# Endorsement No: 1

**This endorsement, effective:** May 21, 2012 (at 12:01 A.M. prevailing time at the address of the Named Insured as shown in Item 1(b) of the Declarations)

**forms a part of Policy No:** ISO0000881

**Issued to:** International Business Machines Corporation Iron-Starr Excess Agency Ltd.

## SCHEDULE OF UNDERLYING POLICIES (cont’d)

| Type of Coverage | Insurer | Policy Number | Policy Period | Limits of Liability |
|------------------|---------|---------------|---------------|---------------------|
| Excess Liability | QBE Insurance Corporation | CCU3967489 | May 21, 2012 – May 21 2013 | USD 25,000,000 Each Occurrence<br>USD 25,000,000 Annual Aggregate (where applicable)<br>USD 25,000,000 Products Completed Operations Aggregate<br>Part of USD 50,000,000 (excess of items 1- 5, above) |

All other terms, conditions, limitations and exclusions of this Policy remain unchanged.

**Authorized Representative**

Date of Issuance: June 14, 2012  
ISEABSF (06/10)  
1 ISEABSF Schedule of Underlying(with quota share).doc