# 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:** P000466 008

**Issued to:** International Business Machines Corporation

**by:** Endurance Specialty Insurance Ltd.

## SCHEDULE OF EXCESS POLICY(IES), Continued

### 4b. Quota Share
- **Ohio Casualty Insurance Company**
  - **US$25,000,000**
  - **US$25,000,000**
  - **ECO(11) 54088246**
  - **05/21/2010 to 05/21/2011**
  - **Part of US$100,000,000**
  - **Each Occurrence Aggregate Limit (where applicable)**

### 4c. Quota Share
- **Liberty Insurance Underwriters Inc.**
  - **US$50,000,000**
  - **US$50,000,000**
  - **LQ1-B71-078-753-092**
  - **05/21/2010 to 05/21/2011**
  - **Part of US$100,000,000**
  - **Each Occurrence Aggregate (where applicable)**

## Section II - Schedule of Underlying Policy(ies):

### 5a. Quota Share
- **XL Insurance (Bermuda) Ltd.**
  - **US$75,000,000**
  - **US$75,000,000**
  - **BM00024832L110A**
  - **05/21/2010 to 05/21/2011**
  - **Part of US$200,000,000**
  - **Per Occurrence General Aggregate**

### 5b. Quota Share
- **Argo Re**
  - **US$25,000,000**
  - **US$25,000,000**
  - **WE1000145**
  - **05/21/2010 to 05/21/2011**
  - **Part of US$200,000,000**
  - **Per Occurrence Annual Aggregate**

### 5c. Quota Share
- **Canopius Bermuda**
  - **US$25,000,000**
  - **US$25,000,000**
  - **IBM-141/CUBLBSF02-10**
  - **05/21/2010 to 05/21/2011**
  - **Part of US$200,000,000**
  - **Each Occurrence General Aggregate**

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

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

**I_401_10**