# ENDORSEMENT # 001

This endorsement, effective 12:01 AM 05/21/91

Forms a part of policy no.: 8653496

Issued to: INTERNATIONAL BUSINESS MACHINES CORP

By: LEXINGTON INSURANCE COMPANY

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".

**Authorized Representative**

06/10/91

LEXDOC021(Ed.12/87)
LX0404

INSURED'S COPY