In consideration of the premium charged, it is understood and agreed that this policy is issued in conjunction with Policy #XLX120 29 02. The policy provisions of this policy and XLX120 29 02 shall in all ways, including limits of liability, be construed as though one single policy has been issued: except, as respects Item 5, premium, in which case alone - the policies are considered separate.

Cancellation of this policy or policy XLX120 29 02 shall automatically cancel the other policy.

POLICY NUMBER
XLX-120 29 01 | INBURED | EFFECTIVE
International Business Machines Corporation | 5/21/76

FIREMAN'S FUND INSURANCE COMPANY
THE AMERICAN INSURANCE COMPANY
NATIONAL SURETY CORPORATION
ASSOCIATED INDEMNITY CORPORATION
AMERICAN AUTOMOBILE INSURANCE COMPANY

PRODUCER

COUNTERSIGNATURE OF AUTHORIZED AGENT

PRESIDENT