Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 201

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 201
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 1, 2025. Mr. Nishijima has also resigned from his position as the Chief Executive Officer. Mr. Nishijima’s resignation is effective from May 02, 2025 and was finalized by the Board on May 07,2025. Following his resignation the Board appointed Mr. Deepankar Tiwari as the Chief Executive Officer of the Company w.e.f. May 09, 2025 pursuant to the terms as recorded in the Consultant Agreement. His initial term is for one (1) year which can be extended upon mutual discussion. The monthly consultancy fee, bonuses, certain initial and kicker RSU grants for Mr. Deepankar Tiwari, are as contracted in the May 09, 2025, Consultant Agreement. In accordance with the terms of the Consultant Agreement, the Company has agreed to (i) pay Mr. Tiwari a service fee of $14,874 per month, (ii) grant Mr. Tiwari 1,000,000 (one million) RSUs (“initial Grant”) of which 250,000 RSU shall vest at the end of each quarter beginning from the Effective Date of the Consultant Agreement (iii) grant another 1,000,000 (one million) RSUs (“Kicker Grant”), if Mr. Tiwari and the Board mutually agree to extend his term for an additional one (1) year beyond the initial term for which the vesting schedule and set of performance objectives and key performance indicators (KPIs) for this grant is to be decided mutually by him and the Board. 128 The Consultant Agreement specifies certain compensation following termination, including severance payments of three months of Mr. Tiwari’s last drawn salary if Mr. Tiwari is terminated by the Company without “Cause” (as defined in the consultant agreement) payable either in lumpsum or in instalments as decided by the Board in accordance with the Company’s normal policies and practices. The consultant agreement further provides that such severance compensation shall be subject to reduction or offset by any fees, compensation, or income earned or received by Mr. Tiwari for services rendered to any other party during the severance period. Amended and Restated Agreement with Chief Financial Officer The annual base salary for Mr. Dubash was $313,500, plus an annual variable pay opportunity of up to $16,500. Mr. Dubash was eligible for a one-time supplemental bonus of $30,000, payable shortly following the amended