**Insured:** International Business Machines Corporation  
**Policy No.:** UFP0044276-01  
**Endorsement No.:** 1  
**Effective Date:** May 21, 2012  

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**SCHEDULE OF UNDERLYING POLICY(IES)**

All other terms and conditions of this Policy remain unchanged.

Arch Reinsurance Ltd.

By:  
Title: Senior Vice President  
Underwriting Manager, Excess Casualty  

Date: July 18, 2012  
Ref: BSF-4000 Ed. 11/11  

Page 3 of 3  
Arch Reinsurance Ltd.