# PUNITIVE DAMAGES LIMITATION

IT IS AGREED THAT THIS POLICY DOES NOT APPLY TO LIABILITY FOR PUNITIVE OR EXEMPLARY DAMAGES UNLESS SUCH LIABILITY IS COVERED BY VALID AND COLLECTIBLE UNDERLYING INSURANCE AS LISTED IN THE SCHEDULE OF UNDERLYING INSURANCE, FOR THE FULL LIMIT SHOWN THEREIN, AND THEN ONLY FOR SUCH HAZARDS FOR WHICH COVERAGE IS AFFORDED UNDER SAID UNDERLYING INSURANCE.

THE EFFECTIVE DATE OF THIS ENDORSEMENT IS MAY 21, 1980 AT NEW YORK, NEW YORK.
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED. POLICY & MLP 10 13 62
THIS ENDORSEMENT IS ATTACHED TO AND MADE A PART OF.

ISSUED TO INTERNATIONAL BUSINESS MACHINES CORPORATION, ETAL
BROKER/AGENT: JOHNSON & HIGGINS
ADDRESS: 95 WALL STREET
NEW YORK, NEW YORK 10005
DATE OF ISSUE 4/29/80 BY cp END. NO. 6