**Insured:** International Business Machines  
**Policy No.:** UFP0021773-00  
**Endorsement No.:** 11  
**Effective Date:** May 21, 2007  

---

**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 Company shall retain a Minimum Earned Premium of thirty-five percent (35%) of the total premium for the Annual Period.

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 and conditions of this Policy remain unchanged.

---

**Arch Reinsurance Ltd.**

By:  
Title: Senior Vice President  
Underwriting Manager  
Excess Casualty

Date: September 6, 2007  
Ref: OCXS 4023 Ed. 4/1/02

Page 1 of 1