# ENDORSEMENT #0015

**THIS ENDORSEMENT, EFFECTIVE 12:01 A.M. MAY 21, 1993**

**FORMS A PART OF POLICY NO. BE 308-61-20**

**ISSUED TO:** INTERNATIONAL BUSINESS MACHINES CORPORATION

**BY:** NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA.

## FINANCIAL INSTITUTIONS ENDORSEMENT

IN CONSIDERATION OF THE PREMIUM CHARGED AND NOTWITHSTANDING ANYTHING CONTAINED IN THIS POLICY TO THE CONTRARY, IT IS UNDERSTOOD AND AGREED THAT SUCH COVERAGES AS IS AFFORDED BY THIS POLICY SHALL NOT APPLY TO:

**(A)** PERSONAL INJURY OR PROPERTY DAMAGE ARISING OUT OF THE OWNERSHIP, MAINTENANCE, OPERATION, USE, LOADING OR UNLOADING OF ANY AIRCRAFT OR WATERCRAFT IN WHICH THE INSURED HAS ANY FINANCIAL INTEREST;

**(B)** PERSONAL INJURY OR PROPERTY DAMAGE TO OR ARISING OUT OF ANY PROPERTY HELD BY, OR IN THE CARE, CUSTODY OR CONTROL OF THE INSURED WHILE THE INSURED IS ACTING IN ANY FIDUCIARY CAPACITY EXCEPT FORECLOSED PROPERTIES;

**(C)** PROPERTY DAMAGE TO MONEY, CURRENCY, COIN, BANK NOTES, FEDERAL RESERVE NOTES, POSTAGE AND REVENUE STAMPS, U.S. SAVINGS STAMPS, BULLION, PRECIOUS METALS OF ALL KINDS, AND IN ANY FORM AND ARTICLES MADE FROM SUCH PRECIOUS METALS, JEWELRY, WATCHES, NECKLACES, BRACELETS, GEMS, PRECIOUS AND SEMI-PRECIOUS STONES, BONDS, SECURITIES, EVIDENCES OF DEBTS, DEBENTURES, SCRIPT, CERTIFICATES, RECEIPTS, WARRANTS, RIGHTS, TRANSFERS, COUPONS, DRAFTS, BILLS OF EXCHANGE, ACCEPTANCES, NOTES, CHECKS, WITHDRAWAL ORDERS, MONEY ORDERS, TRAVELERS CHECKS, LETTERS OF CREDIT, BILLS OF LADING, ABSTRACTS OF TITLE, INSURANCE POLICIES, DEEDS, MORTGAGES UPON REAL ESTATE AND/OR UPON CHATTELS AND UPON INTERESTS THEREIN, AND ASSIGNMENTS OF SUCH POLICIES, MORTGAGES AND INSTRUMENTS, AND OTHER VALUABLE PAPERS AND DOCUMENTS, AND ALL OTHER INSTRUMENTS SIMILAR TO OR IN THE NATURE OF THE FOREGOING;

**(D)** ANY DAMAGES ARISING OUT OF ANY ACT, ERROR, OR OMISSION OF ANY INSURED OR ANY AGENT OR SUB-AGENT OF ANY INSURED WHILE ACTING IN ANY FIDUCIARY CAPACITY.

THE TERM FIDUCIARY CAPACITY AS USED IN THIS ENDORSEMENT SHALL INCLUDE, BUT NOT BY WAY OF LIMITATION:

1. ADMINISTRATOR, EXECUTOR, TRUSTEE UNDER WILL OR PERSONAL TRUST AGREEMENT, COMMITTEE FOR INCOMPETENTS, GUARDIAN, AND AGENT OR SUB-AGENT FOR ANY OF THE FOREGOING, CUSTODIAN OF SECURITIES, MANAGER OF REAL OR PERSONAL PROPERTY; OR

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