Restricted Share Conversion Schedule Sample Clauses
The Restricted Share Conversion Schedule clause outlines the specific timeline and conditions under which restricted shares may be converted into unrestricted or freely tradable shares. Typically, this clause details vesting periods, performance milestones, or other requirements that must be met before conversion is permitted, such as a certain length of employment or achievement of company targets. Its core practical function is to regulate the release of restricted shares, ensuring that recipients meet agreed-upon obligations before gaining full ownership, thereby aligning incentives and protecting the interests of the company.
Restricted Share Conversion Schedule. Vested Preferred shares may convert and then shall be exercisable for conversion to Common Stock, all or in part or none, at the option of the Holder only after the closing of the new management contracts, the following schedule: a)45,460 shares – 12 months from date of closing.