# CHUBB EXCESS LIABILITY INSURANCE - SL

## Endorsement

**Policy Period:** MAY 21, 2010 to MAY 21, 2011  
**Effective Date:** May 21, 2010  
**Policy Number:** 7966-56-84  
**Insured:** INTERNATIONAL BUSINESS MACHINES CORPORATION  
**Name of Company:** FEDERAL INSURANCE COMPANY  
**Date Issued:** May 20, 2010  

## Endorsement New York Cancellation

**THIS POLICY IS SUBJECT TO THE FOLLOWING ENDORSEMENT**

The following Cancellation condition is added to the policy.

The first named insured may cancel this policy or any of its individual coverages at any time by sending us a written request or by returning the policy and stating when thereafter cancellation is to take effect.

The earned premium will be computed on a pro rata basis. Any unearned premium will be returned as soon as practicable.

**CANCELLATION BY US OF POLICIES IN EFFECT FOR 60 DAYS OR LESS**

We may cancel this policy by mailing or delivering to the first named insured, at the address shown in this policy, and the authorized agent or broker, if any, written notice of cancellation. The notice of cancellation will state the reason for cancellation and will be mailed or delivered at least:

A. 30 days before the effective date of cancellation if the policy is cancelled for any reason not included in paragraph B. below.
B. 15 days before the effective date of cancellation if the policy is cancelled for any of the following reasons:
1. nonpayment of premium, provided, however, that a notice of cancellation on this ground shall inform you of the amount due;
2. conviction of a crime arising out of acts increasing the hazard insured against;
3. discovery of fraud or material misrepresentation in the obtaining of the policy or in the presentation of a claim thereunder;
4. after issuance of the policy or after the last renewal date, discovery of an act or omission, or a violation of any policy condition, that substantially and materially increases the hazard insured against, and which occurred subsequent to inception of the current policy period.
5. a material physical change in the property insured:
   a. occurring after issuance or last annual renewal anniversary date of the policy; and

New York – Cancellation  
Form 07-02-1305 (Rev. 11/04) Endorsement  
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