# COMMERCIAL EXCESS LIABILITY DECLARATIONS

## ITEM 1
**POLICY NO:** CCU3967489  
**POLICY PERIOD:** From May 21, 2014 To May 21, 2015  
**COVERAGE IS PROVIDED IN THE:** QBE Insurance Corporation  

**NAMED INSURED AND ADDRESS:** International Business Machines Corporation, One New Orchard Road (Mail Drop 109), Armonk, NY 10504  
**AGENT OR BROKER:** Aon, 199 Water Street, New York, NY 10038  

**POLICY PERIOD:** The policy period will begin and end at 12:01 AM standard time at the address of the first named insured  

**THIS POLICY CONSISTS OF THESE DECLARATIONS, THE COMMERCIAL EXCESS LIABILITY COVERAGE FORM, AND ANY ENDORSEMENTS INDICATED AS APPLICABLE IN THESE DECLARATIONS**

## ITEM 2
### A. LIMITS OF INSURANCE:
- **EACH OCCURANCE LIMIT:** $25,000,000  
- **GENERAL AGGREGATE LIMIT:** $25,000,000  
- **PRODUCTS AND COMPLETED OPERATIONS AGGREGATE LIMIT:** $25,000,000  

### QUOTA SHARE PART OF:
- **EACH OCCURANCE LIMIT:** $200,000,000  
- **GENERAL AGGREGATE LIMIT:** $200,000,000  
- **PRODUCTS AND COMPLETED OPERATIONS AGGREGATE LIMIT:** $200,000,000  

### B. LIMITS OF UNDERLYING INSURANCE:
- **EACH OCCURANCE LIMIT:** $200,000,000  
- **GENERAL AGGREGATE LIMIT:** $200,000,000  
- **PRODUCTS AND COMPLETED OPERATIONS AGGREGATE LIMIT:** $200,000,000  

## ITEM 3
- **COMMERCIAL EXCESS LIABILITY PREMIUM:** $78,795  
- **MINIMUM EARNED PREMIUM:** Not Applicable  

## NOTICE:
These policy forms and the applicable rates are exempt from the filing requirements of the New York State Insurance [Department] Law and Regulations. However, such the forms and rates must meet the minimum standards of the New York Insurance Law and Regulations.

**NYFTZ Class Code:** 2-13000

**XS 70 05 09 11**
**Date of Issuance:** 6/25/2014