# Endurance Specialty Insurance Ltd.

**The Wellesley House, 90 Pitts Bay Road, Pembroke HM08, Bermuda**

**Telephone:** 441-278-0400 **Facsimile:** 441-296-1474

**For Claim Matters Only:** Facsimile: 441-296-5151 or eclaims@endurance.bm

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**POLICY NO.:** P000466 007  
**RENEWAL OF:** P000466 006

## THE BERMUDA SHORTS FORM

### DECLARATIONS

#### Item 1.
a) **Named Insured:** International Business Machines Corporation  
b) **Address of Named Insured:** CHQ Global Risk & Insurance Management One North Castle Drive Mail Drop 222 Armonk, NY 10504, USA  

#### Item 2. **Policy Period:**  
From: May 21, 2009 at 12:01 am standard time at the address of the Named Insured.  
To: May 21, 2010 at 12:01 am standard time at the address of the Named Insured.  

#### Item 3. **Retroactive Date:** None  

#### Item 4.
a) **Followed Policy:**  
   - Company: ACE Property and Casualty Insurance Company  
   - Policy Number: XOO G24895944  
   - Coverage: Umbrella Liability  
   - Policy Period: From: May 21, 2009 To: May 21, 2010  
   - Limits of Liability: US$ 50,000,000 Each Occurrence US$ 50,000,000 General Aggregate US$ 50,000,000 Products Completed Operations Aggregate  

b) **Underlying Policy(ies):** As per Endorsement No. 1 Section I - Schedule of Underlying Policy(ies)  

c) **Quota-Share Policy (ies):** As per Endorsement No. 1 Section II - Schedule of Quota-Share Policy(ies)  

#### Item 5. **Limit of Liability:** (Insuring Agreement 2):  
a) US$ 25,000,000 each Occurrence, Claim or Loss  
b) US$ 25,000,000 Aggregate  

#### Part of  
a) US$ 200,000,000 each Occurrence, Claim or Loss  
b) US$ 200,000,000 Aggregate  

#### Item 6. **Underlying Limits:** (Insuring Agreement 2):  
a) US$ 25,000,000 each Occurrence, Claim or Loss  
b) US$ 25,000,000 Aggregate  

Which in turn is excess of various insurances and/or retentions as more fully set forth in the Followed Policy  

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**Date of Issuance:** June 19, 2009  
**BSF-01 (Ed. 02/09)**

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