# Commercial Excess Liability Binder

**Date:** May 17, 2018  
**Sent via:** Email

**To:** Derek Aurori  
**From:** Chris Dacchille

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**Derek,**

We are pleased to provide the following renewal binder:

- **Named Insured:** International Business Machines Corporation  
  One New Orchard Road  
  Mail Drop 109  
  Armonk, NY 10504  

- **Insurer:** Endurance American Insurance Company  
  Admitted - A.M. Best Rating: A+XV  

- **Policy Number:** XSC30000337801  

- **Policy Form:** Excess  
  Form Number: EXL 0203 0813  

- **Policy Period:** From: May 21, 2018 To: May 21, 2019 (12:01 AM Standard Time on both dates at the address of the Named Insured noted above.)

- **Limits of Insurance:**
  - Each Occurrence Limit: $25,000,000
  - Aggregate Limit (where applicable): $25,000,000
  - Part of Limit: $200,000,000

- **Schedule of Quota Share Limits of Insurance:**

| Coverage/Carrier | Policy Period | Limits/Attachments | Premium |
|------------------|---------------|--------------------|---------|
| Excess / Aspen Bermuda Limited | May 21, 2018 to May 21, 2019 | $25,000,000 Each Occurrence and Aggregate Part of $200,000,000 Each Occurrence and Aggregate in excess of $200,000,000 Defense Outside Limits | $64,741 Annual |
| Excess / Great American | May 21, 2018 to May 21, 2019 | $25,000,000 Each Occurrence and Aggregate Part of $200,000,000 Each Occurrence and Aggregate in excess of $200,000,000 Defense Outside Limits | $64,741 Annual |

**Notice:** THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS.

**Endurance American Insurance Company**  
**Page 1**  
**Binder**