Document:

Exhibit 10.2

 

FORM OF LOCK-UP AGREEMENT

 

This Lock-up Agreement (this
 “Agreement”) is made and entered into as of October 13, 2022, by and among (i) Innovative International Acquisition
Corp., a Cayman Islands exempted company (the “SPAC,” and after the Domestication sometimes referred to as the
 “Domesticated SPAC”), and (ii) each of the parties listed on Schedule 1 attached hereto (the “Existing
Equity Holders”). The Existing Equity Holders and any person or entity who hereafter enters into a joinder to this Agreement
substantially in the form of Exhibit A hereto are referred to herein, individually, as a “Securityholder”
and, collectively, as the “Securityholders.”

 

Capitalized terms used but
not defined herein have the meanings ascribed in the Agreement and Plan of Merger and Reorganization (the “Merger Agreement”)
dated as of the date hereof, entered into by and among the SPAC, Zoomcar, Inc., a Delaware corporation (the “Company”),
Greg Moran, in the capacity as the Seller Representative, and Innovative International Merger Sub, Inc., a Delaware corporation and a
wholly owned subsidiary of the SPAC (“Merger Sub”), pursuant to which, among other things, Merger Sub will merge
with and into the Company (the “Merger”), with the Company continuing as the surviving entity and as a wholly
owned subsidiary of the Domesticated SPAC.

 

WHEREAS, each Existing Equity
Holder is a holder of the Company Securities in such amounts and classes or series as set forth underneath such Existing Equity Holder’s
name on the signature page hereto.

 

WHEREAS, pursuant to the Merger
Agreement, and in view of the valuable consideration to be received by the parties thereunder, the parties desire to enter into this Agreement,
pursuant to which the Lock-up Shares (as defined below) shall become subject to limitations on disposition as set forth herein.

 

NOW, THEREFORE, in consideration of the premises
set forth above, which are incorporated in this Agreement as if fully set forth below, and intending to be legally bound hereby, the parties
hereto hereby agree as follows:

 

1.               
Subject to the exceptions set forth herein, the Securityholders agree not to (i) lend, sell, offer to sell, contract or agree to
sell, hypothecate, pledge, encumber, donate, assign, grant any option, right or warrant to purchase or otherwise transfer, dispose of
or agree to transfer or dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease
a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and the rules and regulations of the Securities and Exchange Commission promulgated thereunder, any shares of the
Domesticated SPAC’s Common Stock, par value $0.0001 per share (the “Common Stock”) held by it immediately
after the Effective Time or issued or issuable to the Securityholders in connection with the Merger (including Common Stock acquired as
part of the Private Placements or issued in exchange for, or on conversion or exercise of, any securities issued as part of the Private
Placements), any shares of Common Stock issuable upon the exercise of options, warrants, or convertible debt to purchase shares of Common
Stock held by it immediately after the Effective Time, or any other securities convertible into or exercisable or exchangeable for Common
Stock held by it immediately after the Effective Time (the “Lock-up Shares”), (ii) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any of the Lock-up Shares,
whether any such transaction is to be settled by delivery of such securities, in cash or otherwise or (iii) publicly announce any intention
to effect any transaction specified in clause (i) or (ii) (the actions specified in clauses (i)-(iii), collectively, “Transfer”)
during the period beginning on the Closing Date and ending on the date described in paragraph 3 (the “Lock-up Period”).

 

     

     

    

 

2.               
The restrictions set forth in paragraph 1 shall not apply to:

 

		(i)	in the case of an entity, a Transfer (A) to another entity that is an affiliate (as defined in Rule 405
promulgated under the Securities Act of 1933, as amended) of the undersigned, or to any investment fund or other entity controlling, controlled
by, managing or managed by or under common control with the undersigned or affiliates of the undersigned or who shares a common investment
advisor with the undersigned or (B) as part of a distribution to members, partners or shareholders of the undersigned;

 

		(ii)	in the case of an individual, Transfers by bona fide gift to members of the individual’s immediate
family (as defined below) or to a trust, the beneficiary of which is a holder or a member of one of the individual’s immediate family,
an affiliate of such person or to a charitable organization;

 

		(iii)	in the case of an individual, Transfers by virtue of laws of descent and distribution upon death of the
individual;

 

		(iv)	in the case of an individual, Transfers by operation of law or pursuant to a qualified domestic relations
order;

 

		(v)	in the case of an individual, Transfers to a partnership, limited liability company or other entity of
which the undersigned and/or the immediate family (as defined below) of the undersigned are the legal and beneficial owner of all of the
outstanding equity securities or similar interests;

 

		(vi)	in the case of an entity that is a trust, Transfers to a trustor or beneficiary of the trust or to the
estate of a beneficiary of such trust;

 

		(vii)	in the case of an entity, Transfers by virtue of the laws of the state of the entity’s organization
and the entity’s organizational documents upon dissolution of the entity;

 

		(viii)	Transfers relating to Common Stock or other securities convertible into or exercisable or exchangeable
for Common Stock acquired in open market transactions after the Closing, provided that no such transaction is required to be, or is, publicly
announced (whether on Form 4, Form 5 or otherwise, other than a required filing on Schedule 13F, 13G or 13G/A) during the Lock-up Period;

 

