**AON**

VIA ELECTRONIC MAIL

August 17, 2016

Ms. Kathleen Ireland  
Risk Manager, IBM CHQ  
Global Risk & Insurance Management  
International Business Machines Corporation  
One New Orchard Road  
Armonk, New York 10504  
USA  

Re: International Business Machines Corporation  
Argo Re  
Policy No.: ARGO-CAS-OCC-000888.1  
Policy Period: May 21, 2016 – May 21, 2017  

Dear Ms. Ireland,

We are pleased to enclose the declarations page, policy form and endorsement nos. 1 to 3 which attach to and form part of the above captioned policy. The endorsements are listed below:

Endt. No. 1  
SCHEDULE OF EXCESS POLICY(IES)  
Eff. May 21/16  

Endt. No. 2  
SEVERAL LIABILITY NOTICE  
Eff. May 21/16  

Endt. No. 3  
PREMIUM PAYMENT CONDITION  
Eff. May 21/16  

Please refer to the actual endorsement for exact terms and conditions.

We trust that you will find the attached to be in good order; however, should you have any questions please do not hesitate to contact our offices.

Sincerely,

Chris Heinicke  
Senior Vice President  

CH/jr  

Encl.  

cc: Nick Moore – Aon Risk Services, Inc. of New York  

Aon Risk Solutions  
Aon House | 30 Woodbourne Avenue | Pembroke HM08 | Bermuda  
P.O. Box HM 2020 | Hamilton HM HX | Bermuda  
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Aon (Bermuda) Ltd.