**Midland Insurance Company**

**29 Broadway**
**New York, N.Y. 10006**

**POLICY NO. AL-1156**

**New**

**STOCK COMPANY #108**

**DECLARATIONS**

**Item 1. Named Insured and Address:**
International Business Machines Corp.
(and per Endorsement No. 1)
Armonk, New York 10504

**Item 2. Policy Periods (Mo. Day Yr.)**
From 5/21/70 to 5/21/73

**Underlying Insurance:**
Umbrella Liability as insured by American Home Insurance Co. and other underwriters with total limits of $139,500,000 applying as excess of Item 3.

**Limit(s) of Coverage Hereunder:**
$2,500,000 per occurrence and/or annual aggregate applying as excess of Item 3.

**Premium:**
$3,000 flat prepaid for term.

**Cancellation:**
Thirty (30) Days.

**Countersigned:**
New York, N.Y.
6/11/70-if

**By:**
AUTHORIZED REPRESENTATIVE

**Endorsements No. 1, 2 and 3 attached at inception.**