# CHUBB/PACIFIC INDEMNITY GROUP DECLARATIONS EXCESS LIABILITY POLICY

**Prior Number:** 7922-80-94  
**Producer Number:** 4-65222  
**Policy Number:** 79228590  

## Item 1: Named Insured & Address
- **International Business Machines Corp., (IBM)**  
  Armonk, New York 10504  

## Item 2: Producer's Name & Address
- **Johnson & Higgins**  
  95 Wall Street  
  New York, New York 10005  

## Item 3: Policy Period
- **From:** May 21, 1979  
- **To:** May 21, 1980  
  (12:01 A.M. standard time at the address of the Named Insured)  

## Item 4: Premium
- **$12,500.**  
  **Premium Basis:** Flat  
  **Rate:** $12,000 U.S. + $500 Canada = $12,500 Total Premium  

## Item 5: Limit of Liability
The Company's Liability, under this policy, shall not exceed the greater of the following amounts:
A. 23.8% Percent of the LOSS in excess of all UNDERLYING INSURANCE nor for more than
B. $5,000,000. per occurrence or;
C. $5,000,000. Annual aggregate (as defined in the First UNDERLYING INSURANCE policy)

## Item 6: Schedule of UNDERLYING INSURANCE
### First UNDERLYING INSURANCE policy:
- **Centennial Insurance Co.**
  - **5/21/79 to 5/21/80**
  - **$2,000,000. - each occurrence**
  - **$2,000,000. - annual aggregate (where applicable)**  

### Other UNDERLYING INSURANCE:
- **Various Companies**
  - **$17,000,000. - each occurrence**
  - **$17,000,000. - annual aggregate where applicable in excess of the First Underlying Insurance**

**Issued at:** 100 William St., N.Y., N.Y.
**Date:** May 17, 1979
**Authorized Representative:**