# Binder

**Date:** 5/16/2018

**Attention:** Mike Moran  
**Brokerage:** R-T Specialty, LLC  
**Address:** 1345 Avenue Of The Americas  
**Office Phone:** 4th Floor New York, NY 10019  
**Email:** mike.moran@rtspecialty.com  

We are pleased to bind the captioned risk as follows:

- **Policy Number:** CEX09600213-05  
- **Renewal of:** CEX09600213-04  

- **Coverage:** Excess Liability  
- **Company:** Berkley National Insurance Company (Best Rated A+ XV) Admitted  

- **Named Insured:** International Business Machines Corporation  
- **Address:** One New Orchard Rd Maildrop 109 Armonk, NY 10504  

- **Policy Term:** 05/21/2018 to 05/21/2019 (12:01 a.m. Standard Time on both dates, at the address of the Named Insured noted above)

- **Limits:**
  - $25,000,000 Each Occurrence
  - $25,000,000 Aggregate Limit (Where Applicable)
  - $50,000,000 Each Occurrence
  - $50,000,000 Aggregate Limit (Where Applicable) (In excess of the controlling underlying insurance shown below.)

- **Premium:**
  - $43,409.00 Annual
  - $0.00 TRIA Premium
  - $43,409.00 Total Premium