**Insured:** International Business Machines Corporation

**Policy No.:** BM00028732L15A

**Endorsement No.:** 1

**Effective Date:** May 21, 2015

**XL CATLIN**

**SCHEDULE OF EXCESS POLICY (IES)**

| Item No. | Type of Coverage | Insurer Policy Number | Policy Period | Limit of Liability |
|----------|------------------|-----------------------|---------------|--------------------|
| 4.       | Excess Liability | The Ohio Casualty Insurance Company ECO (16) 54088246 May 21, 2015 - May 21, 2016 | USD 25,000,000 part of USD 100,000,000 | each Occurrence, Claim or Loss |
|          |                  |                       |               | USD 25,000,000 part of $ 100,000,000 | Annual Aggregate (where applicable) |
|          |                  |                       |               | USD 25,000,000 part of USD 100,000,000 | Excess of Item 3 above |
|          |                  |                       |               | USD 25,000,000 part of USD 100,000,000 | each Occurrence, Claim or Loss |
|          |                  |                       |               | USD 25,000,000 part of USD 100,000,000 | Annual Aggregate (where applicable) |
|          |                  |                       |               | Excess of Item 3 above |
|          |                  |                       |               | USD 25,000,000 part of USD 100,000,000 | each Occurrence, Claim or Loss |
|          |                  |                       |               | USD 25,000,000 part of USD 100,000,000 | Annual Aggregate (where applicable) |
|          |                  |                       |               | Excess of Item 3 above |
|          |                  |                       |               | USD 25,000,000 part of USD 100,000,000 | each Occurrence, Claim or Loss |
|          |                  |                       |               | USD 25,000,000 part of USD 100,000,000 | Annual Aggregate (where applicable) |
|          |                  |                       |               | Excess of Item 3 above |

**Ref.: XSBSF03-001.01**

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