# Johnson & Higgins

Established 1845

**INSURANCE BROKERS - AVERAGE ADJUSTERS**

**EMPLOYEE BENEFIT PLAN CONSULTANTS**

CABLE ADDRESS "KEROGEN"

TELEX NO. 42306

05 WALL ST., NEW YORK, N.Y. 10003

TEL: 944-2150 · AREA CODE 212

August 28, 1973

Miss Dolores Warnecke  
Insurance Department  
International Business Machines Corporation  
Armonk, New York 10504  

Dear Dolores:

EXCESS UMBRELLA LIABILITY POLICY #LX6331133  
WRITTEN FOR $5,000,000 PART OF $40,000,000  
EXCESS OF $40,000,000 and POLICY #LX6331134  
WRITTEN FOR $1,000,000 PART OF $50,000,000  
EXCESS OF $100,000,000

Supplementing our Advices of Insurance dated April 27, 1973, we are pleased to enclose the captioned renewal policies effective from May 21, 1973 to May 21, 1976 along with our invoices for the appropriate premiums. You will note that the premium has been divided between your United States and Canadian operations.

We have reviewed the contracts and find them to be in good order. The policies follow the terms, conditions, and exclusions of the first layer policies and as such there is an aggregate applicable to the products exposure.

We trust you find the enclosure in good order and ask that you contact us should you have any questions.

Very truly yours,

Richard T. Michel  
Casualty Department

RTM:jm