# Transatlantic Reinsurance Company

**Effective Date:** MAY 2, 1981  
**Endorsement No.:** 2 (CON'T) PG: 2  
**Assured:** INTERNATIONAL BUSINESS MACHINES CORP., EXAL  
**Certificate No.:** C81-36872  
**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 4 - REINSURANCE ACCEPTED:**

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

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

Date prepared: 7/21/81  
M.E. FRANK ROBBINS  
(Authorized Signature)