diff --git a/LICENSE.txt b/LICENSE.txt
index c1b552919e4f..e601d4382ad6 100644
--- a/LICENSE.txt
+++ b/LICENSE.txt
@@ -1,10 +1,13 @@
-Source code in this repository is covered by one of three licenses: (i) the
-Apache License 2.0 (ii) an Apache License 2.0 compatible license (iii) the
-Elastic License. The default license throughout the repository is Apache License
-2.0 unless the header specifies another license. Elastic Licensed code is found
-only in the x-pack directory.
+Source code in this repository is variously licensed under the Apache License
+Version 2.0, an Apache compatible license, or the Elastic License. Outside of
+the "x-pack" folder, source code in a given file is licensed under the Apache
+License Version 2.0, unless otherwise noted at the beginning of the file or a
+LICENSE file present in the directory subtree declares a separate license.
+Within the "x-pack" folder, source code in a given file is licensed under the
+Elastic License, unless otherwise noted at the beginning of the file or a
+LICENSE file present in the directory subtree declares a separate license.
 
 The build produces two sets of binaries - one set that falls under the Elastic
-License and another set that falls under Apache License 2.0. The binaries that
-contain `-oss` in the artifact name are licensed under Apache License 2.0 and
-these binaries do not package any code from the x-pack directory.
+License and another set that falls under Apache License Version 2.0. The
+binaries that contain `-oss` in the artifact name are licensed under the Apache
+License Version 2.0.