**AIU INSURANCE COMPANY**

**NEW YORK, NEW YORK**

(Insurance Company herein called the Company)

**AMERICAN INTERNATIONAL UNDERWRITERS**

**POLICY No. 75 - 100649**

The Company agrees with the Insured named below, in consideration of the premium paid and subject to all the terms and conditions set forth below that the insurance afforded by this policy shall follow all the terms and conditions of Policy No. T/B/A issued by TO BE ADVISED including all renewals and rewrites thereof.

**NAMED INSURED:** INTERNATIONAL BUSINESS MACHINES CORP., ETAL

**ADDRESS:** ARMONK, NEW YORK 10504

**POLICY PERIOD:** MAY 21, 1978 TO MAY 21, 1979

**COVERAGE:** EXCESS LIABILITY

**LIMIT OF LIABILITY:**
A) $5,000,000 EACH OCCURRENCE SUBJECT TO AN AGGREGATE OF $5,000,000, WHERE APPLICABLE, PART OF $50,000,000, EXCESS OF $80,000,000.
B) $5,000,000 EACH OCCURRENCE SUBJECT TO AN AGGREGATE OF $5,000,000, WHERE APPLICABLE PART OF $21,000,000, EXCESS OF $19,000,000.

**PREMIUM:**
A) $7,500.
B) 15,000.

**RATE:** FLAT CHARGE

IN WITNESS WHEREOF, the Company has caused this policy to be signed by its President and Secretary and countersigned by a duly authorized representative of the Company.

**Countersigned by: [Signature]**

**Authorized Representative**

**RGM/BS/LL**