# TRADE OR ECONOMIC SANCTIONS ENDORSEMENT

| Named Insured | International Business Machines Corporation |
|---------------|-------------------------------------------|
| Endorsement Number | 33 |

| Policy Symbol | HDO |
|---------------|-----|
| Policy Number | G71237606 |
| Policy Period | 05/21/2019 to 05/21/2020 |
| Effective Date of Endorsement | - |

| Issued By (Name of Insurance Company) | ACE American Insurance Company |
|---------------------------------------|-------------------------------|

Insert the policy number. The remainder of the information is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

**THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.**

This insurance does not apply to the extent that trade or economic sanctions or other laws or regulations prohibit us from providing insurance, including, but not limited to, the payment of claims. All other terms and conditions of the policy remain unchanged.

Authorized Agent

ALL-21101 (11/06) Ptd. in U.S.A.
Page 1 of 1