# Allied World

**Endorsement No:** 4  
**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  

## NON FOLLOWED ENDORSEMENT

It is hereby understood and agreed that the following is added under Item 4 a), "Followed Policy," of the Declarations:

Provisions of the Followed Policy and endorsements to the Followed Policy that this Policy does not follow:

| Provisions/Endorsement/Form No. | Title |
|----------------------------------|-------|
| XS-27989a                        | Punitive Damages – Most Favorable Jurisdiction Limitation Endorsement |

All other terms and conditions of this Policy remain unchanged.

**ALLIED WORLD ASSURANCE COMPANY, AG**

By: Kimberly Pursell  
Title: Vice President  
Date: July 29, 2015

Ref: ACBSF-457  
(AWAC Ed. 12/14)

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