**AMERICAN RE-INSURANCE COMPANY**

99 JOHN STREET
NEW YORK, N.Y. 10038

**Johnson & Higgins**
95 Wall Street
New York, New York 10005

**ATTENTION:** Mr. Richard T. Michel

**International Business Machines Corporation et al**
(HEREINAFTER CALLED THE INSURED)

M-0692473
7.1.73
02
FROM: 7.1.73 TO: 5.21.76
REINSURANCE CERTIFICATE PERIOD
N11
TOTAL ADDITIONAL OR RETURN PREMIUM (—)

**DATE OF NEXT INSTALLMENT**

**POLLUTION EXCLUSION**

It is agreed that this policy shall not apply to any liability for personal injury or property damage arising out of the discharge, dispersal, release or escape of smoke, vapors, soot, fumes, acids, alkalis, toxic chemicals, liquids or gases, waste materials or other irritants, contaminants or pollutants into or upon land, the atmosphere or any water course or body of water; but this exclusion does not apply if such discharge, dispersal, release or escape is sudden and accidental.

(OR) 11/27/73

**AMERICAN RE-INSURANCE COMPANY**

Countersigned by:
AUTHORIZED REPRESENTATIVE