**Insured:** International Business Machines Corporation

**Policy No.:** UFP0044276-04

**Endorsement No.:** 1

**Effective Date:** May 21, 2015

## SCHEDULE OF UNDERLYING POLICY(IES)

1. **Federal Insurance Company**
   - (25m)
   - Policy Period: May 21, 2015 to May 21, 2016

2. **Liberty Insurance Underwriters Inc.**
   - (25m)
   - Policy Period: May 21, 2015 to May 21, 2016

3. **Berkshire Hathaway Specialty Insurance (25m)**
   - Policy Period: May 21, 2015 to May 21, 2016
   - (excess of items 1, 2, & 3, above)

4. **Aspen Bermuda Limited**
   - (25m)
   - Policy Period: May 21, 2015 to May 21, 2016
   - US$200,000,000 Per Occurrence General Aggregate

5. **XL Catlin**
   - (75m)
   - Policy Period: May 21, 2015 to May 21, 2016

6. **Great American Insurance Co. of NY**
   - (25m)
   - Policy Period: May 21, 2015 to May 21, 2016

7. **Argo Re**
   - (25m)
   - Policy Period: May 21, 2015 to May 21, 2016

8. **QBE Insurance Corporation**
   - (25m)
   - Policy Period: May 21, 2015 to May 21, 2016

9. **Allied World Assurance Company, AG**

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