**Insured:** International Business Machines Corporation  
**Policy No:** BM00029768LI16A  
**Endorsement No:** 1  
**Effective Date:** May 21, 2016

**SCHEDULE OF EXCESS POLICY (IES)**

**Section I – Schedule of Underlying Policy(ies)**

**A) Followed Policy**

| Type of Coverage | Insurer | Policy Number | Policy Period | Limit of Liability |
|------------------|---------|---------------|---------------|--------------------|
| **Umbrella**     | ACE Property & Casualty Insurance Company | May 21, 2016 - May 21, 2017 | USD 50,000,000 | each Occurrence, Claim or Loss |
|                  |         |               | USD 50,000,000 | Annual Aggregate (where applicable) |
|                  |         |               | USD 50,000,000 | Products/Completed Operations Aggregate |
|                  |         |               |              | Excess of underlying insurances and/or Self-insured retentions listed in the Schedule of Underlying and/or Schedule of Retained limits attached to the Followed Policy. |
| **Punitive Wrap Policy** | ACE Bermuda Insurance Ltd | May 21, 2016 - May 21, 2017 | USD 50,000,000 | each Occurrence, Claim or Loss |
|                  |         |               | USD 50,000,000 | Annual Aggregate (where applicable) |
|                  |         |               | USD 50,000,000 | Products/Completed Operations Aggregate |
|                  |         |               |              | Excess of underlying insurances and/or Self-insured retentions listed in the Schedule of Underlying and/or Schedule of Retained limits attached to the Followed Policy. |

Ref.: XSBSF03-001.01  
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