# NON-PREMIUM ENDORSEMENT

**Issued by:** (Type in full name of Insurance Company)
**Endorsement No.: 3**

**CITY INSURANCE COMPANY**
**POLICY NUMBER:** HEC 1 19 84 10
**EFFECTIVE DATE AND TIME OF ENDORSEMENT:** 5/21/81
**PRODUCER:** Johnson & Higgins

**NAMED INSURED:** International Business Machines Corp., Etal.
**DATE PREVIOUS:** 6/12/81
**POLICY EXPIRATION:** 5/21/82
**PRODUCER NO.:** 50138-081

It is agreed that this policy is hereby amended as indicated. All other terms and conditions of this policy remain unchanged.

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**ENDORSEMENT TO PRECLUDE PYRAMIDING OF LIMITS**

The limits of liability, for any one accident or occurrence and, where applicable, in the aggregate, as specified in Item 3. "Excess Coverage Afforded by this Policy" on the Declarations Page shall be reduced by the sum of the claims payable under this policy and the claims payable under (The Home Insurance Company's Policy #HEC9690581). (City Insurance Company's Policy #HEC9826068). These limits of Liability shall be exhausted when the sum of the claims payable under this policy and the claims payable under (The Home Insurance Company's Policy #HEC9690581) (City Insurance Company's Policy #HEC9826068) equal the dollar amounts specified in Item 3. "Excess Coverage Afforded by this Policy" on the Declarations Page.

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**W.J. Bowman**
**SIGNATURE OF AUTHORIZED REPRESENTATIVE**

M22300 FM 4/77