# THE BERMUDA SHORTS FORM -- 02

## DECLARATIONS

**Item 1.**
- **a) Named Insured:** International Business Machines Corporation
- **b) Address of Named Insured:** One New Orchard Road, (Mail Drop 109) Armonk, NY 10504

**Item 2.** **Policy Period:**
- From: May 21, 2011 at 12:01 am standard time at the address of the Named Insured.
- To: May 21, 2012 at 12:01 am standard time at the address of the Named Insured.

**Item 3.** **Retroactive Date:** Not Applicable

**Item 4.**
- **a) Followed Policy:**
  - **Company:** ACE Property & Casualty Insurance Company
  - **Policy Number:** XOO G2 58 30 85 4
  - **Coverage:** Lead Umbrella - Occurrence
  - **Policy Period:** From: May 21, 2011 To: May 21, 2012
  - **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 Schedule of Excess Policy(ies) Section I - Schedule of Underlying Policy(ies)
- **c) Quota Share Policy(ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section II - Schedule of Quota Share Policy(ies)

**Item 5.** **Limit of Liability:**
- **(Insuring Agreement 2):**
  - a) US$ 150,000,000 each Occurrence, Claim or Loss
  - b) US$ 150,000,000 Aggregate

**Item 6.** **Underlying Limits:**
- **(Insuring Agreement 2):**
  - a) US$ 400,000,000 each Occurrence, Claim or Loss
  - b) US$ 400,000,000 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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**CHARTIS EXCESS LIMITED**
- Head Office: 30 North Wall Quay, Dublin 1 Ireland
- Branch Office, Bermuda - 29 Richmond Road, Pembroke, HM08
- Branch Office, U.K. - 58 Fenchurch Street, London, EC3M 4AB

Chartis Excess Limited is incorporated and registered in The Republic of Ireland, Registration No. 279452, and is regulated by The Central Bank of Ireland.