Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 2307

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 7A
Chunk 2307
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 prior to the completion
of the Business Combination.

In addition, under the new
director compensation policy, following the effective date of a Registration Statement on Form S-8, each non-employee director will receive
an initial equity award under the Incentive Plan in the form of RSUs with a value of $300,000 or, in the case of the Chairman of the Board,
$400,000. Further, following the effective date of a Registration Statement on Form S-8, it is expected that on the date of the annual
meeting of stockholders, each non-employee director then serving on the Board who has not received an initial equity award in the 12-month
period preceding the date of the annual meeting, will receive an annual equity award under the Incentive Plan in the form of RSUs with
a value of $100,000.

103

Each initial equity award
and annual equity award is expected to vest over a three-year period, with one-third to vest on the first anniversary of the grant date
and then quarterly thereafter (provided that any initial equity award granted to a non-employee director of Zoomcar as of immediately
following the Closing is expected to vest on the first anniversary of the Closing). In each case, vesting is subject to the non-employee
director’s service as a director through the vesting date. Each initial equity award and annual equity award is also expected to
accelerate in full upon a change in control of Zoomcar.

    Non- Employee Director Fees 
  
    Annual Board Cash Retainer 
    $75,000 
  
    Additional Retainer for Chairman of the Board 
    $15,000 
  
    Retainers for Committee Members 

    ●    Audit 
    $10,000 
  
    ●    Compensation 
    $6,000 
  
    ●    Nominating and Corporate Governance 
    $4,000 
  
    Additional Retainers for Committee Chairs 

    ●    Audit 
    $10,000 
  
    ●    Compensation 
    $6,000 
  
    ●    Nominating and Corporate Governance 
    $4,000 
  
    Initial Equity Award 
    $300,000 
  
    Additional Initial Equity Award for Chairman of the Board 
    $100,000 
  
    Annual Equity Award 
    $100,000 

Zoomcar will also reimburse
non-employee directors for reasonable travel and other expenses incurred in connection with