Common use of Termination or Extension Clause in Contracts

Termination or Extension. (a) This Agreement shall terminate in any event upon the earlier of (i) three (3) years after the date hereof; (ii) the sale of the Company to an outside third party; (iii) a merger with other company or a third party which will own more than 35% of the combined business; (iv) the Beneficiaries own less than 19% of the non-diluted shares of the Company; (v) J.T. Lin is not an Employee, Officer ▇▇ ▇▇▇▇ctor of the Company; (vi) the expiration of the maximum permitted term of voting trusts under the Delaware Business Corporation Law (such period defined as the "Term"); provided, however, that this Agreement will be automatically renewed thereafter on the same terms and conditions for successive Terms with respect to each Beneficiary unless the Beneficiary gives written notice to the Trustee of its desire not to consent to such renewal, which notice shall be delivered to the Trustee not earlier than one (1) year, and not later than sixty (60) days, prior to the end of the Term then in effect. (b) In the event of such extension, the Trustee shall, prior to the expiration as hereinabove provided, as originally fixed, or as theretofore extended, as the case may be, file in the principal executive office of the Company a copy of an agreement extending the expiration date of this Agreement and thereupon the duration of this Agreement shall be extended for the period fixed by such extension agreement; provided, however, that no such extension agreement shall affect the rights or obligations of persons riot parties thereto. (c) Except as otherwise provided in this Agreement, the trust created by this Agreement is hereby expressly declared to be irrevocable.

Termination or Extension. (a) This Agreement shall terminate in any event upon the earlier of (i) three (3) years after the date hereof; (ii) the sale of the Company to an outside third party; (iii) a merger with other company or a third party which will own more than 35% of the combined business; (iv) the Beneficiaries own less than 19% of the non-diluted shares of the Company; (v) J.T. Lin is not an Employee, Officer ▇▇ ▇▇▇▇ctor or Director of the Company; (vi) the expiration t▇▇ ▇▇▇▇▇ation of the maximum permitted term of voting trusts under the Delaware Business Corporation Law (such period defined as the "Term"); provided, however, that this Agreement will be automatically renewed thereafter on the same terms and conditions for successive Terms with respect to each Beneficiary unless the Beneficiary gives written notice to the Trustee of its desire not to consent to such renewal, which notice shall be delivered to the Trustee not earlier than one (1) year, and not later than sixty (60) days, prior to the end of the Term then in effect. (b) In the event of such extension, the Trustee shall, prior to the expiration as hereinabove provided, as originally fixed, or as theretofore extended, as the case may be, file in the principal executive office of the Company a copy of an agreement extending the expiration date of this Agreement and thereupon the duration of this Agreement shall be extended for the period fixed by such extension agreement; provided, however, that no such extension agreement shall affect the rights or obligations of persons riot parties thereto. (c) Except as otherwise provided in this Agreement, the trust created by this Agreement is hereby expressly declared to be irrevocable.