Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 270

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 270
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         |   |     | Related 
 Parties |   |     | Total |         |   |
|:---------------------------------------|:----|:-----------|--------:|:--|:----|:--------|:--|:----|:------|--------:|:--|
| Remainder of 2024                      |     | $          | 120,434 |   |     | $       | - |     | $     | 120,434 |   |
| 2025                                   |     |            | 121,851 |   |     |         | - |     |       | 121,851 |   |
| 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