Common use of No Assignment of Benefits Clause in Contracts

No Assignment of Benefits. Except as set forth in Section 5 or in the event of Grantee’s death, neither the Restricted Newegg Shares, the Newegg Shares nor any other benefits under this Agreement are assignable or transferable by Grantee. In the event of Grantee’s death, the rights of Grantee under this Agreement shall transfer to Grantee’s legal representative or any person empowered under the deceased Grantee’s will or under the then applicable laws of descent and distribution.