4DS - Anything but Charting, page-31340

If 4DS terminate the agreement, I believe that will mean there is something significant in the wind - that would be a strong signal of confidence that a liquidity event is not far off. Remember 4DS can walk away form the JDA on short notice. If WD don't exercise the option for a license inside the notice period they lose it for good and whoever acquires the company would have total exclusivity. (Please feel free to correct me if someone has a different understanding)

Likewise, if WD exercise their right to a license before 4DS can get the drop on them, that will be a positive signal.

I get the vibe that 4DS is retaining the JDA out of convenience, as to terminate the agreement without something in the works would lean heavily on the shareprice. I'm not sure WD is bringing anything more to the table than what IMEC is already doing. But it's always good to keep your options open.