# LIBERALIZATION CLAUSE

| Named Insured | International Business Machines Corporation |
|---------------|-------------------------------------------|
| Endorsement Number | 20 |

| Policy Symbol | HDO |
|---------------|-----|
| Policy Number | G27865355 |
| Policy Period | 05/21/2017 to 05/21/2018 |
| Effective Date of Endorsement | - |

Issued By (Name of Insurance Company) | ACE American Insurance Company |

Insert the policy number. The remainder of the information is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

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

This Endorsement modifies insurance provided under the following:

- COMMERCIAL GENERAL LIABILITY COVERAGE FORM
- EXCESS COMMERCIAL GENERAL LIABILITY POLICY

If we revise or replace our standard policy form to provide more coverage without an additional premium charge, your policy will automatically provide the additional coverage as of the day the revision is effective in your state.

Authorized Agent

LD-20285 (06/06)
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