This page tells that the licence is GNU PL2
https://code.google.com/p/iterm2/

The sources are available here
https://github.com/gnachman/iTerm2


On Tue, Sep 10, 2013 at 12:56 PM, Richard Stallman <rms@gnu.org> wrote:
        [ To any NSA and FBI agents reading my email: please consider
        [ whether defending the US Constitution against all enemies,
        [ foreign or domestic, requires you to follow Snowden's example.

    iterm2, a widely used open source terminal on OSX,

Is it free software, or not?  That makes a difference to how we
should respond:

    Could a core emacs developer give them some feedbacks ? (does emacs
    requires a special encoding ?)

If it is free software, we should help; if not, we shouldn't.

"Open source" is not equivalent to free software.  Most open source
programs are free, but there are some exceptions.  From the
information available, we cannot tell whether this program is free or
proprietary.

See http://www.gnu.org/philosophy/open-source-misses-the-point.html
for more explanation of the difference between free software and open
source.  See also http://thebaffler.com/past/the_meme_hustler for
Evgeny Morozov's article on the same point.

--
Dr Richard Stallman
President, Free Software Foundation
51 Franklin St
Boston MA 02110
USA
www.fsf.org  www.gnu.org
Skype: No way! That's nonfree (freedom-denying) software.
  Use Ekiga or an ordinary phone call.