# Endurance Specialty Insurance Ltd.

**Waterloo House, 100 Pitts Bay Road, Pembroke HM08, Bermuda**

**Telephone:** 441-278-0400 **Facsimile:** 441-296-1474

**For Claim Matters Only:** Facsimile: 441-296-5151 or excesscasualtyclaims@endurance.bm

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**POLICY NO.:** EXC10000024507  
**RENEWAL OF:** EXC10000024506

## THE BERMUDA SHORTS FORM – 03 (03/14)

### DECLARATIONS

#### Item 1.
a) **Named Insured:** International Business Machines Corporation  
b) **Address of Named Insured:** One New Orchard Road Mail Drop 109 Armonk, NY 10504, USA  

#### Item 2.  
**Policy Period:**  
From: May 21, 2016 at 12:01 am standard time at the address of the Named Insured.  
To: May 21, 2017 at 12:01 am standard time at the address of the Named Insured.  

#### Item 3.  
**Retroactive Date:** Not Applicable  

#### Item 4.
a) **Followed Policy:**  
Company: ACE Property and Casualty Insurance Company  
Policy Number: XOO G27983212 001  
Coverage: Commercial Umbrella Liability Policy  
Policy Period: From: May 21, 2016 To: May 21, 2017  
Limits of Liability: US$ 50,000,000 Each Occurrence  
US$ 50,000,000 General Aggregate  
US$ 50,000,000 Products Completed Operations Aggregate  

b) **Underlying Policy(ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section I - Schedule of Underlying Policy(ies)  

c) **Quota Share Policy(ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section II - Schedule of Quota Share Policy(ies)  

#### Item 5.  
**Limit of Liability:** (Insuring Agreement 2):  
a) US$ 25,000,000 each Occurrence, Claim or Loss  
b) US$ 25,000,000 Aggregate  

#### Item 6.  
**Underlying Limits:** (Insuring Agreement 2):  
a) US$ 75,000,000 each Occurrence, Claim or Loss  
b) US$ 75,000,000 Aggregate  

Which in turn is excess of various insurances and/or retentions as more fully set forth in the Followed Policy  

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**Date of Issuance:** June 13, 2016  
**BSF-03 Declarations (Ed. 03/14)**