# Endorsement

**Insurance Company**
Northbrook, Illinois

## International Business Machines Corporation

63 006 596
5

In consideration of the premium charged, it is agreed that Endorsement #1 is deleted in its entirety and replaced with the following:

In consideration of the premium charged it is agreed that coverage under this policy does not apply to any loss arising out of any of the insureds acting as fiduciary or for any loss as a result of a breach of fiduciary responsibilities, obligations or duties as are imposed upon any of the insureds by the Employee Retirement Income Security Act of 1974 or amendments thereto or any regulations as are promulgated thereunder.

This endorsement to take effect on the 21st day of May 1980. All other terms and conditions remain unchanged.

Countersignature Date: May 19, 1980

Authorized Representative: [Signature]

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