# ENDORSEMENT NO. 27

This endorsement, effective 12:01 AM: May 21, 2008

Forms a part of policy no.: 5443148

Issued to: INTERNATIONAL BUSINESS MACHINES CORPORATION

By: NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA.

**AMENDATORY ENDORSEMENT**

It is agreed that Endorsement No. 18, Non-Pyramiding of Limits Endorsement is deleted in its entirety and replaced with Endorsement No. 28.

**NOTICE:** THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE. All other terms, conditions, and exclusions of the policy remain unchanged. MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS. 2 - 13000

Authorized Representative or countersignature (where required by law)