**Endorsement #1**

| POLICY NO. | EFF. DATE OF POL. | EFF. DATE OF END. | AGENCY NO. | ADD'L PREMIUM $ | RETURN PREMIUM $ |
|-----------|------------------|------------------|------------|-----------------|-------------------|
| 87-460303  |                   |                   |            |                 |                   |

**Named Insured**

This endorsement is issued by the company named below, which is the insurer under the policy designated above and is issued to the Named Insured and forms a part of said policy as of the effective date hereof, at the hour stated in the policy Declarations.

**NAMED INSURED:**

INTERNATIONAL BUSINESS MACHINES CORPORATION IBM WORLD TRADE CORP., AND ANY OTHER SUBSIDIARY OR AFFILIATED CORPORATION OF EACH 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.

**Countersigned:**

- Zurich Insurance Company
- American Guarantee and Liability Insurance Company

**Signatures:**

- Joyce Cits
- [Other signatures]