# Binder Subjectivities

**Re:** IBM CORPORATION

**Coverage:** U.S. Short Excess Form Excess Liability

**Policy Number:** AFX 0953286-00.

This binder is subject to the Underwriter's receipt, review, and acceptance of the following information:

- All scheduled underlying carriers must be rated by AM Best and have a rating of A- VII or better
- Complete copy of the lead policy within 60 days. Forms and/or premium may be revised upon review
- Complete copy of intervening layer policies within 60 days. Forms and/or premium may be revised upon review
- Complete copy of the GL policy and Declaration pages of Auto & EL with underlying limits within 60 days. Forms and/or premium may be revised upon review
- Complete copy of quota share partner policies within 60 days. Forms and/or premium may be revised upon review

The insurer may withdraw or modify this agreement to bind coverage if:

1. The information requested above materially changes the Underwriter's risk analysis, or
2. A material change in the risk occurs between the date of this proposal and the effective date of the proposed policy (including condition of the applicant or an occurrence or event which could change the underwriting evaluation of the application).

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