diff --git a/LICENSE b/LICENSE
index afa43ead9f..46b5dc8ddb 100644
--- a/LICENSE
+++ b/LICENSE
@@ -12,7 +12,37 @@ Additional copyrights may follow
 
 $HEADER$
 
-This is a placeholder for what will eventually be the license text for
-Open MPI.  It will likely be based off the modified BSD license:
+Redistribution and use in source and binary forms, with or without
+modification, are permitted provided that the following conditions are
+met:
 
-    http://www.opensource.org/licenses/bsd-license.php
+- Redistributions of source code must retain the above copyright
+  notice, this list of conditions and the following disclaimer.
+
+- Redistributions in binary form must reproduce the above copyright
+  notice, this list of conditions and the following disclaimer listed
+  in this license in the documentation and/or other materials
+  provided with the distribution.
+
+- Neither the name of the copyright holders nor the names of its
+  contributors may be used to endorse or promote products derived from
+  this software without specific prior written permission.
+
+The copyright holders provide no reassurances that the source code
+provided does not infringe any patent, copyright, or any other
+intellectual property rights of third parties.  The copyright holders
+disclaim any liability to any recipient for claims brought against
+recipient by any third party for infringement of that parties
+intellectual property rights.
+
+THIS SOFTWARE IS PROVIDED BY THE COPYRIGHT HOLDERS AND CONTRIBUTORS
+"AS IS" AND ANY EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT
+LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR
+A PARTICULAR PURPOSE ARE DISCLAIMED. IN NO EVENT SHALL THE COPYRIGHT
+OWNER OR CONTRIBUTORS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL,
+SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT
+LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE,
+DATA, OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER CAUSED AND ON ANY
+THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT
+(INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE
+OF THIS SOFTWARE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.