**ENDORSEMENT**

**Effective on and after:** 11-5-70

**Additional Premium:** _______

**Return Premium:** _______

**Standard Time:** _______

**This endorsement forms part of policy No.:** DCI 5911183

**Expiration Date:** _______

**Language to:** INTERNATIONAL BUSINESS MACHINES CORP.

**By:** UNITED STATES OF AMERICA

**OF**

**IN THE EVENT REDUCTION OR EXHAUSTION OF THE AGGREGATE LIMIT OR LIMITS DESIGNATED IN THE UNDERLING POLICY OR POLICIES SOLELY BY PAYMENT OF LOSSES IN RESPECT TO ACCIDENTS OR OCCURRENCES DURING THE PERIOD OF SUCH UNDERLYING POLICY OR POLICIES, IT IS HEREBY UNDERSTOOD AND AGREED THAT SUCH INSURANCE AS IS AFFORDED BY THIS POLICY SHALL APPLY IN EXCESS OF THE REDUCED UNDERLYING LIMIT OR, IF SUCH LIMIT IS EXHAUSTED, SHALL APPLY AS UNDERLYING INSURANCE, NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THE TERM AND CONDITIONS OF THIS POLICY.**

**All other terms and conditions of this policy remain unchanged.**

**AUTHORIZED REPRESENTATIVE:**