# Endorsement #4

**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.**

On account of the foregoing, the additional premium is $ , the return premium is $ This endorsement shall not be binding upon the company unless countersigned by a duly authorized representative of the company. This endorsement forms a part of the designated policy and applies, unless otherwise stated herein, as of the effective time and date of such policy.

Policy No. LAFS 32 23 issued to INTERNATIONAL BUSINESS MACHINES CORP. BY THE FIDELITY & CASUALTY CO. OF N.Y. Effective MAY 21, 1967 at 12:00 A.M. (Date) (Hour Minute)

COUNTERSIGNED BY R. Beck AUTHORIZED REPRESENTATIVE President

BRANCH OFFICE N.Y.C. 7/19/67 AGENT OR JOHNSON & HIGGINS GENERAL AGENT BROKER (ADDRESS)

ACCOUNTING PREMIUMS BY COMMISSION RATE