**CANOPIUS Bermuda**

**Endorsement No:** 007

**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 International Business Machines Corporation

**Issued to:** Canopius Underwriting Bermuda Limited

**ADDITIONAL/RETURN PREMIUM:** NIL

**SEVERAL LIABILITY NOTICE**

The subscribing insurers' obligations under contracts of insurance to which they subscribe are several and not joint and are limited solely to the extent of their individual subscriptions. The subscribing insurers are not responsible for the subscription of any co-subscribing insurer who for any reason does not satisfy all or part of its obligations.

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-CUBL005-07-09

**Page 1 of 1**

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