# Allied World

**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:** C018124/003  
**Issued to:** International Business Machines Corporation  
USD200,000,000

## 5e. Excess Liability

- **Argo Re**
  - **May 21, 2015 to May 21, 2016**
    - USD25,000,000 Each Occurrence
    - USD25,000,000 Products Completed Operations Aggregate
    - USD25,000,000 General Aggregate
  - **Part of**
    - USD200,000,000 Each Occurrence
    - USD200,000,000 Products Completed Operations Aggregate
    - USD200,000,000 General Aggregate

## 5f. Excess Liability

- **XL Insurance (Bermuda) Ltd.**
  - **May 21, 2015 to May 21, 2016**
    - USD75,000,000 Each Occurrence
    - USD75,000,000 Products Completed Operations Aggregate
    - USD75,000,000 General Aggregate
  - **Part of**
    - USD200,000,000 Each Occurrence

**Ref:** ACBSF-401 (AWAC Ed. 06/14)
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