# ENDORSEMENT

**This endorsement, effective:** 12:01 A.M., May 21, 1978  
**Policy No.:** 122 95 79  
**Issued to:** International Business Machine Corp., et al.  
**By:** National Union Fire Insurance Company

In consideration of the premium charged, it is understood and agreed that such coverage as is afforded by this policy shall not apply to PERSONAL INJURY or PROPERTY DAMAGE arising out of the PRODUCTS OR COMPLETED OPERATIONS HAZARD.