Common use of Offering Reduction Clause in Contracts

Offering Reduction. If a registration in which the Executive has the right to participate pursuant to this Section 17 is an underwritten offering, and if the managing underwriters determine in their reasonable discretion that the number of securities requested to be included in such registration exceeds the number than can be sold in such offering, then the Company shall include in such registration only the number of shares of Common Stock requested to be sold by the Company as the managing underwriters shall determine; and the Executive and all other persons who have exercised registration rights with respect to the proposed offering shall participate in the offering in proportion to the number of shares of Common Stock so requested by each of them to be so included.

Offering Reduction. If a registration in which the Executive has ------------------ the right to participate pursuant to this Section 17 18 is an underwritten offering, and if the managing underwriters determine determine, in their reasonable discretion that the number of securities requested to be included in such registration only exceeds the number than that can be sold in such offering, then the Company shall include in such registration only the number of shares of Common Stock requested to be sold by the Company as the managing underwriters shall determine; and the Executive and all other persons who have exercised registration rights with respect to the proposed offering shall participate in the offering in proportion to the number of shares of Common Stock so requested by each of them to be so included.

Offering Reduction. If a registration in which the Executive has ------------------ the right to participate pursuant to this Section 17 is an underwritten offering, and if the managing underwriters determine in their reasonable discretion that the number of securities requested to be included in such registration exceeds the number than that can be sold in such offering, then the Company shall include in such registration only the number of shares of Common Stock requested to be sold by the Company as the managing underwriters shall determine; and the Executive and all other persons who have exercised registration rights with respect to the proposed offering shall participate in the offering in proportion to the number of shares of Common Stock so requested by each of them to be so included.

Offering Reduction. If a registration in which the Executive has ------------------ the right to participate pursuant to this Section 17 is an underwritten offering, and if the managing underwriters underwriters, determine in their reasonable discretion discretion, that the number of securities requested to be included in such registration only exceeds the number than that can be sold in such offering, then the Company shall include in such registration only the number of shares of Common Stock requested to be sold by the Company as the managing underwriters shall determine; and the Executive and all other persons who have exercised registration rights with respect to the proposed offering shall participate in the offering in proportion to the number of shares of Common Stock so requested by each of them to be so included.

Offering Reduction. If a registration in which the Executive has ------------------ the right to participate pursuant to this Section 17 is an underwritten offering, and if the managing underwriters determine in their reasonable discretion discretion, that the number of securities requested to be included in such registration exceeds the number than that can be sold in such offering, then the Company shall include in such registration only the number of shares of Common Stock requested to be sold by the Company as the managing underwriters shall determine; and the Executive and all other persons who have exercised registration rights with respect to the proposed offering shall participate in the offering in proportion to the number of shares of Common Stock so requested by each of them to be so included.