# EXCESS LIABILITY POLICY

178447-3-90 NAMED INSURED

The Named Insured on the Declarations page is completed to read as follows:

INTERNATIONAL BUSINESS MACHINES CORPORATION
IBM WORLD TRADE CORPORATION
IBM WORLD TRADE EUROPE/MIDDLE EAST/AFRICA CORPORATION
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, DIRECTOR OR STOCKHOLDERS AND ANY EMPLOYEE ASSOCIATIONS THEREOF AND MEMBERS OF EMPLOYEE ASSOCIATIONS.

All other terms and conditions of this policy remain unchanged.

This endorsement must be attached to Change Endorsement when issued after the Policy is written.

One of the Fireman's Fund Insurance Companies as named in the policy