# Ascot Excess Liability Binder

**Zoe Jones**
**zoe.jones@ascotgroup.com**

**Date: 5/16/2024**

| Named Insured: | International Business Machines Corporation |
|---------------|--------------------------------------------|
| Mailing Address: | One New Orchard Road<br>Mail Drop 109<br>Armonk, NY 10504 |
| Producer Contact: | Steve Goldstein<br>Aon Risk Services Northeast, Inc - New York<br>New York, NY |
| Policy Period: | 5/21/2024 - 5/21/2025 |
| Policy Number: | EXNA2410000645-01 |
| Policy Type: | New |
| Policy Form: | AON |
| Policy Trigger: | Occurrence |
| Retroactive Date: |  |
| Renewal of: | New |
| Account number: | 425954 |
| Carrier: | Ascot Insurance Company (Admitted) |
| Rating: | AM Best Financial Strength Rating of A (Excellent), a Financial Size Category of XIV |

Ascot is pleased to provide our Binder for the above captioned firm. Please find all terms and subjectivities listed below. If you have any questions or concerns, please do not hesitate to contact your assigned Underwriter.

## Limits of Insurance

| Each Occurrence Limit: | $15,000,000 |
|------------------------|-------------|
| Aggregate Limit:       | $15,000,000 |
| Part of:               | $30,000,000 |
| Each Occurrence Limit: | $30,000,000 |
| Aggregate Limit:       | $30,000,000 |
| Excess of:             | $135,000,000 |
| Each Occurrence Limit: | $135,000,000 |
| Aggregate Limit:       | $135,000,000 |

Which are further in excess of the underlying primary insurance and self-insured retentions that are specified in the Lead Underlying Policy.

If defense costs erode the applicable Lead Underlying Policy limit, they will erode the applicable Ascot limit. If defense costs do not erode the applicable Lead Underlying Policy Limit, they will not erode the applicable Ascot limit.