Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002716
Chunk: 139

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 139
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 (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.                                                         |

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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 administrative expenses in the Company’s consolidated
statements of operations and comprehensive loss. Accrued and unpaid rent expense included in the Company’s consolidated balance
sheet was $1,652,400 and $1,468,800, as of September 30, 2024 and December 31, 2023, respectively.

In April 2017, Private Veea
entered into a lease agreement with 83 Street LLC to lease office space for an initial term of two years. In 2018, Private
Veea renewed the lease for an additional five-year term, with all other terms and conditions of the lease 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 sole member of 83 Street is the Salmasi 2004 Trust. The Salmasi 2004 Trust holds approximately