**AON**

VIA ELECTRONIC MAIL

July 30, 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  
Allied World Assurance Company, AG  
Policy No.: C018124/001  
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 8 which attaches to and forms part of the above captioned policy.

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

Endt. No. 2  
ARBITRATION ENDORSEMENT  
Eff. May 21/13  

Endt. No. 3  
CHOICE OF LAW ENDORSEMENT – II  
Eff. May 21/13  

Endt. No. 4  
PREMIUM PAYMENT CONDITION  
Eff. May 21/13  

Endt. No. 5  
SEVERAL LIABILITY NOTICE  
Eff. May 21/13  

Endt. No. 6  
DEFENSE; ASSISTANCE AND COOPERATION ENDORSEMENT  
Eff. May 21/13  

Endt. No. 7  
NON FOLLOWED ENDORSEMENT  
Eff. May 21/13  

Aon Risk Solutions  
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P.O. Box HM 2020 | Hamilton HM HX | Bermuda  
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Aon (Bermuda) Ltd.