# Lexington Insurance Company

**100 Summer Street, Boston, Massachusetts 02110**
**A CAPITAL STOCK COMPANY**

## Cover Note

### Important
THIS INSURANCE CANNOT BE CANCELLED UNTIL EARNED PREMIUM MUST BE PAID FOR THE TIME INSURANCE HAS BEEN IN FORCE.

### Insured
IBM

### Address
Albany, N.Y.

### Cover Note Number
5528870

### Term
1 YEAR

### Effective Date
5/21/86

### Expiration Date
5/21/86

### Type of Insurance: Excess Liability
- A) CLAIMS MADE ( ) OR OCCURRENCE ( )
- B) RETROSPECTIVE DATE: 5-21-86
- C) EXTENDED REPORTING PROVISIONS: 1 YEAR AT 125% OF EXPIRING POLICY

### Limits of Liability
10,000,000 EACH CLAIM/AGGREGATE EXCESS OF $2,000,000 EACH OCCURRENCE/AGGREGATE EXCESS OF $4,000,000 AND/OR SIR

### Premium and Rate:
- A) MINIMUM EARNED PREMIUM: $21,250
- B) ANNUAL MINIMUM PREMIUM: $85,000

### Terms and Conditions:
- A. TOTAL PREMIUM DUE WITHIN 15 DAYS OF THE EFFECTIVE DATE OF COVERAGE.
- B. SEE ATTACHED

This cover note is a statement concerning the above insurance as of the date of the issuance of this cover note. This cover note is subject to policy conditions of any policies which may be issued by Company and shall be automatically cancelled and superseded by such policy or policies upon issuance.

Cancellation: This cover note may be cancelled by either the insured or Company by written notice to the other.

In the event of cancellation, the earned premium will be computed short rate if cancelled by the insured unless stated in Item 6 above as subject to minimum earned premium, and pro rata if cancelled by Company. If the premium is not paid within the time specified in Item 7 above, the insurance evidenced by this cover note shall automatically terminate at the end of the time specified for payment of total premium to Company. Any such automatic termination shall not affect the minimum earned premium provisions of this cover note.

**Broker:** Johnson & Higgins
**Address:** 95 Wall St.
**Dated at:** New York, N.Y. 10005

**this day of 19**

**AUTHORIZED SIGNATURE**

CASUALTY (1/86)