		(ix)	the exercise of stock options or warrants to purchase shares of Common Stock or the vesting of stock awards
of Common Stock and any related transfer of shares of Common Stock to the Domesticated SPAC in connection therewith (x) deemed to occur
upon the “cashless” or “net” exercise of such options or warrants or (y) for the purpose of paying the exercise
price of such options or warrants or for paying taxes due as a result of the exercise of such options or warrants, the vesting of such
options, warrants or stock awards, or as a result of the vesting of such shares of Common Stock, it being understood that all shares of
Common Stock received upon such exercise, vesting or transfer will remain subject to the restrictions of this Agreement during the Lock-up
Period;

 

		(x)	Transfers to the Domesticated SPAC pursuant to any contractual arrangement in effect at the Effective
Time that provides for the repurchase by the Domesticated SPAC or forfeiture of Common Stock or other securities convertible into or exercisable
or exchangeable for Common Stock in connection with the termination of the Securityholder’s service to the Domesticated SPAC;

 

     

     

    

 

		(xi)	the entry, by the Securityholder, at any time after the Effective Time, of any trading plan providing
for the sale of shares of Common Stock by the Securityholder, which trading plan meets the requirements of Rule 10b5-1(c) under the Exchange
Act, provided, however, that such plan does not provide for, or permit, the sale of any shares of Common Stock during the
Lock-up Period, no Transfers under such trading plan are effected prior to the expiration of the Lock-Up Period and no public announcement
or filing is voluntarily made or required regarding such plan during the Lock-up Period;

 

		(xii)	Transfers in the event of completion of a liquidation, merger, stock exchange or other similar transaction
which results in all of the Domesticated SPAC’s securityholders having the right to exchange their shares of Common Stock for cash,
securities or other property; and

 

		(xiii)	Transfers to satisfy any U.S. federal, state, or local income tax obligations of the Securityholder (or
its direct or indirect owners) arising from a change in the U.S. Internal Revenue Code of 1986, as amended (the “Code”),
or the U.S. Treasury Regulations promulgated thereunder (the “Regulations”) after the date on which the Merger
Agreement was executed by the parties, and such change prevents the Merger from qualifying as a “reorganization” pursuant
to Section 368 of the Code (and the Merger does not qualify for similar tax-free treatment pursuant to any successor or other provision
of the Code or Regulations taking into account such changes), in each case solely and to the extent necessary to cover any tax liability
as a direct result of the transaction.

 

provided, however, that (A) in the case
of clauses (i) through (vii), these permitted transferees must enter into a written agreement, in substantially the form of this Agreement
(it being understood that any references to “immediate family” in the agreement executed by such transferee shall expressly
refer only to the immediate family of the Securityholder and not to the immediate family of the transferee), agreeing to be bound by these
Transfer restrictions applicable to the Securityholder, and there shall be no further Transfer of the Lock-Up Shares except in accordance
with this Agreement. For purposes of this paragraph, “immediate family” shall mean a spouse, domestic partner, child (including
by adoption), father, mother, brother or sister of the undersigned, and lineal descendant (including by adoption) of the undersigned or
of any of the foregoing persons; and “affiliate” shall have the meaning set forth in Rule 405 under the Securities Act of
1933, as amended.

 

3.               
The Lock-up Period shall terminate upon the earlier of (i) six months after the Closing Date or (ii) subsequent to the Merger,
(x) if the last sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, share capitalizations,
rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period
commencing at least 150 days after the Closing Date or (y) the date on which the Domesticated SPAC completes a liquidation, merger, capital
stock exchange, reorganization or other similar transactions that results in all of the Domesticated SPAC’s stockholders having
the right to exchange their shares of cash, securities or other property.

 

4.               
For the avoidance of doubt, each Securityholder shall retain all of its rights as a stockholder of the Domesticated SPAC with respect
to the Lock-up Shares during the Lock-up Period, including the right to vote any Lock-up Shares that are entitled to vote.

 

5.                In
furtherance of the foregoing, the Domesticated SPAC, and any duly appointed transfer agent for the registration or transfer of the
securities described therein, are hereby authorized to decline to make any transfer of securities if such transfer would constitute
a violation or breach of this Agreement, and such purported Transfer shall be null and void ab initio. In addition, during
the Lock-up Period, each certificate or book-entry position evidencing the Lock-up Shares shall be marked with a legend in
substantially the following form, in addition to any other applicable legends:

 

     

     

    

 

“THE SECURITIES REPRESENTED HEREBY
ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT BY AND AMONG THE COMPANY AND THE REGISTERED HOLDER OF THE SECURITIES
(OR THE PREDECESSOR IN INTEREST TO THE SECURITIES). A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO
THE HOLDER HEREOF UPON WRITTEN REQUEST.”

 

		6.	Each Securityholder hereby represents and warrants to SPAC as follows:

 

		(i)	Such Securityholder has all necessary power and authority to execute and deliver this Agreement and to
perform such Securityholder’s obligations hereunder. The execution and delivery of this Agreement by such Securityholder has been
duly and validly authorized and no other action on the part of such Securityholder is necessary to authorize this Agreement. This Agreement
has been duly and validly executed and delivered by such Securityholder and, assuming the due authorization, execution and delivery by
the other Securityholders and SPAC, constitutes a legal, valid and binding obligation of such Securityholder, enforceable against such
Securityholder in accordance with its terms, subject to the Remedies Exceptions.

