# CHUBB EXCESS LIABILITY INSURANCE - SL

## Endorsement

**Policy Period:** MAY 21, 2014 To MAY 21, 2015

**Effective Date:** May 21, 2014

**Policy Number:** 7966-56-84

**Insured:** INTERNATIONAL BUSINESS MACHINES CORPORATION

**Name of Company:** FEDERAL INSURANCE COMPANY

**Date Issued:** May 19, 2014

## New York Amendatory Endorsement

**THIS POLICY IS SUBJECT TO THE FOLLOWING ENDORSEMENT:**

The following provisions are added to this policy:

**Bankruptcy Or Insolvency:** Bankruptcy or insolvency of the insured or the insured's estate will not relieve the Company of its obligations under this policy.

## Cancellation

The first named insured may cancel this policy at any time by sending a written request or by returning the policy to the Company and stating when thereafter cancellation is to take effect.

If cancellation is at the request of the insured, return premium will be computed at 90% of pro rata. If the Company cancels, return premium will be computed pro rata.

## Cancellation By The Company Of Policies In Effect 60 Days Or Less

The Company may cancel this policy by mailing or delivering to the first named insured, at the address shown in this policy, and the authorized agent or broker, if any, written notice of cancellation. The notice of cancellation will state the reason for cancellation and will be mailed or delivered at least:

a. 30 days before the effective date of cancellation if the policy is cancelled for any reason not included in paragraph b. below.
b. 15 days before the effective date of cancellation if the policy is cancelled for any of the following reasons:
(1) nonpayment of premium;
(2) conviction of a crime arising out of acts increasing the hazard insured against;
(3) discovery of fraud or material misrepresentation in the obtaining of the policy or in the presentation of a claim thereunder;
(4) after issuance of the policy or after the last renewal date, discovery of an act or omission, or a violation of any policy condition, that substantially and materially increases the hazard insured against and which occurred subsequent to inception of the current Policy Period;

New York Amendatory
Form 07-02-1439 (Rev. 6/13) Endorsement
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