# American Zurich Insurance Company

**Endorsement No. 2**

**THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.**

| POLICY NO. | EFF. DATE OF POL. | EXP. DATE OF POL. | EFF. DATE OF END. | PRODUCER | ADD'L PREM. | RETURN PREMIUM |
|------------|-------------------|-------------------|-------------------|-----------|-------------|-----------------|
| EUO        | 5/21/96           | 5/21/97           | 5/21/96           | 18-248    | N/A         | N/A             |

**Named Insured:** INTERNATIONAL BUSINESS MACHINE  
**Address (including ZIP Code):** OLD ORCHARD RD. MAIL DROP 230 ARMONK, NY 10504

## LIMITS OF LIABILITY ENDORSEMENT OF UNDERLYING INSURANCE ENDORSEMENT

It is hereby understood and agreed that Item 5 of the Declaration is amended to read as follows:

The limits of the Company's liability apply in excess of the following limits of liability of underlying insurance:

(A) Per Occurrence: $120,000,000

(B) Aggregate Limits - Separately as respects:
(i) Products Hazard and Completed Operations Hazard Combined: $120,000,000
(ii) All Other Coverages Combined: $120,000,000 (except Auto Liability which is not subject to any aggregate limit)

Which may in turn be excess of various underlying limits or self-insured amounts specified in the governing underlying insurance policy.

**Countersignature:** K. Gregori  
**Authorized Representative**  
**Date:** 6/11/97