 

		(ii)	The execution and delivery of this Agreement by such Securityholder does not, and the performance of this
Agreement by such Securityholder will not: (i) conflict with or violate any applicable law applicable to such Securityholder, (ii) contravene
or conflict with, or result in any violation or breach of, any provision of any charter, articles of association, operating agreement
or similar formation or governing documents and instruments of such Securityholder, or (iii) result in any breach of or constitute a material
default (or an event which, with notice or lapse of time or both, would become a material default) under, or give to others any rights
of termination, amendment, acceleration or cancellation of, or result in the creation of a Lien on any of the Lock-up Shares that will
be held by such Securityholder immediately after the Effective Time pursuant to any note, bond, mortgage, indenture, contract, agreement,
lease, license, permit, franchise or other instrument (whether written or oral) to which such Securityholder is a party or by which such
Securityholder is bound, except, in the case of clause (i) or (iii), for any such conflicts, violations, breaches, defaults or other occurrences
which, individually or in the aggregate, would not reasonably be expected to materially impair the ability of such Securityholder to perform
such Securityholder’s obligations hereunder.

 

		(iii)	The execution and delivery of this Agreement by such Securityholder does not, and the performance of this
Agreement by such Securityholder will not, require any consent, approval, authorization or permit of, or filing with or notification to,
or expiration or termination of any waiting period by, any Governmental Authority or any other person, except (i) for applicable requirements,
if any, of the Exchange Act, the Securities Act, and Blue Sky Laws and (ii) where the failure to obtain such consents, approvals, authorizations
or permits, or to make such filings or notifications, individually or in the aggregate, would not reasonably be expected to materially
impair the ability of such Securityholder to perform such Securityholder’s obligations hereunder.

 

		(iv)	There is no material Action pending or, to the knowledge of such Securityholder, threatened against such
Securityholder, which in any manner challenges or, individually or in the aggregate, would reasonably
be expected to materially delay or impair the ability of such Securityholder to perform such Securityholder’s obligations hereunder.

 

     

     

    

 

7.               
This Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements or representations by or among the parties hereto, written or oral, to the extent
they relate in any way to the subject matter hereof or the transactions contemplated hereby provided, that, for the avoidance of
doubt, the foregoing shall not affect the rights and obligations of the parties under the Merger Agreement or any Ancillary Documents
or any documents related thereto or referred to therein. This Agreement may not be changed, amended, modified or waived (other than to
correct a typographical error) as to any particular provision, except by a written instrument executed by (i) the Securityholders constituting
more than 50% of the total number of Securityholders who have executed this Agreement (or a form of agreement substantially similar to
this Agreement)and (ii) the SPAC or the Domesticated SPAC, as applicable.

 

8.               
This Agreement shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any party without the
prior express written consent of the other parties hereto. Subject to the foregoing, this Agreement
shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns. Any attempted
assignment in violation of the terms of this paragraph 8 shall be null and void, ab initio.

 

9.               
The provisions set forth in Sections 9.5, 9.6 and 9.7 of the Merger Agreement, as in effect as of the date hereof, are hereby incorporated
by reference into, and shall be deemed to apply to, this Agreement, mutatis mutandis.

 

10.            
The parties hereto hereby (i) irrevocably submit to the exclusive jurisdiction of the aforesaid courts for themselves and with
respect to their respective properties for the purpose of any Action arising out of or relating to this Agreement brought by any party
hereto, and (ii) agree not to commence any Action relating thereto except in the courts described above in Delaware, other than Actions
in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as described herein.
Each of the parties further agrees that notice as provided herein shall constitute sufficient service of process and the parties further
waive any argument that such service is insufficient. Each of the parties hereby irrevocably and unconditionally waives, and agrees not
to assert, by way of motion or as a defense, counterclaim or otherwise, in any Action arising out of or relating to this Agreement, (i)
any claim that it is not personally subject to the jurisdiction of the courts in Delaware as described herein for any reason, (ii) that
it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether
through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise)
and (iii) that (a) the Action in any such court is brought in an inconvenient forum, (b) the venue of such Action is improper or (c) this
Agreement, or the subject matter hereof, may not be enforced in or by such courts. Each of the parties hereto hereby waives to the fullest
extent permitted by applicable law any right it may have to a trial by jury with respect to any litigation directly or indirectly arising
out of, under or in connection with this Agreement. Each of the parties hereto (i) certifies that no representative, agent or attorney
of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce
that foregoing waiver and (ii) acknowledges that it and the other hereto have been induced to enter into this Agreement, as applicable,
by, among other things, the mutual waivers and certifications in this paragraph 10.

 

11.             The
parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with
the terms hereof, and, accordingly, that the parties shall be entitled to an injunction or injunctions to prevent breaches of this
Agreement or to enforce specifically the performance of the terms and provisions hereof in the Court of Chancery of the State of
Delaware or, if under applicable law exclusive jurisdiction over such matter is vested in the federal courts, any state or federal
court located in the State of Delaware, without proof of actual damages or otherwise, in addition to any other remedy to which they
are entitled at law or in equity. Each of the parties hereto hereby further waives (i) any defense in any action for specific
performance that a remedy at law would be adequate and (ii) any requirement under any law to post security or a bond as a
prerequisite to obtaining equitable relief.

