# CHUBB

**POLICY NO.** IBM-0122/BSF03

## THE BERMUDA SHORTS FORM – 03 (03/14)

### DECLARATIONS

#### Item 1.
a) **Named Insured:** International Business Machines Corporation
b) **Address of Named Insured:** One New Orchard Road, 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:** None

#### Item 4.
a) **Followed Policy:**
   - **Company:** ACE Property & Casualty Insurance Company
   - **Policy Number:** XOO G27983212 002
   - **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:**
a) USD 50,000,000 each Occurrence, Claim or Loss Aggregate
b) USD 50,000,000

#### Item 6.
**Underlying Limits:**
a) USD 550,000,000 each Occurrence, Claim or Loss Aggregate
b) USD 550,000,000

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

**BSF-03**