Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 339

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 339
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an amount of shares equal to the outstanding principal balance divided by $5.00 per share.

81

On March 16, 2023, Plum issued an unsecured promissory note in the
total principal amount of up to $250,000 (the “Roy Note”) to Mr. Kanishka Roy, individually and as a member of Plum Sponsor.
Mr. Roy funded the initial principal amount of $250,000 on March 16, 2023. The Roy Note did not bear interest and matured upon the consummation
of Plum’s initial business combination with one or more businesses or entities. In the event Plum did not consummate a business
combination, the Roy Note would be repaid upon Plum’s liquidation only from amounts remaining outside of the Trust Account, if any.
The Roy Note was subject to customary events of default, the occurrence of which automatically trigger the unpaid principal balance of
the Roy Note and all other sums payable with regard to the Roy Note becoming immediately due and payable. On September 11, 2024 the Roy
Note was amended to provided that upon consummation of the Business Combination, the outstanding principal balance would convert into
common stock of the Company in an amount of shares equal to the outstanding principal balance divided by $5.00 per share.

Administrative
Support Agreement

Plum entered into certain administrative support agreement, pursuant
to which Plum paid the Plum Sponsor or an affiliate of the Plum Sponsor for office space, secretarial and administrative services provided
to members of the management team. In addition, Plum reimbursed the Plum Sponsor for the reasonable costs of salaries and other services
provided to Plum by the employees, consultants and or members of the Plum Sponsor or its affiliates. For the year ended December 31,
2023, Plum incurred $120,000 in fees for office space, secretarial and administrative services and $215,094 in fees for reimbursement
of costs of salaries. Pursuant to its terms, the Administrative Support Agreement terminated upon Closing.

ITEM
14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

The following table sets forth
the aggregate fees billed by PKF O’Connor Davies, LLP for the fiscal years ending December 31, 2024 and 2023, respectively, as
described below:

    2024  
    2023 
  
    Audit and Related Fees 
    $620,472  
    $404,975 
  
    Tax Fees 
    $21,299