[all variants] What exactly is "support" and "End of life date" ?

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http://ubuntuforums.org – Hello, Releases wiki article talks about "support" and "End of life date". I would like to clarify what exactly is meant by those terms. It looks like those terms mean the same, or "End of life" equals "End of support". Is it so? I assumed that "support" term means the period of time during which Ubuntu developers keep releasing minor patches for security and compatibility of software packages constituting particular Ubuntu release. As long as I don't need new features and ready to take risks living without new security and compatibility patc (Hardware)