**Y-503**

**THE FIDELITY AND CASUALTY COMPANY OF NEW YORK**
(Insert Name of Company)

**80 MAIDEN LANE, NEW YORK, N.Y.**
(Address)

**JOHNSON & HIGGINS**
INSURANCE BROKERS
EMPLOYEE BENEFIT PLAN CONSULTANTS
95 WALL ST., NEW YORK 10005
(Phone: 643-162)

**EXCESS POLICY**
**DECLARATIONS**

Policy Number LX 633 11 33

**ITEM 1. NAMED INSURED:** INTERNATIONAL BUSINESS MACHINES CORP.

**ITEM 2. ADDRESS:** ARMONK, NEW YORK 10504
(Number and Street, Town or City, County and State)

**ITEM 3. POLICY PERIOD:** From 12:01 o'clock A.M., MAY 21, 1973 to MAY 21, 1976
(hour and minute)
12:01 A.M., standard time at the address of the named insured as stated herein.

**ITEM 4. UNDERLYING INSURANCE (Designate Carrier and Policy Number):**
AMERICAN HOME ASSURANCE CO.
U.S. FIRE AND
RENEWALS THEREOF

**ITEM 5. LIMIT OF LIABILITY:** $5,000,000 Quota Share of $40,000,000
IN EXCESS OF ITEM 6 BELOW

**ITEM 6. UNDERLYING LIMIT (Total):** $40,000,000 IN EXCESS OF PRIMARY INSURANCE AS DESCRIBED IN AMERICAN HOME ASSURANCE CO. AND U.S. FIRE

**ITEM 7. PREMIUM:** $ 8,669 U.S.
$ 311. CANADA
$ 9,000. TOTAL

Countersigned by: