# COMMERCIAL EXCESS LIABILITY DECLARATIONS

## ITEM 1
| POLICY NO | POLICY PERIOD | COVERAGE IS PROVIDED IN THE |
|-----------|---------------|------------------------------|
| CCU3967489 | From May 21, 2015 | QBE Insurance Corporation |
|           | To May 21, 2016 |                             |
| NAMED INSURED AND ADDRESS | AGENT OR BROKER |
| International Business Machines Corporation | Aon |
| One New Orchard Road, (Mail Drop 109) | 199 Water Street, 33rd Floor |
| Armonk, NY 10504 | New York, NY 10038 |


**POLICY PERIOD:** THE POLICY PERIOD WILL BEGIN AND END AT 12:01 AM STANDARD TIME AT THE ADDRESS OF THE FIRST NAMED INSURED

**THIS POLICY CONSISTS OF THESE DECLARATIONS, THE COMMERCIAL EXCESS LIABILITY COVERAGE FORM, AND ANY ENDORSEMENTS INDICATED AS APPLICABLE IN THESE DECLARATIONS**

## ITEM 2
### A. LIMITS OF INSURANCE:
- EACH OCCURANCE LIMIT: $25,000,000
- GENERAL AGGREGATE LIMIT: $25,000,000
- PRODUCTS AND COMPLETED OPERATIONS AGGREGATE LIMIT: $25,000,000

### QUOTA SHARE PART OF:
- EACH OCCURANCE LIMIT: $200,000,000
- GENERAL AGGREGATE LIMIT: $200,000,000
- PRODUCTS AND COMPLETED OPERATIONS AGGREGATE LIMIT: $200,000,000

### B. LIMITS OF UNDERLYING INSURANCE:
- EACH OCCURANCE LIMIT: $200,000,000
- GENERAL AGGREGATE LIMIT: $200,000,000
- PRODUCTS AND COMPLETED OPERATIONS AGGREGATE LIMIT: $200,000,000

## ITEM 3
- COMMERCIAL EXCESS LIABILITY PREMIUM: $71,000
- MINIMUM EARNED PREMIUM: Not Applicable

## NYFTZ Class Code 2-13000
**NOTICE:** THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE [DEPARTMENT] LAW AND REGULATIONS. HOWEVER, [SUCH] THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS.

XS 70 05 09 11
Date of Issuance: 7/15/2015