 

     

     

    

 

12.            
This Agreement shall be valid and enforceable as of the date of this Agreement and may not be revoked by any party hereto; provided
that the provisions herein (other than paragraphs 6 through 14) shall not be effective until the consummation of
the Closing Date. Notwithstanding anything to the contrary contained herein, in the event that the Merger Agreement is terminated
in accordance with its terms prior to the Closing, this Agreement and all rights and obligations of the parties hereunder shall automatically
terminate and be of no further force or effect.

 

13.            
The provisions set forth in Section 8.1 (Waiver of Claims Against Trust) of the Merger Agreement, as in effect as of the date hereof,
are hereby incorporated by reference into, and shall be deemed to apply to, this Agreement, mutatis mutandis, solely for  period
between the date of this Agreement and the Effective Time.the

 

14.            
This Agreement may be executed in several counterparts, each of which shall be deemed an original and all of which shall constitute
one and the same instrument.   Delivery of an executed counterpart of a signature page to this Agreement by electronic means,
including DocuSign, e-mail, or scanned pages shall be effective as delivery of a manually executed counterpart to this Agreement.

 

[Remainder of page intentionally left blank]

 

     

     

    

 

IN WITNESS WHEREOF, each of
the parties hereto has duly executed this Lock-up Agreement as of the first date written above.

 

	 	SPAC:
	 	 
	 	INNOVATIVE INTERNATIONAL ACQUISITION CORP.
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	SECURITYHOLDER:
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	Number and Type of Security: 
	 	 
	 	Company Common Stock: 
	 	 
	 	Company Preferred Stock:
	 	 
	 	Address for Notice: 
	 	 
	 	Address:	 
	 	 
	 	 
	 	 
	 	Telephone No.:	 
	 	Email:	 

 

     

     

    

 

IN WITNESS WHEREOF, each of
the parties hereto has duly executed this Lock-up Agreement as of the first date written above.

 

	 	SPAC:
	 	 
	 	INNOVATIVE INTERNATIONAL ACQUISITION CORP.
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	SECURITYHOLDER:
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	Number and Type of Security: 
	 	 
	 	Company Common Stock: 
	 	 
	 	Company Preferred Stock:
	 	 
	 	Address for Notice: 
	 	 
	 	Address:	 
	 	 
	 	 
	 	 
	 	Telephone No.:	 
	 	Email:	 

 

     

     

    

 

IN WITNESS WHEREOF, each of
the parties hereto has duly executed this Lock-up Agreement as of the first date written above.

 

	 	SPAC:
	 	 
	 	INNOVATIVE INTERNATIONAL ACQUISITION CORP.
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	SECURITYHOLDER:
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	Number and Type of Security: 
	 	 
	 	Company Common Stock: 
	 	 
	 	Company Preferred Stock:
	 	 
	 	Address for Notice: 
	 	 
	 	Address:	 
	 	 
	 	 
	 	 
	 	Telephone No.:	 
	 	Email:	 

 

     

     

    

 

IN WITNESS WHEREOF, each of
the parties hereto has duly executed this Lock-up Agreement as of the first date written above.

 

	 	SPAC:
	 	 
	 	INNOVATIVE INTERNATIONAL ACQUISITION CORP.
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	SECURITYHOLDER:
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	Number and Type of Security: 
	 	 
	 	Company Common Stock: 
	 	 
	 	Company Preferred Stock:
	 	 
	 	Address for Notice: 
	 	 
	 	Address:	 
	 	 
	 	 
	 	 
	 	Telephone No.:	 
	 	Email:	 

 

     

     

    

 

IN WITNESS WHEREOF, each of
the parties hereto has duly executed this Lock-up Agreement as of the first date written above.

 

	 	SPAC:
	 	 
	 	INNOVATIVE INTERNATIONAL ACQUISITION CORP.
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	SECURITYHOLDER:
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	Number and Type of Security: 
	 	 
	 	Company Common Stock: 
	 	 
	 	Company Preferred Stock:
	 	 
	 	Address for Notice: 
	 	 
	 	Address:	 
	 	 
	 	 
	 	 
	 	Telephone No.:	 
	 	Email:	 

 

     

     

    

 

IN WITNESS WHEREOF, each of
the parties hereto has duly executed this Lock-up Agreement as of the first date written above.

 

	 	SPAC:
	 	 
	 	INNOVATIVE INTERNATIONAL ACQUISITION CORP.
	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

	 	SECURITYHOLDER:
	 	 
	 	By:	           
	 	Its:	 
	 	By:	 
	 	Its:	 

 

	 	Address for Notice: 
	 	 
	 	Address:	 
	 	 
	 	 
	 	 
	 	Telephone No.:	 
	 	Email:	 

 

     

     

    

 

SCHEDULE I1

 

EXISTING EQUITY HOLDERS

 

 

 

1 The exhibits
and schedules to this Exhibit have been omitted in accordance with Item 601(b)(2) of Regulation S-K. The Registrant agrees to furnish
supplementally to the SEC a copy of all omitted exhibits and schedules upon its request.

 

     

     

    

 

Joinder

 

Reference is made to that
certain Lock-up Agreement, dated as of [ ], 2022, by and among (i) Innovative International Acquisition Corp., a Cayman Islands exempted
company (the “SPAC”), and (ii) the Securityholders (as defined therein) (as amended from time to time, the “Lock-up
Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the
Lock-up Agreement.

