**Kemper Insurance Companies**

**LUMBERMENS MUTUAL CASUALTY COMPANY (LMC)**
- [X] AMERICAN MOTORISTS INSURANCE COMPANY (AMICO)
- [ ] AMERICAN MANUFACTURERS MUTUAL INSURANCE COMPANY (AMM)
- [ ] AMERICAN PROTECTION INSURANCE COMPANY (AMPICO)

The company providing the insurance afforded by this policy is indicated above.

**COMMERCIAL EXCESS LIABILITY POLICY DECLARATIONS**

1. **NAMED INSURED:** INTERNATIONAL BUSINESS MACHINES CORP, ET AL
   - NORTH CASTLE DRIVE
   - MAIL DROP #301
   - ARMONK, NY 10504

2. **THE NAMED INSURED IS:** CORPORATION

3. **POLICY PERIOD:**
   - FROM 05/21/2002
   - TO 05/21/2003
   - 12:01 A.M. Standard Time at your mailing address.
   - PRIOR POLICY NO. 9SR 129293-00

4. **LIMITS OF LIABILITY:** SEE FORM CE7913 - LIMITS OF LIABILITY
   - EACH OCCURRENCE
   - OTHER AGGREGATE
   - PRODUCTS-COMPLETED
   - OPERATIONS AGGREGATE

5. **FORMS AND ENDORSEMENTS APPLICABLE TO POLICY:**
   - SEE FORM IL 7812 FOR SCHEDULE OF FORMS AND ENDORSEMENTS

**NOTICE:** THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE DEPARTMENT. HOWEVER, SUCH FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS.

6. **TOTAL POLICY PREMIUM:**
   - Basis of Premium: FLAT
   - Advance Premium:
   - Annual Minimum Premium: $*****62,500
   - Policy Minimum Premium:

7. **PRODUCER INFORMATION**
   - MARSH, INC.
   - 1166 AVENUE OF THE AMERICAS
   - NEW YORK, NEW YORK 10036
   - 38-3656

**COUNTERSIGNATURE:**
- DATE: 05/28/2002

CE 72 00 (Ed. 05 98)
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Printed in U.S.A.