**AON**

VIA ELECTRONIC MAIL

September 20, 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  
Chubb Bermuda Insurance Ltd.  
Policy No.: IBM-0062/BSF03  
Policy Period: May 21, 2016 – May 21, 2017  

Dear Ms. Ireland,

We are please to enclose the declarations page, policy form and endorsement nos. 1 to 5 which attach to and form part of the above captioned policy.

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

Endt. No. 2  
PREMIUM PAYMENT CONDITION ENDORSEMENT  
Eff. May 21/16  

Endt. No. 3  
FOLLOWING FORM POLICY ISSUANCE ENDORSEMENT  
Eff. May 21/16  

Endt. No. 4  
CANCELLATION ENDORSEMENT  
Eff. May 21/16  

Endt. No. 5  
RECEIPT OF FOLLOWED POLICY ENDORSEMENT  
Eff. May 21/16  

Please refer to the actual endorsements 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,

Christopher Heinicke  
Managing Director, Casualty  

CH/cd  

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  
t +1.441.295.2220 | d +1.441.278.1213 | f +1.441.292.3244 | aon.com  
Aon (Bermuda) Ltd.