# ENDORSEMENT NO. 2

IT IS HEREBY UNDERSTOOD AND AGREED THAT CONDITION 1, PRIOR INSURANCE AND NON CUMULATION OF LIABILITY, IS AMENDED TO READ AS FOLLOWS:

**1. PRIOR INSURANCE AND NON CUMULATION OF LIABILITY**

IT IS AGREED THAT IF ANY LOSS COVERED HEREUNDER IS ALSO COVERED IN WHOLE OR IN PART UNDER ANY OTHER EXCESS POLICY, OTHER THAN POLICIES WHICH ARE UNDERLYING TO THIS POLICY, ISSUED TO THE ASSURED PRIOR TO THE INCEPTION DATE HEREOF THE LIMIT OF LIABILITY HEREON AS STATED IN ITEMS 5 AND 6 OF THE DECLARATIONS SHALL BE REDUCED BY ANY AMOUNTS DUE TO THE ASSURED ON ACCOUNT OF SUCH LOSS UNDER SUCH PRIOR INSURANCE.

SUBJECT TO THE FOREGOING PARAGRAPH AND TO ALL THE OTHER TERMS AND CONDITIONS OF THIS POLICY IN THE EVENT THAT PERSONAL INJURY OR PROPERTY DAMAGE ARISING OUT OF AN OCCURRENCE COVERED HEREUNDER IS CONTINUING AT THE TIME OF TERMINATION OF THIS POLICY THE COMPANY WILL CONTINUE TO PROTECT THE ASSURED FOR LIABILITY IN RESPECT TO SUCH PERSONAL INJURY OR PROPERTY DAMAGE WITHOUT PAYMENT OF ADDITIONAL PREMIUM.

All other terms and conditions remain unchanged

Effective date of this endorsement is: MAY 21, 1981

Attached to and forming part of No. 6481-5186

Issued to: INTERNATIONAL BUSINESS MACHINES, ET AL

PACIFIC STARR OF NEW YORK, INC.
Underwriting Managers

Dated: JUNE 17, 1981 ENDT. #2

By:

B/O COPY