Common use of Restriction on Transfer; Right of First Refusal Clause in Contracts

Restriction on Transfer; Right of First Refusal. Purchaser shall not sell, transfer, pledge, hypothecate or otherwise dispose of any shares of the Stock which remain subject to the Purchase Option. Before any shares of Stock registered in the name of Purchaser that are no longer subject to the Purchase Option may be sold or transferred (including transfer by operation of law), such shares shall first be offered to the Company.

Restriction on Transfer; Right of First Refusal. Purchaser shall ------------------------------------------------ not sell, transfer, pledge, hypothecate or otherwise dispose of any shares of the Stock which remain subject to the Purchase Option. Before any shares of Stock registered in the name of Purchaser that are no longer subject to the Purchase Option may be sold or transferred (including transfer by operation of law), such shares shall first be offered to the Company.