**Insured:** International Business Machines Corporation

**Policy No.:** UFP0044276-00

**Endorsement No.:** 1

**Effective Date:** May 21, 2011

## SCHEDULE OF UNDERLYING POLICY(IES)

- **Federal Insurance Company**
  - (25m)
  - Policy No.: 7966-56-84
  - Policy Period: May 21, 2011 to May 21, 2012

- **Liberty Insurance Underwriters Inc.**
  - (50m)
  - Policy No.: EXCNY078753-10
  - Policy Period: May 21, 2011 to May 21, 2012
  - (excess of items 1, 2, & 3, above)

## Section II – Schedule of Quota-Share Policy(ies):

5. **Excess Liability**
   - Canopius Underwriting Bermuda Limited
     - (25m)
     - Policy No.: IBM-200/CUBLBSF02-11
     - Policy Period: May 21, 2011 to May 21, 2012
     - US$200,000,000 Per Occurrence
     - US$200,000,000 Annual Aggregate

   - XL Insurance (Bermuda) Ltd
     - (75m)
     - Policy No.: BM00025502LII1A
     - Policy Period: May 21, 2011 to May 21, 2012

   - Great American Insurance Co. of NY
     - (25m)
     - Policy No.: EXC 2100826
     - Policy Period: May 21, 2011 to May 21, 2012

   - Argo Re
     - (25m)
     - Policy No.: WE1100159
     - Policy Period: May 21, 2011 to May 21, 2012

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