# ENDORSEMENT #1

This endorsement, effective 12:01 A.M., MAY 21, 1966 forms a part of policy No. 1991737 issued to INTERNATIONAL BUSINESS MACHINE CORP. by NATIONAL UNION FIRE INSURANCE COMPANY

**NAMED INSURED**

INTERNATIONAL BUSINESS MACHINES CORPORATION, I.B.M. WORLD TRADE CORPORATION, IBM WORLD TRADE EUROPE/MIDDLE EAST/AFRICA CORPORATION AND IBM WORLD TRADE AMERICAS/FAR EAST CORPORATION, IBM CREDIT CORPORATION, ROMI CORPORATION, AND SCIENCE RESEARCH ASSOCIATES, INC., REAL CON COMMUNICATIONS CORP., AND ANY OTHER SUBSIDIARY OR AFFILIATED CORPORATION OWNED SUCH OTHER SUBSIDIARY OR AFFILIATED CORPORATION WARRANTS THAT IT IS UNDER THE SAME OPERATIVE AND FINANCIAL CONTROL THROUGH THE IDENTITY OF ITS OFFICERS, DIRECTORS OR STOCKHOLDERS AND ANY EMPLOYEE ASSOCIATIONS THEREOF AND MEMBERS OF EMPLOYEE ASSOCIATIONS.

IT IS ALSO AGREED THAT ALL JOINT VENTURES AND/OR PARTNERSHIPS ARE INCLUDED AS INSURED, BUT ONLY AS RESPECTS THE INTEREST OF THE NAMED INSURED.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

1/29/87 JL

AUTHORIZED REPRESENTATIVE