Common use of Maturity Date Conversion Clause in Contracts

Maturity Date Conversion. In the event that aPledge Digital Security Tokens remain outstanding on the Maturity Date, then the Outstanding Token Balance of aPledge Digital Security Tokens shall automatically without any further action by the Holder convert as of the Maturity Date into Class B class of shares of the Company’s Common Stock at a conversion price equal to the quotient resulting from dividing $20,000,000 by the number of outstanding shares of Common Stock of the Company as of the Maturity Date (assuming conversion of all securities convertible into Common Stock and exercise of all outstanding options and warrants, including all shares of Common Stock reserved and available for future grant under any equity incentive or similar plan of the Company, but excluding the shares of equity securities of the Company issuable upon the conversion under this Agreement or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)).