# ENDORSEMENT

Effective from inception, May 21, 1978, 12:01 A.M. Standard Time, it is understood and agreed that Item 1 - Named Assured is amended as follows:

**Named Assured:**

International Business Machines Corporation, I.B.M. World Trade 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, directors or stockholders and any employee associations thereof.

It is also agreed that the joint venture known as 425 Market Street Associates is also included but only as respects the interest of International Business Machines Corporation.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

Attached to and forming part of policy number MMO-70303 of the EMPLOYERS MUTUAL CASUALTY COMPANY issued to INTERNATIONAL BUSINESS MACHINES CORPORATION

MUTUAL MARINE OFFICE, NY Date APRIL 19, 1979