# ENDORSEMENT

Effective from inception, it is hereby understood and agreed that endorsement #3 is cancelled and replaced by the following:

Such insurance as is afforded by this policy, is following form and excess of Centennial Insurance Co. (Policy #462023954) hereinafter called "Underlying Policy". This policy is warranted to the exact terms and conditions of the underlying policy, except with respect to limits of liability and premium and all preprinted terms and conditions herein are deleted to the extent that they vary or are inconsistent with the terms and conditions of the underlying policy.

ALL OTHER TERMS AND CONDITIONS REMAINING UNCHANGED.

Attached to and forming part of policy number MMO-73133 of the Employers Mutual Casualty Company issued to International Business Machines Corp.
Date July 9, 1982