Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 266

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 266
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 the nine months ended June 30, 2024, the Company paid the
CEO $150,000 in reimbursement of these expenses. The Company records the expenses as accrued expenses in the Company’s consolidated
balance sheet.

12 - COMMITMENTS AND
CONTINGENCIES

Purchase Commitments with Contract
Manufacturers and Suppliers

As of June 30, 2024, the Company had
no unconditional purchase obligations for the purchase of goods or services from suppliers and contract manufacturers. Unconditional
purchase obligations are obligations that are enforceable and legally binding on the Company and specify all significant terms, including
quantities to be purchased, fixed, minimum or variable price provisions and the approximate timing of the transaction. Unconditional
purchase obligations exclude agreements that are cancellable without penalty.

Leases

The Company leases office space in
the U.S., including office space from related parties as disclosed in Note 11 - Related Party Transactions. These leases expire
at various dates through 2025. Under the terms of the various lease agreements, the Company may bear certain costs such as maintenance,
insurance and taxes. Lease agreements may provide for increasing rental payments at fixed intervals. The Company’s CEO has guaranteed
the obligations under the office space leased in New Jersey. The Company also leases offices in the United Kingdom and France, under
short-term arrangements of twelve months or less.

| Lease cost:                
 Operating lease costs      |     | Nine Months ended 
 September 30,     
 2024              |         |     | 2023 |         |
|:---------------------------|:----|:------------------|--------:|:----|:-----|--------:|
| Other than related parties |     | $                 | 269,915 |     | $    | 265,664 |
| Related parties            |     |                   | 391,399 |     |      | 361,713 |
| Total                      |     |                   | 661,314 |     |      | 627,377 |
| Short-term lease cost      |     |                   |         |     |      |         |
| Other than related parties |     |                   |  30,817 |     |      | 134,206 |
| Related parties            |     |                   |       - |     |      |       - |
| Total                      |     |                   |  30,817 |     |      | 134,206 |
| Variable lease cost        |     |                   |         |     |      |         |
|