# CORPORATE LIABILITY
## WRAP AROUND EXCESS

**ASSURED:** International Business Machines Corporation, IBM World Trade Corporation, IBM World Trade Europe/Middle East/Africa Corporation and IBM World Trade Americas/Far East Corporation and any other subsidiary or affiliated Corporation warrants that it is under the same operative and financial control through the identity of its Officers, Directors or Stockholders, including all entities, parties, affiliates, and other interests included in the underlying policies.

**ADDRESS:** Insurance Department, Old Orchard Road, Armonk, New York 10504

**POLICY PERIOD:** 12:01 A.M. Standard Time at the address shown above from January 1, 1982 to January 1, 1985.

**LIMIT OF LIABILITY:** The maximum amount payable by the insurers under this policy shall be $50 million, each occurrence and in the aggregate annually with respect to all underlying coverages combined.

**TERRITORY:** Anywhere in the world.

**PREMIUM:** The three-year premium for $50 million limit is $1,200,000.

**PARTICIPATION**

This policy shall cover for a 10% interest in this insurance and this Company shall not be liable for more than 10% of the limit of liability set forth herein.

**INSURING AGREEMENT:** The undersigned Underwriters agree to indemnify the assured for loss in excess of the limits of the underlying policies as set forth in the attached schedule

The company located these documents in its business records. At this time, the company does not certify that these documents constitute a complete and accurate copy of the policy.