**LIMITATION ENDORSEMENT (PRODUCTS - COMPLETED OPERATIONS)**

IT IS AGREED THAT THE POLICY DOES NOT APPLY TO PERSONAL INJURIES OR TO PROPERTY DAMAGE ARISING OUT OF THE PRODUCTS HAZARD OR THE COMPLETED OPERATIONS HAZARD, EXCEPT INsofar AS COVERAGE IS AVAILABLE TO THE INSURED IN UNDERLYING INSURANCES AS SET FORTH IN THE SCHEDULE OF UNDERLYING INSURANCES AND THEN ONLY IN EXCESS THEREOF.

All other terms and conditions of this insurance remain unchanged.

**John J. Haberle**  
President  
**C. Monfredo**  
Authorized Representative  

IBM-ZRIND 00086