# CHUBB

## INDUSTRIAL AID AIRCRAFT – NEW YORK

| Named Insured | International Business Machines Corporation |
|---------------|-------------------------------------------|
| Endorsement Number | 014 |

| Policy Symbol | XEU |
|---------------|-----|
| Policy Number | G27983212 008 |
| Policy Period | 05/21/2023 to 05/21/2024 |
| Effective Date of Endorsement | 05/21/2023 |

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 V. EXCLUSIONS, Aircraft** is deleted and replaced with the following:
   - **Aircraft**
     This insurance does not apply to "bodily injury" or "property damage" arising out of the ownership, maintenance, use or entrustment to others of any aircraft owned or operated by or rented or loaned to any "insured". Use includes operation and "loading and unloading".
     This exclusion applies even if the claims against any "insured" allege negligence or other wrongdoing in the supervision, hiring, employment, training or monitoring of others by that "insured", if the "occurrence" which caused the "bodily injury" or "property damage" involved the ownership, maintenance, use or entrustment to others of any aircraft that is owned or operated by or rented or loaned to any "insured".
     This exclusion does not apply to "bodily injury" or "property damage" arising out of the ownership, maintenance use, or entrustment to others of any "industrial aid aircraft" owned or operated by or rented or loaned to any "insured". Use includes operation and "loading and unloading". Any coverage pursuant to this exception to the Aircraft exclusion shall be provided excess of the "scheduled retained limit" shown in the Schedule of Retained Limits.

2. **Notwithstanding, Section VII. CONDITIONS, Paragraph L., all "other insurance" applicable to a "loss" covered by the exception to the Aircraft exclusion contained in this endorsement may be used to reduce or exhaust the Industrial Aid Aircraft "scheduled retained limit" shown in the Schedule of Retained Limits.**

3. **Section VII. DEFINITIONS** is amended to add the following definition:
   - **"Industrial aid aircraft" means aircraft with a maximum passenger capacity of twenty (20) persons (including crew) used predominantly for business travel of "employees" and their non fee paying passenger guests.**

**SCHEDULE OF RETAINED LIMITS**

| Coverage | Retained Limit Amount | Retained Limit Type | Defense Treatment (Within the Limit / Outside the Limit) |
|----------|----------------------|--------------------|------------------------------------------------------------|
| Industrial Aid Aircraft | $150,000,000 | Each Occurrence | Outside the Limit |

XSE-53385 (01/20)
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