The licence covers 1 year of support and updates. We do provide a discount for renewals (check the FAQ at the bottom of this page: https://eventespresso.com/pricing/ )
If you decide not to continue with your licence, you can still continue using the plugin, though you will receive no further updates (feature additions, bug fixes, security updates) nor support until a new licence is purchased.
Please let us know if you have any further questions.
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