End 091-02/12
Form OCC01
Page 1 of 1

**ADDITIONAL/RETURN PREMIUM: NIL**

**TRADE OR ECONOMIC SANCTIONS ENDORSEMENT**

The Insurer shall not provide coverage for or be liable to pay any claim hereunder if and to the extent such coverage or payment would violate, or expose the Insurer, or any of its directors, officers, employees or agents, to any sanctions or penalties under any applicable trade or economic sanctions laws, rules, regulations or resolutions.

Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, conditions, exclusions or limitations of the Policy referenced below, except as expressly stated herein.

The effective date of this endorsement is May 21, 2012.
All other terms and conditions remain unchanged.
This endorsement is attached to and made a part of Policy No. IBM-1521/OCC01 of ACE Bermuda Insurance Ltd.

Issued to: International Business Machines Corporation
Date of Issue: May 9, 2012
By [Signature]
Authorized Representatives

End No. 15