Not exactly. The provision in the agreement clearly states there is a limitation on Microsoft’s total liability.
(1) MSFT has paid VRNG $1 million and transferred 6 patents. This will never change. It is done.
(2) MSFT also have agreed to pay VRNG five percent (5%) of any amounts Google pays for use of the patents. But the 5% is capped at a certain undisclosed threshold.
Based on the wording of the 8K (LINK), we can assume it somewhere higher than the jury's award.
<< The parties also agreed to a limitation on Microsoft's total liability, which would not impact the Company{Vringo} unless the amounts received from Google substantially exceed the judgment previously awarded. >>
MSFT will pay 5% of what GOOG pays up until a certain amount when MSFT will have reached it's maximum liability. That maximum number could be $40 million, $100 million, we don't know.
What we do know is the cap is not good for VRNG. What we also know is that the cap won't mysteriously disappear like some pumpers have previously said. The cap exists and VRNG agreed to it.
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