# 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:** ISO002343

**Issued to:** International Business Machines Corporation

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

## SCHEDULE OF EXCESS POLICIES (cont'd)

### Section I - Schedule of Underlying Policies:

6. **Excess Casualty**
   - **Aspen Bermuda Limited**
     - **May 21, 2015 – May 21, 2016**
       - **USD 25,000,000**
         - **Per Occurrence**
         - **General Aggregate**
         - **Part of USD 50,000,000**
   - **Allied World Assurance Company, AG**
     - **May 21, 2015 – May 21, 2016**
       - **USD 25,000,000**
         - **Per Occurrence**
         - **General Aggregate**
         - **Products-Completed Operations Aggregate**
         - **(excess of items 1–5, above)**

All other terms, conditions, limitations and exclusions of this Policy remain unchanged.

**Authorized Representative**

Date of issuance: July 28, 2015
ISEABSF (09/13)
1 2011 ISEABSF Schedule of Excess Policies (09/13).doc