**AIU INSURANCE COMPANY**
**NEW YORK, NEW YORK**

(Stock Insurance Company herein called the Company)
AMERICAN INTERNATIONAL UNDERWRITERS

**POLICY No:** 75 101088

**RENEWAL OF:** 75-100649

The Company agrees with the Insured named below, in consideration of the premium paid and subject to all the terms and conditions set forth below that the insurance afforded by this policy shall follow all the terms and conditions of Policy No. T.B.A., issued by TO BE ADVISED including all renewals and rewrites thereof.

**NAMED INSURED:** INTERNATIONAL BUSINESS MACHINES CORP., ETAL
**ADDRESS:** ARMONK, NEW YORK 10504
**POLICY PERIOD:** MAY 21, 1979 TO MAY 21, 1980
**COVERAGE:** EXCESS LIABILITY

**LIMIT OF LIABILITY:** A) $5,000,000. EACH OCCURRENCE SUBJECT TO AN AGGREGATE OF $5,000,000 WHERE APPLICABLE, PART OF $50,000,000. EXCESS OF $80,000,000. B) $5,000,000. EACH OCCURRENCE SUBJECT TO AN AGGREGATE OF $5,000,000. WHERE APPLICABLE PART OR $21,000,000. EXCESS OF $19,000,000.
**PREMIUM:** A) $ 6,275.00
B) 12,066.00
**RATE:** FLAT CHARGE

IN WITNESS WHEREOF, the Company has caused this policy to be signed by its President and Secretary and countersigned by a duly authorized representative of the Company.

**Signed by:**
**Secretary**
**President**

**AMERICAN INTERNATIONAL UNDERWRITERS**
Countersigned by:
**Authorized Representative**

**JML/LS/LL**
**MAY 30, 1979**