Common use of Settlement and Conversion Clause in Contracts

Settlement and Conversion. As soon as practicable upon the first of the following events (“Settlement Events”) (but in no event later than two and one-half months after the end of the year in which these events occur), the Company shall issue to the Grantee the number of shares of Squiddite Preferred Stock equal to the aggregate number of Restricted Stock Units that have vested pursuant to Paragraph 3 of this Agreement on such date and the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares.

Settlement and Conversion. As soon as practicable upon the first of the following events (“Settlement Events”) (but in no event later than two and one-half months after the end of the year in which these events occur), the Company shall issue to the Grantee the number of shares of Squiddite Preferred Common Stock equal to the aggregate number of Restricted Stock Units that have vested pursuant to Paragraph 3 of this Agreement on such date and the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares.