# PAY ON BEHALF AMENDMENT

| INSURED | POLICY NUMBER |
|---------|---------------|
| INTERNATIONAL BUSINESS MACHINES CORP. | GFE 536 25 00 |

| PRODUCER | EFFECTIVE DATE |
|----------|----------------|
| JOHNSON & HIGGINS | 5-21-91 |

**INSURING AGREEMENTS I. COVERAGE., the words "indemnify the Insured for" in the first sentence are replaced by the words "pay on behalf of".**

This Form must be attached to Change Endorsement when issued after the policy is written.

**GULF INSURANCE COMPANY**
**COUNTERSIGNATURE OF AUTHORIZED AGENT**

**143114-1-88**
**2-24-92**