Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 2183

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 9C
Chunk 2183
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,000 RSUs which are subject to Continuous Service and have a vesting period of six months after the date
    of the award, at which point they will vest in full. As of October 31, 2024, none of the shares of restricted stock awarded to Mr.
    Overholtzer had vested.

    (4)
    In connection with the employment agreement that the Company and Mr. Eschner entered into on May 1, 2023, Mr. Eschner
was granted 7,500 RSUs which are subject to Continuous Service and have a vesting period of five months after the date of the award, with
the remainder vesting in equal tranches every six months afterwards. As of October 31, 2024, all but 1,875 shares awarded to Mr. Eschner
had vested.

    (5)
    In connection with the employment agreement that the Company and Mr. Rowlee entered into on May 1, 2023, Mr. Rowlee
was granted 7,500 RSUs which are subject to Continuous Service and have a vesting period of five months after the date of the award, with
the remainder vesting in equal tranches every six months afterwards. As of October 31, 2024, all but 1,875 shares awarded to Mr. Rowlee
had vested.

    (6)
    In connection with the employment agreement that the Company and Mr. Eschner entered into on May 1, 2023, Mr. Eschner
was granted 7,500 RSUs which are subject to Continuous Service and have a vesting period of five months after the date of the award, with
the remainder vesting in equal tranches every six months afterwards. As of October 31, 2024, all but 1,875 shares awarded to Mr. Eschner
had vested.

Narrative Disclosure to Summary Compensation
Table

Employment
Agreement - Robin Ross

We
entered into an employment agreement with Robin Ross (the “Ross Employment Agreement”), who became our CEO, effective as
of July 11, 2024, for a term ending on December 31, 2026, which shall auto-renew for additional one-year terms. Mr. Ross reports directly
the Board and performs his services primarily in Toronto, Canada.

We
have agreed to pay Mr. Ross a salary at a rate of $300,000 per year. He is eligible for an annual bonus targeted at