>Wouldn't IBM's approval be required also, or even instead?

I elieve that the extent of IBM's approval is intended to be identified in 
the license agreement.
Since that license agreement does not cover ISV's, in the absence of 
additional agreement, ISV billing is expected to remain unchanged (and 
therefore what you can do with respect to invoking ISV code from a 
zIIP-enabled work unit is limited).

Peter Relson
z/OS  Core Technology Design

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