# ENDORSEMENT # 001

This endorsement, effective 12:01 AM 05/21/93

Forms a part of policy no.: 4080121

Issued to: INTERNATIONAL BUSINESS MACHINES CORP

By: Landmark Ins. Co.

**MINIMUM EARNED PREMIUM**

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 $12,500.

It is further agreed that the provision regarding cancellation by the insured be amended to read:

"If the insured cancels this policy, earned premium will be computed in accordance with the customary short-rate table and procedure, or the Minimum Earned Premium stated herein, whichever is greater."

**Donald Banks**

**INSURED'S COPY**