# ENDORSEMENT

**Policy No:** 122 96 79  
**Issued To:** International Business Machines Corp., etal.  
**Effective Date:** May 21, 1978  
**Effective Time:** 12:01 A.M.  
**Form:** 1803

**By:** National Union Fire Insurance Company

In consideration of the premium charged, it is understood and agreed that the Company's Limit of Liability is limited to its participation in the following layers:

- **"Layer A"**
  - $8,000,000 excess of $2,000,000 excess of primary - $201,600.

- **"Layer B"**
  - $5,000,000 part of $21,000,000 excess of $19,000,000 - $14,400.

- **"Layer C"**
  - $5,000,000 part of $40,000,000 excess of $40,000,000 - $9600.

- **"Layer D"**
  - $2,000,000 part of $45,000,000 excess od $130,000,000 - $1920.

**Authorized Representative:** [Signature]