# Transatlantic Reinsurance Company

**Effective Date:** MAY 21, 1981  
**Endorsement No.:** 2  
**Page:** 1  
**Certificate No.:** C81-36872  
**Assured:** INTERNATIONAL BUSINESS MACHINES CORP., ZTAL  
**Ceding Company:** NATIONAL UNION FIRE INSURANCE COMPANY  
**Company Policy No.:** 9910600  

It is noted and agreed that this Certificate is hereby amended as indicated below. All other terms and conditions remain unchanged.

**ITEM 3 - CEDING COMPANY RETENTION:**

- **LAYER A:** $2,000,000 P/O $8,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, EXCESS OF $2,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, EXCESS OF UNDERLYING, U.S. DOLLARS
- **LAYER B:** $1,000,000 P/O $5,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, P/O $21,000,000 EACH OCCURRENCE AND IN THE AGGREGATE WHERE APPLICABLE, EXCESS OF $19,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, EXCESS OF UNDERLYING, U.S. DOLLARS
- **LAYER C:** $2,000,000 P/O $15,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, P/O $40,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, EXCESS OF $40,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, EXCESS OF UNDERLYING, U.S. DOLLARS

**ITEM 4 - REINSURANCE ACCEPTED:**

- **LAYER A:** $2,000,000 P/O $2,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, EXCESS OF $2,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, EXCESS OF UNDERLYING, U.S. DOLLARS
- **LAYER B:** $1,500,000 P/O $5,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, P/O $21,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, EXCESS OF $19,000,000 EACH OCCURRENCE AND IN THE AGGREGATE, WHERE APPLICABLE, EXCESS OF UNDERLYING, U.S. DOLLARS

- Additional Premium Due $
- Return Premium Due $
- Future Installments Unchanged
- Future Installments Revised*
- *Due Date Present Installment Increase Decrease Revised Installment

Date prepared: 7/23/81  
M.E.  
Frank Robbins (Authorized Signature)