Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1228

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 1228
---
 Less: imputed interest 
     (272) 
     -  
     (272)
  
    Present values of lease
    liabilities 
    $121,579  
    $-  
    $121,579 

    Operating lease liabilities current 
     121,579  
     -  
     121,579 
  
    Operating lease liabilities
    noncurrent 
     -  
     -  
     - 

    $121,579  
    $-  
    $121,579 

Warranties

The
Company accrues the estimated cost of product warranties at the time of recognizing revenue. The Company’s standard product warranty
terms generally include post-sales support and repairs or replacement of a product at no additional charge for a specified period of
time. The Company engages in product quality programs and processes, including actively monitoring and evaluating the quality of its
component suppliers. The estimated warranty obligation is based on contractual warranty terms, repair costs, current period product shipments
and product failure rates. Warranty terms are generally limited to twelve months.

Indemnifications

In
the normal course of business, the Company has indemnification obligations to other parties, including customers, lessors, and parties
to other transactions with us, with respect to certain matters. The Company has agreed to indemnify against losses arising from a breach
of representations or covenants or out of intellectual property infringement or other claims made against certain parties. These agreements
may limit the time or circumstances within which an indemnification claim can be made and the amount of the claim.

It
is not possible to determine the maximum potential amount for claims made under the indemnification obligations due to uncertainties
in the litigation process, coordination with and contributions by other parties and the defendants in these types of cases, and the unique
facts and circumstances involved in each particular case and agreement. To date, the Company has made no indemnity payments. In addition,
the Company has entered into indemnification agreements with its officers and directors, and its Amended and Restated Bylaws contain
similar indemnification obligations to its agents.

F-34

Veea
Inc. and Subsidiaries

Notes
to the Consolidated Financial Statements 

For
the Years ended December 31, 2024 and 2023

Litigation

In
the normal course of business, the Company may become involved in various lawsuits and legal proceedings. While the ultimate results
of these matters cannot