**ZURICH INSURANCE COMPANY**
**AMERICAN GUARANTEE AND LIABILITY INSURANCE COMPANY**
**ZURICH OF ILLINOIS**

**AUDIT ADJUSTMENT OF PREMIUM**
**DATE:** 10/1/89

| POLICY NO. | AGENCY NO. | AGENCY NAME |
|------------|------------|-------------|
| 89 06 923  | 50 515 810 | JOHNSON & HIGGINS |

**NAME AND ADDRESS OF INSURED:**
INTERNATIONAL BUSINESS MACHINES CORP.
ARMONK, NEW YORK

**PERIOD OF AUDIT:** 5/21/79 TO 5/21/80
**EXPIRATION DATE:** 
**DATE OF CANCEL:** 

| STATE | CLASSIFICATION OF OPERATION | CLASS N NO. | PAYROLL SALES (IN OTHER) | RATE | PREMIUM |
|-------|------------------------------|--------------|--------------------------|------|---------|
| VAR   | RETRO                        | S            | 5,008,449,489.          | PER M | 967,632. |
|       | COMPOSITE SALES              | E            |                          | .07216 | 361,410. |

**TOTAL:** 1,329,042.

**ADJUSTED POSTED OTHER PREMIUM:** 965,235.
**ADDITIONAL PREMIUM:** 363,807.

**REVIEWED PREMIUM:** 965,235.
**MM:** 009644