# Declarations

## Excess Liability Policy

**Policy Number:** HXL-F 86 53 11

**Insured by the Stock Company checked below and hereinafter called the Company**

- The Home Insurance Company (Manchester, New Hampshire)
- City Insurance Company (Short Hills, New Jersey)
- The Home Indemnity Company (Manchester, New Hampshire)

**Producer Name:** Johnson & Higgins

**Item 1. Named Insured and Mailing Address:**
- **International Business Machine Corp.**
- **(As Per Underlying Policy)**
- **Armonk, N.Y. 10504**

**Item 2. Policy Premium**
- **$ 22,500.00**
- **Rate:** Flat Charge $ 22,500.00
- **Policy Minimum Premium:** $ 5,625.00

**Item 3. Limits of Liability**
- The Company's liability under this policy shall not exceed the following Limit:
  - 9.09 Percent of the ultimate Net Loss in excess of all underlying insurance but for no greater amount than:
    - $5,000,000. Each Occurrence
    - $5,000,000. Annual Aggregate as defined in the First Underlying Insurance Policy

**Item 4. Schedule of Underlying Insurance**
- **First Underlying Insurance Policy:**
  - **Carrier:** American Home Assurance Corp.
  - **Policy No.:** To Be Determined
  - **Term:** 5-21-93 to 5-21-94
  - **Underlying Limit:** $25,000,000. Each Occurrence
  - **Annual Aggregate (where applicable):** $25,000,000.

- **Other Underlying Insurance:**
  - **Various**
  - **Underlying Limit:** $35,000,000. Each Occurrence
  - **Annual Aggregate (where applicable):** $35,000,000.

**Subject to forms attached hereto (enter form number and edition dates):**
- H35269F, H38529F, H22300F, 1, 2, 3, 4, 5, 6, 7.

**Do Not Write In This Box**

**Countersigned at:** New York, N.Y.
**Issue Date:** 6-3-93 ajm
**Authorized Representative Signature:**
**Countersign Date:**

**INSURED'S COPY**