# Allied World Assurance Company, Ltd.

**Endorsement No:** 7

**This endorsement, effective:** May 21, 2008 (at 12:01 A.M. prevailing time at the address of the Named Insured as shown in Item 1(b) of the Declarations)

**forms a part of Policy No:** C007539/002

**Issued to:** International Business Machines Corporation

**by:** Allied World Assurance Company, Ltd.

## MINIMUM EARNED PREMIUM

It is understood and agreed that in the event of cancellation of this Policy by or at the direction of the Named Insured, the Insurer shall retain a Minimum Earned Premium of $28,437.

It is further agreed that the provision regarding cancellation by the Named Insured is amended to read:

"If the Named Insured cancels this policy, earned premium will be computed in accordance with the customary pro-rata rate table and procedure, or the Minimum Earned Premium stated herein, whichever is greater."

All other terms and conditions of this Policy remain unchanged.

**ALLIED WORLD ASSURANCE COMPANY, LTD.**

By:
- **Michael Hoffmann**
- **Title:** Senior Vice President
- **Date:** August 15, 2008

Ref: ACFF-406
(AWAC Ed. 11/01)
Page 1 of 1