End 001-04/14
Form BSF-03
Page 3 of 5

**ADDITIONAL/RETURN PREMIUM: NIL**

**SCHEDULE OF EXCESS POLICY(IES) ENDORSEMENT**

| Punitive | 4c.p. | Berkshire Hathaway International Insurance Limited | May 21, 2017 – May 21, 2018 |
|----------|-------|--------------------------------------------------|----------------------------|
|          | US$25,000,000 each occurrence                     | US$25,000,000 general aggregate |
|          |        | Which is part of:                               | US$100,000,000 each occurrence |
|          |        |                                                  | US$100,000,000 general aggregate excess of item 3, above |

| Excess   | 4d    | Federal Insurance Company                        | May 21, 2017 – May 21, 2018 |
|----------|-------|--------------------------------------------------|----------------------------|
|          | US$25,000,000 each occurrence                     | US$25,000,000 general aggregate |
|          |        | Which is part of:                               | US$100,000,000 each occurrence |
|          |        |                                                  | US$100,000,000 general aggregate excess of item 3, above |

| Punitive | 4d.p. | Chubb Bermuda Insurance Ltd.                      | May 21, 2017 – May 21, 2018 |
|----------|-------|--------------------------------------------------|----------------------------|
|          | US$25,000,000 each occurrence                     | US$25,000,000 general aggregate |
|          |        | Which is part of:                               | US$100,000,000 each occurrence |
|          |        |                                                  | US$100,000,000 general aggregate excess of item 3, above |

| Excess   | 5a    | XL Insurance (Bermuda) Ltd.                       | May 21, 2017 – May 21, 2018 |
|----------|-------|--------------------------------------------------|----------------------------|
|          | US$75,000,000 each occurrence                     | US$75,000,000 general aggregate |
|          |        | Which is part of:                               | US$200,000,000 each occurrence |
|          |        |                                                  | US$200,000,000 general aggregate excess of items 4, above |

| Excess   | 5b    | Aspen Bermuda Limited                             | May 21, 2017 – May 21, 2018 |
|----------|-------|--------------------------------------------------|----------------------------|
|          | US$25,000,000 each occurrence                     | US$25,000,000 general aggregate |
|          |        | Which is part of:                               | US$200,000,000 each occurrence |
|          |        |                                                  | US$200,000,000 general aggregate excess of items 4, above |

The effective date of this endorsement is ___________ May 21, 2017
All other terms and conditions remain unchanged.
This endorsement is attached to and made a part of Policy No. ______ IBM-0122/BSF03
of Chubb Bermuda Insurance Ltd.

Issued to: International Business Machines Corporation
Date of Issue: June 13, 2017
By ___________ Authorised Representatives
End No. 1