Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 2317

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 7A
Chunk 2317
---
ed $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
related person transactions.

A “Related Person Transaction”
is a transaction, arrangement or relationship in which Zoomcar or any of its subsidiaries was, is or will be a participant, the amount
of which involved exceeds $120,000, and in which any related person had, has or will have a direct or indirect material interest.

A “Related Person” means:

    ●
    any person who is, or at any time during the applicable period was, one of the Zoomcar’s officers or one of Zoomcar’s directors;

    ●
    any person who is known by Zoomcar to be the