; extension of period (A) Duration The agreement specifies the maximum period of time during which the individual will be obligated to pay a percentage of the individual’s future income (excluding periods when just a nominal payment (as described under paragraph (5)) is required), which may not (except as provided in subparagraph (B)) exceed 360 months. (B) Extension of period The agreement may provide for the extension of such period by a number of months during which the individual’s percentage of income obligation (excluding nominal payments and fees) was zero, either because of further enrollment in education or training or the individual’s income was below the level at which payments are required in the agreement. (4) Early termination The agreement specifies the terms and conditions under which the individual subject to the agreement may terminate the agreement. (5) Nominal payments The agreement specifies any nominal monthly payment that is required during periods when the individual subject to the agreement has no percentage of income obligation, except that such nominal monthly payment shall not exceed twenty-five dollars per month (adjusted each year to reflect changes in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor for the most recent 12-month period for which the data are available). (b) Required disclosures An income-share agreement does not comply with the requirements of this section unless the individual who is committing under the agreement to pay future income is provided, before entering into such agreement, a written document that clearly and simply discloses— (1) that the agreement is not a debt instrument, and that the amount the individual will be required to pay under the agreement— (A) may be more or less than the amount provided to the individual pursuant to the agreement; and (B) will vary in proportion to the individual’s future income