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Technology Stocks : Citrix Systems (CTXS)
CTXS 103.900.0%Nov 2 5:00 PM EST
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To: Joe Casey who wrote (5497)4/20/1998 5:47:00 PM
From: Redman  Read Replies (2) of 9068
 
This is a win-win for Citrix Systems. We can only gain from the milestones, if they are not reached then the original deal will pay out. Also, it looks like Citrix is pushing them to make sure windows terminals is in both nt4.0 and 5.0. This obviously to keep Citrix in the picture for as long as possible.

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In addition, Citrix announced that on April 17, 1998 it had entered into an amendment to its May 1997 agreement with Microsoft(R) Corporation. Under the terms of the amendment, assuming certain milestones are reached by Citrix with respect to Microsoft(R)'s release to manufacturing of the Windows(R) Terminal Server product, Citrix's right to receive royalties on future sales of the Windows(R) Terminal Server product releases 4.0 and 5.0 under the 1997 agreement would be amended to require payment of the full amount in quarterly payments. Further among other matters, Microsoft(R) would commit to make commercially reasonable efforts to include Windows(R) Terminal Server product functionality in its base Windows(R) NT Server product. In the event that the milestones were not achieved, the existing royalties in the 1997 agreement of up to $100.0 million on sales of the Windows(R) Terminal Server product would continue to apply. In the event the milestones are achieved, Citrix intends to recognize the royalty payments ratably over the remaining term of the May 1997 agreement.
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