# AIRCRAFT EXCLUSION WITH EXCEPTION AND SELF-INSURED RETENTION FOR INDUSTRIAL AID AIRCRAFT

| Named Insured | International Business Machines Corporation |
|---------------|-------------------------------------------|
| Endorsement Number | 021 |

| Policy Symbol | XOO |
|---------------|-----|
| Policy Number | G27983212 001 |
| Policy Period | 05/21/2016 to 05/21/2017 |
| Effective Date of Endorsement | 05/21/2016 |

Issued By (Name of Insurance Company) | ACE Property and Casualty Insurance Company |

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

This endorsement modifies insurance provided under the following:
**COMMERCIAL UMBRELLA LIABILITY POLICY**

This policy is amended as follows:

## I. AIRCRAFT EXCLUSION

Solely with respect to any and all references to aircraft, Exclusion A. of Section V. EXCLUSIONS, is deleted and replaced by the following:

### A. Aircraft

This insurance does not apply to "bodily injury" or "property damage" arising out of the ownership, maintenance, use or entrustments to others of any aircraft owned or operated by or rented or loaned to any "insured". Use includes operation and "loading and unloading".

This exclusion applies even if the claims against any "insured" allege negligence or other wrongdoing in the supervision, hiring, employment, training or monitoring of others by that "insured", if the "occurrence" which caused the "bodily injury" or "property damage" involved the ownership, maintenance, use or entrustment to others of any aircraft that is owned or operated by or rented or loaned to any "insured".

This exclusion does not apply to "bodily injury" or "property damage" arising out of the ownership, maintenance use, or entrustment to others of any "industrial aid aircraft" owned or operated by or rented or loaned to any "insured".

All references to watercraft in Exclusion A. remain unchanged, unless amended by separate endorsement.

## II. INDUSTRIAL AID AIRCRAFT SELF-INSURED RETENTION

### A. For the purpose of this endorsement only, the Self-Insured Retention in the Declarations is amended as follows:

For any "loss" to which this insurance applies and arising out of the ownership, maintenance use, or entrustment to others of any "industrial aid aircraft" owned by or rented or loaned to any "insured", the Self-Insured Retention for which the Named Insured is responsible will be $150,000,000 each "occurrence". This Self-Insured Retention will not be reduced by "defense expenses".

### B. For the purpose of this endorsement only, Paragraphs A. and D. of Section III. DEFENSE AND SUPPLEMENTARY PAYMENTS are deleted and Paragraphs A. is replaced by the following:

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