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**Insured:** International Business Machines Corporation  
**Policy No.:** BM00027784L14A  
**Endorsement No.:** 1  
**Effective Date:** May 21, 2014

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**SCHEDULE OF UNDERLYING POLICY(IES) AND QUOTE SHARE POLICY(IES) ENDORSEMENT**

**Section 1 – Underlying Policy(ies)**

| Item No. | Type of Coverage | Insurer | Policy Number | Policy Period | Limit of Liability |
|----------|------------------|---------|---------------|---------------|--------------------|
| 4        | Excess Liability | The Ohio Casualty insurance Company ECO (15) 54088246 (25%) | May 21, 2014 - May 21, 2015 | USD 100,000,000 | Each Occurrence, Claim or Loss Annual Aggregate (where applicable) Excess of Item 3 above |
|          |                  | Liberty Insurance Underwriters 1000040626-13 (25%) | May 21, 2014 - May 21, 2015 | USD 100,000,000 | |
|          |                  | Federal Insurance Company 79665684 (25%) | May 21, 2014 - May 21, 2015 | | |
|          |                  | National Liability & Fire Insurance Company 43-XSF-100238.01 (25%) | May 21, 2014 - May 21, 2015 | | |

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**Ref:** XSBSF03-001.01

**XL**