Common use of IPO Allocation Clause in Contracts

IPO Allocation. In the event of a bona fide, firm -------------- commitment underwritten initial public offering of the capital stock of the Company (the "IPO"), the Company shall, or shall require that the managing underwriters of the IPO, establish a directed share program (the "Program") in connection with the IPO. The Program shall consist of at least that number of shares of capital stock (the "Program Shares") equal to nine percent (9%) of the shares offered in the IPO (exclusive of shares subject to any overallotment option on behalf of the underwriters). The Company shall cause the managing underwriters to give priority to the Investors with respect to the Program Shares in allocating the shares available for purchase in the Program. The Investors shall have the option, but not the obligation, to purchase all or any portion of the Program Shares at the initial price to public set forth on the cover page of the final prospectus distributed in connection with the IPO.