# ENDORSEMENT #0015

**THIS ENDORSEMENT EFFECTIVE 12:01 A.M. 05/21/91 FORMS A PART OF POLICY NO. 308-31-33 ISSUED TO INTERNATIONAL BUSINESS MACHINES CORP. BY NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA.**

THE TERM FIDUCIARY AS USED IN THIS ENDORSEMENT SHALL INCLUDE, BUT NOT BY WAY OF LIMITATION:

1. ADMINISTRATOR, EXECUTOR, TRUSTEE UNDER WILL OR PERSONAL TRUST AGREEMENT, COMMITTEE FOR INCOMPETENTS, GUARDIAN; AND AGENT OR SUB-AGENT FOR ANY OF THE FOREGOING; CUSTODIAN OF SECURITIES, MANAGERS OF REAL OR PERSONAL PROPERTY.

2. INTEREST OR DIVIDEND DISBURSING AGENT, PAYING AGENT, FISCAL AGENT, TRANSFER AGENT, REGISTRAR, AGENT FOR VOTING TRUSTEES, WARRANTS AGENT DEPOSITORY, OR AGENT FOR A COMMITTEE OF HOLDERS OF STOCK OR SECURITIES, ESCROW AGENT OR IN ANY SIMILAR TRUST CAPACITY, INCLUDING TRUSTEE UNDER A CORPORATE BOND INDENTURE, A SINKING FUND AGENT OR RECEIVER OR TRUSTEE APPOINTED BY ANY COURT IN RECEIVERSHIP, BANKRUPTCY OR REORGANIZATION PROCEEDINGS.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

**AUTHORIZED REPRESENTATIVE**
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**INSURED'S COPY**