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Perpetuity & Free Updates

Each license is perpetual (does not expire).
You will also receive free updates within a major release.

Node Locked

All FlexRAID products are license activated on a node lock basis. That is, each system you run a product on requires its own license.

Platform specific

License activations are also platform specific. You can switch between different OSes on the same platform. However, switching between Windows and Linux is restricted.

So, on Windows, you can switch between the different OSes (Vista, Win 7, Win 8, W2k8, W2k12, etc.) just fine.
Same thing on Linux – you can switch between the various distributions if supported (Ubuntu, Red Hat, Suse, etc.).

License Activation Transfer

License activation transfer from an originally activated system to a new system is allowed only as specified in this wiki post: http://wiki.flexraid.com/2012/05/04/licensing-hardware-changes-and-license-transfer/

Furthermore:

Upgrading one or two components will usually not affect the activation and you won’t even need a license transfer.
However, users tend to upgrade the Mobo + CPU + RAM at once and effectively the whole computer. Once enough components are replaced, you will need to initiate a transfer, which is free and is just a way to update the information with the activation server.

If you go buy or build a completely new system with a new set of disks, you will need a separate license for it.

End User License Agreement (EULA)

Refer to the EULA during the product installation.