**Endorsement No:** 1

**Name of Assured:** INTERNATIONAL BUSINESS MACHINES CORP., ITALIA

**Additional Premium:** [Not specified]

**It is hereby understood and agreed that the above named insured is amended as follows:**

INTERNATIONAL BUSINESS MACHINES CORPORATION, I.B.M./WORLD TRADE CORPORATION AND ANY OTHER SUBSIDIARY OR AFFILIATED CORPORATION PROVIDED SUCH OTHER SUBSIDIARY OR AFFILIATED CORPORATION WARRANTS THAT IT IS UNDER THE SAME OPERATIVE AND FINANCIAL CONTROL THROUGH THE IDENTICAL OFFICERS, DIRECTORS OR STOCKHOLDERS AND ANY EMPLOYEE AS CORPORATIONS THEREOF.

IT IS ALSO AGREED THAT THE JOINT VENTURE KNOWN AS 425 MARKET STREET ASSOCIATES IS ALSO INCLUDED BUT ONLY AS RESPECTS THE INTEREST OF INTERNATIONAL BUSINESS MACHINES CORPORATION.

Nothing herein contained shall be held to vary, alter, waive or change any of the terms, limits or conditions of the Policy, except as hereinabove set forth.

This endorsement is effective MAY 21, 1978

Attached to and forming part of Policy No. 75-100649 of the A.I.U. INSURANCE COMPANY

W/BS/LL