Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002716
Chunk: 128

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 128
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 and Chief Executive Officer of Veea, has largely controlled all significant decisions of Veea since its inception. Because of this unique role, Mr. Salmasi previously was not a party to an employment agreement or letter agreement with Veea. The Company’s chief executive officer has received no salary or equity awards since 2014.

On December 31, 2019, Private Veea entered into an offer letter with Mr. Tubinis, pursuant to which Mr. Tubinis began serving as Chief Commercial Officer. The offer letter provides for an indefinite term of employment. Pursuant to the offer letter, Mr. Tubinis was entitled to an initial annual salary of $210,000.

Ms. Smith does not have a written employment agreement with Veea.

Pursuant to their respective agreements, each of the NEOs is eligible to participate in a number of Company-sponsored benefit plans, programs and arrangements.

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Outstanding Equity Awards at Fiscal Year End

The following table provides information about the number of outstanding equity awards held by each of our named executive officers as of December 31, 2023:

| Name                     |     | Equity Incentive 
 Plan Awards:     
 Number of        
 Unearned         
 Units That Have  
 Not Vested       |         |     | Equity Incentive 
 Plan Awards:     
 Market or        
 Payout Value of  
 Unearned         
 Units That Have  
 Not Vested       |        |
| Allen Salmasi            |     |                  |       - |     |                  |      - |
| Chief Executive Officer  |     |                  |         |     |                  |        |
| Janice K. Smith          |     |                  | 115,423 |     |                  | 83,105 |
| Chief Operating Officer  |     |                  |         |     |                  |        |
| Mark Tubinis             |     |                  |  71,186 |     |                  | 51,254 |
| Chief Commercial Officer |     |                  |         |     |                  |        |

Long Term Equity Compensation Plans

Veea maintains the Veea Inc.
2024 Incentive Award Plan (the “2024 Incentive Plan”), which became effective upon the Closing. 4,460,437 shares of Common
Stock have been initially reserved for issuance of awards under the 2024 Incentive Plan (the “Initial Limit”). The Initial
Limit is subject to increase over a ten-year period. The 2024 Incent