Common use of Term of Voting Trust Clause in Contracts

Term of Voting Trust. For a period of ten (10) years following the date of this Agreement, all of the Shares owned by the Shareholder as of the date of this Agreement, together with such other Shares that the Shareholder may purchase or receive from any source whatsoever during the term of this Agreement, including but not limited to any Shares received as a consequence of any event described in Paragraph 3 below, shall be subject to the provisions of this Agreement (the "Voting Trust"). During said ten (10) year period, the Voting Trust shall be irrevocable, except as otherwise provided by this Agreement or by the failure to cure a default of the promissory note appended hereto as Exhibit A (the "Note") and executed in connection with a Stock Purchase Agreement dated of even date herewith and appended hereto as Exhibit B. Within two (2) years of the expiration of this Agreement, the parties may mutually agree to extend the term of the Agreement for an additional ten (10) year period.