**The Fidelity and Casualty Company**

*Insert Name of Company*

80 Maiden Lane, New York, N.Y.

Johnson & Higgins

Insurance Brokers
Employee Benefit Plan Consultants
95 Wall St., New York 10005
WH 4-3160

EXCESS POLICY
DECLARATIONS

Policy Number LX 1 21 75 12

**ITEM 1. NAMED INSURED:** INTERNATIONAL BUSINESS MACHINES CORP.

**ITEM 2. ADDRESS:** ARMONK, NEW YORK
(Number and Street, Town or City, County and State)

**ITEM 3. POLICY PERIOD:** From 12:01 o'clock A.M., MAY 21, 1970 to MAY 21, 1973
(12:01 A.M., standard time at the address of the named insured as stated herein.)

**ITEM 4. UNDERLYING INSURANCE (Designate Carrier and Policy Number):**
CONTINENTAL CASUALTY COMPANY RDU 9433466
AMERICAN HOME ASSURANCE CO. CE 355452

**ITEM 5. LIMIT OF LIABILITY:** $5,000,000. IN EXCESS OF ITEM 6 BELOW

**ITEM 6. UNDERLYING LIMIT (Total):** $145,000,000 IN EXCESS OF PRIMARY INSURANCE AS DESCRIBED IN CONTINENTAL CASUALTY COMPANY'S POLICY No. RDU 9433466 AND AMERICAN HOME ASSURANCE CO. POLICY No. CE355452

**ITEM 7. PREMIUM:** U.S. $5813.23
CANADA 186.77 (SEE ENDT. NO.2)
6000.00

Countersigned by: [Signature]