# TIE IN OF LIMITS ENDORSEMENT

| Named Insured | International Business Machines Corporation |
|---------------|-------------------------------------------|
| Endorsement Number | 016 |

| Policy Symbol | XOO |
|---------------|-----|
| Policy Number | G27983212 002 |
| Policy Period | 05/21/2017 to 05/21/2018 |
| Effective Date of Endorsement | 05/21/2017 |

Issued By (Name of Insurance Company) | ACE Property and Casualty Insurance Company |

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

This endorsement modifies insurance provided under the following:

**COMMERCIAL UMBRELLA LIABILITY POLICY**

This insurance is amended to include the following additional Condition:

If this insurance and the insurance provided by the policy(ies) listed in the schedule below apply to the same claim, "suit" or "occurrence", the maximum combined limits of insurance available under this policy and the scheduled policy(ies) below for such claim, "suit" or "occurrence" will not exceed:

- $50,000,000 Each Occurrence
- $50,000,000 General Aggregate
- $50,000,000 Products-Completed Operations Aggregate

These limits are the most that will be paid under this policy and the policies listed in the schedule below, combined, for all claims, damages, "losses" or "suits", regardless of any aggregate, per "occurrence", per incident, or per accident limit, or any other limit of liability or limit of insurance in this policy or the scheduled policy.

**SCHEDULE**

| Country of Issuance | Insurer | Policy Number |
|----------------------|---------|---------------|
| Canada               | ACE INA Insurance | XBC 324825 - Umbrella Policy |

Any "loss" paid under the scheduled policy shall reduce by such amount the applicable limit of insurance under this policy. Any claims, damages, "losses" or "suits" seeking coverage under any policy scheduled above may not be brought under this policy. Any claims, damages, "losses" or "suits" seeking coverage under this policy may not be brought under any policy scheduled above.

Nothing in this provision shall serve to increase any applicable limit of insurance of this policy or the scheduled policy.

All other terms and conditions of this policy remain unchanged.

Authorized Representative

XS-33307a (04/15)
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