# 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

## 5d. Excess Liability
- **Insurer:** QBE Insurance Corporation  
- **Effective Date:** May 21, 2013 to May 21, 2014  
- **Limits of Liability:**  
  - USD25,000,000 Per Occurrence  
  - USD25,000,000 General Aggregate (where applicable)  
  - USD25,000,000 Products Completed Operations Aggregate  

## 5e. Excess Liability
- **Insurer:** XL Insurance (Bermuda) Ltd.  
- **Effective Date:** May 21, 2013 to May 21, 2014  
- **Limits of Liability:**  
  - USD75,000,000 Per Occurrence  
  - USD75,000,000 General Aggregate (where applicable)  
  - USD75,000,000 Products Completed Operations Aggregate  

Part of:
- USD200,000,000 Per Occurrence  
- USD200,000,000 General Aggregate (where applicable)  
- USD200,000,000 Products Completed Operations Aggregate  

**Date of Issuance:** July 30, 2013  
**Ref:** ACBSF-401  
**(AWAC Ed. 02/09)**

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