Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 2141

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 7
Chunk 2141
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 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 any award, if Zoomcar is the surviving corporation; (ii) the assumption
of any award by the surviving corporation or its parent or subsidiary; (iii) the substitution by the surviving corporation or its parent
or subsidiary of equivalent awards; (iv) accelerated vesting of the award, with all performance objectives and other vesting criteria
deemed achieved at targeted levels, and a limited period during which to exercise the award prior to closing of the change in control,
or (v) settlement of any award for the change in control price (less, to the extent applicable, the per share exercise price). Unless
determined otherwise by the plan administrator, in the event that the successor corporation refuses to assume or substitute for the award,
a