I found my answer in the 'Pricing and Licensing' Article:
Maximum users1per site
1.Number of users is calculated by the number of rows in the CMS user table
I found my answer in the 'Pricing and Licensing' Article:
Maximum users1per site
1.Number of users is calculated by the number of rows in the CMS user table
That's correct.
Also the license is applicable for one production site and its test/development environments - you cannot use it on 2 live production sites.