# Zurich Insurance Company

**The Zurich Building, 231 North Martingale Road, Schaumburg, Illinois 60196**

**POLICY NO SERIES 89-33-163**

**DECLARATIONS**

**ITEM 1. NAMED INSURED:** INTERNATIONAL BUSINESS MACHINES CORPORATION ET AL

**ADDRESS:** ARMOK, NEW YORK 10504

**ITEM 2. POLICY PERIOD:** (HEREIN CALLED "THIS POLICY PERIOD") FROM: 5/21/80 TO 5/21/81 12:01 A.M. STANDARD TIME AT THE ADDRESS OF THE INSURED AS STATED HEREIN UNLESS SOONER TERMINATED BY ANY TERMINATION OF THE UNDERLYING INSURANCE

**ITEM 3. COVERAGE:** EXCESS FOLLOWING FORM UMBRELLA LIABILITY

**ITEM 4. SCHEDULE OF UNDERLYING INSURANCE:** THE NAMED INSURED DECLARES THAT UNDERLYING INSURANCE WITH LIMITS EQUAL TO THE AMOUNTS SHOWN IN ITEM 5, COLUMN II BELOW IS IN FORCE WITH RESPECT TO COVERAGE SPECIFIED IN ITEM 3, ON THE EFFECTIVE DATE OF THIS POLICY.

**INSURER:** CENTENNIAL INSURANCE COMPANY

**POLICY NUMBER:** 462-01-86-23

**ITEM 5. LIMITS OF LIABILITY:** THE LIMIT OF THE COMPANY'S LIABILITY SHALL BE AS STATED HEREIN, SUBJECT TO ALL THE TERMS OF THE POLICY HAVING REFERENCE THERETO.

**COLUMN I, COMPANY LIMITS**

$3,000,000 EACH OCCURRENCE
$3,000,000 ANNUAL AGGREGATE

**PART $50,000,000 EACH OCCURRENCE**
**OF: $50,000,000 ANNUAL AGGREGATE**

**IN EXCESS OF**

**COLUMN II, UNDERLYING LIMITS**

$80,000,000 EACH OCCURRENCE
$80,000,000 ANNUAL AGGREGATE

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