# Allied World Assurance Company

**Endorsement No:** 4  
**This endorsement, effective:** May 21, 2014 (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:** C018124/002  
**Issued to:** International Business Machines Corporation  

## NON FOLLOWED ENDORSEMENT

It is hereby understood and agreed that the following is added under Item 4 a), "Followed Policy," of the Declarations:

Endorsements to the Followed Policy that this Policy does not follow:
- **Endorsement/Form No.:** 26  
  **Title:** Punitive Damages - MPH Limitation Endorsement  
- **Endorsement/Form No.:** 34  
  **Title:** Non Pyramiding of Limits Endorsement  

All other terms and conditions of this Policy remain unchanged.

**ALLIED WORLD ASSURANCE COMPANY, AG**

By: Kimberly Pursell  
Title: Vice President  
Date: July 11, 2014

Ref: ACBSF-457  
(AWAC Ed. 10/13)

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