# Canopius Bermuda

**Endorsement No:** 004

**This endorsement effective:** May 21, 2010 (at 12:01AM 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

**ADDITIONAL/RETURN PREMIUM:** NIL

**PREMIUM PAYMENT CONDITION**

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:

Canopius Underwriting Bermuda Limited
"Atlantic House"
11 Par-La-Ville Road
Hamilton, HM 11
Bermuda

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.

**June 18, 2010**
**Date of Issue**

Ref: BSF02-CUBL004-07-09

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