**Insured:** International Business Machines Corp.

**Policy No.:** UFP0021773-00

**Endorsement No.:** 1

**Effective Date:** May 21, 2007

## SCHEDULE OF FOLLOWED POLICY, PRIMARY POLICIES AND UNDERLYING EXCESS POLICIES ENDORSEMENT

| Insurer | Policy Details |
|---------|----------------|
| Ohio Casualty Group c/o Great America Insurance Co. of NY | US$ 25,000,000 Per Occurrence part of US$ 100,000,000 Per Occurrence US$ 25,000,000 Annual Aggregate where applicable |
| Policy No.: ECO 53629613-8 | Policy Period: May 21, 2007 to May 21, 2008 |
| Vigilant Insurance Company c/o Chubb Group of Insurance Companies | US$ 25,000,000 Per Occurrence part of US$ 100,000,000 Per Occurrence US$ 25,000,000 Annual Aggregate where applicable |
| Policy No.: 79665684 | Policy Period: May 21, 2007 to May 21, 2008 |
| (excess of Item 1, 2 & 3 above) |

5. Excess Liability
| Insurer | Policy Details |
|---------|----------------|
| Liberty Insurance underwriters Inc. | US$ 25,000,000 Per Occurrence part of US$ 200,000,000 Per Occurrence US$ 25,000,000 Annual Aggregate where applicable |
| Policy No.: LQ1-B71-073-605-070 | Policy Period: May 21, 2007 to May 21, 2008 |
| XL Insurance (Bermuda) Ltd | US$ 100,000,000 Per Occurrence part of US$ 200,000,000 Per Occurrence US$ 25,000,000 Annual Aggregate where applicable |
| Policy No.: BM00022825L107A | Policy Period: May 21, 2007 to May 21, 2008 |
| Berkshire Hathaway International Insurance Limited | US$ 25,000,000 Per Occurrence part of US$ 200,000,000 Per Occurrence US$ 25,000,000 Annual Aggregate where applicable |
| Policy No.: 495580 | Policy Period: May 21, 2007 to May 21, 2008 |
| Endurance Specialty Insurance Ltd. | US$ 25,000,000 Per Occurrence part of US$ 200,000,000 Per Occurrence US$ 25,000,000 Annual Aggregate where applicable |
| Policy No.: P00466 005 | Policy Period: May 21, 2007 to May 21, 2008 |
| (excess of Item 1, 2, 3, & 4 above) |

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