**EMPLOYEE RETIREMENT AND INCOME SECURITY ACT EXCLUSIVE ENDORSEMENT**

IN CONSIDERATION OF THE PREMIUM CHARGED, SUCH INSURANCE AS IS AFFECTION BY THIS POLICY SHALL NOT APPLY WITH RESPECT TO ANY CLAIM OR CLAIMS BROUGHT ABOUT AS A RESULT OF ANY VIOLATION OF ANY RESPONSIBILITIES OR OBLIGATIONS OR DUTIES IMPOSED UPON FIDUCIARIES BY THE EMPLOYEE RETIREMENT AND INCOME SECURITY ACT OF 1974 OR AMENDMENTS THERETO.

THE EFFECTIVE DATE OF THIS ENDORSEMENT IS May 21, 1977 AT 12:01 AM
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.
THIS ENDORSEMENT IS ATTACHED TO AND MADE A PART OF Policy Number ML 65 04 05

ISSUED TO: INTERNATIONAL BUSINESS MACHINES CORP.

BROKER/AGENT: Johnson & Higgins
ADDRESS: 95 Wall Street
New York, New York 10005

DATE OF ISSUE: 5/12/77 BY pf END.NO. 3
BY Jack Shoup