**CERTIFICATE OF EXCESS INSURANCE**

**Johnson & Higgins**
95 Wall Street,
New York, New York 10005

**ATTENTION:**
IN CONSIDERATION OF THE PAYMENT OF THE PREMIUM AND SUBJECT TO THE DECLARATIONS, TERMS AND CONDITIONS HEREOF, THE COMPANY DOES HEREBY INSURE:

**DECLARATIONS**

**INTERNATIONAL BUSINESS MACHINES CORP. (SEE END #1)**
(HEREINAFTER CALLED THE INSURED)

**ITEM 1**
- STREET LOCATION: ARMONK
- CITY: XS 3404
- STATE: N.Y. MET
- DEPT.: 2193-2194-2195
- CERTIFICATE NUMBER: 7,500
- PRIOR CERTIFICATE NUMBER: 2193-2194-2195
- EFFECTIVE DATE: MAY 21, 1973
- TOTAL PREMIUM: $7,500

**ITEM 2**
- EFFECTIVE DATE: MAY 21, 1976
- PRIOR EFFECTIVE DATE: MAY 21, 1973
- PRIOR TOTAL PREMIUM: $7,500

**ITEM 3**
- PREMIUM PAYABLE:
  - IN ADVANCE: $7,500
  - 1ST ANNIVERSARY: N/A
  - 2ND ANNIVERSARY: N/A
- ADJUSTABLE AT A RATE OF: N/A
- PER: N/A

**ITEM 4**
- UNDERLYING INSURANCE: AS PER ENDORSEMENT #2

**ITEM 5**
- LIMIT(S) OF COVERAGE HEREUNDER: $5,000,000 EACH OCCURRENCE AND IN THE AGGREGATE WHERE APPLICABLE PART OF $25,000,000 IN EXCESS OF THE LIMITS STATED IN ITEM 1 OF THE CERTIFICATE DECLARATIONS.

**ITEM 6**
- CANCELLATION: 30 (THIRTY) DAYS.
- DATE: 5/15/73-LR
- COUNTERSIGNED BY: [AUTHORIZED SIGNATURE]