# Endorsement Issued by American Reinsurance Company

**Endorsement**

**American Reinsurance Company**

**100 Liberty Street**
**New York, NY 10006**

**Richard Michel**

**International Business Machines**

**M-125-76**
**5 21 78**
**1 FROM 5 21 78 TO 5 21 79 ;NIL**

**ADDITIONAL RETURN PREMIUM (-)**
**X CHANGE IN FUTURE INSTALLMENTS INCREASE OR DECREASE (-)**
**AMENDED FUTURE INSTALLMENT**
**NIL**

**DATE OF NEXT INSTALLMENT**

It is understood and agreed that the Named Insured of this Certificate shall read:

International Business Machines Corporation, I. B. M. World Trade Corporation and any other Subsidiary of 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 Corp.

**American Reinsurance Company**

**5/19/78 /cs DATE**

**Counter-signed by:**

**AUTHORIZED REPRESENTATIVE**

**Form CF 022-A.W.Y.-10-77**
**Printed in U.S.A.**