**AON**

VIA ELECTRONIC MAIL

October 20, 2016

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  
Aspen Bermuda Limited  
Policy No.: ECA1KFW16A0W  
Policy Period: May 21, 2016 – May 21, 2017  

Dear Ms. Ireland,

We are pleased to enclose the declarations page, policy form and endorsement nos. 1 to 3 which attach to and form part of the above captioned policy. The endorsements are listed below:

- Endt. No. 1  
  SCHEDULE OF EXCESS POLICY(IES)  
  Eff. May 21/16  

- Endt. No. 2  
  SEVERAL LIABILITY FOR QUOTA SHARE COVERAGE  
  Eff. May 21/16  

- Endt. No. 3  
  CANCELLATION AMENDATORY ENDORSEMENT  
  Eff. May 21/16  

Please refer to the actual endorsement for exact terms and conditions.

We trust that you will find the attached to be in good order; however, should you have any questions please do not hesitate to contact our offices.

Sincerely,

Chris Heimicke  
Senior Vice President  

CH/jr  

Encl.  

cc: Nick Moore – Aon Risk Services, Inc. of New York  

Aon Risk Solutions  
Aon House | 30 Woodbourne Avenue | Pembroke HM08 | Bermuda  
P.O. Box HM 2020 | Hamilton HM HX | Bermuda  
t +1.441.295.2220 | d +1.441.278.1213 | f +1.441.292.3244 | aon.com  
Aon (Bermuda) Ltd.