diff --git a/LICENSE b/LICENSE
index 92443c42f7..2e03f17eef 100644
--- a/LICENSE
+++ b/LICENSE
@@ -1,16 +1,19 @@
 Racket is distributed under the MIT license and the Apache version 2.0
-license, at your option. However, Racket relies on some components
-distributed under other licenses. In short:
+license, at your option. However, the Racket runtime system includes
+components distributed under other licenses. In short:
 
-  * The traditional Racket executable includes code distributed under
-    the GNU Lesser General Public License, version 3. This is the
-    executable built from code in racket/src/racket.
+  * The traditional Racket runtime system includes code distributed
+    under the GNU Lesser General Public License, version 3. This
+    runtime system is built from code in racket/src/racket.
 
-  * The Racket-on-Chez executable includes code distributed under the
-    Apache version 2.0 license, in particular Chez Scheme.
+  * The Racket on Chez Scheme runtime system embeds Chez Scheme, which
+    is distributed under the Apache version 2.0 license. This runtime
+    system is built from code in racket/src/cs.
 
-These distinctions apply to the `racket` executable, not to Racket
-source code and documentation in this repository.
+Except for Windows executables that are created with the "embed DLLs"
+option, the runtime system remains separate as a shared library or
+additional executable, which means that it is dynamically linked and
+can be replaced with a modified variant by users.
 
 See the file racket/src/LICENSE-LGPL.txt for the full text of the GNU
 Lesser General Public License.
diff --git a/racket/src/LICENSE.txt b/racket/src/LICENSE.txt
index e5462107e2..9937e1b9ac 100644
--- a/racket/src/LICENSE.txt
+++ b/racket/src/LICENSE.txt
@@ -1,16 +1,19 @@
 Racket is distributed under the MIT license and the Apache version 2.0
-license, at your option. However, Racket relies on some components
-distributed under other licenses. In short:
+license, at your option. However, the Racket runtime system includes
+components distributed under other licenses. In short:
 
-  * The traditional Racket executable includes code distributed under
-    the GNU Lesser General Public License, version 3. This is the
-    executable built from code in the `racket` subdirectory.
+  * The traditional Racket runtime system includes code distributed
+    under the GNU Lesser General Public License, version 3. This
+    runtime system is built from code in racket/src/racket.
 
-  * The Racket-on-Chez executable includes code distributed under the
-    Apache version 2.0 license, in particular Chez Scheme.
+  * The Racket on Chez Scheme runtime system embeds Chez Scheme, which
+    is distributed under the Apache version 2.0 license. This runtime
+    system is built from code in racket/src/cs.
 
-These distinctions apply to the `racket` executable, not to Racket
-source code and documentation in this repository.
+Except for Windows executables that are created with the "embed DLLs"
+option, the runtime system remains separate as a shared library or
+additional executable, which means that it is dynamically linked and
+can be replaced with a modified variant by users.
 
 See the file LICENSE-LGPL.txt for the full text of the GNU
 Lesser General Public License.