Company: VEEAW
Filing Date: 2025-08-06
Form Type: S-1/A
Source: 0001213900-25-072342
Chunk: 117

Company: VEEA INC.
Filing Date: 2025-08-06
Form: S-1/A
Chunk 117
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 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. The form of lock-up agreement signed by the Seller is herein referred to as the “ Crowdkeep Lock-Up Agreement” and the form of lock-up agreement signed by the Crowdkeep Investor is herein referred to as the “ Crowdkeep Noteholder Lock-Up Agreement.” The Crowdkeep Lock-Up Agreement and the Crowdkeep Noteholder Lock-Up Agreement have substantially similar terms, but the Crowdkeep Lock-Up Agreement provides for distributions by the Seller to the Seller’s stockholders, pro rata based on their ownership of Seller, subject to certain conditions. 69 Appointment of Acting Chief Financial Officer On July 15, 2025, Randal V. Stephenson was appointed as the Company’s Acting Chief Financial Officer. Mr. Stephenson joined the Company on May 1, 2025 and was initially appointed the Company’s Senior Vice President, Finance and Chief Strategy Officer of the Company. Pursuant to the offer letter, Mr. Stephenson is entitled to an annual base salary of $84,000 (“ Base Salary”) and was eligible for increase dependent upon certain Company performance metrics based on the Company’s cash position as of July 1, 2025 in an amount up to $425,000 per annum. If no increase was made as of July 1, 2025, Mr. Stephenson’s starting base salary is subject to adjustment following review and agreement but not below his starting annual base salary. Mr. Stephenson is also eligible to receive an annual performance bonus, at the discretion of the CEO and the Compensation Committee of the Board, in an amount up to 100% (one hundred percent) of his annual base salary (pro-rated for calendar year 2025). In addition, Mr. Stephenson received non-qualified stock options to purchase 88,000 shares of common stock, with 19,000 shares vesting on each of May, 31 2025 and June 30, 2025, 12,500 shares vesting on May 1, 2026 and the remaining stock options vesting in equal amounts quarterly until the award is fully vested. Mr. Stephenson may also be awarded additional non-qualified options dependent upon certain performance metrics based on the Company’s cash position as of