# ENDORSEMENT #1

This endorsement, effective 12:01 AM: 5/21/2015

Forms a part of Policy No.: 43-XSF-100238-02

Issued to: International Business Machines Corporation

By: National Liability & Fire Insurance Company

## SCHEDULE OF EXCESS POLICY(IES)

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

This endorsement modifies insurance provided under the following:

FOLLOW FORM EXCESS LIABILITY POLICY

### Section I - Schedule of Underlying Policy(ies)

| Coverage | Insurer | Policy Period | Policy Number | Limits of Insurance | Retentions | Defense Treatment |
|----------|---------|---------------|---------------|---------------------|------------|-------------------|
| Excess Liability | Great American Insurance Co. of N.Y. | 5/21/2015 to 5/21/2016 | EXC 2464956 | $25,000,000 Each Occurrence | $25,000,000 General Aggregate | Defense Outside of Limits |
| Excess Liability | Endurance Specialty Insurance Ltd. | 5/21/2015 to 5/21/2016 | EXC 10000024506 | $25,000,000 Each Occurrence | $25,000,000 General Aggregate | Defense Outside of Limits |

### Section II - Schedule of Quota Share Policy(ies)

| Coverage | Insurer | Policy Period | Policy Number | Limits of Insurance | Retentions | Defense Treatment |
|----------|---------|---------------|---------------|---------------------|------------|-------------------|
| Umbrella Liability | ACE Property& Casualty Insurance Company | 5/21/2015 to 5/21/2016 | XOO G 27 63 84 8 A | $50,000,000 Each Occurrence | $50,000,000 General Aggregate | Defense outside of Limits |

All other terms and conditions of the policy remain unchanged.

**Authorized Representative OR Countersignature (in states where applicable)**

FF-XS-020-12/2014
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