**HIGHLANDS INSURANCE COMPANY**
**HIGHLANDS UNDERWRITERS INSURANCE COMPANY**

**IS AGREED THAT EFFECTIVE:** May 21, 1980

**POLICY NO.:** SR 20845
**ISSUED TO:** INTERNATIONAL BUSINESS MACHINES CORP.
**ENDORSEMENT NO.:** 8

**ADDITIONAL PREMIUM:** $12,500
**RETURN PREMIUM:** -- 

In consideration of an additional premium of $12,500, it is agreed as per the Provisions stated in Endorsement No. 4 and 4 (a), the policy is hereby extended for an additional year from May 21, 1980 to May 21, 1981.

It is further agreed that United States and Canadian premiums for this annum are hereby allocated as follows:

- United States: $12,095
- Canada: $405
- Total Premium: $12,500

**NY - 5/8/80**
All other terms and conditions remaining unchanged.

This endorsement countersigned by an authorized representative of the company forms a part of the above policy as indicated.

**AUTHORIZED REPRESENTATIVE:**