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

**ADDITIONAL/RETURN PREMIUM: NIL**

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

| Punitive | 5f.p. | Magna Carta 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$200,000,000 each occurrence |
|  |  |  | US$200,000,000 general aggregate |
|  |  |  | excess of items 4, above |

| Excess | 6a | 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$50,000,000 each occurrence |
|  |  |  | US$50,000,000 general aggregate |
|  |  |  | excess of items 5, above |

| Excess | 6b | Allied World Assurance Company, AG | May 21, 2017 – May 21, 2018 |
| --- | --- | --- | --- |
|  |  |  | US$25,000,000 each occurrence |
|  |  |  | US$25,000,000 general aggregate |
|  |  |  | Which is part of: |
|  |  |  | US$50,000,000 each occurrence |
|  |  |  | US$50,000,000 general aggregate |
|  |  |  | excess of item 5, above |

| Excess | 7 | Iron-Starr Excess Agency Ltd. | May 21, 2017 – May 21, 2018 |
| --- | --- | --- | --- |
|  |  |  | US$50,000,000 each occurrence |
|  |  |  | US$50,000,000 general aggregate |
|  |  |  | excess of items 6, above |

| Excess | 8 | Arch Insurance (Bermuda) | May 21, 2017 – May 21, 2018 |
| --- | --- | --- | --- |
|  |  |  | US$50,000,000 each occurrence |
|  |  |  | US$50,000,000 general aggregate |
|  |  |  | excess of item 7, above |

Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, conditions, exclusions or limitations of the Policy referenced below, except as expressly stated herein.

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 [Signature] Authorized Representatives
End No. 1