# THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

## ENDORSEMENT #4

This endorsement, effective 12:01 A.M. May 21, 2014

forms a part of Policy No. 60703940 issued to International Business Machines Corporation by American International Reinsurance Company, Ltd.

## COVERAGE TERRITORY ENDORSEMENT

This endorsement modifies insurance provided under the following:

Payment of loss under this policy shall only be made in full compliance with all United States of America economic or trade sanction laws or regulations, including, but not limited to, sanctions, laws and regulations administered and enforced by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC").

**AUTHORIZED REPRESENTATIVE**

89644 (7/05)

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