**Insured:** International Business Machines Corp.

**Policy No:** UFP0021773-00

**Endorsement No.:** 10

**Effective Date:** May 21, 2007

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**ENDORSEMENT PROVIDING SEPARATE AGGREGATE LIMITS**

**Separate Annual Aggregate Limit** | **Amount**
--- | ---
1. Products / Completed Operations Aggregate | US$ 25,000,000

All other terms and conditions of this Policy remain unchanged.

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**Arch Reinsurance Ltd.**

**By:** [Signature]

**Title:** Senior Vice President  
Underwriting Manager  
Excess Casualty

**Date:** September 6, 2007

**Ref:** OCXS4016 Ed. 4/1/02

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**Arch Reinsurance Ltd.**