**125 Broad Street**
**New York, N.Y. 10004-2424**
**212 574 7000**

**Cable Address "KERODEN"**
**Telex No. 6720134 JANHNY UW**

**JOHNSON & HIGGINS Established 1845**

**December 31, 1991**

**Mr. Chris Tiberio**
**Insurance Department**
**International Business Machines Corporation**
**2000 Purchase - Room 3H-08**
**Purchase, NY 10577**

**COMMERCIAL GENERAL LIABILITY**
**POLICY NO.: GLO6347607**
**EFFECTIVE: MAY 21, 1989 TO MAY 21, 1992**

**Dear Chris:**

In accordance with our recent telephone conversation, attached is Endorsement No. 37 effective May 21, 1989 deleting the "Batch Clause" from the captioned contract. As you recall from our conversation, it was felt that this would be best in the best interest of IBM. This wording is not found in the excess policies and it created a "swiss cheese" effect in your program.

Secondly, because your program is on a matching deductible basis and the General Aggregate is the same as the each occurrence limit, there was no advantage to specifically having the policy endorsed to provide "Batch Clause" protection.

I trust you will find the attached in order and ask that you contact me, should you have any questions.

Very truly yours,

**Richard T. Michel**
**Vice President**

**RTM2/cd**

**A Partner In UNISON**
**IBM 063154**