# ENDORSEMENT 82

This endorsement, effective 12:01 A.M., MAY 21, 1986, forms a part of policy No. 1991797 issued to INTERNATIONAL BUSINESS MACHINE CORP. by NATIONAL UNION FIRE INSURANCE COMPANY.

IT IS HEREBY UNDERSTOOD AND AGREED THAT THE LIMITS OF LIABILITY SHALL READ AS FOLLOWS:

(A) $5,000,000 EACH OCCURRENCE AND IN THE AGGREGATE WHERE APPLICABLE EXCESS OF $20,000,000 EACH OCCURRENCE AND IN THE AGGREGATE WHERE APPLICABLE WHICH IN TURN IS EXCESS OF PRIMARY.

PREMIUM: 241,800 (U.S. DOLLARS)

(B) $10,000,000 EACH OCCURRENCE AND IN THE AGGREGATE WHERE APPLICABLE PART OF $25,000,000 EACH OCCURRENCE AND IN THE AGGREGATE WHERE APPLICABLE EXCESS OF $25,000,000 EACH OCCURRENCE AND IN THE AGGREGATE WHERE APPLICABLE WHICH IN TURN IS EXCESS OF PRIMARY.

PREMIUM: 338,520 (U.S. DOLLARS)

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

AUTHORIZED REPRESENTATIVE

1/29/87 JL