diff --git a/LICENSE.md b/LICENSE.md
index 33861e0b..83528969 100644
--- a/LICENSE.md
+++ b/LICENSE.md
@@ -8,7 +8,7 @@ Licenses of **third-party libraries** are listed in [LICENSE-dist.txt](LICENSE-d
 
 The **Component Library graphics** in the `res/ComponentLibrary` directory are copyright © 2018 [Grayscale](http://grayscale.info/) and licensed under [CC BY-NC 4.0](https://creativecommons.org/licenses/by-nc/4.0/). Commercial plugins must request a commercial license to use Component Library graphics by emailing contact@vcvrack.com.
 
-The **Core panel graphics** in the `res/Core` directory are copyright © 2018 [Grayscale](http://grayscale.info/). You may not create derivative works.
+The **Core panel graphics** in the `res/Core` directory are copyright © 2018 [Grayscale](http://grayscale.info/) and licensed under [CC BY-NC-ND 4.0](https://creativecommons.org/licenses/by-nc-nd/4.0/). You may not distribute modified adaptations.
 
 The **VCV logo and icon** are copyright © 2017 Andrew Belt and may not be used in derivative works.