**Insured:** International Business Machines Corporation  
**Policy No.:** UFP0044276-05  
**Endorsement No.:** 1  
**Effective Date:** May 21, 2016

---

**SCHEDULE OF UNDERLYING POLICY(IES)**

| 5. Excess Liability | Aspen Bermuda Limited (25m) | US$200,000,000 | US$200,000,000 | Per Occurrence General Aggregate |
|---------------------|------------------------------|----------------|----------------|--------------------------------|
| Excess Liability     | XL Catlin (75m)              | Policy Period: May 21, 2016 to May 21, 2017 |
| Excess Liability     | Great American Assurance Co. (ACIS) (25m) | Policy Period: May 21, 2016 to May 21, 2017 |
| Punitive Damages     | GAI Insurance Company, Ltd. | Policy Period: May 21, 2016 to May 21, 2017 |
| Excess Liability     | Argo Re (25m)                | Policy Period: May 21, 2016 to May 21, 2017 |
| Excess Liability     | QBE Insurance Corporation (25m) | Policy Period: May 21, 2016 to May 21, 2017 |
| Punitive Damages     | QBE Insurance (Europe) Limited | Policy Period: May 21, 2016 to May 21, 2017 |
| Excess Liability     | Allied World Assurance Company, AG (25m) | Policy Period: May 21, 2016 to May 21, 2017 |

(excess of items 1, 2, 3, & 4, above)

Page 3 of 4

Arch Insurance