# Schedule of Underlying Policy (IES)

**Insured:** International Business Machines Corporation  
**Policy No.:** UFP0044276-04  
**Endorsement No.:** 1  
**Effective Date:** May 21, 2015

## Schedule of Underlying Policy (IES)

**(25m)**  
Policy Period: May 21, 2015 to May 21, 2016  
(excess of items 1, 2, 3, & 4, above)  

### 6. Excess Liability  
- **Aspen Bermuda Limited**  
  - **(25m)**  
  - **Policy Period:** May 21, 2015 to May 21, 2016  
  - **US$50,000,000**  
    - **Per Occurrence**  
    - **General Aggregate**

### 7. Excess Liability  
- **Iron-Starr Excess Agency Ltd**  
  - **(25m)**  
  - **Policy Period:** May 21, 2015 to May 21, 2016  
  - **US$50,000,000**  
    - **Per Occurrence**  
    - **General Aggregate**  
  (excess of items 1, 2, 3, 4, 5 & 6, above)

## Section II – Schedule of Quota-Share Policy(ies): Not Applicable  

All other terms and conditions of this Policy remain unchanged.

**Arch Reinsurance Ltd.**

**By:**  
**Title:** Senior Vice President  
**Underwriting Manager, Excess Casualty**  
**Date:** July 20, 2015  
**Ref:** BSF-4000 Ed. 11/11  

Page 3 of 3