**Johnson & Higgins**

Broad Street
York, New York 10004
212-574-7000
Cable Address "KERODEN"
Telex No. 6720134 JANHNY UW

**Binder of insurance Endorsements**

| DIARY DATE | 0 |
|------------|---|
| SER UNIT   |   |
| IN BILLING |   |

**To:** International Business Machines Corporation  
2000 Purchase Street  
Purchase, New York 10577  

**Attention:** Patrick J. Noone  
Insurance Dept.

**The following changes in the policies listed below are hereby bound.**

**Effective:** May 21, 1987

The premium under Zurich Insurance Co. Comprehensive General Liability Policy #CGL3278678 for the period 5/21/87 to 5/21/88 is $5,900,000.

* Limit of Liability increased to $5,000,000 each occurrence/aggregate where applicable C.S.L.

See Page 2

**Named Insured:** International Business Machines Corp., Etal  
Policy Numbers:  
CGL3278678  
5/21/84-89

**Underwriters:** Zurich Ins. Co., 44 Wall St., 15th Fl. - Owkie Kwik  
Accepted by: **Owkie Kwik**  
Date: 5/21/87  
Hour: A.M.  
P.M.

Accepted by:  
Date:  
Hour:  
A.M.  
P.M.

**OK**  
**TO**  
**PROCESS**  
**PER**  
**A/ADJ**  
**5/21/87**

**3901/rc**  
**Page 1 of 2 pages**  
**Richard T. Michel**

**MM 009654**