Common use of Assignment of Options Clause in Contracts

Assignment of Options. The Options may not be transferred, assigned or otherwise disposed of by the Employee unless and until they have become vested and are then immediately exercisable into Option Shares; provided, that the Employee shall have the right to assign all or any portion of his Options to any member of his family; provided, further, that any such permitted assignee shall execute a joinder or similar agreement with IDF and TechStar agreeing to be bound by all of the terms and conditions of this Section 3(d).

Assignment of Options. The Options may not be transferred, assigned or otherwise disposed of by the Employee unless and until they have become vested and are then immediately exercisable into Option Shares; provided, that the Employee shall have the right to assign all or any portion of his Options to any member of his family; provided, further, that any such permitted assignee shall execute a joinder or similar agreement with IDF AUGI and TechStar the Company agreeing to be bound by all of the terms and conditions of this Section 3(d).