# EXCESS LIABILITY POLICY

**Insurer:** TWIN CITY FIRE INSURANCE COMPANY  
**HARTFORD, CONNECTICUT**

**SEND CORRESPONDENCE TO:**
FIRST STATE MANAGEMENT GROUP, INC.
150 FEDERAL STREET, BOSTON, MA 02110-1753

**Policy No.: KA 0000410**
**International Business Machines Corporation**
**Corporate Headquarters**
**Armonk, New York 10504**

## DECLARATIONS
- **Previous Policy No.:** KA 0000245

### Items
1. **Named Insured and Mailing Address**
   - **MAY 21, 1994** Inception Date
   - **MAY 21, 1995** Expiration Date

2. **Policy Period**
   - 12:01 a.m. standard time at the address of the First Named Insured as stated herein.

3. **Audit Period:**
   - Not subject to Audit

4. **Deposit Premium:** $62,000.00
   - Which is a Flat Charge, Policy Renewal

5. **Rate:** N/A
   - Per: N/A
   - Minimum Retained Audit Premium: N/A
   - Minimum Retained Premium: N/A, not subject to adjustment in the event of cancellation.

6. **Limits of Liability**
   - The Limit of the company's Liability under this policy shall, subject to all the terms of the policy relating thereto, be as follows:
     - PER OCCURRENCE LIMIT: $10,000,000
     - PRODUCTS/COMPLETED OPERATIONS COMBINED AGGREGATE LIMIT: N/A
     - GENERAL AGGREGATE LIMIT: $10,000,000

7. **Total Limits of Liability – All Underlying Insurance Policies**
   - Refer to EXTENSION SCHEDULE forming a part of this policy.

8. **Controlling Underlying Insurance Policy**
   - Refer to EXTENSION SCHEDULE forming a part of this policy.

9. **Form Numbers of Endorsement forming a part of this policy:**
   - See POLICY PROVISIONS Form 6146 AND LISTING OF ENDORSEMENTS FORMING A PART OF THE POLICY AT ISSUE.

**NOTICE**
- THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE DEPARTMENT. HOWEVER, SUCH FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS.

**This policy will not be valid unless countersigned by our duly authorized representative.**
**First State Management Group**
**Countersigned by:** [Signature]
**Authorized Representative**

**Form L-3923-1B (Ed.10/88) Printed in U.S.A. (NS)**

**Copyright Hartford Fire Insurance Company, 1986**