**Endorsement No:** 1

**This endorsement, effective:** May 21, 2010 (at 12:01 A.M. prevailing time at the address of the Named Insured as shown in item I (b) of the Declarations)

**forms a part of Policy No:** P00466 008

**Issued to:** International Business Machines Corporation

**by:** Endurance Specialty Insurance Ltd.

**SCHEDULE OF EXCESS POLICY(IES), Continued**

**5d. Quota Share**
- **National Surety Corporation**
  - SHX 00074387341
  - 05/21/2010 to 05/21/2011
  - **US$25,000,000 Each Occurrence**
  - **US$25,000,000 Aggregate**
  - **Part of US$200,000,000**

**5e. Quota Share**
- **Great American Insurance Co. of NY**
  - EXC 1679517
  - 05/21/2010 to 05/21/2011
  - **US$25,000,000 Each Occurrence**
  - **US$25,000,000 General Aggregate**
  - **Part of US$200,000,000 (excess of items 1-4, above)**

All other terms and conditions of this Policy remain unchanged.

**Authorized Representative**

**Date of Issuance:** June 8, 2010

401 BSF-02 (Ed. 07/09)
1_401_10