Common use of Lock-Up Shares Clause in Contracts

Lock-Up Shares. The shares of XXXXXX Common Stock issued to the GSI Inside Shareholders (as defined below) shall be locked up for twelve (12) months after the Closing Date pursuant to the terms of the lock-up agreement which shall be substantially in the form of Exhibit A attached hereto (“Lock-Up Agreement”). Such Lock-Up Agreement shall provide that the GSI Inside Shareholders may sell twenty-five percent (25%) of the shares of XXXXXX Common Stock after six (6) months from the Closing Date and and seventy-five percent (75%) of the shares of XXXXXX Common Stock after twenty four (24) months from the Closing Date. “GSI Inside Shareholders” shall be defined as GSI’s officers, directors, employees, five percent (5%) shareholders and any affiliates of each of those parties.