# DECLARATIONS
## UMBRELLA LIABILITY

**Member Companies of**
**American International Group**

**POLICY NO.**
BE - 194-50-64

**RENEWAL OF:** 1 - 9-28
- AMERICAN HOME ASSURANCE COMPANY
- NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA.

**ITEM 1. Name of Insured**
INTERNATIONAL BUS MCHS CORP.
262 HARBOR DR. P.O. BOX 10501
STAMFORD CT 06904-0000

**Address (Street, Town State)**
70 Pine Street, New York, N.Y. 10270
(Executive Offices)
A Capital Stock Company
Herein called the Company

This Declaration page, with policy provisions and endorsements, if any, issued to form a part thereof, completes the above numbered Umbrella Liability Policy.

**ITEM 2. Policy Period**
From: MAY 21, 1990
To: MAY 21, 1991
(12:01) A.M. Standard Time at the address of the Insured stated above)

The limit of the Company's liability shall be as stated herein subject to all the terms of this policy having reference thereto

(A) $ 25,000,000 Single Limit, any one occurrence Personal Injury or Property Damage or Advertising Liability or any combination thereof,

in excess of
(1) the amount recoverable under the underlying insurance as set out in the attached Schedule A.
or
(2) $ 25,000 ultimate net loss in respect of each occurrence not covered by said underlying insurance.

(B) $ 25,000,000 in the aggregate for the policy period or each annual period in accordance with the "Limit of Liability—Retained Limit" Section of the policy.

**ITEM 3. Limit of Liability**

**ITEM 4. Premium Computation**
Rating Basis: FLAT
Estimated Exposure: N/A
Rate: FLAT
Estimated Premium: $832,500
Deposit Premium: $832,500
Minimum Premium: $832,500
Audit Period: NOT SUBJECT TO AUDIT

Producer:
07875
JOHNSON & HIGGINS
125 BROAD STREET
NEW YORK, N.Y. 10004-0000

Date of Issue: 
Countersigned by: 
Licensee Resident Agent

Policy Text Form No. 23022 (5/77)
23020 (5/77)
Z 008647