**HAMED INSURED**

International Business Machines Corporation,
I.B.M., World Trade Corp., and any other
subsidiary or affiliated Corporation of each
provided such other subsidiary or affiliated
Corporation warrants that it is under the same
operative and financial control through the
indemnity of its officers, directors or
stockholders.

This endorsement, which forms a part of and is for attachment to the following described policy issued by the company designated therein, takes effect on the effective date of said policy, unless another effective date is shown below, at the hour stated in said policy and expires concurrently with said policy.