# CANOPIUS Bermuda

**Endorsement No:** 005

**This endorsement effective:** May 21, 2010 (at 12:01 AM prevailing time at the address of the Named Insured as shown in Item 1(b) of the Declarations)

**Forms a part of Policy No:** IBM-141/CUBLBSF02-10

**Issued to:** International Business Machines Corporation

**By:** Canopius Underwriting Bermuda Limited

## ECONOMIC OR TRADE SANCTIONS ENDORSEMENT

It is hereby understood and agreed that payment of a loss under this Policy shall only be made in full compliance with all United States of America economic or trade sanction laws or regulations, including, but not limited to, sanctions, laws and regulations administered and enforced by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC").

Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, conditions, exclusions or limitations of the Policy referenced above, except as expressly stated herein.

**Date of Issue**

Ref: BSF02-CUBL016-05-13

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**Signature:** Jeremy J. Wright, VP