**Policy Number:** WE1500320

**AON SHORT EXCESS FORM (LONDON) 03-14 (OCC) (SELF PROCURED BASIS)**

**DECLARATIONS**

**Item 1.**
a) **Named Insured:** International Business Machines Corporation and as more fully set forth in the Followed Policy.
b) **Address of Named Insured:** IBM Corporation, One New Orchard Road, (Mail Drop 109), Armonk, New York 10504, United States of America.

**Item 2.** **Policy Period:**
From: 21st May 2015 at 12:01 a.m. standard time at the address of the Named Insured.
To: 21st May 2016 at 12:01 a.m. standard time at the address of the Named Insured.

**Item 3.**
a) **Followed Policy:**
Company: ACE Property & Casualty Insurance Company
Policy Number: XOOG2763848A
Coverage: Umbrella Liability
Policy Period: From: 21st May 2015 To: 21st May 2016
Limits of Liability: USD 50,000,000
b) **Underlying Policy(ies):** As per Endorsement Number One – Schedule of Underlying Policy(ies).

**Item 4.** **Limit of Liability: (Insuring Agreement 2):**
a) USD 200,000,000 each Occurrence.
b) USD 200,000,000 annual aggregate where stated in the Followed Policy.

**Item 5.** **Underlying Limits: (Insuring Agreement 2):**
a) USD 200,000,000 each Occurrence.
b) USD 200,000,000 annual aggregate where applicable.

Which in turn is excess of various insurances and/or retentions as more fully set forth in the Followed Policy.

**Market Submission - Wording**
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