# Memo

**American International Companies**
70 Pine Street
New York, New York 10270
212-770-7000

**To:** Jim Brennan
**Date:** June 18, 1986
**From:** Paul Sanchez
**Direct Dial:** 212/770-5763
**Re:** IBM

This will serve as confirmation of your authorization on the captioned account for the following two layers:

1) 5 million excess of $20 million for $50,000 per million.
2) 10 million part of $25 million excess of $25 million for $35,000 a million.

Terms and conditions applicable are per your specifications.

Regards,

Paul Sanchez

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The American Home Group - American International Underwriters
American Life Insurance Company - National Union Insurance Companies - New Hampshire Insurance Group