# 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 1 (b) of the Declarations)

**forms a part of Policy No:** P000466 008

**Issued to:** International Business Machines Corporation

**by:** Endurance Specialty Insurance Ltd.

## SCHEDULE OF EXCESS POLICY(IES)

| Type of Coverage | Insurer | Policy Number | Policy Period | Limits of Liability |
|------------------|---------|---------------|---------------|---------------------|
| **A) Followed Policy** | 1. Umbrella Liability | ACE Property and Casualty Insurance Company XOO G24907338 | 05/21/2010 to 05/21/2011 | US$50,000,000 Each Occurrence<br>US$50,000,000 General Aggregate<br>US$50,000,000 Products Completed Operations Aggregate |

| **B) Schedule of Intervening Policy(ies)** |
|------------------------------------------|------------------------------------|------------------------------------|-------------------------------------------------|
| 2. Excess Liability | Great American Insurance Co. of NY EXC 1679516 | 05/21/2010 to 05/21/2011 | US$25,000,000 Each Occurrence<br>US$25,000,000 General Aggregate (excess of item 1, above) |
| 3. Excess Liability | Endurance Specialty Insurance Ltd. EXC10000024501 | 05/21/2010 to 05/21/2011 | US$25,000,000 Each Occurrence, Claim or Loss Aggregate (excess of items 1-2, above) |
| 4a. Quota Share | Federal Insurance Company 79665684 | 05/21/2010 to 05/21/2011 | US$25,000,000 Each Occurrence<br>US$25,000,000 Other Aggregate Limit as applicable |

**Part of US$100,000,000**

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

**401 BSF-02 (Ed. 07/09)**

**1_401_10**