**American International Reinsurance Company, Ltd.**

27 Richmond Road
Pembroke, HM08
Bermuda

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**POLICY NO.: 60703940**
**NEW BUSINESS/RENEWAL OF: 60703940**

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**THE BERMUDA SHORTS FORM - 03 (03/14)**

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### DECLARATIONS

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

**Item 2.** **Policy Period:**
- From: May 21, 2017 at 12:01 am standard time at the address of the Named Insured.
- To: May 21, 2018 at 12:01 am standard time at the address of the Named Insured.

**Item 3.** **Retroactive Date:** Not Applicable

**Item 4.**
- **a) Followed Policy:**
  - **Company:** ACE Property & Casualty Insurance Company
  - **Policy Number:** 
  - **Coverage:** Lead Umbrella - Occurrence
  - **Policy Period:** From: May 21, 2017 To: May 21, 2018
  - **Limits of Liability:** USD 50,000,000 Each Occurrence USD 50,000,000 General Aggregate USD 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) USD 50,000,000 each Occurrence, Claim or Loss**
- **b) USD 50,000,000 Aggregate**

**Item 6.** **Underlying Limits: (Insuring Agreement 2):**
- **a) USD 650,000,000 each Occurrence, Claim or Loss**
- **b) USD 650,000,000 Aggregate**

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

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**AMERICAN INTERNATIONAL REINSURANCE COMPANY, LTD.**
27 Richmond Road
Pembroke, HM08
Bermuda

©AIG, Inc. All rights reserved.