**EXCESS THIRD PARTY LIABILITY POLICY**

**No. 565XA0192**
565XA3975
FORMER POLICY NO.

**A CAPITAL STOCK COMPANY**
**ST. PAUL FIRE AND MARINE INSURANCE COMPANY**
FOUNDED 1853
ST. PAUL, MINNESOTA

**ITEM 1. Insured's Name and Mailing Address**
International Business Machines Corp. (see Endt. #6)
Armonk,
New York

**ITEM 2. POLICY PERIOD:**
FROM 5/21/67 TO 5/21/70
**ITEM 3. LOCATION OF COVERAGE:**
World Wide
and as further defined in the Primary Policy.
*12:01 A.M., Standard time at the address of the Insured as stated herein.*

**ITEM 4. PRIMARY INSURANCE:**
INSURER'S NAME See Endt. #6
POLICY NO. (Including Renewals or Replacements)
DESCRIPTION OF COVERAGE
Excess Umbrella Liability Coverage including Aviation-excluding Errors & Omissions

**ITEM 5. LIMITS OF LIABILITY:** The limit of the Company's liability shall be as stated herein, subject to all the terms of this Policy having reference thereto.

| SECTION I | IN EXCESS OF | SECTION II | SECTION III | COVERAGE |
|-----------|---------------|------------|-------------|----------|
| COMPANY LIMITS | UNDERLYING LIMITS | TOTAL LIMITS |            |
| $ Each Person | $             | $          | A. Bodily Injury Automobile |
| $ Each Accident or Occurrence | $ | $ | B. Bodily Injury Except Automobile |
| $ Each Person | $ | $ | C. Property Damage Auto |
| $ Each Accident or Occurrence | $ | $ | D. Property Damage Except Automobile |
| $ Aggregate Products | $ | $ | E. Combined Single Limit Bodily Injury and/or Property Damage |
| $ Aggregate Contractual | $ | $ | F. Other |

**See Endt. #1 Aggregate**

**ITEM 6. PREMIUM COMPUTATION**
PREMIUM BASIS | ESTIMATED EXPOSURE | RATE | ESTIMATED PREM. | DEPOSIT PREM. | MINIMUM PREM. | AUDIT PERIOD
Flat Charge | | | $1,000. | $1,000. | |


**AUTHORIZED REPRESENTATIVE**
EDWIN L. RYDER
COUNTERSIGNATURE DATE 10/20/67, rb... New York, N. Y.
COUNTERSIGNED AT