The Travelers  
Policy No. 7FSJEX-220T381-9-92  
Issue Date: 08/06/92  

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.  

This endorsement modifies such insurance as is  
afforded by the:  

FOLLOWING FORM EXCESS LIABILITY POLICY  

EXCLUSION - EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974  

It is agreed that such insurance as is afforded by this policy shall  
not apply to any "loss" arising out of any obligation imposed by the  
following law:  

Law  
Employee Retirement Income Security Act of 1974,  
as now or hereafter amended  

FF-48 (Ed. 07/88)