**Insured:** INTERNATIONAL BUSINESS MACHINES CORPORATION

**Policy No:** BM00024832L10A

**Endorsement No:** 1

**Effective Date:** MAY 21, 2010

**Page 2 of 3**

**SCHEDULE OF EXCESS POLICY(IES)**

6. **Excess Liability**
   - **Insurer:** Liberty international Underwriters Inc.
   - **Policy Number:** LQ1-B71-078-753-002
   - **Policy Period:** May 21, 2010 - May 21, 2011
   - **Policy Form:** 010T - XS (Ed. 03/00)
   - **USD $50,000,000 part of $100,000,000 Each Occurrence**
   - **USD $50,000,000 part of $100,000,000 General Aggregate**
   - **USD $50,000,000 part of $100,000,000 Products/Completed Operations Aggregate**

**Section II – Schedule of Quota-Share Policy(ies):**

1. **Excess Liability**
   - **Insurer:** Endurance Specialty Insurance Ltd.
   - **Policy Number:** P000466 008
   - **Policy Period:** May 21, 2010 - May 21, 2011
   - **Policy Form:** ESIL BSF-02 Ed. 07/09
   - **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**

2. **Excess Liability**
   - **Insurer:** Canopius Underwriting Bermuda Limited
   - **Policy Number:** IBM-141/CUBLBSF02-10
   - **Policy Period:** May 21, 2010 - May 21, 2011
   - **Policy Form:** CUBLBSF02 (07/09)
   - **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**

3. **Excess Liability**
   - **Insurer:** Argo Re
   - **Policy Number:** WE1000145
   - **Policy Period:** May 21, 2010 - May 21, 2011
   - **Policy Form:** London Short Excess Form 01 - 08
   - **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:** Fireman's Fund Insurance Company
   - **Policy Number:** SHX 00074387341
   - **Policy Period:** May 21, 2010 - May 21, 2011
   - **Policy Form:** SHX (5303-10-02)
   - **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**

**Ref:** XSBSF-001.01

**Cont'd...**

**XL INSURANCE**