# ENDORSEMENT

IN CONSIDERATION of the premium charged, it is understood and agreed that No. 2 UNDERLYING INSURANCE of the Declarations of the Certificate of Excess Insurance to which this Endorsement is attached and of which it forms a part is amended to read as follows:

* **2. UNDERLYING INSURANCE:**
    * (a) American Home Assurance Co.
        * $8,000,000 excluding E. & O.
        * excess of Underlying Insurance shown in Endorsement No. 23245 and amendments thereof attached to the Certificate.
    * (b) Continental Casualty Co.
        * $2,000,000 excluding E. & O. excess of (a) above.
    * (c) General Reinsurance Corp.
        * $5,000,000 excluding E. & O. excess of (a) and (b) above.

IT IS FURTHER UNDERSTOOD that the Schedule of Underlying Insurance shown in Endorsement No. 23245 is amended to include the herein-after mentioned Umbrella Policy and should be shown under heading: INTERNATIONAL BUSINESS MACHINE CORP., ETAL.

**UMBRELLA LIABILITY POLICY**

$2,000,000 A.O.O. in respect of International Business Machines Corp. - including I.B.M.
World Trade Corp. in respect of U.S.A. and Canadian operations; all products Worldwide.
Aircraft & Airport Limb. (France)

This Endorsement shall be effective at and after 12:01 A. M., Standard Time, July 1st, 1964.

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

Attached to and forming part of Certificate of Excess Insurance No. M-7117-0002 issued to INTERNATIONAL BUSINESS MACHINES CORPORATION, ETAL.