# ENDORSEMENT

**Date Issued:** 05/25/94  
**Endorsement No.:** 1  
**Insured:** INTERNATIONAL BUSINESS MACHINES CORP., ETAL  
**Policy No.:** (95) 7908-98-98  
**Name of Company:** FEDERAL INSURANCE COMPANY  
**Effective Date:** 05/21/94  
**Producer:** JOHNSON & HIGGINS  

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It is agreed that the premium charged is payable as follows:

- **United States Fund:** $62,262  
- **Canadian Fund:** $2,238 (U.S. Currency)  
- **Total Premium:** $64,500  

Johnson & Higgins, Ltd.  
Place Victoria, Suite 2300  
Montreal, Quebec H4Z1E2  

shall be deemed to be producer of record as regards Canadian exposures and premium.

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**CANADIAN ENDORSEMENT**

All Other Terms and Conditions Remain Unchanged.

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**Date:**  
**Authorized Representative:**

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**ENDORSEMENT**  
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Form 99-02-02 (Rev. 8-71)