Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 173

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 173
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 The Crowdkeep Convertible Notes have
an aggregate principal amount of $1,000,000, and the interest under the Crowdkeep Convertible Notes accrues at an annual rate of 8%.
The maturity date of the Crowdkeep Convertible Notes are April 17, 2026, and May 13, 2026, respectively.

Pursuant to the terms of
the Convertible Notes, upon an event of default, the outstanding principal amount of the applicable Crowdkeep Convertible Note, plus
accrued but unpaid interest, will become immediately due and payable in full. Events of default include failure to pay any principal
or interest amounts under the Crowdkeep Convertible Notes, failure to perform covenants in the Crowdkeep Convertible Notes and certain
bankruptcy and insolvency conditions of the Company. The Company may prepay all or any portion of the Crowdkeep Convertible Notes at
any time. The Crowdkeep Convertible Notes are convertible, in whole or in part, into shares of common stock at the option of the Crowdkeep
Investor, at a price per share of $5.00 subject to certain equitable adjustments. The Crowdkeep Convertible Notes will automatically
convert on the date that the closing price of the common stock is at $7.50 or above for ten (10) consecutive trading days within
any consecutive thirty (30) trading day period, equal to the lesser of (i) $7.50 per share and (ii) 20% multiplied by the VWAP (calculated
as set forth in the Crowdkeep Convertible Notes) for the prior consecutive thirty (30) trading day period, in each case subject to certain
equitable adjustments. The Crowdkeep Note Purchase Agreements and Crowdkeep Convertible Notes include other customary terms and
conditions.

Lock-Up Agreements

In connection with the Crowdkeep
APA (as discussed above) and the Crowdkeep Note Purchase Agreements, the Seller and the Crowdkeep Investor entered into lock-up agreements
pursuant to which the Seller and the Crowdkeep Investor agreed not to effect any sale, distribution or transfer of any of the shares
of common stock received in the transaction or any Crowdkeep Conversion Shares will be subject to transfer restrictions and restrictions
against selling short or hedging the Company’s securities for a period of six (6) months following the applicable closing of the
APA or the Crowdkeep Note Purchase Agreement, respectively, subject to certain limited exceptions.

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