Common use of Exchange and Conversion of Shares Clause in Contracts

Exchange and Conversion of Shares. At the Series E Closing, M▇▇▇▇▇▇ agrees to (a) exchange all of his shares of Series A Preferred Stock for 933,333 shares of Series E Preferred Stock held by C Media or its transferee and (b) convert all such shares of his Series E Preferred Stock into Common Stock.