**INTERNATIONAL BUSINESS MACHINES CORPORATION**

(e) retaliation (including retaliation against whistleblowers);

(f) invasion of privacy; or

(g) defamation, infliction or emotional distress or other tort arising from the facts and circumstances of or related to any of the foregoing.

E. This Policy shall not apply to liability in respect of any obligation for which the Insured or any company as its insurer may be liable under any workers' compensation, unemployment compensation or disability benefits law; provided, however, that this Exclusion E does not apply to liability of others assumed by the Insured under contract or agreement or to liability arising under the Federal Employers Liability Act, the Jones Act or, in the case of any Insured which is an authorized self-insured, the Longshoremen's and Harbor Workers' Compensation Act.