End 001-12/11
Form BSF-02
Page 2 of 3

ADDITIONAL/RETURN PREMIUM: NIL

SCHEDULE OF EXCESS POLICY(IES) ENDORSEMENT

Excess 5(a). XL Insurance (Bermuda) Ltd.
Policy No: TBD
May 21, 2013 – March 21, 2014
US$75,000,000 part of $200,000,000
(excess of items 1, 2, 3 & 4 above)

Excess 5(b). QBE Insurance Corporation
Policy No: TBD
May 21, 2013 – March 21, 2014
US$25,000,000 part of $200,000,000
(excess of items 1, 2, 3 & 4 above)

Excess 5(c). Great American Insurance Co. of NY
Policy No: TBD
May 21, 2013 – March 21, 2014
US$25,000,000 part of $200,000,000
(excess of items 1, 2, 3 & 4 above)

Excess 5(d). Arch Insurance (Bermuda)
Policy No: TBD
May 21, 2013 – March 21, 2014
US$25,000,000 part of $200,000,000
(excess of items 1, 2, 3 & 4 above)

Excess 5(e). Canoplus Underwriting Bermuda Limited
Policy No: TBD
May 21, 2013 – March 21, 2014
US$25,000,000 part of $200,000,000
(excess of items 1, 2, 3 & 4 above)

Excess 5(f). Argo Re Ltd.
Policy No: TBD
May 21, 2013 – March 21, 2014
US$25,000,000 part of $200,000,000
(excess of items 1, 2, 3 & 4 above)

Excess 6. Allied World Assurance Company
Policy No: TBD
May 21, 2013 – March 21, 2014
US$25,000,000 part of $50,000,000
(excess of items 1, 2, 3, 4 & 5 above)

Excess 6. Arch Insurance (Bermuda)
Policy No: TBD
May 21, 2013 – March 21, 2014
US$25,000,000 part of $50,000,000
(excess of items 1, 2, 3, 4 & 5 above)

The effective date of this endorsement is May 21, 2013
All other terms and conditions remain unchanged.
This endorsement is attached to and made a part of Policy No. IBM-0015/BSF02 of ACE Bermuda Insurance Ltd.

Issued to:
International Business Machines Corporation
Date of Issue: May 20, 2013
By Authorised Representatives
End No. 1