# DECLARATIONS COMMERCIAL EXCESS LIABILITY POLICY

**Chubb Group of Insurance Companies**
15 Mountain View Road, Warren, N.J. 07060

## Item 1 Named Insured & Address
- **International Business Machines Corp., ETAL**
  - **Address:** Old Orchard Road, Armonk, NY 10504

## Producer's Name & Address
- **Johnson & Higgins**
  - **Address:** 125 Broad Street, New York, NY 10004

## Item 2 Policy Period
- **From:** 05/21/94
- **To:** 05/21/95
- **Retroactive Date:** 12:01 A.M. standard time at the address of the insured as stated.

## Item 3 Premium
- **Basis Rate:** $14,000.00

## Item 4 Limits of Liability
- **Each Occurrence:** $5,000,000.
- **Aggregate:** $115,000,000.

## Item 5 Scheduled Underlying Insurance
a. **First Underlying Insurance**
   - **Company:** NATIONAL UNION
   - **Policy No.: TBA**
   - **From/To:** 05/21/94 to 05/21/95
   - **Claims Made:** NO
   - **Retroactive Date:**
   - **Limits:**
     - Each Occurrence: $25,000,000.
     - Aggregate: $25,000,000.

b. **Other Underlying Insurance**
   - **Company:** AETNA
   - **Policy No.: TBA**
   - **From/To:** 05/21/94 to 05/21/95
   - **Claims Made:** NO
   - **Retroactive Date:**
   - **Limits:**
     - Each Occurrence: $10,000,000.
     - Aggregate: $10,000,000.

## Signature
- **President:** [Signature]
- **Secretary:** [Signature]

**Date:** [Date]

**Form:** 07-02-0575-U (Rev. 11-86)

**INSURED**