**Policy Number:** WE1100159

## DECLARATIONS

### Item 1.
- **a) Named Insured:** International Business Machines Corporation and as more fully set forth in the Lead Underlying Policy.
- **b) Address of Named Insured:** IBM Corporation, One New Orchard Road, (Mail Drop 109), Armonk, New York 10504, United States of America

### Item 2.
- **a) Lead Underlying Policy No:** XOO G2 58 30 85 4
- **b) All other Underlying Policy No(s):**
  - (i) EXC 2100825
  - (ii) 201105183
  - (iii) EXCNY-078753-10 / ECO (12) 54088246 / 79665584
- **c) Lead Underlying Insurer:** ACE Property & Casualty Insurance Company
- **d) All other Underlying Insurer(s):**
  - (i) Great American Insurance Co., of New York
  - (ii) Endurance Specialty Insurance Ltd
  - (iii) Liberty International Underwriters / Ohio Casualty Insurance Company / Federal Insurance Company

### Item 3.
- **Limit of Liability: (Insuring Agreement 2):**
  - a) USD 200,000,000 Each Occurrence.
  - b) USD 200,000,000 Aggregate.

### Item 4.
- **Underlying Limits: (Insuring Agreement 2):**
  - a) USD 200,000,000 Each Occurrence.
  - b) USD 200,000,000 Aggregate.

Which in turn is excess of various insurances and/or retentions as more fully set forth in the Lead Underlying Policy.

### Item 5.
- **Policy Period:**
  - From: 21st May 2011 at 12:01 am standard time at the address of the Named Insured.
  - To: 21st May 2012 at 12:01 am standard time at the address of the Named Insured.

### Item 6.
- **Notice to: (Conditions 3 and 5)**
  - a) All Notices of Occurrence:
  - To: The Company as shown in the attached Individual Security Details.

**Market Submission - Wording**  
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