Item 8.01 Other Events

On June 28, 2022, Zebra Technologies Corporation (the "Company") and Honeywell International, Inc. ("Honeywell") entered into a license and settlement agreement (the "Agreement") to resolve all patent-related litigation between the Company and Honeywell. Under the Agreement, the Company and Honeywell each deny liability and agreed to a mutual general release from all past claims; entered into a covenant not to sue for patent infringement; agreed to a payment by the Company to Honeywell for past damages of $360 million which will be charged in the Company's second quarter results and will be paid in equal quarterly installments over eight quarters; and entered into a royalty-free cross-license with respect to each party's existing patent portfolio for the lives of the licensed patents. The Agreement also provides for the Company and Honeywell to dismiss all pending IP litigation in U.S. district courts, the U.S. International Trade Commission, and various courts outside the U.S. between the parties.

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