; and (ii) the remaining number of years under the agreement that future income is required to be paid at such percentage. (C) Maximum commitment factor As used in this paragraph, the term maximum commitment factor means, with respect to an income share agreement, 2.25 (which figure is the product of 7.5 percent and the number of years in the longest allowable contract under paragraph (6)). (6) Extension of period The income share agreement may provide that the period covered by the income share agreement may be extended by a number of years that is equal to the number of years during which the agreement is in force for which the annual income of the individual is below the dollar amount specified in paragraph (1). (7) Early termination The income share agreement shall specify the terms and conditions by which the individual subject to the agreement may extinguish the obligations of the individual under the agreement before the end of the payment period specified in the agreement and any application extension provided for in the agreement pursuant to paragraph (6). (b) Required disclosures An income share agreement does not comply with the requirements of this section unless the individual who is committing to pay future income is provided, before entry into the agreement, a disclosure document that clearly and simply discloses— (1) that— (A) the agreement is not a debt instrument, and that the amount the individual will be required to pay under the agreement— (i) may be more or less than the amount provided to the individual; and (ii) will vary in proportion to the future income of the individual; (B) that the obligations of the individual under the agreement are not dischargeable under bankruptcy law, except in a case that would impose an undue hardship on the debtor and the dependents of the debtor; (C) whether the obligations of the individual under the agreement may be extinguished by accelerating payments, and, if so, under what terms