I think I found the answer to my own question, this was posted by a Microsoft MVP/mod on the official Microsoft forums. As I upgraded a full retail version I should be ok with my activation.
posted here as others might find this info useful.
"It really depends on the type of license that you had upgraded from.
When I upgrade a preinstalled (OEM) or retail version of Windows 7 or Windows 8/8.1 license to Windows 10, does that license remain OEM or become a retail license?
If you upgrade from a OEM or retail version of Windows 7 or Windows 8/8.1 to the free Windows 10 upgrade this summer, the license is consumed into it. Because the free upgrade is derived from the base qualifying license, Windows 10 will carry that licensing too.
If you upgrade from a retail version, it carries the rights of a retail version.
If you upgrade from a OEM version, it carries the rights of a OEM version.
Full version (Retail):
- Includes transfer rights to another computer.
- Doesn't require a previous qualifying version of Windows.
- Expensive
Upgrade version (Retail):
- Includes transfer rights to another computer.
- require a previous qualifying version of Windows.
- Expensive, but cheaper than full version
OEM :
OEM versions of Windows are identical to Full License Retail versions except for the following:
- OEM versions do not offer any free Microsoft direct support from Microsoft support personnel
- OEM licenses are tied to the very first computer you install and activate it on
- OEM versions allow all hardware upgrades except for an upgrade to a different model motherboard
- OEM versions cannot be used to directly upgrade from an older Windows operating system
What happens if I change my motherboard?
As it pertains to the OEM licenses this will invalidate the Windows 10 upgrade license because it will no longer have a previous base qualifying license which is required for the free upgrade. You will then have to purchase a full retail Windows 10 license. If the base qualifying license (Windows 7 or Windows 8.1) was a full retail version, then yes, you can transfer it.
From the Windows 10 end user license agreement:
b. Stand-alone software. If you acquired the software as stand-alone software (and also if you upgraded from software you acquired as stand-alone software), you may transfer the software to another device that belongs to you. You may also transfer the software to a device owned by someone else if (i) you are the first licensed user of the software and (ii) the new user agrees to the terms of this agreement. You may use the backup copy we allow you to make or the media that the software came on to transfer the software. Every time you transfer the software to a new device, you must remove the software from the prior device. You may not transfer the software to share licenses between devices."
