**AON**

**VIA ELECTRONIC MAIL**

**July 14, 2014**

**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
ACE Bermuda Insurance Ltd.
Policy No.: IBM-0003/BSF03
Policy Period: May 21, 2014 – May 21, 2015

Dear Ms. Ireland,

We are please to enclose the Declarations page, Policy form and Endorsement nos. 1 to 8 which attach to and forms part of the above captioned policy.

**Endt. No. 1** **SCHEDULE OF EXCESS POLICY(IES) ENDORSEMENT**
**Eff. May 21/14**

**Endt. No. 2** **AMENDMENT OF CONDITION 3. (CANCELLATION) ENDORSEMENT**
**Eff. May 21/14**

**Endt. No. 3** **PRIOR INSURANCE AND NON-CUMULATION OF LIMITS ENDORSEMENT**
**Eff. May 21/14**

**Endt. No. 4** **PREMIUM PAYMENT CONDITION ENDORSEMENT**
**Eff. May 21/14**

**Endt. No. 5** **TRADE OR ECONOMIC SANCTIONS ENDORSEMENT**
**Eff. May 21/14**

**Endt. No. 6** **NON-FOLLOWED ENDORSEMENT**
**Eff. May 21/14**

**Endt. No. 7** **FOLLOW FORM POLICY ISSUANCE ENDORSEMENT**
**Eff. May 21/14**

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