# Allied World

**Endorsement No:** 1  
**This endorsement, effective:** May 21, 2016 (at 12:01 A.M. prevailing time at the address of the Named Insured as shown in Item 1(b) of the Declarations)

**forms a part of Policy No:** C018124/004  
**Issued to:** International Business Machines Corporation

## Wrap-around policy

- **Part of:** USD100,000,000 Per Occurrence
- **Part of:** USD100,000,000 Aggregate

### Excess Liability
- **Liberty Insurance Underwriters Inc.**
  - **May 21, 2016 to May 21, 2017**
    - **USD25,000,000 Each Occurrence**
    - **USD25,000,000 Products Completed Operations Aggregate General Aggregate**

## Part of
- **USD100,000,000 Each Occurrence**
- **USD100,000,000 Products Completed Operations Aggregate**
- **USD100,000,000 General Aggregate**

### Companion Policy(ies)
- **Magna Carta Insurance, Ltd.**
  - **Punitive damages wrap-around policy**
    - **May 21, 2016 to May 21, 2017**
      - **USD25,000,000 Each Occurrence**
      - **USD25,000,000 Aggregate (where applicable)**

## Part of
- **USD100,000,000 Each Occurrence**
- **USD100,000,000 Aggregate (where applicable)**

**Ref:** ACBSF-401c (AWAC Ed. 11/14)

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