**EXCESS THIRD PARTY LIABILITY POLICY**

**A CAPITAL STOCK COMPANY**

**ST. PAUL FIRE AND MARINE INSURANCE COMPANY**

**ST. PAUL, MINNESOTA**

**DECLARATIONS**

**ITEM 1. INSURED'S NAME AND MAILING ADDRESS**

- International Business Machines Corp.
- Armonk, New York

**ITEM 2. POLICY PERIOD:**
- FROM: 5-21-73
- TO: 5-21-76

**ITEM 3. LOCATION OF COVERAGE:**
- Same As Above
- and as further defined in the Primary Policy.

**ITEM 4. PRIMARY INSURANCE:**
- INSURER'S NAME: See Endorsement
- POLICY NO.: (Including Renewals or Replacements)
- DESCRIPTION OF COVERAGE: Umbrella Liability

**ITEM 5. LIMITS OF LIABILITY:** The limit of the Company's liability shall be as stated herein, subject to all the terms of this Policy having reference thereto.

| SECTION I | IN EXCESS OF | SECTION II | SECTION III | COVERAGE |
|-----------|---------------|-------------|-------------|----------|
| COMPANY LIMITS | UNDERLYING LIMITS | TOTAL LIMITS | | |
| Each Person | | | | A. Bodily Injury Automobile |
| Each Accident or Occurrence | | | | |
| Each Person | | | | B. Bodily Injury Except Automobile |
| Each Accident or Occurrence | | | | |
| Aggregate Products | | | | C. Property Damage Auto |
| Each Accident or Occurrence | | | | |
| Each Accident or Occurrence | | | | D. Property Damage Except Automobile |
| Aggregate Operations | | | | |
| Aggregate Protective | | | | |
| Aggregate Products | | | | |
| Aggregate Contractual | | | | |
| Each Accident or Occurrence | | | | E. Combined Single Limit Bodily Injury and/or Property Damage |
| Aggregate | | | | F. Other |

**ITEM 6. PREMIUM COMPUTATION:** Three Year Prepaid

| PREMIUM BASIS | ESTIMATED EXPOSURE | RATE | ESTIMATED PREM. | DEPOSIT PREM. | MINIMUM PREM. | AUDIT PERIOD |
|---------------|---------------------|------|------------------|---------------|----------------|--------------|
| | | | 5,000.00 | 5,000.00 | 5,000.00 | |

**COUNTERSIGNATURE DATE:** 5/22/73
**COUNTERSIGNED AT:** New York, N.Y.
**J.W. BOYLSTON JR.**
**RESIDENT SECRETARY**
**AUTHORIZED REPRESENTATIVE**