Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 222

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 222
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 | $               | 476,841 |   |     | $       | 88,433 |   |     | $     | 565,274 |   |
| Operating lease liabilities, current    |     | $               | 357,417 |   |     | $       | 88,433 |   |     | $     | 445,850 |   |
| Operating lease liabilities, noncurrent |     |                 | 119,424 |   |     |         |      - |   |     |       | 119,424 |   |
|                                         |     | $               | 476,841 |   |     | $       | 88,433 |   |     | $     | 565,274 |   |

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.

Litigation

In November 2020 the Company engaged an independent
contractor basis (“Contractor”) to provide legal services to the Company.