# Additional/Return Premium: NIL

## Premium Payment Endorsement

It is a condition precedent to any obligation of the Insurer pursuant to this Policy that the applicable policy premium shall be paid in full to the Insurer within thirty (30) days of the commencement of the Policy Period. It is understood and agreed by the Named Insured that this Policy may be cancelled by or on behalf of the Insurer automatically retroactive to the commencement of the Policy Period, if the premium or proof of payment thereof is not received by the Insurer within thirty (30) days of the commencement of such Policy Period.

Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, conditions, exclusions or limitations of the Policy referenced below, except as expressly stated herein.

The effective date of this endorsement is May 21, 2011.
All other terms and conditions remain unchanged.
This endorsement is attached to and made a part of Policy No. IBM-1493/OCC01 of ACE Bermuda Insurance Ltd.

Issued to: International Business Machines Corporation
Date of Issue: June 6, 2011
By [Authorized Representatives]