 

The undersigned agrees that
this joinder to the Lock-up Agreement (this “Joinder”) is being executed and delivered in favor of, and to,
the SPAC for good and valuable consideration.

 

The undersigned hereby agrees
to and does become party to the Lock-up Agreement as a Securityholder. This joinder shall serve as a counterpart signature page to the
Lock-up Agreement and by executing below the undersigned is deemed to have executed the Lock-up Agreement with the same force and effect
as if originally named a party thereto.

 

[Remainder of Page Intentionally Left Blank.]

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned
has duly executed this joinder to the Lock-up Agreement.

 

	 	[NEW SECURITYHOLDER PARTY]
	 	 
	 	 
	 	By:	           
	 	 	Name:
	 	 	Title:
	 	 	Date:Exhibit 10.3

 

SPONSOR SUPPORT AGREEMENT

 

This SPONSOR SUPPORT AGREEMENT
(this “Agreement”) is made and entered into as of October 13, 2022, by and among Innovative International Sponsor
I LLC, a Delaware limited liability company (“Sponsor”), Innovative International Acquisition Corp., a Cayman
Islands exempted company (“Purchaser”), Zoomcar, Inc., a Delaware corporation (“Company”,
and together with Sponsor and Purchaser, the “Parties”). Capitalized terms used but not defined herein have the meanings
assigned to them in the Agreement and Plan of Merger and Reorganization dated as of the date of this Agreement (as amended from time to
time, the “Merger Agreement”) by and among Purchaser, [Innovative International Merger Sub, Inc.] (“Merger
Sub”), Company and Seller Representative.

 

WHEREAS, Sponsor owns 8,050,000
Class B Ordinary Shares, par value $0.0001 per share, of Purchaser (the “Insider Shares”);

 

WHEREAS, in connection with
Purchaser’s initial public offering (the “IPO”), Purchaser, Sponsor and certain officers and directors of Purchaser
(collectively, the “Insiders”) entered into a letter agreement, dated as of October 26, 2021 (the “Insider
Letter”), pursuant to which Sponsor and the Insiders agreed to certain voting requirements, transfer restrictions and waiver
of redemption rights with respect to Purchaser securities owned by them;

 

WHEREAS, Article 17, Section
17.2 of Purchaser’s Amended and Restated Memorandum and Articles of Association (the “Purchaser Charter”) provides,
among other matters, that the Insider Shares will automatically convert into Class A Ordinary Shares, par value $0.0001 per share, of
Purchaser upon the consummation of an initial business combination, subject to adjustment if additional Class A Ordinary Shares (together
with any successor equity security thereto in the Transactions (as defined below), “Class A Common Stock”), or Equity-linked
Securities (as defined in Purchaser Charter), are issued or deemed issued in excess of the amounts sold in Purchaser’s IPO (the
 “Anti-Dilution Right”), excluding certain exempted issuances;

 

WHEREAS, concurrently with
the execution and delivery of this Agreement, Purchaser, Merger Sub, Seller Representative and Company are entering into the Merger Agreement,
pursuant to which, upon the consummation of the transactions contemplated thereby (the “Closing”), among other matters,
Merger Sub will merge with and into Company (with Company continuing as the surviving entity) upon the terms and subject to the conditions
set forth therein (the transactions contemplated by the Merger Agreement, the “Transactions”); and

 

WHEREAS, as a condition and
inducement to Company’s willingness to enter into the Merger Agreement, Company has required that Sponsor enter into this Agreement.

 

NOW, THEREFORE, in consideration
of the representations, warranties, covenants and agreements contained herein and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, and subject to the conditions set forth herein, the parties hereto agree as follows:

 

Section 1 Enforcement
of Insider Letter; Agreement to Vote; Redemption and Transfer of Insider Shares.

 

(a)              During
the period beginning on the date of this Agreement and ending on the earlier of (x) the Effective Time and (y) the date on which the
Merger Agreement is validly terminated in accordance with its terms, for the benefit of Company, (a) Sponsor agrees that it will
comply with, and perform all of its obligations, covenants and agreements set forth in the Insider Letter in all respects, including
voting in favor of the Transactions, (b) Purchaser agrees to enforce the Insider Letter in accordance with its terms, and (c) each
of Sponsor and Purchaser agrees not to amend, modify or waive any terms of the Insider Letter without the prior written consent of
Company (not to be unreasonably withheld, delayed or conditioned).

 

     

     

    

 

(b)            
Sponsor, by this Agreement, with respect to its Insider Shares and any other shares of Purchaser that it now or hereafter owns
or directs the voting of, hereby agrees to (a) vote at any meeting of the shareholders of Purchaser, and in any action by written consent
of the shareholders of Purchaser, all such shares (including the Insider Shares) (i) in favor of the approval and adoption of the Merger
Agreement and the Transactions, including the Purchaser Shareholder Approval Matters; and (ii) in favor of any other matter reasonably
necessary to the consummation of the Transactions and considered and voted upon by the shareholders of Purchaser; (b) appear at any meeting
of the shareholders of Purchaser at which Purchaser’s shareholders are voting to approve the Purchaser Shareholder Approval Matters,
and in any action by written consent of the shareholders of Purchaser to approve the Purchaser Shareholder Approval Matters, for purposes
of constituting a quorum and (c) with the exception of the Adjournment Proposal, if presented for consideration by Purchaser’s shareholders,
vote at any meeting of the shareholders of Purchaser, and in any action by written consent of the shareholders of Purchaser, against any
proposals that would impede the consummation of the Transactions contemplated by the Merger Agreement in any manner.

