**Johnson & Higgins**
95 Wall Street
New York, New York 10005

**TO:** National Union Frank Bagnasco
**DATE:** 6-9-80
**SUBJECT:** IBM
**Our Binder #2117**

---

As we discussed, our binder renewals Natl Union participation of $8 million x $2 million should state premium of $170,000 in lieu of $185,000 Canadian and US split as follows:

US - $164,484
Canada - $5,616.

Please amend your records.

---

**SIGNED:** Frank Bagnasco
**DATE:** 6/10/80

**READ** **REPLY** **Clean attack to file when it returns** **PRIORITY URGENT SOON AS POSSIBLE NO REPLY NECESSARY**
**SIGNED:** Joe DeChiara

---

**RECEIVER: WRITE REPLY, DETACH STUB, KEEP PINK COPY, RETURN WHITE COPY TO SENDER.**