ClearOne signs perpetual patent cross-license with Sennheiser; receives $4M payment

CLEARONE INC

Perpetual, non-exclusive cross license of certain intellectual property between ClearOne and Sennheiser.
Sennheiser to pay ClearOne a one-time lump sum of $4 million by March 20, 2024.
Each party grants the other a release and covenant not to sue for past infringement under licensed patents.
Agreement effective December 23, 2023; contains standard representations, confidentiality, and termination provisions.
ClearOne to file redacted version with SEC; terms otherwise confidential.

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