Transfer service of UM175VW USB modem to a friend?

I have about 14 months of a 24-month contract remaining on my USB modem at $60/month, but I've moved and don't need it any more for an internet connection.  To avoid paying the early termination fees, I asked my friends if they needed a USB aircard modem.  I have a friend that could use it and is willing to pay the $60/month.  Can he open a VZW account and transfer my remaining contract to his new line?  If so, what steps do we need to take with Verizon and are there any transfer fees? What's the technical terminology we should use with the Verizon rep?