TLLEQ Teletouch Communications Inc (CE)

          On January 28, 2013, Progressive Concepts, Inc., a Texas corporation and a wholly-owned subsidiary of Teletouch Communications, Inc. (together with affiliates, the “Company”), entered into that certain Settlement and Patent License Agreement with GeoTag, Inc. (“GeoTag”) (the “License Agreement”). As previously disclosed in the Company’s public reports, in November 2011, GeoTag filed a patent infringement action which named the Company and numerous other entities, alleging that features of certain of the defendants’ e-commerce websites infringe U.S. Patent No. 5,930,474, entitled “Internet Organizer for Accessing Geographically and Topically Based Information” (the “474 Action”). Under the terms of the License Agreement, in consideration for a one-time settlement payment made by the Company to GeoTag, the Company was granted a worldwide, royalty-free, non-exclusive, non-transferable, perpetual, irrevocable license to exploit such licensed patents. In addition, the License contains certain confidentiality provisions, mutual covenants not to sue and releases relating to the patent infringement litigation. GeoTag also agreed to dismiss the 474 Action and such dismissal has occurred and been recorded as of this filing date. The License Agreement contains additional provisions that are customary for the agreements of this nature.

           None.