# Evidence of Insurance

This Evidence of Insurance certifies that we have effected the following:

**Name and Address of Insured:**
- International Business Machines Corp.
- Old Orchard Road
- Mail Drop 230
- Armonk, NY 10504

**Coverage:**
- Excess Umbrella Liability

**Insurance Company:**
- Agricultural Insurance Company
  (Admitted in state bound)

**Limits:**
- $15,000,000 part of $55,000,000 X $60,000,000

**Premium:**
- $37,500

**Commission to Johnson & Higgins:**
- 0%

**Policy Period:**
- May 21, 1997 - May 21, 1998

**Policy Number:**
- EXC8725937

**Terms and Conditions:**
- As per Expiring
  In accordance with Agricultural Insurance Company's policy form plus the following:
  - Exclusions: Aircraft Products, Asbestos, Bankruptcy or Insolvency, CCC Real & Personal, Directors & Officers Liability, ERISA, Nuclear Energy (Broad Form), Pollution (Named Perils Exception)
  - Attachments: Named Insured Endt., Limits of Insurance Amendment, Participation Endt.

**Lead Umbrella:**
- Carrier: AIU
- Limits: $25,000,000 X Primary
- SIR: $25,000
- Premium: $500,000

**Henry Ward Johnson & Co., Inc.**
- 30 Broad Street / 28th Floor / New York NY 10004
- Fax: 212-480-1098
- 212-480-0990