End 001-04/14
Form BSF-03
Page 4 of 5

**ADDITIONAL/RETURN PREMIUM: NIL**

**SCHEDULE OF EXCESS POLICY(IES) ENDORSEMENT**

| Excess | 5d | Argo Re Limited | May 21, 2016 – May 21, 2017 |
| --- | --- | --- | --- |
|  |  |  | US$25,000,000 each occurrence |
|  |  |  | US$25,000,000 general aggregate |
|  |  |  | Which is part of: |
|  |  |  | US$200,000,000 each occurrence |
|  |  |  | US$200,000,000 general aggregate |
|  |  |  | excess of items 4, above |

| Excess | 5e | Great American Assurance Co. | May 21, 2016 – May 21, 2017 |
| --- | --- | --- | --- |
|  |  |  | US$25,000,000 each occurrence |
|  |  |  | US$25,000,000 general aggregate |
|  |  |  | Which is part of: |
|  |  |  | US$200,000,000 each occurrence |
|  |  |  | US$200,000,000 general aggregate |
|  |  |  | excess of items 4, above |

| Punitive | 5e.p. | GAI Insurance Company, Ltd. | May 21, 2016 – May 21, 2017 |
| --- | --- | --- | --- |
|  |  |  | US$25,000,000 each occurrence |
|  |  |  | US$25,000,000 general aggregate |
|  |  |  | Which is part of: |
|  |  |  | US$200,000,000 each occurrence |
|  |  |  | US$200,000,000 general aggregate |
|  |  |  | excess of items 4, above |

| Excess | 5f | QBE Insurance Corporation | May 21, 2016 – May 21, 2017 |
| --- | --- | --- | --- |
|  |  |  | US$25,000,000 each occurrence |
|  |  |  | US$25,000,000 general aggregate |
|  |  |  | Which is part of: |
|  |  |  | US$200,000,000 each occurrence |
|  |  |  | US$200,000,000 general aggregate |
|  |  |  | excess of items 4, above |

| Punitive | 5f.p. | QBE Insurance (Europe) Limited |  |
| --- | --- | --- | --- |
|  |  |  | US$25,000,000 each occurrence |
|  |  |  | US$25,000,000 general aggregate |
|  |  |  | Which is part of: |
|  |  |  | US$200,000,000 each occurrence |
|  |  |  | US$200,000,000 general aggregate |
|  |  |  | excess of items 4, above |

The effective date of this endorsement is May 21, 2016
All other terms and conditions remain unchanged.
This endorsement is attached to and made a part of Policy No. IBM-0062/BSF03 of ACE Bermuda Insurance Ltd.

Issued to: International Business Machines Corporation
Date of Issue: August 24, 2016
By Authorized Representatives
End No. 1