Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002716
Chunk: 274

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 274
---
 |
| Total lease payments                   |     |            | 242,285 |   |     |         | - |     |       | 242,285 |   |
| Less: imputed interest                 |     |            | (30,940 | ) |     |         | - |     |       | (30,940 | ) |
| Present values of lease liabilities    |     | $          | 211,345 |   |     | $       | - |     | $     | 211,345 |   |
| Operating lease liabilities current    |     |            | 211,345 |   |     |         | - |     |       | 211,345 |   |
| Operating lease liabilities noncurrent |     |            |       - |   |     |         | - |     |       |       - |   |
|                                        |     | $          | 211,345 |   |     | $       | - |     | $     | 211,345 |   |

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,