Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 766

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1B
Chunk 766
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 invested $2.5 million of the aggregate investment
amount of $9.15 million in the November Offering.

Participation of the former Chief Executive
Officer Zoomcar and our Chairman in the December Offering. and payments made to the Chairman.

Hiroshi Nishijima, the former
Chief Executive Officer of the Company (while holding the office of Acting Chief Executive Officer) and Uri Levine, our Chairman, each
invested in the December Offering. Of the aggregate investment amount of $5.485 million, Mr. Nishijima invested $50,000 and Mr. Levine
invested $300,000.

Payments to the Chairman
as an erstwhile consultant

Uri Levine was also engaged
with Zoomcar since October 21, 2024, as a consultant. His position as a consultant was terminated effectively upon becoming a director
and Chairman. Effective as of March 31, 2025, the Board appointed Uri Levine, as a member and Chairman of the Board to serve as a Class
III Director. During his term as a consultant to the Company Mr. Levine was processed a compensation of $174,996.

For the upcoming fiscal year
Mr. Levine shall be eligible for the following compensation based on the Board Appointment Letter executed on March 28, 2025: (i) a service
fee of $29,166 per month, (ii) a $500,000 cash bonus on September 30, 2025 and (iii) award Mr. Levine, subject to stockholder approval
1,000,000 shares of restricted stock all of which shall vest on the earlier of (A) the second anniversary of the date of grant and (B)
Zoomcar India Private Limited, an Indian limited liability company and subsidiary of the Company, achieving $20 million or more in revenue
in fiscal year 2026, in each case subject to the Stockholder Approval having been obtained on or before such date. Mr. Levine may not
be awarded the Restricted Stock Award, unless and until Stockholder Approval has been obtained and if it is never obtained, he is not
entitled to any other compensation in lieu thereof. Mr. Levine is also entitled to be reimbursed for all reasonable out-of-pocket expenses
pursuant to the expense policy applicable to members of the Board.

109

Policies for Approval of Related Person Transactions

Zoomcar has adopted a written
related person transaction policy that sets forth the following policies and procedures for the review and approval or ratification of