# Endorsement No: 1

**This endorsement, effective:** May 21, 2012 (at 12:01 A.M., prevailing time at the address of the Named Insured as shown in Item 1(b) of the Declarations)

**forms a part of Policy No:** ISO000881

**Issued to:** International Business Machines Corporation

**by:** Iron-Starr Excess Agency Ltd.

## SCHEDULE OF UNDERLYING POLICIES

| Type of Coverage | Insurer | Policy Number | Policy Period | Limits of Liability |
|------------------|---------|---------------|---------------|---------------------|
| Commercial Umbrella Liability | ACE Property and Casualty Insurance Company | XOO G25915951 | May 21, 2012 – May 21, 2013 | USD 50,000,000 Each Occurrence General Aggregate Products Completed-Operations Aggregate |
| Excess Umbrella Commercial | Great American Insurance Co. of NY | EXC 2101297 | May 21, 2012 – May 21, 2013 | USD 25,000,000 Each Occurrence General Aggregate Products/Completed Operations Aggregate (excess of item 1, above) |
| Excess Liability | Endurance Specialty Insurance Ltd. | EXC10000024503 | May 21, 2012 – May 21, 2013 | USD 25,000,000 Each Occurrence, Claim or Loss Aggregate (excess of items 1 & 2, above) |
| Excess Liability | Federal Insurance Company | 79665684 | May 21, 2012 – May 21, 2013 | USD 25,000,000 Each Occurrence Products Completed Operations Aggregate Other Aggregate (where applicable) Part of USD 100,000,000 |
| Liberty Insurance Underwriters Inc. | EXCNY078753-11 | May 21, 2012 – May 1, 2013 | USD 50,000,000 Each Occurrence Aggregate (where applicable) Part of USD 100,000,000 |
| Ohio Casualty Insurance | ECO(13)54088246 | May 21, 2012 – May 21, 2013 | USD 25,000,000 Each Occurrence Aggregate (where applicable) Part of USD 100,000,000 |

(excess of items 1 - 3, above)

**Date of Issuance:** June 14, 2012

ISEABSF (06/10)

1 ISEABSF Schedule of Underlying.doc