# JOINT VENTURE LIMITATION ENDORSEMENT - INFOPRINT SOLUTIONS COMPANY LLC AND ITS SUBSIDIARIES

| Named Insured | International Business Machines Corporation |
|---------------|-------------------------------------------|
| Endorsement Number | 025 |

| 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:

This endorsement applies solely to the "Named Insured's" ownership interest in InfoPrint Solutions Company, LLC and its subsidiaries.

Section VI. DEFINITIONS, "Insured" is amended to add the following:

Any joint venture, co-venture, joint lease, joint operating agreement, limited liability company or partnership (hereinafter Joint Venture) which is listed in the Schedule of Designated Joint Ventures provided in this endorsement, but only to the extent of the Named Insured's liability arising from the Named Insured's ownership interest.

However, insurance provided by this provision does not apply to "bodily injury", "property damage" or "personal and advertising injury" arising out of an "occurrence" that first takes place before the "Named Insured" acquired, joined or formed the "joint venture".

Solely as respects the coverage provided by this endorsement, subparagraph 1. after "Notwithstanding anything above" in SECTION VII. DEFINITIONS, "Insured" is deleted in its entirety.

MS-275567.10 (3/19)
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