In this paper, we present a new Marshall-Olkin exponential shock model. The new construction method gives the proposed model further ability to allocate the common joint shock on each of the components, making it suitable for application in fields like reliability and credit risk. The given model has a singular part and supports both positive and negative dependence structure. Main dependence properties of the model is given and an analysis of stress-strength is presented. After a performance analysis on the estimator of parameters, a real data is studied. Finally, we give the multivariate version of the proposed model and its main properties.