Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 268

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 268
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 services from suppliers and contract manufacturers. Unconditional purchase
obligations are obligations that are enforceable and legally binding on the Company and specify all significant terms, including quantities
to be purchased, fixed, minimum or variable price provisions and the approximate timing of the transaction. Unconditional purchase obligations
exclude agreements that are cancellable without penalty.

Leases

The Company leases office space in
the U.S., including office space from related parties as disclosed in Note 11 - Related Party Transactions. These leases expire
at various dates through . Under the terms of the various lease agreements, the Company may bear certain costs such as maintenance,
insurance and taxes. Lease agreements may provide for increasing rental payments at fixed intervals. The Company’s CEO has guaranteed
the obligations under the office space leased in New Jersey.

| Lease cost:                
 Operating lease costs      |     | Nine Months ended 
 September 30,     
 2024              |         |     | 2023 |         |
|:---------------------------|:----|:------------------|--------:|:----|:-----|--------:|
| Other than related parties |     | $                 | 269,915 |     | $    | 265,664 |
| Related parties            |     |                   | 391,399 |     |      | 361,713 |
| Total                      |     |                   | 661,314 |     |      | 627,377 |
| Short-term lease cost      |     |                   |         |     |      |         |
| Other than related parties |     |                   |  30,817 |     |      | 134,206 |
| Related parties            |     |                   |       - |     |      |       - |
| Total                      |     |                   |  30,817 |     |      | 134,206 |
| Variable lease cost        |     |                   |         |     |      |         |
| Other than related parties |     |                   |   9,893 |     |      |  28,325 |
| Related parties            |     |                   |       - |     |      |       - |
| Total                      |     |                   |   9,893 |     |      |  28,325 |
| Total lease cost           |     | $                 | 702,024 |     | $    | 789,908 |

<div align='center'>F-61

Veea Inc. and Subsidiaries

Notes to