Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1311

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 1311
---
 on March 16, 2023. The Roy Note did not bear interest and matured upon the consummation
of Plum’s initial business combination with one or more businesses or entities. In the event Plum did not consummate a business
combination, the Roy Note would be repaid upon Plum’s liquidation only from amounts remaining outside of the Trust Account, if any.
The Roy Note was subject to customary events of default, the occurrence of which automatically trigger the unpaid principal balance of
the Roy Note and all other sums payable with regard to the Roy Note becoming immediately due and payable. On September 11, 2024 the Roy
Note was amended to provided that upon consummation of the Business Combination, the outstanding principal balance would convert into
common stock of the Company in an amount of shares equal to the outstanding principal balance divided by $5.00 per share.

Administrative
Support Agreement

Plum entered into certain administrative support agreement, pursuant
to which Plum paid the Plum Sponsor or an affiliate of the Plum Sponsor for office space, secretarial and administrative services provided
to members of the management team. In addition, Plum reimbursed the Plum Sponsor for the reasonable costs of salaries and other services
provided to Plum by the employees, consultants and or members of the Plum Sponsor or its affiliates. For the year ended December 31,
2023, Plum incurred $120,000 in fees for office space, secretarial and administrative services and $215,094 in fees for reimbursement
of costs of salaries. Pursuant to its terms, the Administrative Support Agreement terminated upon Closing.

ITEM
14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

The following table sets forth
the aggregate fees billed by PKF O’Connor Davies, LLP for the fiscal years ending December 31, 2024 and 2023, respectively, as
described below:

    2024  
    2023 
  
    Audit and Related Fees 
    $620,472  
    $404,975 
  
    Tax Fees 
    $21,299  
    $34,000 
  
    Total 
    $641,771  
    $438,975 

Pre-Approval
Policies and Procedures

The
Audit Committee mandate requires that the Audit Committee pre-approve any retainer of the auditor of the Company to perform any non-audit
services to the Company that it deems advisable in accordance with applicable legal and regulatory requirements and policies and procedures
of the Board