Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 136

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 136
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,961 |
| William J. Hunter (3) |     |                |  87,500 |     |        | 45,961 |     |       | 133,461 |
| James H. Blake (4)    |     |                |       - |     |        |  2,150 |     |       |   2,150 |

| (1) | Mr.                                                                                                                                   
 Randall was awarded 5,000 and 12,500 restricted shares in September 2023 and October 2024, respectively, in connection with his Board 
 service; such shares vest in full upon the six month anniversary and the three month anniversary, respectively, of the award dates.   |
| (2) | Mr.                                                                                                                                   
 Pernice was awarded 5,000 and 12,500 restricted shares in September 2023 and October 2024, respectively, in connection with his Board 
 service; such shares vest in full upon the six month anniversary and the three month anniversary, respectively, of the award dates.   |
| (3) | Mr.                                                                                                                                   
 Hunter was awarded 5,000 and 12,500 restricted shares in September 2023 and October 2024, respectively, in connection with his Board  
 service; such shares vest in full upon the six month anniversary and the three month anniversary, respectively, of the award dates.   |
| (4) | Mr.                                                                                                                                   
 Blake was awarded 12,500 restricted shares in October 2024 in connection with his Board service; such shares vest in full upon the    
 six month anniversary of the award date.                                                                                              |

The material terms of the non-employee director compensation program are summarized below.

The non-employee director compensation provides for annual retainer fees and/or long-term equity awards for our non-employee directors. We expect each non-employee director will receive an annual retainer of $50,000 plus an additional $10,000 for each board committee that he or she is on.

Compensation under our non-employee director compensation policy will be subject to the annual limits on non-employee director compensation set forth in the 2022 Plan, as described above, but such limits will not apply prior to the first calendar year following the calendar year in which our initial public offering was completed. Our board of directors or its authorized committee may modify the non-employee director compensation program from time to time in the exercise of its business judgment, taking into account such factors, circumstances