Common use of Lock-Up Provision Clause in Contracts

Lock-Up Provision. In connection with any public registration of the Company's securities, the Optionee (and any transferee of Optionee) agrees, upon the request of the Company or the underwriter(s) managing such underwritten offering of the Company's securities, not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of this Option, any of the shares of Common Stock issuable upon exercise of this Option or any other securities of the Company heretofore or hereafter acquired by Optionee (other than unrestricted securities acquired in the open market and those included in the registration) without the prior written consent of the Company and such underwriter(s), as the case may be, for a period of time not to exceed one hundred eighty (180) days from the effective date of the registration (the "Lock-Up Period"). Upon request by the Company, Optionee (and any transferee of Optionee) agrees to enter into any further reasonable agreement in writing in a form reasonably satisfactory to the Company and such underwriter(s)in furtherance of such lock-up. The Company may impose stop-transfer instructions with respect to the securities subject to the foregoing restrictions until the end of said 180-day period. Any shares issued upon exercise of this Option shall bear an appropriate legend referencing this lock-up provision (the "Lock-Up Legend").