# Endorsement

**THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.**

| POLICY NO. | EFF. DATE OF POL. | EXP. DATE OF POL. | EFF. DATE OF END. | AGENCY NO. | ADD'L PREM. | RETURN PREM. |
|------------|-------------------|------------------|------------------|------------|-------------|--------------|
| GLO63-47-605-00 | 5/21/89 | 5/21/92 | 5/21/89 | 50-515 |  |  |

**Named Insured:** INTERNATIONAL BUSINESS MACHINE CORP.

**Address (including ZIP Code):**

This endorsement modifies insurance provided by the following:

**COMMERCIAL GENERAL LIABILITY**

IT IS HEREBY AGREED THAT EMPLOYEE BENEFITS LIABILITY FORM U-GL-264 A, EXCLUSION E. IS DELETED AND REPLACED BY

"TO ANY CLAIM BASED UPON ADVICE GIVEN BY AN INSURED TO PARTICIPATE OR NOT TO PARTICIPATE IN STOCK SUBSCRIPTION PLANS".

JOHNSON & HIGGINS  
RV:j13/16/90

Countersigned  
**Authorized Representative**

U-GL-113-B CW (4-89)  
IBM 063139