XML 25 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENTS

On April 21, 2017, the Company entered into a Confidential Patent License Agreement (the “April 2017 Agreement”) with a European corporation (“EU Licensee”). Pursuant to the April 2017 Agreement, EU Licensee will obtain a license to our patent portfolio and will pay Finjan $4.9 million cash, in license fees, paid as follows, (i) $2.3 million to be paid within 10 days after the effective date of the April 2017 Agreement, of which $2.3 million was received April 26, 2017, (ii) $1.3 million on or before January 31, 2018, and (iii) $1.3 million on or before January 31, 2019. Such license does not grant EU Licensee any right to transfer, sublicense or grant any rights under the April 2017 Agreement to a third party except as specifically provided under the April 2017 Agreement. Such license also has certain provisions relating to certain unlicensed products of any company that acquires EU Licensee, or is acquired by EU Licensee or its affiliates, in which case additional license fees may apply. The specific terms of the April 2017 Agreement are confidential.

On April 21, 2017, Finjan Holdings and Finjan Mobile, a wholly-owned subsidiary of the Company, entered into a Confidential Avira VPN Platform Distribution Agreement (the “Distribution Agreement”) with Avira, Inc., a Delaware corporation (“Avira”). Pursuant to the Distribution Agreement, Avira will provide its Virtual Private Network (“VPN”) platform and technical support (“VPN Platform”) to Finjan Mobile, and Finjan Mobile will offer, distribute and sell the VPN Platform as part of its Vital Security™ suite of product offerings. Avira will also grant Finjan Mobile certain license rights in connection with the Distribution Agreement and Finjan Mobile shall pay Avira $3.9 million in license fees under the Distribution Agreement, payable in 12 quarterly installments of $325,000 over the next 3 years.

On April 21, 2017, Finjan Mobile also entered into a Confidential Patent Cross License Agreement (the “Cross License Agreement”) with Avira.  Pursuant to the Cross License Agreement, the parties will grant patent cross licenses to each other and their affiliates.  The specific terms of the Cross License Agreement are confidential.