# ASPEN BERMUDA SHORTS FORM - 03 (03/14)

## DECLARATIONS

**Item 1.**
- **a) Named Insured:** International Business Machines Corporation
- **b) Address of Named Insured:** One New Orchard Road, Mail Drop 109, Armonk, NY 10504

**Item 2. Policy Period:**
- From: May 21, 2015 at 12:01 am standard time at the address of the Named Insured.
- To: May 21, 2016 at 12:01 am standard time at the address of the Named Insured.

**Item 3. Retroactive Date:** Not Applicable

**Item 4.**
- **a) Followed Policy:**
  - Company: ACE Property & Casualty Insurance Company
  - Policy Number: G2763848A
  - Coverage: Lead Umbrella - Occurrence
  - Policy Period: From: May 1, 2015 To: May 1, 2016
  - Limits of Liability:
    - USD 25,000,000 each Occurrence, Claim or Loss
    - USD 25,000,000 Aggregate
- **b) Underlying Policy(ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section I - Schedule of Underlying Policy(ies)
- **c) Quota Share Policy(ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section II - Schedule of Quota Share Policy(ies)

**Item 5. Limit of Liability:**
- (Insuring Agreement 2):
  - USD 25,000,000 each Occurrence, Claim or Loss
  - USD 25,000,000 Aggregate

**Item 6. Underlying Limits:**
- (Insuring Agreement 2):
  - USD 400,000,000 each Occurrence, Claim or Loss
  - USD 400,000,000 Aggregate
  - Which in turn is excess of various insurances and/or retentions as more fully set forth in the Followed Policy

**Date of Issuance:** July 14, 2015
**BSF-03 (Ed. 03/14)**

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