# Allied World Assurance Company

**Endorsement No:** 4  
**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.

## CHANGES IN FOLLOWED POLICY ENDORSEMENT

In consideration of the premium charged, it is agreed that the following is added to this Policy, notwithstanding anything to the contrary in the Followed Policy:

If during the Policy Period of this Policy, the terms, conditions, exclusions or limitations of the Followed Policy are changed in any manner from those in effect on the inception date of this Policy, the Insured shall as a condition precedent to its rights under this Policy give to the Insurer as soon as practicable written notice of the full particulars thereof. This Policy shall become subject to any such changes upon the effective date of the changes in the Followed Policy, but only upon the condition that the Insurer agrees to follow such changes by written endorsement attached hereto and the Insured agrees to any additional premium or amendment of the provisions of this Policy required by the Insurer relating to such changes. Further, such change in coverage is conditioned upon the Insured's payment when due of any such additional premium required by the Insurer relating to such changes.

All other terms and conditions of this Policy remain unchanged.

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**ALLIED WORLD ASSURANCE COMPANY, LTD.**

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

Ref: ACFF-403  
(AWAC Ed. 11/01)

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