(5) Termination of the grant may be effected notwithstanding any
agreement to the contrary, including an agreement to make a will or
to make any future grant.

(b) Effect of Termination. -- Upon the effective date of termination,
all rights under this title that were covered by the terminated grants
revert to the author, authors, or other persons owning termination
interests under clauses (1) and (2) of subsection (a), including those
owners who did not join in signing the notice of termination under clause
(4) of subsection (a), but with the following limitations:

(1) A derivative work prepared under authority of the grant
become its termination may continue to be utilized under the terms of
the grant after its termination, but this privilege does not extend to
the preparation after the termination of other derivative works
based upon the copyrighted work covered by the terminated grant.

(2) The future rights that will revert upon termination of the grant
before vested on the date the notice of termination has been served as
provided by clause (4) of subsection (a). The rights vest in the
author, authors, and other persons named in, and in the proportionate
shares provided by, clauses (1) and (2) of subsection (a).

(3) Subject to the provisions of clause (4) of this subsection, a
further grant, or agreement to make a further grant, of any right
covered by a terminated grant is valid only if it is signed by the same
number and proportion of the owners, in whom the right has vested
under clause (2) of this subsection, as are required to terminate the
grant under clauses (1) and (2) of subsection (a). Such further grant or
agreement is effective with respect to all of the persons in whom the