**AON**

VIA ELECTRONIC MAIL

July 16, 2013

Ms. Kathleen Ireland  
Risk Manager, IBM CHQ  
Global Risk & Insurance Management  
International Business Machines Corporation  
One New Orchard Road  
Armonk, New York 10504  
USA  

Re: International Business Machines Corporation  
ACE Bermuda Insurance Ltd.  
Policy No.: IBM-0015/BSF02  
Policy Period: May 21, 2013 – May 21, 2014  

Dear Ms. Ireland,

We are please to enclose the Declarations page, Policy form and Endorsement nos. 1 to 13 which attaches to and forms part of the above captioned policy.

Endt. No. 1 SCHEDULE OF EXCESS POLICY(IES) ENDORSEMENT  
Eff. May 21/13  

Endt. No. 2 PRIOR INSURANCE AND NON-CUMULATION OF LIMITS ENDORSEMENT  
Eff. May 21/13  

Endt. No. 3 SPECIAL EXCLUSIONARY ENDORSEMENT  
Eff. May 21/13  

Endt. No. 4 NON FOLLOWED ENDORSEMENT  
Eff. May 21/13  

Endt. No. 5 CHOICE OF LAW ENDORSEMENT - II  
Eff. May 21/13  

Endt. No. 6 PREMIUM PAYMENT CONDITION ENDORSEMENT  
Eff. May 21/13  

Endt. No. 7 DEFENSE, ASSISTANCE AND COOPERATION ENDORSEMENT  
Eff. May 21/13  

Aon Risk Solutions  
Aon House | 30 Woodbourne Avenue | Pembroke HM08 | Bermuda  
P.O. Box HM 2020 | Hamilton HM HX | Bermuda  
t +1.441.295.2220 | d +1.441.278.1213 | f +1.441.292.3244 | aon.com  
Aon (Bermuda) Ltd.