Puzzled by new vBulletin upgrade method
 

Greetings.

I would like some clarification on the method of renewing an owned license. I am running vBulletin 3.8.4 Patch Level 1 and my 'owned license' will expire in a few days.

1. Am I required to purchase vBulletin 4.0
2. If I do not chose to upgrade to vBulletin 4.0* will I still have access to bug fixes and patch updates for 3.8.4 ?
3. How do I go about renewing my 'owned license' if I chose to stick with 3.8.4?

Thank you.