**JOHNSON & HIGGINS**
INSURANCE BROKERS - AVERAGE ADJUSTERS
95 WALL STREET • NEW YORK, N.Y. 10005
TEL. (212) 483-2000

**INTERNATIONAL BUSINESS MACHINES CORP**
ARMONK NEW YORK 10504
ATT MR RICHARD FARON INS DEPT

**ACCOUNT NO:** 23055
**INSURED NO:** 000
**DEPT. NO:** 3
**BILLING DATE:** 05136

**REFERENCE NO:** 37999
**POLICY NO:** 79225677
**DATE:** 05216
**EXPIRATION:** 05217

**COMPANY:** FEDERAL
**PREMIUM:** $ 9,615.00

**EXCESS UMBRELLA LIABILITY**
5 000 000 PART OF 20 000 000 EXCESS OF 20 000 000

**IMPORTANT: PLEASE RETURN THIS PORTION WITH YOUR REMITTANCE**

**825/026**
JOHNSON & HIGGINS
95 WALL STREET • NEW YORK, N.Y. 10005