# Following Form Excess Liability Insurance Policy
## Occurrence Form
### (the "Policy")

**Policy No:** IBM-0054/OCC01

**Item 1**
- **(a) Named Insured:** International Business Machines Corp. (IBM Corp)
- **(b) Address of Named Insured:** CHQ Global Risk & Ins. Management, IBM Corporation, One North Castle Drive (Mail Drop 222), Armonk, N.Y. 10504, USA

**Item 2**
- **Limits of Liability:**
  - Layer 1
    - **(a) Per Occurrence Limit:** USD 50,000,000 Part of USD
    - **(b) Aggregate Limit:** USD 100,000,000 Part of USD

**Item 3**
- **Retention:** Layer 1 USD 550,000,000

**Item 4**
- **Policy Period:**
  - **(a) Inception Date:** May 21, 2008
  - **(b) Expiration Date:** May 21, 2009
  - *(12:01 A.M. at the address stated in Item 1(b) above)*

**Item 5**
- **Representative of Named Insured:** Arthur J. Gallagher (UK) Limited

**Item 6**
- **Currency:**
  - **(a) Premium:** US DOLLARS
  - **(b) Claims:** US DOLLARS

**Item 7**
- **Premium:**
  - **Gross Premium:** USD 95,000.00
  - **Net Premium:** USD 95,000.00
  - **Commission:** USD 0.00

**ii**

**ace bermuda**