For example, shareholders of an acquired company may receive a CVR that enables them to receive additional shares of the target company in the event that target company's share price falls below a certain level by a specified date.
Another example of a CVR would be for a target company to set aside a large sum of money that would be transferred to the shareholders of the acquired company in the event that the price of the target company's shares do not meet a certain target or fall below a specified price.