Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 312

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 312
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ii) 20% multiplied by the VWAP (calculated
as set forth in the Crowdkeep Convertible Notes) for the prior consecutive thirty (30) trading day period, in each case subject to certain
equitable adjustments. The Crowdkeep Note Purchase Agreements and Crowdkeep Convertible Notes include other customary terms and
conditions.

<div align='center'>II-3</div>

Lock-Up Agreements

In connection with the Crowdkeep
APA (as discussed above) and the Crowdkeep Note Purchase Agreements, the Seller and the Crowdkeep Investor entered into lock-up agreements
pursuant to which the Seller and the Crowdkeep Investor agreed not to effect any sale, distribution or transfer of any of the 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 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.

September 2024 Convertible Note Financing

Simultaneously with the Closing
of the Business Combination, the Company and Private Veea issued convertible notes under note purchase agreements (the “2024 Note Purchase Agreements”) with certain accredited investors unaffiliated with Plum and Private Veea (each, an “2024 Note Offering Investor”) for the sale of unsecured subordinated convertible promissory notes (the “September 2024 Notes”) as part of a private placement offering of up to $15 million in purchase price for such September 2024 Notes
in the aggregate (the “September 2024 Note Offering”). The Company received $1.45 million in proceeds from
the issuance of its convertible promissory note with a commitment from a convertible note purchaser for the remaining unfunded amount
of $13.55, which is to be funded on or prior to November 15, 2024, subsequently extended to