# NON-PREMIUM ENDORSEMENT

| Date Prepared | Endorsement No. |
|---------------|-----------------|
| 05-18-95      | 5               |

**Issued By**
- Zurich Insurance Company
- Zurich American Insurance Company of Illinois

**Policy Number:** HXLU 037436  
**Certificate Number:**  
**Named Insured:** International Business Machine Corp.

**Producer:** Johnson & Higgins  
**Producer No.:** OPC  
**Producer No.:** 50138-081  

**Policy Period:**
- Inception (Month-Day-Year): 05-21-95  
- Expiration (Month-Day-Year): 05-21-96  
- Effective Date & Time of Endorsement: 05-21-95  

**It is agreed that this policy is hereby amended as indicated. All other terms and conditions of this policy remain unchanged.**

## INSOLVENCY CLAUSE ENDORSEMENT

The underlying insurance listed in the Schedule of Underlying Insurance shall be deemed to be effective to the full extent of the limits stated therein regardless of whether such underlying insurance is in force when the occurrence takes place, regardless of any defense which any of the underlying insurers may assert because of breach or of failure to comply with any condition of any policy and regardless of the inability of any of the underlying insurers to pay by reason of bankruptcy or insolvency.

**Signature of Authorized Representative**

Z22300 F (ST) 11/81