diff --git a/COPYING b/COPYING
index 76074def38cadda73da95592f30ff9ac163fc2fb..e9705a5fe3fffa4f76af92f8d3dabde967f3a38c 100644
--- a/COPYING
+++ b/COPYING
@@ -1,7 +1,29 @@
-Copyright 2005-2007 Christopher Montgomery, Jean-Marc Valin, CSIRO and other
-contributors
+Copyright 2005-2007 Christopher Montgomery, Jean-Marc Valin,
+                    Timothy Terriberry, CSIRO, and other contributors
 
-These files in this project are currently licensed under several licenses,
-including the (revised) BSD license and the LGPL. Make sure you're careful
-with what you do with these files -- not that anything in there is really 
-working yet!
+Redistribution and use in source and binary forms, with or without
+modification, are permitted provided that the following conditions
+are met:
+
+- 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 in the
+documentation and/or other materials provided with the distribution.
+
+- Neither the name of the Xiph.org Foundation nor the names of its
+contributors may be used to endorse or promote products derived from
+this software without specific prior written permission.
+
+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 FOUNDATION 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.