diff --git a/index.html b/index.html
index 7fb5d4a0c..01435d41b 100644
--- a/index.html
+++ b/index.html
@@ -370,9 +370,15 @@ <h3>Ecosystem Overview</h3>
           <dd>
 A role an [=entity=] performs by asserting [=claims=] about one or
 more [=subjects=], creating a [=verifiable credential=] from these
-[=claims=], and transmitting the [=verifiable credential=] to a
-[=holder=]. Example issuers include corporations, non-profit organizations,
+[=claims=], and transmitting the [=verifiable credential=] to the
+[=issuee=]. Example issuers include corporations, non-profit organizations,
 trade associations, governments, and individuals.
+          </dd>
+          <dt>[=issuee=]</dt>
+          <dd>
+A role an [=entity=] might perform by receiving one or more
+[=verifiable credentials=] from an [=issuer=]. An issuee is a subclass
+of the holder role.
           </dd>
           <dt>[=subject=]</dt>
           <dd>
@@ -420,6 +426,8 @@ <h3>Ecosystem Overview</h3>
           </figcaption>
         </figure>
 
+[PR NOTE. Figure 1 will need updating to replace Holder with Issuee/Holder]
+
         <p class="note">
 <a href="#roles"></a> above provides an example ecosystem in which to ground the
 rest of the concepts in this specification. Other ecosystems exist, such as
@@ -584,13 +592,18 @@ <h2>Terminology</h2>
 this document to other specifications. This specification decouples the
 [=identity provider=] concept into two distinct concepts: the [=issuer=]
 and the [=holder=].
+        </dd>
+        <dt><dfn class="export" data-lt="issuee|issuee's">issuee</dfn></dt>
+        <dd>
+A role an [=entity=] performs when it receives a [=verifiable credential=] from
+the [=issuer=].
         </dd>
         <dt><dfn class="export" data-lt="issuers|issuer's">issuer</dfn></dt>
         <dd>
 A role an [=entity=] can perform by asserting [=claims=] about one or
 more [=subjects=], creating a [=verifiable credential=] from these
-[=claims=], and transmitting the [=verifiable credential=] to a
-[=holder=].
+[=claims=], and transmitting the [=verifiable credential=] to the
+[=issuee=].
         </dd>
         <dt><dfn data-lt="named graphs">named graph</dfn></dt>
         <dd>