**GEO. F. BROWN & SONS, INC.**
**INSURANCE MANAGERS**

123 WILLIAM ST. • NEW YORK, NEW YORK 10038 • 212/227-1366

**June 10th, 1970**

**Mr. Bud Smith**
**Lexington Insurance Company**
**25 New Chardon Street**
**Boston, Massachusetts**

**International Business Machines Corp.**

Dear Bud:

We refer to your telephone conversation with Ken Griener of Johnson and Higgins, New York and your letter dated May 28th. We are pleased to learn that we have been favored with this coverage and it is our understanding that you are participating in the amount of $1,000,000 excess of $142,000,000. The agreed premium for your participation is $1200 per million for a three year period beginning May 21st, 1970 and ending May 21st, 1973.

In connection, we are sending along the necessary information that will enable you to issue your contract. The name of the Insured is to read as follows:

"International Business Machines Corporation, IBM World Trade Corp., The Service Bureau Corp., and any other subsidiary or affiliated Corporation of each provided such other subsidiary or affiliated Corporation warrants that is under the same operative and financial control through the identity of its officers, directors and stockholders."

Anything you can do to hasten submission to us would be appreciated.

**Frank A. Conti**
**Assistant Secretary**

**Brown and Hawley, Inc. • Higham, Nelson, Whittridge & Reid, Inc. & Interstate Insurance Group**
**Chicago • New York • Boston • Los Angeles • Atlanta • Dallas • St. Petersburg**

**Received Jun 12 1970**