Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 16

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 16
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. As compensation for services rendered under the agreement, the Company will pay Mr. Levine a cash fee of $29,166 per month, payable monthly in arrears and a joining bonus of $500,000 payable in cash and shares of Common Stock. Additionally, the Company will recommend to the Board and the Compensation Committee of the Board that the Company grant to Mr. Levine, subject to the approval of the Company’s stockholders, an equity grant equal to 3% of the Company’s outstanding equity as of its last financing as of December 31, 2024, which such grant will be subject to certain vesting restrictions as determined by the independent members of the Board or a subcommittee thereof. Further, pursuant to the agreement, if the Company is sufficiently capitalized in the sole determination of Mr. Levine, Mr. Levine has agreed to accept (at the Board’ discretion) a nomination or, if there is a vacancy on the Board, an appointment by the Board, to serve as a director and Chairman of the Board. The Strategic Advisory Agreement may be terminated by the Company with 90 days written notice. Legal Proceedings Except as described below, we are not currently subject to any material claims, lawsuits, arbitration proceedings, administrative actions, government investigations and other legal and regulatory disputes and proceedings (collectively, “Legal Proceedings”). We have received communications relating to certain legal proceedings, as described in the risk factors included herein under the title “Risk Factors — A former consultant to Zoomcar has commenced a lawsuit against Zoomcar asserting that he is entitled to compensation in connection with prior Zoomcar transactions and the Business Combination” and “Risk Factors — A former employee of Zoomcar India has instituted a wrongful termination suit and claims that certain Zoomcar options have vested.” We may become subject to other Legal Proceedings over time or from time to time, in the ordinary course of our business and as our business continues to grow and expand over time. Becoming involved with Legal Proceedings, regardless of the outcome, may result in substantial cost and diversion of our resources, including our management’s time and attention. As a result of our business operations in India, we are regularly subject to legal proceedings, many of which are de minimis in nature and amount and the majority of which relate to local tax matters. Many of these tax and vehicle accident-related Legal Proceedings are pending before various forums in India and involve localized practices and interpretations of regulatory matters that make the ultimate outcomes or resolution of these Legal Proceedings inherently uncertain and difficult to predict. Management’s views and estimates related to these