Wave Systems Corp. (fka WAVXQ)

[player1234]

Since we don't have access to the full contract, the only thing we have to go on is the announcement filed with the 8k in January 2008. The announcement does not specify the contract continuation terms (if any). Given your two options, you can make an argument for either. I thought there was more available, but I can't find it now.

From the document:


Wave Systems Corp. ("Wave" or "the Licensor" ) signed an amendment to its software license agreement with Dell Products, L.P. ("the OEM") extending the term of the agreement to January 2011. Pursuant to the existing agreement, the OEM is permitted to distribute Wave's EMBASSY Trust Suite (ETS) software on certain of its PCs that include Trusted Platform Module security chips.