# GEUBE/PACIFIC INDEMNITY GROUP DECLARATIONS

**EXCESS LIABILITY POLICY**

**Item 1. Policy Number:** 7922-13-06
**Producer Number:** 55223
**Policy Number:** 79225677

**Item 2. Named Insured & Address:**
International Business Machines Corp.
Armonk, New York

**Item 3. Policy Period:**
From: May 21, 1976
To: May 21, 1977
(12:01 A.M. standard time at the address of the Named Insured)

**Item 4. Premium:** $10,000.
**Premium Basis:**
Rate:

**Item 5. Limit of Liability:**
The Company's Liability, under this policy, shall not exceed the greater of the following amounts:
A. 25% of the LOSS in excess of all UNDERLYING INSURANCE nor for more than
B. $5,000,000. per occurrence or;
C. $5,000,000. Annual aggregate (as defined in the First UNDERLYING INSURANCE policy)

**Item 6. Schedule of UNDERLYING INSURANCE:**

First UNDERLYING INSURANCE policy:
American Home
Policy #: to come
2/1/76-2/1/77
$8,000,000. each occurrence
$8,000,000. ann/agg.
where applicable

Other UNDERLYING INSURANCE:
Various Companies
5/21/76-5/21/77
$10,000,000. each occurrence
$10,000,000. ann/agg.
where applicable
in excess of the first Underlying Insurance

**Issued at:** 100 William Street, New York, N.Y.
**Date:** April 29, 1976
**Authorized Representative:** [Signature]