agreement and his employment with the Company expired by their terms               
 on December 31, 2024. Mr. Eschner was also granted an award of 7,500 restricted shares, subject to continuous service, with a vesting    
 schedule in which 25% of the restricted shares vest 5 months after the employment start date, with the remainder vesting in equal        
 tranches every 6 months thereinafter. As of October 31, 2024, 5,625 of the shares awarded to Mr. Eschner had vested and as of December   
 31, 2024, the remaining 1,875 unvested shares were forfeited upon Mr. Eschner’s termination.                                             |

Outstanding Equity Awards at Fiscal Year End

The following table provides information on outstanding equity awards as of October 31, 2024 to our NEOs.

| Name                 |     | Number of          
 shares or units of 
 stock that have    
 not vested         |   |     | Market value of    
 shares or units of 
 stock that have    
 not vested         |   |     | Equity           
 incentive plan   
 awards:          
 Number of        
 unearned shares, 
 units or other   
 rights that have 
 not vested       |         |     | Equity Incentive 
 Plan