After the initial 1-year term is over, your perpetual license will continue to work normally, but will only activate software upgrades released within that 1-year term. That is, you will no longer be able to benefit from newer versions.
If you like your Maverick experience and need features included in newer upgrades, you can buy a 1-year upgrades term anytime, which will extend your ability to benefit from software upgrades for one more year.
The price of 1-year upgrades term is listed on our electronic shop: