This endorsement effective forms part of Policy No. EX-8154-014

Issued to EFFECTIVE FROM INCEPTION DATE OF POLICY by the insurance company indicated below by an "X".

EMPLOYERS COMMERCIAL UNION ☐ AMERICAN EMPLOYERS INSURANCE COMPANY ☐ THE EMPLOYERS FIRE INSURANCE COMPANY ☐ THE PENNSYLVANIA INSURANCE COMPANY

It is agreed that Item #1, Insured, shall read as follows:

International Business Machines Corporation, I.B.M. World Trade Corp., The Service Bureau 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.

End. #1

Authorized Representative