Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 197

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 197
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 $53,856 and $23,512 in contributions to India’s Provident Fund, a defined contribution plan, for the fiscal year ended March       
 31, 2024 and 2023 respectively. Zoomcar paid $20,351 and $20,216 for a corporate apartment utilized by Mr. Moran during the fiscal year 
 ended March 31, 2024 and 2023 respectively.                                                                                             |

| (6) | On April 4, 2024, the Company and                                                                                              
 Mr. Dubash agreed to a mutual separation of employment, effective April 12, 2024. Mr. Dubash’s departure was not in connection 
 with any disagreements with the Company.                                                                                       |

| (7) | On behalf of Mr. Dubash, Zoomcar                                                                                                  
 made $42,623 and $20,357 in contributions to India’s Provident Fund, a defined contribution plan, for the fiscal year ended March 
 31, 2024 and 2023 respectively.                                                                                                   |

| (8) | Mr. Hiroshi Nishijima assumed responsibilities                                                                            
 as Zoomcar’s Chief Operating Officer in May 2022. Pursuant to the COO employment agreement, Mr. Nishijima’s annual salary 
 is $302,724 with an annual performance bonus opportunity of $17,189.                                                      |

| (9) | Mr. Nishijima received two short-term                                                                                                     
 retention incentives totaling $78,399 in respect of the fiscal year ended March 31, 2024 and two short-term retention incentives totaling 
 $40,000 in respect of the fiscal year ended March 31, 2023.                                                                               |

| (10) | On behalf of Mr. Nishijima, Zoomcar                                                                                               
 made $52,903 and $20,768 in contributions to India’s Provident Fund, a defined contribution plan, for the fiscal year ended March 
 31, 2024 and 2023 respectively.                                                                                                   |

Narrative to Summary Compensation Table Employment Agreements For the fiscal year ended March 31, 2024, Zoomcar maintained employment agreements with its Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer. Effective upon the Closing of the Business Combination, Zoomcar amended and restated the existing employment agreements with each of the Company’s CEO, CFO and COO. The amended and restated employment agreements govern the terms of continuing employment with Zoomcar India and also provide that each executive agrees to serve as