Company: ZCARW
Filing Date: 2025-01-21
Form Type: DEF 14A
Source: 0001213900-25-005022
Chunk: 63

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-21
Form: DEF 14A
Chunk 63
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 be entitled to customary
piggyback registration rights. The Amended and Restated Registration Rights Agreement does not provide for the payment of any cash penalties
by the Company if it fails to satisfy any of its obligations under the Amended and Restated Registration Rights Agreement. The Amended
and Restated Registration Rights Agreement shall supersede the registration rights set forth in the Ananda Trust Subscription Agreement
and the registration rights previously provided to investors in Zoomcar’s private financings.

Release From Lock-Up

On February 1, 2024, the
Company entered into an agreement (the “Lock-Up Release Agreement”) with two of the former members of the Sponsor, ASJC Global
LLC - Series 24 (“ASJC”) and Cohen Sponsor LLC - A24 RS (“Sponsor Investor,” and together with ASJC, the “Lock-Up
Release Parties”), pursuant to which the Company agreed to waive the lock-up restrictions provided for in the letter agreement (as
amended, the “Letter Agreement”), dated October 26, 2021, by and among the Company, the then-officers and directors of the
Company, and the Sponsor, with respect to the Lock-Up Release Parties for a period of 120 days (the “Lock-Up Release Period”)
for a cash fee to be paid by the Lock-Up Release Parties to the Company within 3 business days of each 14 day payment period during the
Lock-Up Release Period, in an amount between $0.50 and $1.50 per share of the Common Stock that is sold by the Lock-Up Release Parties
during the Lock-Up Release Period, less any legal fees in the amount of up to $50,000 incurred by the Lock-Up Release Parties in connection
with the Lock-Up Release Agreement (the transactions contemplated in the Lock-Up Release Agreement, the “Lock-Up Release”).
The cash fee payable to the Company by the Lock-Up Parties will be based upon the volume weighted average price per share of the Common
Stock during each 14 day payment period during the Lock-Up Release Period. At the end of the Lock-Up Release Period, the lock-up restrictions
provided for in the Letter Agreement will be reaffixed to any shares of the Common Stock held by the Lock-Up Release Parties at that time
and no consideration will be due from the Lock-Up Release Parties to the Company for any such shares. On March 18, 2024, the Lock-Up Release
Agreement was amended pursuant to which (i) the Lock-Up Release