Complex sentence: When inducting members into The Straight Edge Society, Punk shaved their hair while retaining long hair himself; as a result, Mysterio challenged him to a match at Extreme Rules with a stipulation that if Punk lost, he would have his head shaved.
Split into simpler sentences: When inducting members into The Straight Edge Society, Punk shaved their hair, while retaining long hair himself. As a result, Mysterio challenged him over it, and it was announced that the stipulation for their match at Extreme Rules was that if Punk lost, he would have his head shaved.