# Arch Reinsurance Ltd.

**Victoria Hall, 4th Floor**
**11 Victoria Street,**
**Hamilton HM 11**
**Bermuda**

**Telephone:** 441-278-9200
**Fax:** 441-278-9230

## THE BERMUDA SHORTS FORM

**POLICY NO.:** UFP0044276-01
**RENEWAL OF:** UFP0044276-00

## DECLARATIONS

### Item 1.
a) **Named Insured:** International Business Machines Corporation
b) **Address of Named Insured:** One New Orchard Road (MD 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:** As per the Followed Policy, if any

### Item 4.
a) **Followed Policy:**
   - **Company:** Ace Property and Casualty Insurance Company
   - **Policy Number:** XOO G25915951
   - **Coverage:** Lead Umbrella
   - **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 Section I - Schedule of Underlying Policy(ies)

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

### Item 5.
**Limit of Liability:**
a) US$25,000,000 each Occurrence, Claim or Loss Part of US$200,000,000
b) US$25,000,000 Aggregate

### Item 6.
**Underlying Limits:**
(Insuring Agreement 2):
a) US$200,000,000 each Occurrence, Claim or Loss
b) US$200,000,000 Aggregate

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BSF-02 (Ed. 07/09)