SEC Contract Filing

Filing Date: 2023-12-19

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2333239d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: right; margin: 0pt"><B>Exhibit 10.1</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUBSCRIPTION AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This SUBSCRIPTION
AGREEMENT (this &#8220;<U>Subscription Agreement</U>&#8221;) is entered into on December 19, 2023, by and among Innovative
International Acquisition Corp., a Cayman Islands exempted company (the &#8220;<U>Issuer</U>&#8221;) and the undersigned
(&#8220;<U>Subscriber</U>&#8221;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">WHEREAS,
the Issuer has entered into that certain Agreement and Plan of Merger and Reorganization, dated as of October 13, 2022 (as may be amended
or supplemented from time to time, the &#8220;<U>Merger Agreement</U>&#8221;), by and among the Issuer, Innovative International Merger
Sub Inc., a Delaware corporation and a wholly-owned subsidiary of the Issuer (&#8220;<U>Merger Sub</U>&#8221;), Greg Moran, acting as
representative of the Target (as defined below), and ZoomCar, Inc., a Delaware corporation (together with its direct and indirect subsidiaries,
&#8220;<U>Target</U>&#8221;), pursuant to which, among other things, (i) the Issuer will domesticate as a Delaware corporation in accordance
with </FONT>the applicable provisions <FONT STYLE="font-size: 10pt">of the Delaware General Corporation Law and the Cayman Islands Companies
Act (as revised) (the &#8220;<U>Domestication</U>&#8221;) and (ii) immediately following the consummation of the Domestication, Merger
Sub will merge with and into Target (the &#8220;<U>Merger</U>&#8221; and, together with the Domestication, the &#8220;<U>Transactions</U>&#8221;,
and the consummation of the Merger in accordance with the Merger Agreement, the &#8220;<U>Merger Closing</U>&#8221;), with the Target
surviving the Merger;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, in connection with
the Transactions, the Issuer is seeking commitments from the Subscriber to purchase, prior to the Merger Closing, the Issuer&#8217;s Class
A ordinary shares, par value $0.0001 per share (the &#8220;<U>Common Shares</U>&#8221;); and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, in connection with
and contingent upon the closing of the Transactions, on the terms and subject to the conditions set forth in this Subscription Agreement,
Subscriber desires to subscribe for and purchase from the Issuer the number of Common Shares, set forth on the signature page hereto (the
&#8220;<U>Acquired Shares</U>&#8221;) for a purchase price of $3.00 per share (the &#8220;<U>Share Purchase Price,</U>&#8221; and the
aggregate purchase price set forth on the signature page hereto for the Acquired Shares, the &#8220;<U>Purchase Price</U>&#8221;), and
the Issuer desires to issue and sell to Subscriber the Acquired Shares in consideration of the payment of the Purchase Price by or on
behalf of Subscriber to the Issuer at or prior to the Closing Date (as defined herein).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, herein contained, and intending
to be legally bound hereby, the parties hereto hereby agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="color: #010000">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Subscription</U>. Subject to the terms and conditions hereof, Subscriber hereby irrevocably subscribes for and agrees
to purchase from the Issuer, and the Issuer hereby agrees that the Issuer shall issue and sell to Subscriber, upon the payment of the
Purchase Price, the Acquired Shares (such subscription and issuance, the &#8220;<U>Subscription</U>&#8221;).</P>

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