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Windows server 2012 R2 Hyper-V licensing

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Hello

I'm a network administrator at a small/medium business and we are currently thinking of virtualize our four servers on two ML350 servers. We have three 2012r2 licenses (think it's standard lisences). Before we decide to do this I have to find out how much it will cost us. However I have some small problems understanding the total cost of having two physical servers running Hyper-V where one of them will be the main host running all the four virtual servers and the other one for failover.

This is how I think it works:

I need to have four 2012r2 standard lisences in order to run all the four virtual servers on both of the physical Hyper-V hosts, then I will also need four server licenses for the four virtual servers running. So a total of 8 server licences. Is this correct? If not, what do I need? 


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