**LIBERTY MUTUAL INSURANCE COMPANY**

**Home Office Boston**

**ISSUED TO:** International Business Machines Corp.

**POLICY NO.:** RK1-621-004158-355 TD94/6

**EXPIRES:** 5-21-86

**UND 03505**

**THIS POLICY IS NONASSESSABLE**

The named insured is hereby notified that by virtue of this Policy he is member of Liberty Mutual Insurance Company and is entitled to vote either in person or by proxy at any and all meetings of said company.

This Policy is classified in Dividend Class I – General Class.