**Named Insured:** International Business Machines Corporation

**Policy Number:** ECA1KFW16A0W

**Endorsement No.:** 1

**Effective Date:** May 21, 2016

**SCHEDULE OF EXCESS POLICY(IES) (Continued)**

| 4d Occurrence | Liberty Insurance Underwriters Inc. May 21, 2016 to May 21, 2017 | USD 25,000,000 | USD 25,000,000 | Per occurrence | Annual Aggregate when applicable (excess of items 1, 2 & 3 above) |
| --- | --- | --- | --- | --- | --- |
| 4d Punitive | Magna Carta Insurance, Ltd. May 21, 2016 to May 21, 2017 | USD 25,000,000 | USD 25,000,000 | Per occurrence | Annual Aggregate when applicable (excess of items 1, 2 & 3 above) |
| 5a Occurrence | Great American Assurance Co. May 21, 2016 to May 21, 2017 | USD 25,000,000 | USD 25,000,000 | Per Occurrence | Annual Aggregate when applicable (excess of items 1, 2, 3 & above) |
| 5a Punitive | GAI Insurance Company, Ltd. May 21, 2016 to May 21, 2017 | USD 25,000,000 | USD 25,000,000 | Per Occurrence | Annual Aggregate when applicable (excess of items 1, 2, 3 & above) |
| 5b Occurrence | QBE Insurance Corporation May 21, 2016 to May 21, 2017 | USD 25,000,000 | USD 25,000,000 | Per Occurrence | Annual Aggregate when applicable (excess of items 1, 2, 3 & above) |
| 5b Punitive | QBE Insurance (Europe) Limited May 21, 2016 to May 21, 2017 | USD 25,000,000 | USD 25,000,000 | Per Occurrence | Annual Aggregate when applicable (excess of items 1, 2, 3 & above) |
| 5c Occurrence | Allied World Assurance Company, AG May 21, 2016 to May 21, 2017 | USD 25,000,000 | USD 25,000,000 | Per Occurrence | Annual Aggregate when applicable (excess of items 1, 2, 3 & above) |
| 5d Occurrence | Argo Re May 21, 2016 to May 21, 2017 | USD 25,000,000 | USD 25,000,000 | Per Occurrence | Annual Aggregate when applicable (excess of items 1, 2, 3 & above) |