 

(c)             
Sponsor agrees that it shall not, directly or indirectly, prior to the Closing, (a) redeem any of the Insider Shares or any other
shares of Purchaser that it now or hereafter owns or holds; (b) Transfer (as defined below) any Insider Shares; (c) deposit any Insider
Shares into a voting trust or enter into a voting agreement or arrangement or grant any proxy or power of attorney with respect thereto
that is inconsistent with this Agreement (clauses (a) through (c) collectively, “Convey”), or (d) publicly announce
any intention to Convey any Insider Shares. As used herein, “Transfer” shall mean the (a) sale of, offer to sell, contract
or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly
or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent
position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Securities
and Exchange Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers
to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be
settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified
in clause (a) or (b); provided, however, that nothing in this Section 1(c) shall prevent Transfers (i) to Purchaser’s officers or
directors, any affiliates or family members of any of Purchaser’s officers or directors, any direct or indirect members or partners
of Sponsor or their affiliates, any affiliates of Sponsor, or any employees of such affiliates; (ii) in the case of an individual, by
virtue of laws of descent and distribution upon death of the individual; (iii) in the case of an individual, pursuant to a qualified domestic
relations order; or (iv) by virtue of Sponsor’s organizational documents upon liquidation or dissolution of Sponsor; (v) by
certain pledges to secure obligations incurred in connection with purchases of Purchaser’s securities, or (vi) by private sales
made at or prior to the consummation of the Transactions at prices no greater than the price at which the Insider Shares were originally
purchased; provided, however, that in the case of clauses (i) through (vi), these permitted transferees must enter into a written agreement
agreeing to be bound by the terms of this Agreement.

 

Section 2 Extension
Payment.

 

(a)             
Sponsor and Purchaser acknowledge that Purchaser’s deadline to complete an initial business combination pursuant to the terms
of the Purchaser Charter expires on January 29, 2023 (the “Initial Deadline”), unless otherwise extended in accordance
with the Purchaser Charter.

 

(b)             Subject
to Section 2(d), Sponsor and Purchaser hereby covenant and agree to take (or to cause its affiliates or designees to take)
all actions necessary to fulfill the conditions required in order to extend the Initial Deadline by a six (6) months or such shorter
period as shall be mutually agreed by Purchaser, Sponsor, and the Company in accordance with the Merger Agreement (the
 “Extension”), including, without limitation, to make payment to one or more non-redeeming shareholders of
Purchaser, the amount of which reasonably determined by Purchaser, Sponsor, in consultation with Company (the “Extension
Payment”) in connection with such Extension (which payment shall take the form of a non-interest bearing loan repayable
only in cash), all as reasonably requested by Company.

 

     

     

    

 

(c)             
Sponsor hereby represents, warrants and covenants to Company that, as of the date by which the Extension Payment is required to
be made (the “Extension Payment Date”), Sponsor (or its affiliates or designees) will have ready access to sufficient
capital available to carry out its obligations under this Section 2 hereof.

 

(d)            
Notwithstanding anything to the contrary set forth herein, in no event shall the Sponsor or the Purchaser be obligated to make
the Extension Payment or otherwise effect the Extension unless, as of the Extension Payment Date: (i) the Merger Agreement is in full
force and effect; (ii) there shall have been no material breach of the terms or conditions of the Merger Agreement by the Company or any
other party thereto (other than the Purchaser), and (iii) no Material Adverse Effect shall have occurred and remained uncured on the Target
Companies, taken as a whole that has not been waived by the Purchaser pursuant to the Merger Agreement.

 

(e)             
Any Claim by the Company hereunder seeking to enforce the specific terms or provisions set forth in this Section 2, or which seeks
to recover any damages as a result of a violation or alleged violation of this Section 2, shall be limited, in its entity, to the amount
of the Extension Payment (and shall be subject, in all cases, to the terms of Section 4(e)), in the even that of any Claims against the
Purchaser).

 

Section 3 Intentionally
Omitted. 

 

Section 4 Waiver of
Anti-Dilution Protection. Sponsor, as the holder of all of the issued and outstanding Class B Ordinary Shares, solely in connection
with and only for the purpose of the proposed Transactions, hereby waives, to the fullest extent permitted by applicable Law, Anti-Dilution
Right, and agrees that the Class B Ordinary Shares will convert only upon the Initial Conversion Ratio (as defined in the Purchaser Charter)
in connection with the Transactions. This waiver shall be void and of no force and effect following the earlier of (x) the Effective Time
and (y) the date on which the Merger Agreement is validly terminated in accordance with its terms. All other terms related to the Class
B Ordinary Shares shall remain in full force and effect, except as modified as set forth directly above, which modification shall be effective
only upon the consummation of the Transactions.

