# Binder

**Re:** IBM CORPORATION

**Coverage:** U.S. Short Excess Form Excess Liability

**Policy Number:** AFX0953286-00

1. **Insurer:** Zurich-American Insurance Co
2. **Named Insured:** IBM CORPORATION
3. **Insured Address:** 1 New Orchard RD MAIL DROP 1, Armonk, NY 10504-1722
4. **Policy Period:** 05/21/2020 to 05/21/2021 12:01 a.m. Standard Time at the address stated above.
5. **Binder Expiration Date:** 07/05/2020 12:01 a.m. Standard Time at the address stated above. This binder will be terminated and superseded upon delivery of the formal policy(ies) or certificates to replace it.

6. **Schedule of Proposed Insurance:**

   - **Policy Form:** U.S. Short Excess Form (11/17)
   - **Coverage Type:** Excess - Occurrence
   - **Limits of Liability:**
     - $5,000,000 Occurrence Part of $100,000,000 Excess of $125,000,000
     - $5,000,000 Other Aggregate Part of $100,000,000 Excess of $125,000,000
     - $5,000,000 Prod/Com Ops Agg. Part of $100,000,000 Excess of $125,000,000

   - **Followed Policy:**
     - **Insurer:** ACE Property and Casualty Insurance Company
     - **Policy Number:** XEU G27983212 005
     - **Policy Limits:**
       - $25,000,000 Occurrence
       - $25,000,000 Aggregate
       - $25,000,000 Products/Completed Operations Aggregate
     - **Terms & Conditions:** Per lead underlying binder on file.

7. **Total Premium Due:** $19,998.00

The premium above includes a 1.0% charge for Certified Acts of Terrorism coverage as described in the attached Disclosure of Premium Notice.

8. **Minimum Earned Premium:** $ N/A

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