Company: TPET
Filing Date: 2025-06-18
Form Type: DEF 14A
Source: 0001641172-25-015530
Chunk: 38

Company: Trio Petroleum Corp.
Filing Date: 2025-06-18
Form: DEF 14A
Chunk 38
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000 RSUs, which were subject to Continuous    
 Service and had a vesting period of two years. As of October 31, 2024, all such RSUs have vested and as of December 31, 2024, such        
 agreement and Mr. Overholtzer’s employment with the Company expired by their terms. On January 1, 2025, we entered into an                
 independent contractor agreement with Mr. Overholtzer, under which he continues to serve as the Chief Financial Officer of the Company    
 and is paid a monthly fee of $12,500; the initial term of the agreement is for one year and will be automatically renewed unless          
 either party provides a 30-day notice prior to the expiration of the agreement.                                                           |

| (4) | 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.                                             |
| (5) | Effective                                                                                                                                
 as of May 1, 2023, we entered into an employment agreement with Mr. Rowlee for a term ending on December 31, 2024. Under his employment  
 agreement, we agreed to pay Mr. Rowlee 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