 

Section 5 Financing
Transactions. Sponsor shall, and shall cause its affiliates to, use best efforts to cooperate with Purchaser or Company in connection
with efforts to obtain the Financing Transactions. Without limiting the foregoing, if requested by Company, Sponsor shall, and shall cause
its affiliates to, reasonably cooperate with Company in connection with discussion, negotiation and entry into the applicable definitive
agreements in connection with any Financing Agreements (including participation in any investor meetings and roadshows as reasonably requested
by Purchaser).

 

Section 6 Intentionally
Omitted.

 

Section 7 Representations
and Warranties. Sponsor represents and warrants to Company as follows:

 

(a)             
Sponsor is the sole record and beneficial owner of the Insider Shares, free and clear of all liens other than transfer restrictions
imposed by applicable securities laws.

 

     

     

    

 

(b)            
 Sponsor is duly organized, validly existing and in good standing under the laws of Delaware and has all requisite power and authority
to execute and deliver this Agreement and to consummate the transactions contemplated hereby and to perform all of its obligations hereunder.
The execution and delivery of this Agreement has been, and the consummation of the transactions contemplated hereby have been, duly authorized
by all requisite action by Sponsor. This Agreement has been duly and validly executed and delivered by Sponsor and, assuming this Agreement
has been duly authorized, executed and delivered by the other parties hereto, this Agreement constitutes, and upon its execution will
constitute, a legal, valid and binding obligation of Sponsor enforceable against it in accordance with its terms.

 

(c)             
Sponsor understands and acknowledges that each of Purchaser and Company is entering into the Merger Agreement in reliance upon
Sponsor’s execution and delivery of this Agreement.

 

Section 8 General.

 

(a)             
Termination. This Agreement shall terminate at such time, if any, as the Merger Agreement is terminated in accordance with
its terms prior to the Closing, and upon such termination this Agreement shall be null and void and of no effect whatsoever, and the parties
hereto shall have no obligations under this Agreement; provided, however, that no termination of this Agreement shall relieve
or release a party from any obligations or liabilities arising out of such party’s breaches of this Agreement prior to such termination.

 

(b)            
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have
been duly given when delivered (i) in person, (ii) by email during normal business hours, (iii) by FedEx or other nationally recognized
overnight courier service, or (iv) after posting in the United States mail having been sent registered or certified mail return receipt
requested, postage prepaid, and otherwise on the next Business Day, addressed as follows (or at such other address for a party as shall
be specified by like notice):

 

	
    If to Purchaser:

     

    Innovative International Acquisition Corp.

    24681 La Plaza Ste 300

    Dana Point, CA 92629

    Attn: Mohan Ananda

    Telephone No.: (805) 907-0597

    Email: mohan@innovativeacquisitioncorp.com

     
	
    With a copy (which will not constitute notice) to:

     

    McDermott Will & Emery LLP

    One Vanderbilt Avenue

    New York, New York 10017

    Attn: Ari Edelman, Esq.

    Attn: Sunyi Snow, Esq.

    Telephone No.: (212) 547-5372

    Email: aedelman@mwe.com

    Email: ssnow@mwe.com

     

	
    If to Company, to:

     

    Zoomcar, Inc.

    40 Archer Drive

    Bronxville, NY 10708

    Attn: Gregory Moran

    Telephone No.: 917-693-2861

    Email: Greg@zoomcar.com

     
	
    With a copy (which shall not constitute notice) to:

     

    Ellenoff Grossman & Schole LLP

    1345 Avenue of the Americas, 11th Floor

    New York, New York 10105

    Attn: Stuart Neuhauser, Esq.

    Attn: Meredith Laitner, Esq.

    Telephone No.: (212) 370-1300

    Email: sneuhauser@egsllp.com

    Email: mlaitner@egsllp.com

     

 

     

     

    

 

	
    If to Sponsor, to:

     

    Innovative International Sponsor I LLC

     

    24681 La Plaza Ste 300

    Dana Point, CA 92629

    Attn: Mohan Ananda

    Telephone No.: (805) 907-0597

    Email: mohan@innovativeacquisitioncorp.com

     
	
    With a copy (which shall not constitute notice) to:

     

    McDermott Will & Emery LLP

    One Vanderbilt Avenue

    New York, New York 10017

    Attn: Ari Edelman, Esq.

    Attn: Sunyi Snow, Esq.

    Telephone No.: (212) 547-5372

    Email: aedelman@mwe.com

    Email: ssnow@mwe.com

     

 

(c)             
Entire Agreement. This Agreement (including the Merger Agreement and each of the other documents and the instruments referred
to herein, to the extent incorporated herein) constitutes the entire agreement and understanding of the parties hereto in respect of the
subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written
or oral, to the extent they relate in any way to the subject matter hereof.

 

(d)            
Governing Law; Jurisdiction; Waiver of Jury Trial. Sections 9.5 and 9.6 of the Merger Agreement shall apply to this Agreement
mutatis mutandis.

 

(e)             
Remedies. The Parties agree that in the event of Purchaser’s breach of Section 2 hereof, Company and Sponsor
will suffer actual damages that will be impractical or extremely difficult to ascertain. The Parties agree that the full and fair remedy
for any breach by Purchaser of Section 2 hereof shall be the aggregate amount of actual Extension Expenses incurred, not as a penalty
but as liquidated damages representing the Parties’ good faith and reasonable estimate at the time of executing this Agreement of
the damages that Company and Sponsor will sustain for such breach. Each party acknowledges and agrees that this Section 8(e) shall
be the sole and exclusive remedy for any claims brought or remedies attempted to be sought in respect of Purchaser pursuant to this Agreement,
and that no specific performance or other equitable relief shall be available upon a breach or violation of Section 2 hereof.

