# ACE Bermuda Insurance Ltd.

## THE BERMUDA SHORTS FORM - 03 (03/14)

### DECLARATIONS

**Item 1.**
- **a) Named Insured:** International Business Machines Corporation
- **b) Address of Named Insured:** One New Orchard Road, Mail Drop 109, Armonk, NY 10504, USA

**Item 2. Policy Period:**
- From: May 21, 2015 at 12:01 am standard time at the address of the Named Insured.
- To: May 21, 2016 at 12:01 am standard time at the address of the Named Insured.

**Item 3. Retroactive Date:** NONE

**Item 4.**
- **a) Followed Policy:**
  - Company: ACE Property & Casualty Insurance Company
  - Policy Number: X00 G2763848A
  - Coverage: Commercial Umbrella Liability
  - Policy Period: From: May 21, 2015 To: May 21, 2016
  - Limits of Liability: USD 50,000,000
- **b) Underlying Policy(ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section I – Schedule of Underlying Policy(ies)
- **c) Quota Share Policy(ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section II – Schedule of Quota Share Policy(ies)

**Item 5. Limit of Liability:**
- (Insuring Agreement 2):
  - a) USD 50,000,000 each Occurrence, Claim or Loss
  - b) USD 50,000,000 Aggregate

**POLICY NO.: IBM-0025/BSF03**
**NEW BUSINESS/RENEWAL OF:** IBM-0003/BSF03