Is the annual upgrade plan a perpetual license?

[jsbach]

I'm confused as to the difference between an "annual upgrade plan" and an "annual subscription."

I was hoping someone could confirm: If I upgrade to Pro Tools 11 via the $199 upgrade plan, is this an extension of my perpetual license?
So, when Pro Tools 12 comes out, I will have a perpetual license for PT12 that is current through my annual upgrade plan expiration date?
This is the same license as someone who starts from scratch with the $899 perpetual license? If so, I think I'm finally starting to understand how the pricing of the new plans work.

The options I see on the Avid website are:

Pro Tools | Software monthly subscription (one-month license subscription with updates and support) starts at $29.99/month

Pro Tools | Software annual upgrade plan (12-months of updates and support) starts at $199

Pro Tools | Software annual subscription (12-month license subscription with updates and support) starts at $299

Perpetual licenses for Pro Tools | Software (includes 12-months of updates and support) start at $899