Common use of Lock-Up Provision Clause in Contracts

Lock-Up Provision. In connection with any underwritten public offering by the Company of its equity securities pursuant to an effective Registration Statement filed under the 1933 Act, including the Company's initial public offering, Optionee shall not sell, make any short sale of, loan, hypothecate, pledge, grant any option for the purchase of, or otherwise dispose or transfer for value or otherwise agree to engage in any of the foregoing transactions with respect to, any shares of Stock without the prior written consent of the Company. Such restriction (the "Market Stand-Off") shall be in effect for such period of time from and after the effective date of the final prospectus for the offerings as may be requested by the Company or the underwriters. In no event, however, shall such period exceed one hundred eighty (180) days after the effective date of the Company's Registration Statement with respect to such offering. Optionee shall be subject to the Market Stand-Off provided and only if the officers and directors of the Company holding common stock of the Company are also subject to similar restrictions.