Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 211

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 211
---
 service at the lower of the original purchase price or the then-current fair market value thereof
or (iv) as approved by the board of directors of the Company.

<div align='center'>F-24

Veea Inc. and Subsidiaries
Notes to Consolidated Financial Statements
Years Ended December 31, 2023 and 2022</div>

8 - STOCKHOLDERS’ EQUITY (cont.)

Holders of the Company’s
Preferred Stock are parties to a stockholders’ agreement that contains customary provisions relating to the right of certain stockholders
to delegate members to the board of directors of the Company, restrictions on transfer, rights of first refusal on equity issuance by
the Company and “drag-along rights” granted to the Company.

9 - STOCK-BASED COMPENSATION

The Company maintains two
equity incentive plans under which employees, nonemployee directors and consultants of the Company, its affiliates and/or subsidiaries
may be offered the opportunity to acquire shares of the Company’s common stock.

2014 Equity Incentive Plan

On September 1, 2014,
the Company’s Board of Directors adopted the Max Inc. Equity Incentive Plan (“2014 Plan”). Upon adoption
of the 2014 Plan, the aggregate number of shares of Common Stock reserved for awards under the Plan were 1,250,000. The table below summarizes
the activities of the 2014 Plan during the years ended December 31, 2023 and 2022:

|                                                     |     | Number      
 of Options  
 (in Shares) |         |   |     | Weighted 
 Average  
 Exercise 
 Price    |        |     | Weighted    
 Average     
 Remaining   
 Contractual 
 Terms       
 (in Years)  |      |     | Aggregate 
 Intrinsic 
 Values    |         |
|:----------------------------------------------------|:----|:------------|--------:|:--|:----|:---------|-------:|:----|:------------|-----:|:----|:----------|--------:|
| Balances as of January 1, 2022                      |     |             | 385,531 |   |     | $        | 0.0001 |     |             | 5.68 |     | $         | 335,373 |
| Granted                                             |     |             |       - |   |     |          |      - |     |             |      |     |           |         |
| Exercised