**Named Insured:** International Business Machines Corporation

**Policy Number:** ECA1KFW15A0W

**Endorsement No.:** 1

**Effective Date:** May 21, 2015

**SCHEDULE OF EXCESS POLICY(IES)**

| Type of Coverage | Insurer Policy Number | Policy Period | Limits of Liability |
|------------------|-----------------------|---------------|---------------------|
| 1. Occurrence     | ACE Property & Casualty Insurance Company G2763848A | May 21, 2015 to May 21, 2016 | USD 50,000,000 Per Occurrence Annual Aggregate where applicable |
| 2. Occurrence     | Great American Ins. Co. of N.Y. EXC 2464956 | May 21, 2015 to May 21, 2016 | USD 25,000,000 Per Occurrence Annual Aggregate (excess of items 1 above) |
| 3. Occurrence     | Endurance Specialty Insurance Ltd. EXC10000024506 | May 21, 2015 to May 21, 2016 | USD 25,000,000 Per Occurrence Annual Aggregate where applicable (excess of items 1 & 2 above) |
| 4.a Occurrence    | Berkshire Hathaway Specialty Insurance 43-XSF-100238-02 | May 21, 2015 to May 21, 2016 | USD 25,000,000 Per Occurrence Annual Aggregate (excess of items 1,2 & 3 above) |
| 4.b Occurrence    | Federal Insurance Company 79665684 | May 21, 2015 to May 21, 2016 | USD 25,000,000 Per Occurrence Annual Aggregate (excess of items 1,2 & 3 above) |
| 4.c Occurrence    | The Ohio Casualty Insurance Company ECO (16) 54088246 | May 21, 2015 to May 21, 2016 | USD 25,000,000 Per Occurrence Annual Aggregate (excess of items 1,2 & 3 above) |
| 4.d Occurrence    | Liberty Insurance Underwriters Inc. 1000040626-14 | May 21, 2015 to May 21, 2016 | USD 25,000,000 Per Occurrence Annual Aggregate (excess of items 1,2 & 3 above) |