This endorsement, effective 12:01 A.M., May 21, 1979, forms part of policy No. 122 54 07 issued to International Business Machine Corp., et al.

by National Union Fire Insurance Company

It is understood and agreed that this Policy shall not apply to any liability arising out of any act, Error or Omission, or Breach of Duty of any Insured subject to The Employee Retirement Income Security Act of 1974 or Amendments thereto with respect to their duties under any Pension or Employee Benefit Plans.