Common use of Exchange of Class A Common Stock Clause in Contracts

Exchange of Class A Common Stock. (a) Subject to the terms and conditions of this Agreement, immediately following the Effective Time, Founder shall be deemed to have automatically transferred to the Company the shares of Class A Common Stock held by Founder (the “Class A Shares”) and the Company shall issue to Founder shares of Class C Common Stock (the “Class C Shares”), at an exchange ratio of one (1) Class A Share for one (1) Class C Share (the “Exchange”). (b) Concurrently herewith, Founder is delivering to the Company such instruments of transfer or other documentation as may be reasonably required to evidence that the shares of Class A Common Stock have been duly transferred to the Company to be held in escrow until the Effective Time and such documents are automatically released without further action by the Company or Founder at the Effective Time.

Exchange of Class A Common Stock. (a) Subject to the terms and conditions of this Agreement, immediately following the Effective Time, Founder shall be deemed to have automatically transferred to the Company the shares of Class A Common Stock held by Founder set forth on Exhibit A hereto (the “Class A Shares”) and the Company shall issue to Founder shares of Class C Common Stock (the “Class C Shares”), at an exchange ratio of one (1) Class A Share for one (1) Class C Share (the “Exchange”). (b) Concurrently herewith, Founder is delivering to the Company such instruments of transfer or other documentation as may be reasonably required to evidence that the shares of Class A Common Stock have been duly transferred to the Company to be held in escrow until the Effective Time and such documents are automatically released without further action by the Company or Founder at the Effective Time.