Digimarc Corp — Form 10-Q

Digimarc (via DMRC LLC) amended its January 2013 Counterfeit Deterrence System Development and License Agreement with the Bank for International Settlements, effective as of the amendment date. The amendment redefines intellectual property ownership and licensing of research results, creating new categories (Research Background Technology, Watermarking-Related Research Results, Other Research Results) with differentiated license terms. Key changes include: BIS receives exclusive perpetual license to Other Research Results and non-exclusive license to Research Background Technology; termination notice procedures modified to six-month advance notice; termination costs capped at an amount stated as redacted [**]; multiple schedules updated; and surviving termination clauses expanded. No financial amounts, percentages, or share counts are disclosed—all material terms are redacted.