# Endorsement No: 1

**This endorsement, effective:** May 21, 2015 (at 12:01 A.M., prevailing time at the address of the Named Insured as shown in Item 1(b) of the Declarations)

**forms a part of Policy No:** IS0002343

**Issued to:** International Business Machines Corporation

**by:** Iron-Starr Excess Agency Ltd.

## SCHEDULE OF EXCESS POLICIES (cont’d)

### Section I - Schedule of Underlying Policies:

5. **Excess Casualty**
   - **Insurer:** Argo Re
   - **Effective Date:** May 21, 2015 – May 21, 2016
   - **Limit of Liability:** USD 25,000,000
   - **Coverage:** Each Occurrence, Annual Aggregate
   - **Part of:** USD 200,000,000

6. **Great American Inc. Co. of N.Y.**
   - **Effective Date:** May 21, 2015 – May 21, 2016
   - **Limit of Liability:** USD 25,000,000
   - **Coverage:** Each Occurrence, General Aggregate, Products/Completed Operations Aggregate
   - **Part of:** USD 200,000,000

7. **QBE Insurance Corporation**
   - **Effective Date:** May 21, 2015 – May 21, 2016
   - **Limit of Liability:** USD 25,000,000
   - **Coverage:** Each Occurrence, General Aggregate, Products Completed Operations Aggregate
   - **Part of:** USD 200,000,000

8. **Aspen Bermuda Limited**
   - **Effective Date:** May 21, 2015 – May 21, 2016
   - **Limit of Liability:** USD 25,000,000
   - **Coverage:** Per Occurrence, General Aggregate
   - **Part of:** USD 200,000,000

9. **Allied World Assurance Company, AG**
   - **Effective Date:** May 21, 2015 – May 21, 2016
   - **Limit of Liability:** USD 25,000,000
   - **Coverage:** Per Occurrence, General Aggregate, Products-Completed Operations Aggregate
   - **Part of:** USD 200,000,000

10. **XL Insurance (Bermuda) Ltd.**
    - **Effective Date:** May 21, 2015 – May 21, 2016
    - **Limit of Liability:** USD 75,000,000
    - **Coverage:** Per Occurrence, General Aggregate, Products/Completed Operations Aggregate
    - **Part of:** USD 200,000,000
    - **(excess of items 1–4, above)**

**Date of Issuance:** July 28, 2015

ISEABSF (09/13)

1 2011 ISEABSF Schedule of Excess Policies (09 13).doc