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COM WEALTH BSN

AIG LEX BSN
6-23-86
TO: CHARLIE FALLO
FROM: TOM CIARDELLO
RE: IBM

ORIGINALLY SENT TELEX TO YOU ON 6-17-86 AS FOLLOWS:

PLS BIND YR PART. AS FOLLOWS:

COVERAGE: EXCESS UMB. LIAB.
FORM: RETAINED AMOUNT, 2 POLICY AGGS, CLAIMS-MADE
EFF. DATE: 5-21-86-87
YR PARTICIPATION: 500,000 (AIG SYN)
LEX RETENTION: 5,000,000
ASSIGNED POLICY NO: 5528820
RETRO DATE: 5-21-86
DISC. OPTION: 1 YR AT 125 PCT.
LAYER: 10MIL XS 80MIL
PREMIUM: 85,000
CEDING COMM: 22.5 PCT.
TERMS: X-ERISA, X-CCC, X-ASBESTOS, X-POLLUTION (ABSOLUTE),
X-E+O, X-PATENT INFRINGEMENT, X-PRODS, RECALL, X-OD/EL, X-AIRCRAFT
PRODUCTS/GROUNDING, X-D+O, X-PUNITIVE, X-DISCRIMINATION
FOLLOW FORM: PERSONAL INJURY, CONTRACTUAL, FOREIGN, LIQUOR,
INCIDENTIAL MEDICAL MALPRACTICE
ATTACH: JOINT VENTURE ENDT., UNIMPAIRED AGG. ENDT. WILL FORWARD
WKNOll LETTER ASAP
PLEASE ADVISE YR CERT NO ASAP.
REGARDS
J#
COM WEALTH BSN
AIG LEX BSN