**International Business Machines Corporation**

**Planet Insurance Company**

**Policy Number:** NEA 0109021

**Insured:** International Business Machines Corporation

**by:** Planet Insurance Company

**Effective Date of Endorsement:** 5/21/93 (12:01 A.M. Standard Time)

**Endorsement No.:** 1

**In consideration of the premium charged, it is hereby understood and agreed that Item #1, Named Insured, is amended to include:**

IBM World Trade Corporation, IBM World Trade Europe/Middle East/Africa Corporation, IBM World Trade Americas/Far East Corporation, IBM Credit Corporation and any other subsidiary or affiliated corporation provided such other subsidiary or affiliated corporation warrants that it is under the same operative and financial control through the identity of its officers, director or stockholders and any employee associations thereof and members of employee associations.

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

**DC:bsp 6/8/93**

**Authorized Representative**

**INSURED COPY**