# AMENDATORY ENDORSEMENT

| Named Insured | International Business Machines Corporation |
|---------------|-------------------------------------------|
| Endorsement Number | 40 |

| Policy Symbol | XOO |
|---------------|-----|
| Policy Number | G2763848A |
| Policy Period | 05/21/2015 to 05/21/2016 |
| Effective Date of Endorsement | 05/21/2015 |

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:

- COMMERCIAL UMBRELLA LIABILITY POLICY
- ACE CATASTROPHE LIABILITY PLUS POLICY
- EXCESS LIABILITY POLICY
- EXCESS LIABILITY CATASTROPHE POLICY

Effective 05/21/2015, endorsement #31, Retained Limit Amendatory Endorsement - No Underlying Insurance - form MS-9624 (05/12), has been deleted in its entirety and replaced with endorsement #41 - Retained Limit Amendatory Endorsement - No Underlying Insurance - form MS-9624 (05/12).

All other terms and conditions in the policy remain unchanged.

**Authorized Signature**

JOHN J. LUPICA, President