# Endorsement #8

**This Endorsement, Effective:** 12:01 A.M.
**MAY 21, 1999**
**Forms A Part Of**

**Policy Number:** BE 701 41 56
**Issued To:** International Business Machines Corporation

**By:** National Union Fire Insurance Company of Pittsburgh, PA.

## Financial Institutions Endorsement

**This insurance does not apply to:**

1. **Bodily Injury or Property Damage** to or arising out of any property held by or in the care, custody, or control of the Insured while the Insured is acting in any fiduciary capacity;
2. **Property Damage** to money, currency, coin, bank notes, Federal Reserve notes, postage and revenue stamps, U.S. Savings Stamps, bullion, precious metals of all kinds and in any form, articles made from such precious metals, jewelry, watches, necklaces, bracelets, gems, precious and semi-precious stones, bonds, securities, evidences of debts, debentures, script, certificates, receipts, warrants, rights, transfers, coupons, drafts, bills of exchange, acceptances, notes, checks, withdrawal orders, money orders, travelers checks, letters of credit, bills of lading, abstracts of title, insurance policies, deeds, mortgages upon real estate and/or upon chattels and upon interests therein, and assignments of such policies, mortgages and instruments, other valuable papers and documents, and all other instruments similar to or in the nature of the foregoing; or
3. Any damages arising out of any act, error, or omission of any Insured or any agent or sub-agent of any Insured while acting in any fiduciary capacity.

The term "fiduciary capacity" as used in this endorsement shall include, but not by way of limitation:
a. Administrator, executor, trustee under will or personal trust agreement, committee for incompetents, guardian, and agent or sub-agent for any of the foregoing, custodian of securities, manager of real or personal property; or
b. Interest or dividend disbursing agent, paying agent, fiscal agent, transfer agent, registrar, agent for voting trustees, warrant agent, depository, or agent for a committee of holders of stock or securities, escrow agent or in any similar trust capacity, including trustee under a corporate bond indenture, a sinking fund agent or receiver or trustee appointed by any court in receivership, bankruptcy or re-organization proceedings.

**ALL OTHER TERMS AND CONDITIONS OF THIS POLICY REMAIN UNCHANGED.**

**Authorized Representative**  
**Date**