# Cancellation Endorsement

**End 048-12/15**
**Form BSF-03**
**Page 1 of 1**

**ADDITIONAL/RETURN PREMIUM: NIL**

**CANCELLATION ENDORSEMENT**

It is agreed and acknowledged that the first paragraph of CONDITIONS 3. CANCELLATION to this Policy is deleted and replaced as follows:

This Policy may be canceled by the first Named Insured listed in Item 1. a) of the Declarations of this Policy by mailing or delivering to the Company at the address set forth in Item 7(b) of the Declarations of this Policy advance written notice of cancellation. This Policy may be canceled by or on behalf of the Company by delivering to the first Named Insured or by mailing to the first Named Insured, by registered, certified, or other first class mail, at the first Named Insured's address set forth in Item 1. b) of the Declarations of this Policy, written notice stating when thereafter, not less than thirty (30) days in the event any premium is not paid when due, and not less than ninety (90) days in all other cases, cancellation shall be effective. Proof of mailing of such notice as aforesaid shall be sufficient proof of notice. It is agreed that the first Named Insured shall act on behalf of all Insureds with respect to giving and receiving notice of cancellation. The Policy Period terminates at the date and hour specified in such notice, but in case of notice of cancellation by the first Named Insured, in no event prior to the date such notice is received by the Company.

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, 2016**
All other terms and conditions remain unchanged.
This endorsement is attached to and made a part of Policy No. **IBM-0062/BSF03** of ACE Bermuda Insurance Ltd.

Issued to: **International Business Machines Corporation**
Date of Issue: **August 24, 2016**
By **Authorized Representatives**

End No. 4