# Excess Insurance Policy

## Liberty Insurance Underwriters Inc.

**(A Stock Insurance Company, hereinafter the "Insurer")**

**ENDORSEMENT NO. 11**

- **Named Insured:** International Business Machines Corporation
- **Policy Number:** 1000040626-15
- **Effective Date:** 05/21/2016

**NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS.**

**THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.**

**NEW YORK LIABILITY STATE AMENDATORY ENDORSEMENT**

The failure to give notice as prescribed by this policy will not invalidate a claim made by the insured, an insured person, or any other claimant, unless the late notice has prejudiced the insurer, except as provided under NY Insurance Law section 3420(a)(4). With respect to a personal injury or wrongful death claim, if the insurer disclaims liability or denies coverage based on a failure to provide timely notice, then the injured person or other claimant may maintain an action directly against the insurer, on the sole question of late notice, unless the insured or the insurer, within 60 days of the disclaimer, initiates an action to declare the rights of the parties under the policy and names the injured person or other claimant as a party to the action.