**Minimum Earned Premium Endorsement**

It is understood and agreed that in the event of cancellation of this Policy by or at the direction of the Insured, the Insurer shall retain a Minimum Earned Premium of 35%.

It is further agreed that the provision regarding cancellation by the Insured is amended to read:

"If the Insured cancels this policy, earned premium will be computed in accordance with the customary pro-rata rate table and procedure, or the Minimum Earned Premium stated herein, whichever is greater."

All other terms, conditions and exclusions of the Policy remain unchanged.

**Aspen Bermuda Limited**

By: **Tina Proctor**
Title: Senior Vice President

Date: July 16, 2013