**Insured:** International Business Machines Corporation  
**Policy No:** UFP0044276-03  
**Endorsement No.:** 1  
**Effective Date:** May 21, 2014

**SCHEDULE OF UNDERLYING POLICY(IES)**

**(25m)**  
Policy Period: May 21, 2014 to May 21, 2015  

Liberty Insurance Underwriters Inc.  
**(25m)**  
Policy Period: May 21, 2014 to May 21, 2015  

Berkshire Hathaway Specialty Insurance (25m)  
Policy Period: May 21, 2014 to May 21, 2015  
(excess of items 1, 2, & 3, above)

5. Excess Liability  
Aspen Bermuda Limited (25m)  
US$200,000,000 Per Occurrence General Aggregate  
Policy Period: May 21, 2014 to May 21, 2015  

XL Insurance (Bermuda) Ltd (75m)  
Policy Period: May 21, 2014 to May 21, 2015  

Great American Insurance Co. of NY (25m)  
Policy Period: May 21, 2014 to May 21, 2015  

Argo Re (25m)  
Policy Period: May 21, 2014 to May 21, 2015  

QBE Insurance Corporation (25m)  
Policy Period: May 21, 2014 to May 21, 2015  

Allied World Assurance Company, AG (25m)  
Policy Period: May 21, 2014 to May 21, 2015  

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Arch Reinsurance Ltd.