# AMENDATORY ENDORSEMENT – NEW YORK CHANGES

| Named Insured | International Business Machines Corporation |
|---------------|-------------------------------------------|
| Policy Symbol  | XEU                                       |
| Policy Number | G27983212 006                            |
| Policy Period | 05/21/2021 to 05/21/2022                  |
| Endorsement Number | 005 |
| Issued By (Name of Insurance Company) | ACE Property and Casualty Insurance Company |

**Effective Date of Endorsement:** 05/21/2021

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

This endorsement modifies insurance provided under the following:

**ENHANCED COMMERCIAL UMBRELLA LIABILITY POLICY**

The policy is amended as follows:

1. **Section IV. LIMITS OF INSURANCE AND “RETAINED LIMIT”, Paragraph H. is deleted in its entirety and replaced with the following:**

   H. The Limits of Insurance of this insurance and applicable “retained limit” apply separately to each consecutive annual period and to any remaining period of less than twelve (12) months, starting with the beginning of the “policy period”, unless the “policy period” is extended after issuance for an additional period of less than 12 months. Then the aggregate limit of the expiring policy shall be increased in proportion to the policy extension. If the insured elects to accept the terms, conditions and rates of a conditional renewal notice, a new annual aggregate shall become effective as of the inception date of the renewal, subject to regulations promulgated by the Superintendent of the Insurance Department of the State of New York.

3. **Section VI. CONDITIONS, Paragraph F. Duties in the Event of “Occurrence”, Claim or “Suit” is amended to add the following provision:**

   Notice given by or on behalf of the “insured”, or written notice by or on behalf of the injured person or any other claimant, to any agent of ours in New York State, with particulars sufficient to identify the “insured”, shall be considered to be notice to us.

4. **Section VI. CONDITIONS is amended by adding the following Conditions:**

   **Transfer of Duties When a Limit of Insurance Is Used Up**

   1. If we conclude that, based on “occurrences”, offenses, claims or “suits” which have been reported to us and to which this insurance may apply, the:
      a. General Aggregate Limit (other than Products-Completed Operations Aggregate Limit);
      b. Products-Completed Operations Aggregate Limit, or
      c. Each Occurrence Limit
      is likely to be used up in the payment of judgments or settlements, we will notify the first Named Insured, in writing, to that effect.
   2. When a limit of insurance described in Paragraph 1. above has actually been used up in the payment of judgments or settlements:
      a. We will notify the first Named Insured, in writing, as soon as practicable, that:
         (1) Such a limit has actually been used up; and
         (2) Our duty to defined “suits” seeking damages subject to that limit has also ended.

XSE-51819a (05/20)
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