**AON**

**VIA ELECTRONIC MAIL**

**July 15, 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 Iron-Starr Excess Agency Ltd.
Policy No.: IS0001796
Policy Period: May 21, 2014 – May 21, 2015

Dear Ms. Ireland,

We are pleased to enclose the Declarations page, Policy form and Endorsement nos. 1 to 5 which attach to and form part of the above captioned policy.

Endt. No. 1 **SCHEDULE OF EXCESS POLICIES**
Eff. May 21/14

Endt. No. 2 **COVERAGE TERRITORY ENDORSEMENT**
Eff. May 21/14

Endt. No. 3 **PREMIUM PAYMENT CONDITION**
Eff. May 21/14

Endt. No. 4 **NON FOLLOWED ENDORSEMENT**
Eff. May 21/14

Endt. No. 5 **AMENDMENT OF CONDITION 3. CANCELLATION**
Eff. May 21/14

Please refer to the actual endorsement for exact terms and conditions.

**Aon Risk Solutions**
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