# ENDORSEMENT # 3

## 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 Corporation, IBM Credit Corporation, and any other subsidiary or affiliated corporation warrants that it is under the same operative and financial control through the indentity 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 insured, but only respects the interest of the Named Insured.

This endorsement to take effect on the 21st day of May, 1990.
All other items and conditions remain unchanged.

Attached to and forming part of Policy No. EN 0000405 of NEW ENGLAND INSURANCE COMPANY.

Issued to: IBM

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.