Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 211

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 211
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 or service at the lower of the original purchase
price or the then-current fair market value thereof or (iv) as approved by the board of directors of the Company.

<div align='center'>F-24

Veea Inc. and Subsidiaries
Notes to Consolidated Financial Statements
Years Ended December 31, 2023 and 2022</div>

8 - STOCKHOLDERS’ EQUITY(cont.)

Holders of the Company’s Preferred Stock are
parties to a stockholders’ agreement that contains customary provisions relating to the right of certain stockholders to delegate
members to the board of directors of the Company, restrictions on transfer, rights of first refusal on equity issuance by the Company
and “drag-along rights” granted to the Company.

9 - STOCK-BASED COMPENSATION

The Company maintains equity incentive plans
under which employees, nonemployee directors and consultants of the Company, its affiliates and/or subsidiaries may be offered the opportunity
to acquire shares of the Company’s common stock.

2014 Equity Incentive Plan

On September 1, 2014, the Company’s Board
of Directors adopted the Max Inc. Equity Incentive Plan (“2014 Plan”). Upon adoption of the 2014 Plan, the
aggregate number of shares of Common Stock reserved for awards under the Plan were .

|                                                     |     | Number      
 of Options  
 (in Shares) |         |   |     | Weighted 
 Average  
 Exercise 
 Price    |        |     | Weighted    
 Average     
 Remaining   
 Contractual 
 Terms       
 (in Years)  |      |     | Aggregate 
 Intrinsic 
 Values    |         |
|:----------------------------------------------------|:----|:------------|--------:|:--|:----|:---------|-------:|:----|:------------|-----:|:----|:----------|--------:|
| Balances as of January 1, 2022                      |     |             | 385,531 |   |     | $        | 0.0001 |     |             | 5.68 |     | $         | 335,373 |
| Granted                                             |     |             |       - |   |     |          |      - |     |             |      |     |           |         |
| Exercised                                           |     |             |       - |   |     |          |      - |     |             |      |     |           |         |
| Forfeited or cancelled