Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 546

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1A
Chunk 546
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 administrator makes an award transferable, such award will contain such additional terms and conditions as the plan administrator
deems appropriate.

Term

The Incentive Plan became
effective upon adoption by the Board and, unless terminated earlier, the Incentive Plan will continue in effect for a term of ten (10)
years.

Amendment and Termination

The Zoomcar Board may amend
or terminate the Incentive Plan at any time. Any such termination will not affect outstanding awards. No amendment, alteration, suspension,
or termination of the Incentive Plan will materially impair the rights of any participant, unless mutually agreed otherwise between the
participant and Zoomcar. Approval of the stockholders shall be required for any amendment, where required by applicable law, as well as
(i) to increase the number of shares available for issuance under the Incentive Plan and (ii) to change the persons or class of persons
eligible to receive awards under the Incentive Plan.

Form S-8

Zoomcar filed with the SEC
a registration statement on Form S-8 on February 11, 2025 to register an aggregate of 392,189 shares of Common Stock issuable under
the Incentive Plan. Thereafter, at our Special Meeting of Stockholders on February 18, 2025, our stockholders approved a one-time increase
in the number of shares of Common Stock available for issuance under the Incentive Plan in an amount equal to 15% of the number of our
shares of Common Stock issued and outstanding on March 31, 2025, which resulted in the addition of 369,311 shares available for awards
under the Incentive Plan. Thus, the total number of shares of Common Stock that may be issued under the Incentive Plan is currently 370,955
shares. Pursuant to this Stockholder Approval, the Company intends to further file a Form-S-8 to register these increased shares under
the Incentive Plan and any other shares as necessary.

102

Outstanding Equity Awards at Fiscal Year-End Table

Certain employees hold 16
options(post Second Reverse Split). Each equity award was granted subject to the terms of the 2012 Equity Plan which was assumed by the
company under the Incentive Plan.

Non-Employee Director Compensation Table

The following table presents
the total compensation earned and paid to non-employee members (“Directors”) of the Zoomcar Board for the fiscal year
beginning April 1,