**Declaration**

* **Named Insured:** INTERNATIONAL BUSINESS MACHINES CORP.
  * **Address:** ARMONK, NEW YORK 10504
* **Policy Period:** MAY 21, 1981 - MAY 21, 1982
* **Producer:** L.W. BLEGLER INC.
  * **Office Address:** 100TH FLOOR-SEARS TOWER 233 SOUTH WACKER DRIVE CHICAGO, ILLINOIS 60606

**Description and Location of Risk:**

The limit of the company's liability shall be as stated herein, subject to all of the terms of this policy having reference thereto.

**Coverage or Conditions:**

| Coverage or Conditions | Amount of Insurance |
|---|---|
| EXCESS UMBRELLA LIABILITY | $10,000,000. PART OF $50,000,000. ANY ONE OCCURRENCE AND AGGREGATE EXCESS $80,000,000. ANY ONE OCCURRENCE AND AGGREGATE | $11,100.00 | $ 400.00 |

**Forms Attached:**

SUBJECT TO THE MANUSCRIPT FORMS ATTACHED HERETO AND MADE A PART HEREOF, ANY PREPRINTED TERMS AND CONDITIONS ARE HEREBY DELETED TO THE EXTENT THAT THEY VARY FROM OR ARE INCONSISTENT WITH THE AFORESAID MANUSCRIPT FORMS.

**This policy is made and accepted subject to the foregoing provisions and stipulations and those hereinafter stated, which were hereby made with such other provisions, stipulations and agreements as may be added hereto, as provided in this policy.**

Countersigned by: