# 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, 2013 at 12:01 am standard time at the address of the Named Insured.
- To: May 21, 2014 at 12:01 am standard time at the address of the Named Insured.

**Item 3. Retroactive Date:**
- None

**Item 4.**
- **a) Followed Policy:**
  - Company: ACE Property & Casualty Insurance Company
  - Policy Number: XOO G27051169
  - Coverage: Lead Umbrella - Occurrence
  - Policy Period: From: May 21, 2013 To: May 21, 2014
  - Limits of Liability:
    - USD 50,000,000 Per Occurrence
    - USD 50,000,000 Aggregate (where applicable)
- **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) USD 50,000,000 each Occurrence, Claim or Loss
  - b) USD 50,000,000 Aggregate

**Item 6. Underlying Limits:**
- **(Insuring Agreement 2):**
  - a) USD 650,000,000 each Occurrence, Claim or Loss
  - b) USD 650,000,000 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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AMERICAN INTERNATIONAL REINSURANCE COMPANY, LTD.
27 Richmond Road
Pembroke, HM08
Bermuda
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