# Allied World Assurance Company

**Endorsement No:** 1  
**This endorsement, effective:** May 21, 2014 (at 12:01 A.M., prevailing time at the address of the Named Insured as shown in Item I(b) of the Declarations)  
**forms a part of Policy No:** C018124/002  
**Issued to:** International Business Machines Corporation

**May 21, 2015**

- **USD25,000,000** Operations Aggregate General Aggregate
- **Part of**
  - **USD200,000,000** Each Occurrence
  - **USD200,000,000** Products Completed Operations Aggregate
  - **USD200,000,000** General Aggregate

**5b. Excess Liability**  
Great American Insurance Company of N.Y.  
**May 21, 2014 to May 21, 2015**  
- **USD25,000,000** Each Occurrence
- **USD25,000,000** Products Completed Operations Aggregate
- **USD25,000,000** General Aggregate
- **Part of**
  - **USD200,000,000** Each Occurrence
  - **USD200,000,000** Products Completed Operations Aggregate
  - **USD200,000,000** General Aggregate

**5c. Excess**  
QBE Insurance Corporation  
**Ref:** ACBSF-401 (AWAC Ed. 02/09)  
**USD25,000,000** Each Occurrence

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