# Excess Insurance Policy

## Liberty Insurance Underwriters Inc.
(A member of Liberty Mutual Group and hereinafter "the Company")

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

**ENDORSEMENT NO. 2**

- **Named Insured:** International Business Machines Corporation
- **Policy Number:** LQ1B71078753072
- **Effective Date:** 5/21/2008

## Crisis Communications Management Insurance Endorsement

It is understood and agreed that this policy shall not be subject to the terms and conditions of Endorsement Form Number, As Per On File With The Company, (Crisis Communications Management Insurance) of Policy Number: 5443148, issued by National Union Fire Insurance Company of Pittsburgh, PA, and under no circumstances shall this Policy provide coverage for Crisis Management Loss as defined herein.

All other terms, conditions and exclusions of the Policy remain unchanged.

By:
- **Authorized Representative**
- **05/22/2008**
- **Issuance Date**

**0200-XS (04 07)**