Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 772

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 2
Chunk 772
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 that are required by law or the rules of the NYSE American concerning any
amendments to, or waivers from, any provision of the code. The reference to our website address does not constitute incorporation by
reference of the information contained at or available through our website, and you should not consider it to be a part of this Annual
Report.

Insider
Trading Policies

On
November 27, 2023, we adopted insider trading policies and procedures governing the purchase, sale, and/or other dispositions of our
securities by directors, officers and employees, which are reasonably designed to promote compliance with insider trading laws, rules
and regulations, and applicable Nasdaq listing standards (the “Insider Trading Policy”).

The
foregoing description of the Insider Trading Policy does not purport to be complete and is qualified in its entirety by the terms and
conditions of the Insider Trading Policy, a copy of which is attached hereto as Exhibit 19.1 and is incorporated herein by reference.

ITEM
11. EXECUTIVE COMPENSATION

Overview

We
are currently considered a “smaller reporting company” for purposes of the SEC’s executive compensation and other disclosure
rules. In accordance with such rules, we are required to provide a Summary Compensation Table and an Outstanding Equity Awards at Fiscal
Year End Table, as well as limited narrative disclosures.

We
design our executive officer compensation program to attract, motivate, and retain the key executives who drive our success and industry
leadership. Our compensation program consists of several forms of compensation: base salary, cash incentive bonuses, equity compensation
and other benefits and perquisites. Pay that reflects performance and alignment of that pay with the interests of long-term stockholders
are key principles that underlie our compensation program. The Board believes that our current executive compensation program directly
links executive compensation to our performance and aligns the interest of our executive officers with those of our shareholders.

49

Financial
Restatement

It
is a policy of our Board that the Compensation Committee will, to the extent permitted by governing law, have the sole and absolute authority
to make retroactive adjustments to any cash or equity-based incentive compensation paid to executive officers and certain other officers
where the payment was predicated upon the achievement of certain financial results that were subsequently the subject of a restatement.
Where applicable, the Company will seek to recover any amount determined to have been inappropriately received by the individual executive.

Clawback
Policy

We
have adopted a Compensation Recovery Policy