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Re: biocqr post# 124

Tuesday, 06/11/2013 1:17:15 PM

Tuesday, June 11, 2013 1:17:15 PM

Post# of 258
"Term . The initial term of this Agreement shall be for four (4) years, beginning on the Effective Date. Upon expiration of the initial term or any renewal term, this Agreement shall automatically renew for an additional one (1) year period unless either party shall have given the other party written notice of non-renewal at least sixty (60) days prior to expiration of the then-current initial or renewal term. As used herein, “Term” means the initial four year term of this Agreement and, upon renewal hereof in accordance with the foregoing, any such renewal term(s). This Agreement may not be terminated prior to expiration of the then-current Term, except in accordance with the express terms of this Agreement."

From the 10Q. There seems no clause to break the Agreement for first four years. There seems at least three more years before the notice of exiting from the contract.