**Insured:** International Business Machines Corporation

**Policy No.:** UFP0055008-00

**Endorsement No.:** 1

**Effective Date:** May 21, 2013

**SCHEDULE OF UNDERLYING POLICY(IES)**

1. **Federal Insurance Company**
   - (25m)
   - Policy Period: May 21, 2013 to May 21, 2014

2. **Liberty Insurance Underwriters Inc.**
   - (50m)
   - Policy Period: May 21, 2013 to May 21, 2014
   - (excess of items 1, 2, & 3, above)

3. **Excess Liability**
   - Canopius Underwriting Bermuda Limited
     - (25m)
     - US$200,000,000 Per Occurrence
     - US$200,000,000 Annual Aggregate
   - Policy Period: May 21, 2013 to May 21, 2014

   - XL Insurance (Bermuda) Ltd
     - (75m)
     - Policy Period: May 21, 2013 to May 21, 2014

   - Great American Insurance Co. of NY
     - (25m)
     - Policy Period: May 21, 2013 to May 21, 2014

   - Argo Re
     - (25m)
     - Policy Period: May 21, 2013 to May 21, 2014

   - QBE Insurance Corporation
     - (25m)
     - Policy Period: May 21, 2013 to May 21, 2014

   - Arch Reinsurance Ltd.
     - (25m)
     - Policy Period: May 21, 2013 to May 21, 2014

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**Arch Reinsurance Ltd.**