**Insured:** International Business Machines Corp.

**Policy No.:** UFP0021773-00

**Endorsement No.:** 9

**Effective Date:** May 21, 2007

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**NON-FOLLOWED ENDORSEMENT**

In consideration of the premium charged, it is agreed that the following is added to Item 7. of the Declarations:

**Item 7. Followed Policy:**
Endorsements this Policy does not follow:

| Endorsement No. | Endorsement Title |
|-----------------|-------------------|
| 1               | Schedule A – Approved Crisis management Firms |
| 2               | Uninsured/Underinsured Motorists Coverage Endorsement |
| 20              | New York Amendatory Endorsement |

It is further agreed that the Company shall not recognize the reduction or the exhaustion of the Limits of Liability of the Followed Policy and any underlying policies that are excess of the Followed Policy but underlying to this Policy, which results from the payment of any claim or claims in respect to coverage(s) provided under the Endorsement(s) listed above.

All other terms and conditions of this Policy remain unchanged.

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**Arch Reinsurance Ltd.**

By: _______________________
Title: Senior Vice President
Underwriting Manager
Excess Casualty

Date: September 6, 2007
Ref: OCXS 4008 Ed. 4/1/02

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