To license under Microsoft SQL Server Enterprise 2012 they would license it as 40 (4×10) core licenses. (See the note about “Software Assurance Implications” below).

Edition Changes SQL Server 2012 will be available in three editions: Enterprise, Business Intelligence and Standard.

“For example, Microsoft SQL Server Standard edition will be able to run on a four-processor server with dual-core processors, utilizing all cores on the processors, and requiring just four licenses.