# ENDORSEMENT #3

This endorsement, effective May 21, 2014 (at 12:01 a.m. Prevailing Time at the address shown in Item 1 of the Declarations)

forms a part of Policy No. 60703940 issued to International Business Machines Corporation by American International Reinsurance Company, Ltd.

## VIOLATION OF STATUTES IN CONNECTION WITH SENDING, TRANSMITTING OR COMMUNICATING ANY MATERIAL OR INFORMATION EXCLUSION

It is hereby agreed and understood that this Policy does not apply to any liability arising out of any act or omission that violates any statute, ordinance or regulation that applies to the sending, transmitting, communicating or distributing of any material or information.

All other terms and conditions of this Policy remain unchanged.

**Authorized Representative**

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**AMERICAN INTERNATIONAL REINSURANCE COMPANY, LTD.**

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Pembroke, HM08

Bermuda

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