**Page 3 of 3**

**ACE Bermuda Insurance Ltd., Policy No. IBM-1455/OCC01**

**End. No. 13**
**REDUCED MINIMUM RETENTION ENDORSEMENT**
Eff. May 21/10
In consideration of the premium charged it is hereby understood and agreed that Item 12 of the Insuring Agreement is amended as set forth in this endorsement.

**End. No. 14**
**DOUBLE AGGREGATE ENDORSEMENT**
Eff. May 21/10
This endorsement evidences that Item 2 of the Declarations, Limits of Liability is amended as defined in this endorsement.

The above explanations only serve as a brief description of these endorsements. Please refer to the actual endorsement for exact terms and conditions.

We trust that you will find the attached to be in good order, however, should you have any questions please do not hesitate to contact our offices.

Sincerely,

**Richard Keegan**
Broker

RK/en

Encl.

copy: Steve Goldstein – ARS of New York

AON®