# ENDORSEMENT #2
**NAMED INSURED**

International Business Machines Corporation, IBM World Trade Corporation, IBM World Trade Europe/Middle East/Africa Corporation and IBM World Trade Americas/Far East Corporation, IBM Credit Corporation, and any other subsidiary or affiliated corporation provided such other subsidiary or affiliated corporation warrants that it is under the same operative and financial control through the identity of its officers, directors or stockholders and any employee associations thereof and members of employee associations.

It is also agreed that all joint ventures and/or partnerships, are included as insureds, but only respects the interest of the Named Insured.

The company located these documents in its business records. At this time, the company does not certify that these documents constitute a complete and accurate copy of the policy.