Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 2303

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 7A
Chunk 2303
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 for an adjustment
pursuant to the terms of the Incentive Plan or a repricing approved by shareholders, in no case may the plan administrator (i) amend an
outstanding stock option or stock appreciation right to reduce the exercise price of the award, (ii) cancel, exchange, or surrender an
outstanding stock option or stock appreciation right in exchange for cash or other awards for the purpose of repricing the award, or (iii)
cancel, exchange, or surrender an outstanding stock option or stock appreciation right in exchange for an option or stock appreciation
right with an exercise price that is less than the exercise price of the original award.

Tax Withholding

Participants in the Incentive
Plan are responsible for the payment of any federal, state, or local taxes that Zoomcar or its subsidiaries are required by law to withhold
upon the exercise of options or stock appreciation rights or vesting of other awards. The plan administrator may cause any tax withholding
obligation of Zoomcar or its subsidiaries to be satisfied, in whole or in part, by the applicable entity withholding from shares of Common
Stock to be issued pursuant to an award a number of shares with an aggregate fair market value that would satisfy the withholding amount
due. The plan administrator may also require any tax withholding obligation of Zoomcar or its subsidiaries to be satisfied, in whole or
in part, by an arrangement whereby a certain number of shares issued pursuant to any award are immediately sold and proceeds from such
sale are remitted to Zoomcar or its subsidiaries in an amount that would satisfy the withholding amount due.

101

Equitable Adjustments

In the event of a merger,
consolidation, recapitalization, stock split, reverse stock split, reorganization, split-up, spin-off, combination, repurchase or other
change in corporate structure affecting shares of Common Stock, the maximum number and kind of shares reserved for issuance or with respect
to which awards may be granted under the Incentive Plan will be adjusted to reflect such event, and the plan administrator will make such
adjustments as it deems appropriate and equitable in the number, kind, and exercise price of shares of Common Stock covered by outstanding
awards made under the Incentive Plan.

Change in Control

In the event of any proposed
change in control (as defined in the Incentive Plan), the plan administrator will take any action as it deems appropriate, which action
may include, without limitation, the following: (i) the continuation of