Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002716
Chunk: 129

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 129
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ive Plan provides for the grant of stock options, which may be ISOs
or non-statutory stock options (“NSOs”), stock appreciation rights (“SARs”), restricted shares, restricted stock
units and other stock or cash-based awards that the administrator determines are consistent with the purpose of the 2024 Incentive Plan.
As of September 30, 2024, the Company has 3,568,676 shares available for issuance under the 2024 Incentive Plan.

Veea also maintains the 2024
Employee Stock Purchase Plan (the “ESPP”), which become effective upon the Closing. An aggregate of 1,070,603 shares of Common
Stock have been reserved for issuance under the ESPP, which represents 3% of the aggregate number of shares of the Company’s common
stock outstanding immediately after the Closing. This amount is subject to increase each year over a ten-year period. The ESPP provides
eligible employees with an opportunity to purchase Common Stock from the Company at a discount through accumulated payroll deductions.
The first purchase period has not begun as of September 30, 2024. Under the terms of the ESPP, the purchase price per share cannot be
less than 85% of the lower of the fair market value per share of the Common Stock on either the offering date or on the purchase date.

Health and Welfare Plans

Our NEOs are eligible to participate in the employee benefit plans that we offer to our employees generally, including medical, dental, vision, life and accidental death and dismemberment, and short- and long-term disability benefits.

Director Compensation

For the fiscal year ended December
31, 2023, Veea did not pay any compensation or make any equity awards to any directors.

The Board reviews director compensation periodically to ensure that director compensation remains competitive such that Veea is able to recruit and retain qualified directors. Veea intends to adopt a director compensation program that is designed to align compensation with its business objectives and the creation of shareholder value, while enabling Veea to attract, retain, incentivize, and reward directors who contribute to the long-term success of the Combined Company.

Executive Compensation After the Business Combination

Veea does not have written employment agreements with its NEOs.

Veea intends to develop an executive compensation program that is designed to align compensation with Veea’s business objectives and the creation of stockholder value, while enabling Veea to attract, retain, incentivize and reward individuals who contribute to the long-term success of Veea’s decisions