# Allied World

**Endorsement No:** 1  
**This endorsement, effective:** May 21, 2016 (at 12:01 A.M. prevailing time at the address of the Named Insured as shown in Item 1(b) of the Declarations)  
**forms a part of Policy No:** C018124/004  
**Issued to:** International Business Machines Corporation

## 4d. Excess Liability

| Ohio Casualty Insurance Company | USD25,000,000 | Each Occurrence |
|---------------------------------|--------------|----------------|
| May 21, 2016 to May 21, 2017    | USD25,000,000 | Products Completed Operations Aggregate General Aggregate |
|                                   | USD25,000,000 | Part of |
|                                   | USD100,000,000 | Each Occurrence |
|                                   | USD100,000,000 | Products Completed Operations Aggregate General Aggregate |
|                                   | USD100,000,000 | (excess of the items listed above) |

## (f.) Companion Policy(ies): Punitive damages wrap-around policy

| Magna Carta Insurance, Ltd. | USD25,000,000 | Each Occurrence |
|----------------------------|--------------|----------------|
| May 21, 2016 to May 21, 2017 | USD25,000,000 | Aggregate (where applicable) |
|                                   | Part of |
|                                   | USD100,000,000 | Each Occurrence |
|                                   | USD100,000,000 | Aggregate (where applicable) |

**Ref:** ACBSF-401c (AWAC Ed. 11/14)

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