**AON**

**VIA ELECTRONIC MAIL**

**August 6, 2015**

**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
ACE Bermuda Insurance Ltd.
Policy No.: IBM-0025/BSF03
Policy Period: May 21, 2015 – May 21, 2016

Dear Ms. Ireland,

We are please to enclose the declarations page, policy form and endorsement nos. 1 to 8 which attach to and forms part of the above captioned policy.

Endt. No. 1 **SCHEDULE OF EXCESS POLICY(IES) ENDORSEMENT**
Eff. May 21/15

Endt. No. 2 **AMENDMENT OF CONDITION 3. (CANCELLATION) ENDORSEMENT**
Eff. May 21/15

Endt. No. 3 **PRIOR INSURANCE AND NON-CUMULATION OF LIMITS ENDORSEMENT**
Eff. May 21/15

Endt. No. 4 **PREMIUM PAYMENT CONDITION ENDORSEMENT**
Eff. May 21/15

Endt. No. 5 **NON-FOLLOWED ENDORSEMENT**
Eff. May 21/15

Endt. No. 6 **FOLLOWING FORM POLICY ISSUANCE ENDORSEMENT**
Eff. May 21/15

Endt. No. 7 **RECEIPT OF FOLLOWED POLICY ENDORSEMENT**
Eff. May 21/15

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