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**Insured:** International Business Machines Corporation  
**Policy No.:** BM00026949L113A  
**Endorsement No.:** 3  
**Effective Date:** May 21, 2013

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**FOLLOW FORM BERMUDA SHORTS FORM POLICY AMENDATORY ENDORSEMENT**

It is hereby agreed that the following Endorsements of the Followed Policy are not included as part of this Policy.

- Catastrophe Management Coverage Endorsement
- Catastrophe Management Policyholder Notice
- New York Changes Endorsement
- New York Changes Transfer of Duties When a Limit of Insurance is Used Up
- JV Endorsement – Scaled Limit/Full Attachment
- Punitive Damages – Most Favorable Jurisdiction Limitation Endorsement
- Definition of Key Executive Amendatory Endorsement

The terms, declarations, insuring agreements, definitions, exclusions and conditions of this Policy otherwise remain unchanged.

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**XL INSURANCE (BERMUDA) LTD**

By: **[Signature]**  
**Authorised Representative**

**Date:** June 18, 2013

**Ref:** XSBSF-011.01

**XL**