Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 201

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 201
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, 2024, the                                                                
 Board of Directors of the Company appointed Hiroshi Nishijima, the Company’s Chief Operating Officer, as Acting Chief Executive      
 Officer and then as Chief Executive Officer on February 1, 2025. Pursuant to his employment agreement, Mr. Nishijima’s annual salary 
 is  $350,000 per annum.                                                                                                              |

| (9) | Mr. Nishijima received retention incentives totaling $10,721 and $78,399 
 in respect of the fiscal year ended March 31, 2025 and 2024.             |

| (10) | On behalf of Mr. Nishijima, Zoomcar made $ 125,145 and $52,903 in contributions                                        
 to India’s Provident Fund, a defined contribution plan, for the fiscal year ended March 31, 2025 and 2024 respectively |

| (11) | On January 6, 2025, the board of directors (the “Board”)                                                              
 of Zoomcar Holdings, Inc. (the “Company”) approved the designation of Shachi Singh, the Company’s General Counsel and 
 Chief Legal Officer, as an executive officer of the Company, effective immediately.                                   |

| (12) | On behalf of Ms. Singh, Zoomcar made $17,414 and $31,915 in contributions                                               
 to India’s Provident Fund, a defined contribution plan, for the fiscal year ended March 31, 2025 and 2024 respectively. |

Narrative to Summary Compensation Table Employment Agreements For the fiscal year ended March 31, 2024, Zoomcar maintained employment agreements with its Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer. Effective upon the Closing of the Business Combination, Zoomcar amended and restated the existing employment agreements with each of the Company’s CEO, CFO and COO. The amended and restated employment agreements govern the terms of continuing employment with Zoomcar India and also provide that each executive agrees to serve as an executive officer of the Company following the completion of the Business Combination without additional compensation. Below is a summary of the material updates to each of the amended and restated employment agreements. Amended and Restated Agreement with Chief Executive Officer The annual base salary for Mr. Moran was $332,500, plus an annual variable pay opportunity of up to $17,500. Mr. Moran was eligible for a one-time supplemental bonus of $100,000, payable six months following the amended