**End 004-04/14**
Form BSF-03
Page 1 of 1

**ADDITIONAL/RETURN PREMIUM: NIL**

**PREMIUM PAYMENT CONDITION ENDORSEMENT**

Notwithstanding anything to the contrary contained in this Policy, it is a requirement of this Policy that:

(a) the premium is to be received by the Company no later than thirty (30) days after the inception date,
(b) any installment premium is to be received by the Company no later than thirty (30) days after the effective date of such installment premium,
(c) any other additional premium is to be received by the Company no later than thirty (30) days after the effective date applicable to such additional premium, or as may otherwise be agreed by the Company.

In consideration of the foregoing:
1. failure to comply with (a) above entitles the Company to refuse to be bound by this contract of insurance,
2. failure to comply with (b) above entitles the Company to invoke the cancellation provisions of this Policy,
3. failure to comply with (c) above entitles the Company to invoke the cancellation provisions of this Policy with respect to any additional coverage which is subject to such additional premium charge.

Payment(s) of premium(s) when due shall be made to:

Aon (Bermuda) Ltd.
Aon House
30 Woodbourne Avenue
Pembroke, Bermuda HM08

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, 2017
All other terms and conditions remain unchanged.
This endorsement is attached to and made a part of Policy No. IBM-0122/BSF03
of Chubb Bermuda Insurance Ltd.

Issued to: International Business Machines Corporation
Date of Issue: June 13, 2017
By [Signature] Authorized Representatives
End No. 2