**AON**

**VIA ELECTRONIC MAIL**

**July 16, 2013**

**Ms. Kathleen Ireland**
Risk Manager, IBM CHQ
Global Risk & Insurance Management
International Business Machines Corporation
One New Orchard Road
Armonk, New York 10504
USA

**Re:** International Business Machines Corporation
Arch Insurance (Bermuda)
Policy No.: UFP0044276-02
Policy Period: May 21, 2013 – May 21, 2014

Dear Ms. Ireland,

We are please to enclose the Declarations page, Policy form and Endorsement nos. 1 to 7 which attaches to and forms part of the above captioned policy.

Endt. No. 1
Eff. May 21/13
**SCHEDULE OF UNDERLYING POLICY(IES)**

Endt. No. 2
Eff. May 21/13
**ARBITRATION ENDORSEMENT**

Endt. No. 3
Eff. May 21/13
**CHOICE OF LAW ENDORSEMENT - II**

Endt. No. 4
Eff. May 21/13
**PREMIUM PAYMENT CONDITION**

Endt. No. 5
Eff. May 21/13
**SEVERAL LIABILITY NOTICE**

Endt. No. 6
Eff. May 21/13
**MANUSCRIPT ENDORSEMENT – AMENDMENT OF CONDITION 3 - CANCELLATION**

Endt. No. 7
Eff. May 21/13
**DEFENSE, ASSISTANCE AND COOPERATIONS ENDORSEMENT**

Aon Risk Solutions
Aon House | 30 Woodbourne Avenue | Pembroke HM08 | Bermuda
P.O. Box HM 2020 | Hamilton HM HX | Bermuda
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Aon (Bermuda) Ltd.