# Allied World

**Endorsement No:** 2  
**This endorsement, effective:** May 21, 2015 (at 12:01 A.M. prevailing time at the address of the Named Insured as shown in Item 1(b) of the Declarations)  
**forms a part of Policy No:** C018124/003  
**Issued to:** International Business Machines Corporation

## PREMIUM PAYMENT CONDITION

Notwithstanding anything to the contrary contained in this Policy, it is a requirement of this Policy that:

(a) the premium is to be received by the Company no later than thirty (30) days after the beginning of the Policy Period specified in Item 2. of the Declarations of this Policy,

(b) any installment premium is to be received by the Company no later than thirty (30) days after the due date of such installment premium,

(c) any other additional premium is to be received by the Company no later than thirty (30) days after the due date applicable to such additional premium, or as may otherwise be agreed by the Company.

In consideration of the foregoing:

1. failure to comply with (a) above entitles the Company to refuse to be bound by this contract of insurance,
2. failure to comply with (b) above entitles the Company to invoke the cancellation provisions of this Policy,
3. failure to comply with (c) above entitles the Company to invoke the cancellation provisions of this Policy with respect to any additional coverage which is subject to such additional premium charge.

Payment(s) of premium(s) when due shall be made to:

Aon (Bermuda) Ltd.  
Aon House  
30 Woodbourne Avenue,  
Pembroke, Bermuda HM08

Ref: ACBSF-404  
(AWAC Ed. 09/14)

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