# Endorsement No. 7

**This Endorsement, effective:** May 21, 2008 (at 12:01 A.M. prevailing time at the address of the Named Insured as shown in Item 1 of the Declarations)

**forms a part of Policy No.:** P000466 006

**Issued To:** International Business Machines Corporation

**By:** Endurance Specialty Insurance Ltd.

## SCHEDULE OF UNDERLYING EXCESS POLICIES AND/OR QUOTA SHARE POLICIES, continued

| Type of Coverage | Insurer | Policy Number | Policy Period | Limits of Liability |
|------------------|---------|---------------|---------------|----------------------|
| 4b. Quota Share Excess | Liberty Insurance Underwriters Inc. | LQ1-B71-078-753-072 | 05/21/2008 to 05/21/2009 | US$ 50,000,000 Each Occurrence |
| Part of US$ 100,000,000 General Aggregate where applicable |

| 4c. Quota Share Excess | Vigilant Insurance Company | 79665684 | 05/21/2008 to 05/21/2009 | US$ 25,000,000 Each Occurrence |
| Part of US$ 100,000,000 Other Aggregate as applicable |
| US$ 25,000,000 Products Completed Operations Aggregate |

| 5a. Quota Share Excess | Allied World Assurance Company, Ltd. | C007539/002 | 05/21/2008 to 05/21/2009 | US$ 25,000,000 Per Occurrence |
| Part of US$ 200,000,000 General Aggregate where applicable |

| 5b. Quota Share Excess | XL Insurance (Bermuda) Ltd. | BM00023605L108A | 05/21/2008 to 05/21/2009 | US$ 100,000,000 Each Occurrence |
| Part of US$ 200,000,000 General Aggregate where applicable |

**Date of Issuance -** December 8, 2008