**Page 3 of 3**

**Insured:** INTERNATIONAL BUSINESS MACHINES CORPORATION  
**Policy No.:** BM00024254LI09A  
**Endorsement No.:** 1  
**Effective Date:** MAY 21, 2009

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**SCHEDULE OF EXCESS POLICY(IES)**

3. **Excess Liability**
   - **Insurer:** Great American Insurance Co. of NY
   - **Policy Number:** EXC 8634140
   - **Policy Period:** May 21, 2009 - May 21, 2010
   - **Policy Form:** GAI6524.06.97
   - **USD $25,000,000 part of $200,000,000 Each Occurrence**
   - **USD $25,000,000 part of $200,000,000 General Aggregate**
   - **USD $25,000,000 part of $200,000,000 Products/Completed Operations Aggregate**

4. **Excess Liability**
   - **Insurer:** Canopius Bermuda
   - **Policy Number:** IBM-064/CUBL005-09
   - **Policy Period:** May 21, 2009 - May 21, 2010
   - **Policy Form:** BSF-01 (Ed. 02/09)
   - **USD $25,000,000 part of $200,000,000 Per Occurrence**
   - **USD $25,000,000 part of $200,000,000 General Aggregate**
   - **USD $25,000,000 part of $200,000,000 Products/Completed Operations Aggregate**

5. **Excess Liability**
   - **Insurer:** Argo Re
   - **Policy Number:** WEO900137
   - **Policy Period:** May 21, 2009 - May 21, 2010
   - **Policy Form:** London Short Excess Form 01-08(OCC)
   - **USD $25,000,000 part of $200,000,000 Each Occurrence**
   - **USD $25,000,000 part of $200,000,000 General Aggregate**
   - **USD $25,000,000 part of $200,000,000 Products/Completed Operations Aggregate**

The terms, declarations, reinsuring agreements, definitions, exclusions and conditions of this Policy otherwise remain unchanged.

**XL INSURANCE (BERMUDA) LTD**

By:  
**VICTORIA BENEVIDES**

Title: ASSISTANT VICE PRESIDENT

Date: JULY 20, 2009

Ref: XSBSF-001.01

**XL INSURANCE**