Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 233

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 233
---
 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 attending meetings of the Board and any committee
of the Board on which they serve.

<div align='center'>136

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</div>

Note:All share information relating to
the Company’s shares of Common Stock does not reflect the Reverse Splits.

IOAC

Founder Shares

On April 17, 2021, the Sponsor
paid $25,000 to cover certain offering costs in consideration for 7,187,500 Class B ordinary shares, par value $0.0001. On September 20,
2021, IOAC effected a 1.12 share dividend for each Class B ordinary share outstanding, resulting in 8,050,000 founder shares being held
by the Sponsor, up to 1,050,000 shares of which were subject to forfeiture depending on the extent to which the underwriter’s over-allotment
option was