Thanks oldhand. I actually found the answer quite easily in MS's licensing guide:

http://www.google.com/url?sa=t&rct=j&q=ms%20sql%20server%20licensing&source=web&cd=2&cad=rja&ved=0CDYQFjAB&url=http%3A%2F%2Fdownload.microsoft.com%2Fdownload%2F7%2F3%2FC%2F73CAD4E0-D0B5-4BE5-AB49-D5B886A5AE00%2FSQL_Server_2012_Licensing_Reference_Guide.pdf&ei=R2HCUPWID8SZyQGMtoCYBA&usg=AFQjCNHdiY7wTdgDJKB9TgNDmeZr1A7BbA