**XL House**
One Bermudiana Road
Hamilton HM 08
PO Box HM 2245
Hamilton HM J X
Bermuda
Tel: (441) 292-8515
Fax: (441) 292-1566
www.xlinsurance.com

June 10, 2011
VIA ELECTRONIC MAIL

Ms. Tiajuana Sewell
Aon (Bermuda) Ltd.
Aon House
30 Woodbourne Avenue
Pembroke HM 08
Bermuda

Dear Tiajuana:

Re: INTERNATIONAL BUSINESS MACHINES CORPORATION
POLICY NO. BM00025502L111A

Enclosed please find our The Bermuda Shorts Form Policy -- Occurrence, and the following Endorsement(s), for attachment to the above Policy:

End. 1 - Schedule of Excess Policies
End. 2 - Several Liability Notice Endorsement
End. 3 - Arbitration Endorsement
End. 4 - Choice of Law Endorsement II
End. 5 - Premium Payment Condition Endorsement

We trust that you will find these policy documents in order; if not, please contact Vivienne Moniz at 294-7749.

Yours sincerely,

Patricia Swan
Policy Administrator

Enc.

Sent: June 10, 2011

XL Insurance (Bermuda) Ltd
An XL Group company