**ENDORSEMENT**

| Policy Symbol and Number | Name of Company | Endorsement Date (Mon, Day, Yr.) | Producer Code No. |
|--------------------------|-----------------|---------------------------------|------------------|
| GLX 120033               | GLOBE INDEMNITY COMPANY | MAY 21, 1967 |  |
| Named Insured            | INTERNATIONAL BUSINESS MACHINES CORPORATION, | Additional Premium | Return Premium |
|                          |                 | $                               | $                |

This endorsement is issued for attachment to and is hereby made a part of the policy designated above, and is effective as of the date indicated, and at the effective hour stated in the policy, standard time at the address of the named insured as stated in the policy.

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**ENDORSEMENT #2**

IN CONSIDERATION OF THE PREMIUM CHARGED, IT IS AGREED THAT THE INSURANCE AFFORDED BY THIS POLICY DOES NOT APPLY TO OPERATIONS OF THE INSURED BASED IN OR EMANATING FROM CANADA. IT IS FURTHER AGREED THAT THIS POLICY SHALL NOT APPLY TO ANY LOSS FOR WHICH COVERAGE IS AFFORDED UNDER GLOBE INDEMNITY COMPANY OF CANADA POLICY NUMBER ELX 120034.

This endorsement is subject to all terms, conditions and exclusions of the policy which are not inconsistent herewith.

CL20030P-200M

Signature of Authorized Representative