 

(f)             
Amendments and Waivers. This Agreement may be amended or modified only with the written consent of Purchaser, Company and
Sponsor. The observance of any term of this Agreement may be waived (either generally or in a particular instance, and either retroactively
or prospectively) only with the written consent of the party against whom enforcement of such waiver is sought. No failure or delay by
a party in exercising any right hereunder shall operate as a waiver thereof. No waivers of or exceptions to any term, condition, or provision
of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term,
condition, or provision.

 

(g)            
Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction,
the other provisions of this Agreement shall remain in full force and effect. The parties further agree that if any provision contained
herein is, to any extent, held invalid or unenforceable in any respect under the Laws governing this Agreement, they shall take any actions
necessary to render the remaining provisions of this Agreement valid and enforceable to the fullest extent permitted by Law and, to the
extent necessary, shall amend or otherwise modify this Agreement to replace any provision contained herein that is held invalid or unenforceable
with a valid and enforceable provision giving effect to the intent of the parties.

 

     

     

    

 

(h)             Assignment.
No party hereto may assign either this Agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other parties, provided, that in the event that Sponsor transfers any of the Insider Shares in a permitted transfer,
and in accordance with Section 1(c) hereof (the recipient of any such permitted transfer, a “Permitted
Transferee”), Sponsor may, by providing notice to Purchaser and Company prior to or promptly after such transfer, transfer
its rights and obligations under this Agreement with respect to such Insider Shares to such Permitted Transferee so long as such
Permitted Transferee agrees in writing to be bound by the terms of this Agreement that apply to Sponsor hereunder with respect to
such Insider Shares. Any purported assignment in violation of this ‎Section 8(h) shall be
void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This Agreement
shall be binding on the undersigned and their respective successors and permitted assigns.

 

(i)              
Costs and Expenses. Each party to this Agreement will pay its own costs and expenses (including legal, accounting and other
fees) relating to the negotiation, execution, delivery and performance of this Agreement.

 

(j)              
No Joint Venture. Nothing contained in this Agreement shall be deemed or construed as creating a joint venture or partnership
between any of the parties hereto. No party is by virtue of this Agreement authorized as an agent, employee or legal representative of
any other party. Without in any way limiting the rights or obligations of any party hereto under this Agreement, prior to the Effective
Time, (i) no party shall have the power by virtue of this Agreement to control the activities and operations of any other and (ii) no
party shall have any power or authority by virtue of this Agreement to bind or commit any other party. No party shall hold itself out
as having any authority or relationship in contravention of this ‎Section 8(j).

 

(k)            
Capacity as Shareholder. Sponsor signs this Agreement solely in its capacity as a shareholder of Purchaser, and not in its
capacity as a director (including “director by deputization”), officer or employee of Purchaser, if applicable. Nothing herein
shall be construed to limit or affect any actions or inactions by Sponsor or any representative of Sponsor, as applicable, serving as
a director of Purchaser or any Subsidiary of Purchaser, acting in such person’s capacity as a director or officer of Purchaser or
any Subsidiary of Purchaser (it being understood and agreed that the Merger Agreement contains provisions that govern the actions or inactions
by the directors of Company with respect to the Merger).

 

(l)              
Headings; Interpretation. The headings and subheadings in this Agreement are for convenience only and shall not be considered
a part of or affect the construction or interpretation of any provision of this Agreement. In this Agreement, unless the context otherwise
requires: (i) any pronoun used shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns
and verbs shall include the plural and vice versa; (ii) the term “including” (and with correlative meaning “include”)
shall be deemed in each case to be followed by the words “without limitation”; (iii) the words “herein,” “hereto,”
and “hereby” and other words of similar import shall be deemed in each case to refer to this Agreement as a whole and not
to any particular section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”. The parties
have participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of intent
or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden
of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

 

(m)           
Counterparts. This Agreement may be executed in multiple counterparts (including by facsimile or pdf or other electronic
document transmission), each of which shall be deemed an original, and all of which taken together shall constitute one and the same instrument.

 

     

     

    

 

IN WITNESS WHEREOF,
the parties have caused this Sponsor Support Agreement to be executed and delivered as of the date first written above.

 

	 	Innovative International Sponsor I LLC
	 	 
	 	By:	/s/Mohan Ananda
	 	Name: Mohan Ananda
	 	Title: Managing Member

 

     

     

    

 

IN WITNESS WHEREOF,
the parties have caused this Sponsor Support Agreement to be executed and delivered as of the date first written above.

 

	 	Innovative International Acquisition Corp.
	 	 
	 	By:	/s/ Mohan Ananda
	 	Name: Mohan Ananda
	 	Title: Chief Executive Officer

 

     

     

    

 

IN WITNESS WHEREOF,
the parties have caused this Sponsor Support Agreement to be executed and delivered as of the date first written above.

 

	 	Zoomcar, Inc.
	 	 
	 	By:	/s/ Gregory Bradford Moran
	 	Name: Gregory Bradford Moran
	 	Title: President and Chief Executive Officer

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