**MULTI-LINE LIABILITY EXCESS POLICY**

**The MANHATTAN Fire and Marine Insurance Company**

**NEW YORK, NEW YORK 10017**
**ADMINISTRATIVE OFFICE**
**1515 Summer Street**
**Stamford, Connecticut 06905**

**Name of Assured:** International Business Machines Corp.

**Address:** Armonk, New York 10504
**Attn:** Richard Faron, Ins. Dept.

**Type of Coverage:** Excess Umbrella Liability

**Limits of Liability:** As Per Form GL 218 Attached Hereto.

**Term:** 1 Year
**Beginning at 12:01 A.M. on the 21st day of May 1977**
**and ending at 12:01 A.M. on the 21st day of May 1978**

**Standard time at the place of location of risks insured, and in accordance with terms and conditions of the form(s) attached and the Standard Clauses on the reverse side of this page.**

**Forms:**
**At time of issuance this Policy contains a 4-page insuring Form and Endorsements 1 through 6 inclusive. Standard Clause -- shall not apply.**

**The MANHATTAN Fire and Marine Insurance Company, New York, New York (hereinafter called the Company), agrees with the assured named above, in consideration of the premium to be paid and subject to the limits of liability, exclusions, conditions and other terms of this policy, to provide insurance as set forth in the form(s) and endorsement(s) attached.**

**Premium:**

| At Inception | 1st Anniversary | 2nd Anniversary |
|--------------|-----------------|-----------------|
| PREMIUM      | $ 5,000.00      | $ N/A           | $ N/A           |
| TOTAL        | $ 5,000.00      |                 |                 |

**IN WITNESS WHEREOF, this Company has executed and attended these presents; but this policy shall not be valid unless countersigned by a duly authorized representative of the Company.**

**Dated at this 12th day of May 1977 By Jack Shoop/77**

**ORIGINAL POLICY**