**American International Reinsurance Company, Ltd.**

27 Richmond Road
Pembroke, HM08
Bermuda

**POLICY NO.:** 60703940
**NEW BUSINESS/RENEWAL OF:** 60703940

**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:** None

**Item 4.**
- **a) Followed Policy:**
  - **Company:** ACE Property & Casualty Insurance Company
  - **Policy Number:** XOO G27983212 001
  - **Coverage:** Lead Umbrella - Occurrence
  - **Policy Period:** From: May 21, 2016 To: May 21, 2017
  - **Limits of Liability:**
    - USD 50,000,000 Each Occurrence
    - USD 50,000,000 General Aggregate
    - USD 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) USD 50,000,000 each Occurrence, Claim or Loss
  - b) USD 50,000,000 Aggregate

**Item 6.** **Underlying Limits:**
- **(Insuring Agreement 2):**
  - a) USD 650,000,000 each Occurrence, Claim or Loss
  - b) USD 650,000,000 Aggregate

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

**Page 1 of 9**

**AMERICAN INTERNATIONAL REINSURANCE COMPANY, LTD.**

27 Richmond Road
Pembroke, HM08
Bermuda

©AIG, Inc. All rights reserved.