# CHUBB

## BROAD FORM NAMED INSURED ENDORSEMENT
**(NAMED INSURED'S INTEREST)**

| Named Insured | International Business Machines Corporation |
|---------------|------------------------------------------|
| Endorsement Number | 007 |

| Policy Symbol XEU | Policy Number G27983212 009 | Policy Period 05/21/2024 to 05/21/2025 | Effective Date of Endorsement 05/21/2024 |
|-------------------|---------------------------------|----------------------------------------|-----------------------------------------|
| Issued By (Name of Insurance Company) | ACE Property and Casualty Insurance Company |

**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 VII. DEFINITIONS**, "Named Insured" is deleted in its entirety and replaced with the following:
   - "Named Insured" means:
     1. The Named Insured shown in the Declarations.
     2. As of the inception date of this policy:
        a. Any organization, other than a partnership, joint venture, or limited liability company, in which the first "Named Insured" shown in the Declarations maintains, either directly or indirectly, more than a fifty percent (50%) ownership interest;
        b. Any limited liability company in which a one hundred percent (100%) ownership interest is maintained by any combination of "Named Insureds" qualifying under paragraph 1. or 2.a. above;
     3. After the inception date of this policy:
        a. Any newly formed organization in which the first "Named Insured" shown in the Declarations maintains, either directly or indirectly, a one hundred percent (100%) ownership interest and that is solely comprised of assets owned prior to the inception date by any combination of "Named Insureds" identified in paragraphs 1., 2.a., or 2.b. of the definition of "Named Insured"; and
     4. Any partnership, joint venture, or limited liability company where the first "Named Insured" shown in the Declarations or its "subsidiary":
        i. has a direct or indirect ownership interest greater than fifty percent in such joint venture, partnership, or limited liability company;
        ii. financially controls and actively manages such joint venture, partnership, or limited liability company; or
        iii. has, in a contract or agreement, undertaken the sole obligation to provide insurance such as is afforded by this policy to such joint venture, partnership, or limited liability company. In no event shall the insurance so afforded by this provision have limits of liability greater than, or coverage broader than, the limits of liability and coverage otherwise afforded by this policy.
     5. Any organization, other than a partnership, joint venture or limited liability company, you newly acquire or form after the inception date of this policy, in which the first "Named Insured" shown in the Declarations maintains, directly or indirectly, more than a fifty percent (50%) ownership interest, provided:
        a. The annual gross revenues of such organization do not exceed ;

XSE-52240a (12/21)
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