# SPECIFIED AREA EXCLUSION ENDORSEMENT

| Named Insured | International Business Machines Corporation |
|---------------|-------------------------------------------|
| Policy Symbol | HDO                                       |
| Policy Number | G48898919                                 |
| Policy Period | 05/21/2024 TO 05/21/2025                  |
| Issued By (Name of Insurance Company) | ACE American Insurance Company             |
| Endorsement Number | 47                                        |

**THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.**

**THIS ENDORSEMENT MODIFIES INSURANCE PROVIDED UNDER THE FOLLOWING:**

- COMMERCIAL GENERAL LIABILITY COVERAGE FORM
- PRODUCTS/COMPLETED OPERATIONS LIABILITY COVERAGE FORM

**TO THE EXTENT THE TERMS OR CONDITIONS OF THIS ENDORSEMENT CONFLICT WITH THE TERMS OR CONDITIONS OF THE POLICY TO WHICH THIS ENDORSEMENT IS ATTACHED, OR ANY OF THE POLICY'S OTHER ENDORSEMENTS, THE TERMS AND CONDITIONS OF THIS ENDORSEMENT SHALL SUPERSEDE.**

The policy is amended as follows:

I. The "coverage territory" of this policy is amended to exclude any country, region, or geographic area listed in the Schedule below (hereinafter, "Specified Area").

II. The following exclusion is added to the policy:
- There shall be no coverage afforded or benefit provided by this policy for any:
  - entity organized, headquartered, incorporated, registered or established in a "Specified Area";
  - natural person or resident located in a "Specified Area"; or
  - claim, action, "suit" or proceeding brought or maintained in a "Specified Area".

III. The addition of this endorsement does not imply that other policy provisions, including but not limited to any provision addressing compliance with applicable sanctions, do not also exclude coverage for the subject of this endorsement.

IV. To the extent any term used above is defined in this policy, such definition shall apply to this endorsement.

MS-344998 (05/22)
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