Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
PELOTON INTERACTIVE, INC. entered into Settlement, Patent License, and Release Agreement with DISH Technologies L.L.C., Sling TV L.L.C., and DISH DBS Corporation (collectively, “Dish”) valued at $75 million (effective 2023-05-01).
- Action
- entry
- Agreement
- settlement
- Counterparty
- DISH Technologies L.L.C., Sling TV L.L.C., and DISH DBS Corporation (collectively, “Dish”)
- Value
- $75 million
- Effective
- 2023-05-01
Exact text from the filing
On May 1, 2023, Peloton and Dish entered into a Settlement, Patent License, and Release Agreement (the "Settlement Agreement") to resolve the ITC matter as well as the Texas Litigation . The Settlement Agreement provides for, among other things: (a) Dish to promptly seek termination of the ITC investigation, rescission of the Remedial Orders, and dismissal with prejudice of the Texas Litigation; (b) broad cross-releases between Peloton and Dish; (c) a worldwide, fully paid up royalty-free license for Peloton and its affiliates for Dish patents relating to ABR, including the patents asserted in the ITC investigation and Texas Litigation; (d) covenants not to sue restricting the parties from initiating certain kinds of future litigation; and (f) a one-time settlement payment by Peloton of $75 million to Dish.
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