### EXCLUSION:

a. The insurance afforded by this endorsement shall not apply to any claim hereunder unless such liability is covered by valid and collectible underlying insurance as described herein, and then only for such hazards for which coverage is afforded under said underlying insurance.

b. The insurance afforded by this endorsement shall not apply as respects any claim made against the Insured which is based upon the Employee Retirement Income Security Act of 1974, Public Law 93-406, commonly referred to as the Pension Reform Act of 1974, and Amendments thereto, or similar provisions of any Federal, State or Local Statutory Law or Common Law.

**Carrier**

**Limits of Liability**

Each Claim: $ ________

Aggregate: $ ________

CARRIER AND LIMITS OF LIABILITY AS PER ITEMS # 3 AND 4 OF FORM S10002F.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

THE ENDORSEMENT IS ATTACHED TO AND MADE A PART OF POLICY NO. X858073

OF THE MISSION INSURANCE COMPANY

ISSUED TO: INTERNATIONAL BUSINESS MACHINES CORP., ETAL (SEE ENDORSEMENT)

DATED AT: NEW YORK, NEW YORK

DATE: MAY 27, 1980

:bp

SAYRE & TOSO, INC.

BY: [Signature]