# Allied World Assurance Company

## Endorsement No: 1
### This endorsement, effective:
- May 21, 2013 (at 12:01 A.M. prevailing time at the address of the Named Insured as shown in Item 1(b) of the Declarations)
- forms a part of Policy No: C018124/001
- Issued to: International Business Machines Corporation

## Schedule of Underlying Policy(ies)

| Type of Coverage | Insurer | Policy Period | Limits of Liability |
|------------------|---------|---------------|---------------------|
| 1. Commercial Umbrella Liability | ACE Property & Casualty Insurance Company | May 21, 2013 to May 21, 2014 | USD50,000,000 Per Occurrence |
|                       |         |               | USD50,000,000 General Aggregate (where applicable) |
|                       |         |               | USD50,000,000 Products Completed Operations Aggregate |

| 2. Excess Liability | Great American Insurance Co. of NY | May 21, 2013 to May 21, 2014 | USD25,000,000 Per Occurrence |
|                     |                                     |                               | USD25,000,000 General Aggregate (where applicable) |
|                     |                                     |                               | USD25,000,000 Products Completed Operations Aggregate (excess of the items listed above) |

| 3. Excess Liability | Endurance Specialty Insurance Ltd. | May 21, 2013 to May 21, 2014 | USD25,000,000 Per Occurrence |
|                     |                                     |                               | USD25,000,000 General Aggregate (where applicable) |
|                     |                                     |                               | USD25,000,000 Products Completed Operations Aggregate (excess of the items listed above) |

## Date of Issuance: July 30, 2013
Ref: ACBSF-401

(AWAC Ed. 02/09)
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