# Allied World Assurance Company

**Endorsement No:** 5  
**This endorsement, effective:** May 21, 2008 (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:** C007539/002  
**Issued to:** International Business Machines Corporation  
**by:** Allied World Assurance Company, Ltd.

All other terms and conditions of this Policy remain unchanged.

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**ALLIED WORLD ASSURANCE COMPANY, LTD.**

**By:**  
**Michael Hoffmann**  
**Title:** Senior Vice President  
**Date:** August 15, 2008

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**Ref:** ACFF-404  
(AWAC Ed.11/01)  
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