# American Zurich Insurance Company

**Endorsement No. 2**

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

| POLICY NO. | EFF. DATE OF POL. | EXP. DATE OF POL. | EFF. DATE OF END. | PRODUCER | ADD'L PREMIUM | RETURN PREMIUM |
|------------|-------------------|-------------------|-------------------|----------|---------------|----------------|
| EUO 8481810-02 | 05/21/97 | 05/21/98 | 05/21/97 | 18-248 | N/A | N/A |

**Named Insured:** International Business Machines Corp.

**Address (including ZIP Code):** Old Orchard Road<br>Mail Drop 230<br>Armonk, NY 10504

**UNDERLYING LIMITS OF LIABILITY ENDORSEMENT**

It is hereby understood and agreed that Item 5 of the Declarations is amended to read as follows:

The limits of the company's liability apply in excess of the following limits of liability of underlying insurance:

(A) Per Occurrence: $120,000,000

(j) Aggregate Limits-Separately as respects:<br>
(i) Products Hazard and Completed Operations Hazard Combined: $120,000,000<br>
(ii) All Other Coverages Combined: $120,000,000 (except Auto Liability which is not subject to any aggregate limit)

Which may in turn be excess of various underlying limits or self-insured amounts specified in the governing underlying insurance policy.

**Countersigned:** K. Greagoli<br>**Authorized Representative**<br>**Date:** 9/2/97