# ENDORSEMENT

**NO. 4**

For attachment to Contract No. X-4105 between International Business Machines Corporation, et al and GENERAL REINSURANCE CORPORATION. Effective date of this Endorsement: July 1, 1967.

From 12:01 o'clock A.M. Standard Time of the above effective date it is understood and agreed that the Contract of which this Endorsement forms a part is hereby amended in the following particulars:

It is hereby understood and agreed in the event of reduction or exhaustion of the aggregate limit or limits designated in the underlying policy or policies solely by payment of losses in respect to accidents or occurrences during the period of such underlying policy or policies, it is hereby understood and agreed that such insurance as is afforded by this policy shall apply in excess of the reduced underlying limit or, if such limit is exhausted, shall apply as underlying insurance, notwithstanding anything to the contrary in the terms and conditions of this policy.

Nothing herein contained shall vary, alter or extend any agreement, provision, general condition or declaration of the Contract other than as above stated.

In Witness Whereof, the GENERAL REINSURANCE CORPORATION has caused this Endorsement to be signed by its President and Secretary at New York, New York, but the same shall not be binding upon the Reinsurer unless countersigned by another officer of the Reinsurer.

**N. David Thompson**  
Secretary

**R.L. Bradlock**  
President

Countersigned at New York, New York this 8th day of June, 1967.

GENERAL REINSURANCE CORPORATION

Vice President-Assistant Secretary