Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 134

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 134
---
 of which                                        
 is a member of Mr. Salmasi’s immediate family, 437,029 shares held directly by Mr.                                                
 Salmasi, 491,059 shares held by Mr. Salmasi’s spouse and options to purchase 3,036,308                                            
 shares of Common Stock.                                                                                                           |
| (3) | Includes                                                                                                                          
 options to purchase 70,366 shares of Common Stock.                                                                                |
| (4) | Consists                                                                                                                          
 of options to purchase 52,518 shares of Common Stock.                                                                             |
| (5) | Includes                                                                                                                          
 options to purchase 14,714 shares of Common Stock.                                                                                |

| (6) | Includes 20,000 shares of Common Stock issuable upon conversion of a convertible promissory note issued at the Closing of the Business Combination. |

| (7)  | Includes 985,277 shares of Common Stock issuable upon             
 exercise of Private Warrants.                                     |
| (8)  | Includes 1,283,327 shares of Common Stock issuable upon exercise  
 of Private Placement Warrants.                                    |
| (9)  | Includes 973,358 shares of Common Stock issuable upon exercise of 
 Private Placement Warrants.                                       |
| (10) | Includes 1,517,644 shares of Common Stock issuable upon exercise  
 of Private Placement Warrants.                                    |

<div align='center'>72

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</div>

Certain Relationships and Related Person Transactions of Veea

Lease Arrangements

On March 1, 2014, Private Veea entered
into a sublease agreement with NLabs Inc., an affiliate of Private Veea’s CEO (“NLabs”) for office space
for an initial term of five years. In 2018, Private Veea renewed the sublease for an additional five-year term with all other terms and
conditions of the sublease remaining the same. The renewal term expired February 28, 2024 and was subsequently extended to December
31, 2024. Rent for the office space is accrued and not paid in cash. The Company recognized rent expense of $61,200 and $61,200 in the
three months ended September 30, 2024 and 2023, respectively, and $183,600 and $184,925 in the nine months ended September 30, 2024 and
2023, respectively, all of which is classified as general and