**EMPLOYEE RETIREMENT AND INCOME SECURITY ACT**

**EXCLUSION ENDORSEMENT**

IN CONSIDERATION OF THE PREMIUM CHARGED, SUCH INSURANCE AS IS AFFORDED BY THIS POLICY SHALL NOT APPLY WITH RESPECT TO ANY CLAIM OR CLAIMS BROUGHT ABOUT AS A RESULT OF ANY VIOLATION OF ANY RESPONSIBILITIES, OBLIGATIONS OR DUTIES IMPOSED UPON FIDUCIARIES BY THE EMPLOYEE RETIREMENT AND INCOME SECURITY ACT OF 1974 OR AMENDMENTS THERETO.

THE EFFECTIVE DATE OF THIS ENDORSEMENT IS MAY 21, 1980 AT NEW YORK, NEW YORK.
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.
THIS ENDORSEMENT IS ATTACHED TO AND MADE A PART OF POLICY # ML 65 22 92

ISSUED TO INTERNATIONAL BUSINESS MACHINES CORP., ETAL
BROKER/AGENT JOHNSON & HIGGINS
ADDRESS 95 WALL STREET
NEW YORK, NEW YORK 10005
DATE OF ISSUE 4/23/80 BY bw END. NO. 3
BY Albert Conde