Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1161

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 1161
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1,070,603 shares of Common Stock have been reserved for issuance under the ESPP,
which represents 3% of the aggregate number of shares of the Company’s common stock outstanding immediately after the Closing. This
amount is subject to increase each year over a ten-year period. The ESPP provides eligible employees with an opportunity to purchase Common
Stock from the Company at a discount through accumulated payroll deductions. The first purchase period has not begun as of December 31,
2024. Under the terms of the ESPP, the purchase price per share cannot be less than 85% of the lower of the fair market value per share
of our common stock on either the offering date or on the purchase date.

Health
and Welfare Plans

Our
NEOs are eligible to participate in the employee benefit plans that we offer to our employees generally, including medical, dental, vision,
life and accidental death and dismemberment, and short- and long-term disability benefits. 

Retirement
Plan

In 2024 and 2023, as applicable the named executive officers participated
in a 401(k) retirement savings plan maintained by us. The Internal Revenue Code of 1986, as amended (the “Code”) allows eligible
employees to defer a portion of their compensation, within prescribed limits, on a pre-tax basis through contributions to the 401(k) plan.
In 2024 and 2023, contributions made by participants, including the named executive officers, in the 401(k) plan were matched by the Company
up to a specified percentage of the employee contribution. These matching contributions generally vest on the date on which the contribution
is made. Our named executive officers continue to be eligible to participate in the 401(k) plan on the same terms as other full-time employees. We
do not maintain any other retirement or separation benefits for our named executive officers. 

Director
Compensation

The
following table provides information for the compensation of our non-employee directors for the fiscal year ended December 31, 2024:

    Fees earned or  
    Stock  

    paid in cash  
    Awards  
    Total 
  
    Name 
    ($)(1)  
    ($)(2)(3)  
    ($) 
  
    Douglas Maine 
     20,000  
     250,000  
     270,000 
  
    Kanishka Roy 
     20,000  
     250,000