David A. Fidanza - 20 Oct 2023 Form 4 Insider Report for iCoreConnect Inc. (ICCT)

Footnote F1

The stock option vests and becomes fully exercisable on December 16, 2024.

Footnote F2

The stock option vests and becomes exercisable annually, in equal installments, over a 3 year period.

Footnote F3

The stock option is fully vested and exercisable.

Footnote F4

Each share of Series A Preferred Stock is convertible, at the option of the holder thereof, at any time, and without the payment of additional consideration by the holder thereof, into shares of Common Stock.

Footnote F5

Each share of Series A Preferred Stock is convertible into shares of Common Stock as is determined by dividing the Original Issue Price of $10.00 by the Conversion Price in effect at the time of conversion. The amount set forth in the table is based on an assumed Conversion Price of $10.00 per share, which is the current Conversion Price. The Conversion Price will be reset to the lesser of $10.00 or 20% above the simple average of the volume weighted average price on the 20 trading days following 12 months after August 25, 2023; provided further that such Conversion Price shall be no greater than $10.00 and no less than $2.00 (such amounts subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization).