# NON-PREMIUM ENDORSEMENT

**Issued by:** City Insurance Company  
**Policy Number:** HEC 9826532  
**Effective Date and Time of Endorsement:** 5-21-80  
**Date Prepared:** 6-2-80  
**Producer:** Johnson & Higgins  

**Name of Insured:** International Business Machines Corp., Etal  
**Policy Expiration:** 5-21-81  
**Producer No.:** 50138-081  

It is agreed that this policy is hereby amended as indicated. All other terms and conditions of this policy remain unchanged.

## ENDORSEMENT TO PRECLUDE PYRAMIDING OF LIMITS

The limits of liability, for any one accident or occurrence and, where applicable, in the aggregate, as specified in Item 3. "Excess Coverage Afforded by this Policy" on the Declarations Page shall be reduced by the sum of the claims payable under this policy and the claims payable under The Home Insurance Company's Policy #HEC 9690581, City Insurance Company's Policy #HEC 9826068. These limits of liability shall be exhausted when the sum of the claims payable under this policy and the claims payable under The Home Insurance Company's Policy #HEC 9690581, City Insurance Company's Policy #HEC 9826068 equal the dollar amounts specified in Item 3. "Excess Coverage Afforded by this Policy" on the Declarations Page.