# Declarations

## Excess Liability Policy

**Policy Number:** HXL- 1 64 01 95

**Insured by the Stock Company checked below and hereinafter called the Company**

- The Home Insurance Company (Manchester, New Hampshire)
- City Insurance Company (Short Hills, New Jersey)
- The Home Indemnity Company (Manchester, New Hampshire)
- The Home Insurance Company of Indiana (Indianapolis, Indiana)

**Item 1. Named Insured and Mailing Address (No Street, Town or City, County, State, Zip Code):**

- International Business Machines Corp., Etal.
- Armonk, New York 10504

**Producer Name:** Johnson & Higgins

**Policy Period:**

- From (Mo - Day - Yr): 5-21-85
- To (Mo - Day - Yr): 5-21-86
- 12:01 A.M. Standard Time at the address of the Named Insured.

**Item 2. Policy Premium:**

- $54,000.00
- Rate: In Advance
- Policy Minimum Premium: $40.00
- 1st Anniversary: $
- 2nd Anniversary: $

**Item 3. Limits of Liability:**

The Company's liability under this policy shall not exceed the following Limit:

- 30 Percent of the ultimate Net Loss in excess of all underlying insurance but for no greater amount than:
- $12,000,000. Each Occurrence
- $12,000,000. Annual Aggregate as defined in the First Underlying Insurance Policy

**Item 4. Schedule of Underlying Insurance:**

First Underlying Insurance Policy:

- Carrier, Policy No. and Term: Centennial
- To Be Advised
- 5-21-85 - 86
- Applicable Limit: $2,000,000. Each Occurrence
- $2,000,000. Annual Aggregate (where applicable)

Other Underlying Insurance:

- Various
- Applicable Limit: $58,000,000. Each Occurrence
- $58,000,000. Annual Aggregate (where applicable)

**Subject to forms attached hereto (enter form number and edition dates):**

- H35269F Ed. 5-83; H22300FH (S) Rev. 11-81; H35591F Ed. 9-83

**Do Not Write In This Box:**

- Countersigned at: New York, N.Y.
- Issue Date: 6-19-85 sm
- Authorized Representative Signature: [Signature]
- Countersign Date: 6-19-85

**Insured's Copy**