# Endurance Specialty Insurance Ltd.

**The Wellesley House, 90 Pitts Bay Road, Pembroke HM08, Bermuda**

**Telephone:** 441-278-0400 **Facsimile:** 441-296-1474

**For Claim Matters Only:** Facsimile: 441-296-5151 or excesscasualtyclaims@endurance.bm

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**POLICY NO.:** EXC10000024503  
**RENEWAL OF:** EXC10000024502

## THE BERMUDA SHORTS FORM - 02

### DECLARATIONS

#### Item 1.
a) **Named Insured:** International Business Machines Corporation  
b) **Address of Named Insured:** One New Orchard Road Mail Drop 109 Armonk, NY 10504, USA  

#### Item 2. **Policy Period:**
From: May 21, 2012 at 12:01 am standard time at the address of the Named Insured.  
To: May 21, 2013 at 12:01 am standard time at the address of the Named Insured.  

#### Item 3. **Retroactive Date:** None  

#### Item 4.
a) **Followed Policy:**
   - **Company:** ACE Property and Casualty Insurance Company  
   - **Policy Number:** XOO G25915951  
   - **Coverage:** Commercial Umbrella Liability Policy  
   - **Policy Period:** From: May 21, 2012 To: May 21, 2013  
   - **Limits of Liability:** US$ 50,000,000 Each Occurrence  
     US$ 50,000,000 General Aggregate  
     US$ 50,000,000 Products Completed Operations Aggregate  

b) **Underlying Policy(ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section I - Schedule of Underlying Policy(ies)  

c) **Quota Share Policy (ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section II - Schedule of Quota Share Policy(ies)  

#### Item 5. **Limit of Liability: (Insuring Agreement 2):**
a) US$ 25,000,000 each Occurrence, Claim or Loss  
b) US$ 25,000,000 Aggregate  

#### Item 6. **Underlying Limits: (Insuring Agreement 2):**
a) US$ 75,000,000 each Occurrence, Claim or Loss  
b) US$ 75,000,000 Aggregate  

Which in turn is excess of various insurances and/or retentions as more fully set forth in the Followed Policy  

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**Date of Issuance:** June 5, 2012  
**BSF-02 Declarations (Ed. 07/09)**

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