Both sides are getting a nonexclusive, nontransferrable and non-sublicensable license to certain of the other’s patents. Apple also agrees not to sue HTC over certain covered products, though the specific products are redacted. The agreement also appears to exclude any of Apple’s design patents and nine specified HTC patents as well as coverage for any products that are defined as cloning an Apple product. (An arbitration process is outlined should Apple feel that HTC has released a “cloned” product.)
Although there is a lot of redacted content, it's likely that more information will be gleaned from 143 page document.