**Allied World Assurance Company**

**Endorsement No:** 12

**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(b) of the Declarations)

**forms a part of Policy No:** C007539/002

**Issued to:** International Business Machines Corporation

**by:** Allied World Assurance Company, Ltd.

**AMENDATORY ENDORSEMENT**

It is hereby understood and agreed that as of the effective date shown above Endorsement No. 1, "SCHEDULE OF FOLLOWED POLICY, PRIMARY POLICIES AND UNDERLYING EXCESS POLICIES," is deleted in its entirety and replaced by the following:

**SCHEDULE OF FOLLOWED POLICY, PRIMARY POLICIES AND UNDERLYING EXCESS POLICIES**

| Type of Coverage | Insurer | Policy Number | Policy Period | Limits of Liability |
|------------------|---------|---------------|---------------|---------------------|
| 1. Commercial Umbrella Liability | National Union Fire Insurance Company of Pittsburgh, PA | 5443148 | May 21, 2008 – May 21, 2009 | $50,000,000 Each Occurrence<br>$50,000,000 General Aggregate<br>$50,000,000 Products-Completed Operations Aggregate |
| 2. Excess Liability | ACE American Insurance Company | XCP G2464845A | May 21, 2008 – May 21, 2009 | $25,000,000 Occurrence Aggregate (where applicable)<br>$25,000,000 Products-Completed Operations Aggregate (excess of item 1 above) |
| 3. Excess Liability | Great American Insurance Company of NY | EXC 2194824 | May 21, 2008 – May 21, 2009 | $25,000,000 Each Occurrence<br>$25,000,000 General Aggregate<br>$25,000,000 Products-Completed Operations Aggregate (excess item 1 & 2 above) |

**Excess of underlying insurances and/or Self Insured Retentions listed in the Schedule of Underlying attached to the Followed Policy.**

**Ref:** ACFF-MANUSCRIPT

Page 1 of 2