# Arch Insurance

## THE BERMUDA SHORTS FORM

**POLICY NO.:** UFP0044276-05  
**RENEWAL OF:** UFP0044276-04

## DECLARATIONS

### Item 1.
a) **Named Insured:** International Business Machines Corporation  
b) **Address of Named Insured:** One New Orchard Road (MD 109), Armonk, NY 10504, USA

### Item 2.
**Policy Period:**  
From: May 21, 2016 at 12:01 am standard time at the address of the Named Insured.  
To: May 21, 2017 at 12:01 am standard time at the address of the Named Insured.

### Item 3.
**Retroactive Date:** None

### Item 4.
a) **Followed Policy:**  
   - **Company:** ACE Property & Casualty Insurance Company  
   - **Policy Number:** XOO G27983212 001  
   - **Coverage:** Lead Umbrella  
   - **Policy Period:** From: May 21, 2016 To: May 21, 2017  
   - **Limits of Liability:** $50,000,000 Each Occurrence, $50,000,000 General Aggregate, $50,000,000 Products Completed-Operations Aggregate  

b) **Underlying Policy(ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section I - Schedule of Underlying Policy(ies)

c) **Quota-Share Policy(ies):** As per Endorsement No. 1 Schedule of Excess Policy(ies) Section II – Schedule of Quota-Share Policy(ies)

### Item 5.
**Limit of Liability:** (Insuring Agreement 2):  
a) US$50,000,000 each Occurrence, Claim or Loss  
b) US$50,000,000 Aggregate (where applicable)

### Item 6.
**Underlying Limits:** (Insuring Agreement 2):  
a) US$500,000,000 each Occurrence, Claim or Loss  
b) US$500,000,000 Aggregate (where applicable)

Which in turn is excess of various insurances and/or retentions as more fully set forth in the Followed Policy

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BSF-03 (Ed. 03/14)