# ENDORSEMENT NO. 20

This endorsement, effective 12:01 AM: May 21, 2008

Forms a part of policy no.: 5443148

Issued to: INTERNATIONAL BUSINESS MACHINES CORPORATION

By: NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA.

**Commercial Umbrella Liability Policy with CrisisResponse®**

**Satellite Exclusion Endorsement**

Section V. EXCLUSIONS is amended to include the following additional exclusion:

**Satellite**

This insurance does not apply to Bodily Injury or Property Damage arising out of the ownership, operation, maintenance or use of any satellite.

**NOTICE:** THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS. 2 - 13000

Authorized Representative or countersignature (where required by law)