**Johnson & Higgins**
Established 1847

**Insurance Brokers - Average Adjusters**
**Actuaries - Employee Benefit Plan Consultants**

CABLE ADDRESS: KROBEN
TELEX NO: 42506

95 WALL ST., NEW YORK, NY 10005
TEL 402-2000 AREA CODE 212

December 7, 1981

Mr. Richard Faron
Insurance Department
International Business Machines Corporation
Armonk, New York 10504

Dear Dick:

EXCESS UMBRELLA LIABILITY
POLICY #RDX1785610
EXPIRING: MAY 21, 1981

Attached is Endorsement #15 amending Endorsement #5 which changes the Data Processing Exclusion to apply only as respects "the rendering of or failure to render professional services".

I trust you will find the endorsement in good order.

Very truly yours,

Richard T. Michel
Vice President

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