# Allied World Assurance Company

**Endorsement No:** 1  
**This endorsement, effective:** May 21, 2014 (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:** C018124/002  
**Issued to:** International Business Machines Corporation

## SCHEDULE OF UNDERLYING POLICY(IES)

| Type of Coverage | Insurer | Policy Period | Limits of Liability |
|------------------|---------|---------------|---------------------|
| 1. Commercial Umbrella Liability | ACE Property & Casualty Insurance Company | May 21, 2014 to May 21, 2015 | USD50,000,000 | Each Occurrence |
|                       |         |               | USD50,000,000 | Products Completed Operations Aggregate General Aggregate |
|                       |         |               | USD50,000,000 | Products Completed Operations Aggregate General Aggregate (excess of the items listed above) |

| 2. Excess Liability | Great American Insurance Company of New York | May 21, 2014 to May 21, 2015 | USD25,000,000 | Each Occurrence |
|                      |         |                         | USD25,000,000 | Products Completed Operations Aggregate General Aggregate (excess of the items listed above) |

| 3. Excess Liability | Endurance Specialty Insurance Ltd | May 21, 2014 to May 21, 2015 | USD25,000,000 | Each Occurrence |
|                     |                                     |                             | USD25,000,000 | Products Completed Operations Aggregate General Aggregate (excess of the items listed above) |

Ref: ACBSF-401  
(AWAC Ed. 02/09)  
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