# ENDORSEMENT NO. 1

## FOLLOWING FORM ENDORSEMENT

SUCH INSURANCE AS IS AFFORDED BY THIS POLICY IS FOLLOWING FORM AND EXCESS OF CENTENNIAL INSURANCE COMPANY, HEREINAFTER CALLED "UNDERLYING POLICY". THIS POLICY IS WARRANTED TO THE EXACT TERMS AND CONDITIONS OF THE UNDERLYING POLICY, EXCEPT WITH RESPECT TO LIMITS OF LIABILITY AND PREMIUM AND ALL PREPRINTED TERMS AND CONDITIONS HEREIN ARE DELETED TO THE EXTENT THAT THEY VARY OR ARE INCONSISTENT WITH THE TERMS AND CONDITIONS OF THE UNDERLYING POLICY.

All other terms and conditions remain unchanged

Effective date of this endorsement is: MAY 21, 1982
Attached to and forming part of No.: 6482-5412
Issued to: INTERNATIONAL BUSINESS MACHINES, ET AL
Dated: JUNE 9, 1982
ENDT. #1 By:

NEW HAMPSHIRE INSURANCE CO.
GRANITE STATE INSURANCE COMPANY
PACIFIC STARR OF NEW YORK, INC.
Underwriting Managers