# Excess Casualty Division
A Division of Navigators Management Company, Inc.
Sean Bergin
One Penn Plaza, 32nd Floor
New York, NY 10119

**Date:** 5/26/2020
**Email:** derek.aurori@aon.com

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**Derek Aurori**
AON Risk Services Northeast, Inc.
165 Broadway, Suite 3201
New York, NY 10006

**Re:** IBM Corporation
1 New Orchard Road
Armonk, NY 10504

**Policy Number:** NY20AXSZ056H1IV

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Dear Derek:

Thank you for the order!

Please consider this a confirmation that Navigators Excess is bound for IBM Corporation according to the following terms:

**Binder**

| Company: | Navigators Insurance Company - Admitted |
|----------|----------------------------------------|
| Coverage: | True Excess Liability Policy            |
| Policy Period: | 5/21/2020 to 5/21/2021                  |
| Limits: | $25,000,000 Each Occurrence or Event     |
|         | $25,000,000 Aggregate (where applicable) |
|         | $25,000,000 Products-Completed Operations Aggregate |
| Premium: | $136,000                               |
| Terrorism Premium: | $1,347 (included above)                 |
| Minimum Earned: | 25%                                     |
| Commission: | 0.00%                                   |

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**Class 2-13000 Risk**

**NOTICE:** THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS.