Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 16

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 16
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 the Consultant Agreement, the Company has agreed to (i) pay Mr. Tiwari a service fee of $14,874 per month, (ii) grant Mr. Tiwari 1,000,000 (one million) RSUs (“initial Grant”) of which 250,000 RSU shall vest at the end of each quarter beginning from the Effective Date of the Consultant Agreement (iii) grant another 1,000,000 (one million) RSUs, if Mr. Tiwari and the Board mutually agree to extend his term for an additional one (1) year beyond the initial term for which the vesting schedule and set of performance objectives and key performance indicators (KPIs) for this grant is to be decided mutually by him and the Board. The Consultant agreement specifies certain compensation following termination, including severance payments of three months of Mr. Tiwari’s last drawn salary if Mr. Tiwari is terminated by the Company without “Cause” (as defined in the consultant agreement) payable either in lumpsum or in instalments as decided by the Board in accordance with the Company’s normal policies and practices. The consultant agreement further provides that such severance compensation shall be subject to reduction or offset by any fees, compensation, or income earned or received by Mr. Tiwari for services rendered to any other party during the severance period. 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. 3 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