**Insured Name:** International Business Machines Corporation

**Policy Number:** ECA1KFW13A0W

**Endorsement No.:** 1

**Effective Date:** May 21, 2013

## SCHEDULE OF FOLLOWED POLICY, PRIMARY POLICIES AND UNDERLYING EXCESS POLICIES

| Type of Coverage | Insurer | Policy Number | Policy Period | Limits of Liability |
|------------------|---------|---------------|---------------|---------------------|
| 1. Occurrence     | ACE Property and Casualty Insurance Company | XOO G27051169 | May 21, 2013 to May 21, 2014 | USD 50,000,000 | Per Occurrence | Annual Aggregate where applicable |
| 2. Occurrence     | Great American Insurance Co. | EXC 4647927 | May 21, 2013 to May 21, 2014 | USD 25,000,000 | Per Occurrence | Annual Aggregate where applicable (excess of item 1, above) |
| 3. Occurrence     | Endurance Specialty Insurance | EXC10000024504 | May 21, 2013 to May 21, 2014 | USD 25,000,000 | Per Occurrence | Annual Aggregate where applicable (excess of item 1 & 2, above) |
| 4. Occurrence     | Liberty International/ Ohlo/ Chubb | 1000040826-12/ECO(14)54088246/79685884 | May 21, 2013 to May 21, 2014 | USD 100,000,000 | Per Occurrence | Annual Aggregate where applicable (excess of item 1, 2 & 3 above) |
| 5. Occurrence     | Argo Re/ Canoplus/ XL / Arch / Great American/QBE | WE1300226/IBM-341/CUBLBSF02-13 BM00026949L113A/UFP0044276-02/EXC 4647938/CCU3967489 | May 21, 2013 to May 21, 2014 | USD 200,000,000 | Per Occurrence | Annual Aggregate where applicable (excess of item 1, 2, 3 & 4 above) |
| 6. Occurrence     | Allied World/Arch | C018124/001 / UFP0055008-00 | May 21, 2013 to May 21, 2014 | USD 50,000,000 | Per Occurrence | Annual Aggregate where applicable (excess of item 1, 2, 3, 4 & 5 above) |