# Aetna Excess Overlayer Indemnity Policy

## The Aetna Casualty and Surety Company
Hartford, Connecticut 06156
(a stock insurance company, herein called "Aetna Casualty")

IN CONSIDERATION of the payment of the premium and subject to all of the terms of this policy, agrees with the Insured named in the declarations as follows:

### Section 1. Declarations
- **Policy Number:** 001 XN 24916021 SCA
- **Named Insured and Address:**
  - INTERNATIONAL BUSINESS MACHINES CORP.
  - OLD ORCHARD ROAD,
  - ARMONK,
  - NY 10504
- **Policy Period:**
  - FROM: 05/21/95
  - TO: 05/21/96
  - 12:01 a.m. STANDARD TIME AT THE ADDRESS OF INSURED

### Limits of Liability
- 60.00% ($15,000,000 MAXIMUM) QUOTA SHARE OF $25,000,000 EACH OCCURRENCE
- 60.00% ($15,000,000 MAXIMUM) QUOTA SHARE OF $25,000,000 ANNUAL AGGREGATE WHERE APPLICABLE

### Premium
- **Flat Charge**
- Minimum Premium:
- Total Advance Premium: $104,127.00

### Endorsements
- XN13202 1191 SECTION 2. INDEMNITY AGREEMENT
- XN13203 1191 SECTION 3. SCHEDULE OF UNDERLYING SELF-INSURANCE AND INSURANCE
- XN13204 1191 SECTION 4. CONDITIONS
  - CONTINUED NEXT PAGE

### Countersignature
This policy is not valid unless countersigned by a duly authorized Agent of such company.

**Authorized Agent:** [Signature]
**Countersignature Date:** [Date]

Signed for the above Company as insurer by:
- **Secretary:** [Signature]
- **President:** [Signature]

16373 (11-91)