Auto-renewal option for jquery image gallery with thumbnails

What is auto-renewal option? Does this mean purchasing this jquery image gallery with thumbnails requires a yearly license renewal?

Q: I am trying to make a purchase for a license for VisualLightBox on your website.
Your website states that the license is for unlimited websites however the payment pages says that this is a subscription based product that needs to be renewed.
I cannot find any information on your site. Can you please explain?

A: The Business License is for life, it also includes 1 year of free upgrades.

After your free upgrade period will expire, you will be able to upgrade your license for only the 50% of the current license price or continue to use version you received as a last free upgrade as long as you need it.

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