# EXCESS LIABILITY POLICY

**178447-3-90** **NAMED INSURED**

The Named Insured on the Declarations page is completed to read as follows:

**INTERNATIONAL BUSINESS MACHINES CORPORATION**

AND ANY OTHER SUBSIDIARY OR AFFILIATED CORPORATION, PROVIDED SUCH OTHER SUBSIDIARY OR CORPORATION WARRANTS THAT IT IS UNDER THE SAME OPERATIVE AND FINANCIAL CONTROL THROUGH THE IDENTITY OF ITS OFFICERS, DIRECTOR OR STOCKHOLDERS AND ANY EMPLOYEE ASSOCIATIONS THEREOF AND MEMBERS OF EMPLOYEE ASSOCIATIONS.

IT IS ALSO AGREED THAT ALL JOINT VENTURES AND/OR PARTNERSHIPS ARE INCLUDED AS INSUREDS BUT ONLY AS RESPECTS THEIR LIABILITY ARISING OUT OF THESE JOINT VENTURES OR PARTNERSHIPS.

All other terms and conditions of this policy remain unchanged.

This endorsement must be attached to Change Endorsement when issued after the Policy is written.

One of the Fireman's Fund Insurance Companies as named in the policy

178447-3-90