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You may upgrade to a higher feature level at any point during the term of the license, that is, before your time limit expires.

In order to switch, you have to pay the Renewal Fee for the one-year or two-year license of the software with the higher feature level. Your license will then be upgraded by AFMG to the new feature level. 

At this point the new license term will begin and the previous term ends before its time limit is reached. If you decide to switch to a higher feature level within the first half of your current licensing term, you will be credited 50% of the fee paid for the previous licensing term.

The licensing conditions for EASE 5 are detailed in the End User License Agreement (EULA).