**Insured:** International Business Machines Corporation  
**Policy No.:** BM00028732LI15A  
**Endorsement No.:** 1  
**Effective Date:** May 21, 2015

**SCHEDULE OF EXCESS POLICY(IES)**

| Excess Liability | QBE Insurance Corporation CCU3967489 May 21, 2015 – May 21, 2016 | USD 25,000,000 part of USD 200,000,000 USD25,000,000 part of USD 200,000,000 | each Occurrence, Claim or Loss Annual Aggregate (where applicable) Excess of Item 4 above |

The terms, declarations, insuring agreements, definitions, exclusions and conditions of this Policy otherwise remain unchanged.

**XL INSURANCE (BERMUDA) LTD**

By: **Authorized Representative**  
**Date:** July 21, 2015

Ref.: XSBSF03-001.01  
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