**Arthur J. Gallagher Risk Management Services**
Arthur J. Gallagher & Co. of New York, Inc.

**Kathryn Carroll, CPCU**
Senior Area Vice President

**October 21, 2008**

**Ms. Micheline E. Baker**
Assistant Risk Manager
IBM Corporation
One North Castle Drive, Mail Drop 222
Armonk, NY 10504

**Subject: Vigilant Policy for Excess Liability $25M Each Occurrence/Annual Aggregate Part of $100M excess of $100M; Policy No. 7966-36-84; Policy Period; 3/21/08- 5/21/09; Address Correction Endorsement**

**Dear Micheline:**

We are pleased to deliver the Vigilant Insurance Company endorsement correcting the captioned policy as follows. This endorsement has been checked and found to be correct.

> Addition of “One” to the mailing address for IBM.

Chubb has advised that the SL form of the underlying limits note “Aggregate (where applicable)” and therefore, this aggregate takes into account any aggregate whether general, products or otherwise. There will not be an endorsement needed in order to show the separate Products and Completed Operations aggregate under items 5 and 6a on the Declarations. Further this separate aggregate for Products and Completed Operations is shown by endorsement. The carrier has also confirmed that the OFAC- 00-10-0796- Notice to Policyholders a notice and does not need to be added to the policy.

There are no other outstanding corrections to this policy at this time. A complete copy of this policy was sent to you on this date via email for your electronic files as well. Please review the enclosed endorsement and let me know if you see any need for corrections.

**Sincerely,**

**Kathryn S. Carroll, CPCU**
Sr. Area Vice President

**Enclosure: Address Change Endorsement**

**1281 East Main Street**
Stamford, CT 06902
203.351.8617
Fax 203.351.8601
kathryn_carroll@ajg.com
www.ajg.com