**JOHNSON & HIGGINS**
INSURANCE BROKERS & AVERAGE ADJUSTERS
95 WALL STREET, NEW YORK, N.Y. 10005

**INTERNATIONAL BUSINESS MACHINES CORP.**
ATT MR. RICHARD FARON, INS. DEPT.
ARMONK, N.Y. 10504

**ACCOUNT:** 23055
**INVOICE NO.:** 000
**DEPT.:** 3
**POLICY NO.:** 06237
**DATE:** 05/21/78
**INSURER:** NT'S SURPLUS LINES, TX
**AMOUNT:** $5,180.00

**COMPANY:** FIRST ST. ST.
**REFERENCE NO.:** 80153
**EXCESS:** 2,000
**POLICY NO.:** 924669
**UMBRELLA LIAB:** 000 PART OF 21,000 000
**EXCESS:** 05/21/78
**POLICY NO.:** 924669
**EXCESS OF:** 19,000,000
**TOTAL:** $5,000.00
**LESS:** $180.00