# Certificate of Casualty Facultative Reinsurance

**Issued by:** Continental Casualty Company  
**CNA Plaza, Chicago, Illinois 60685**

## Declarations

**Name of Insured:**
- **International Business Machines Corp./IBM, of Canada, Ltd.**
- **Address:** Armonk, New York 10504

**Ceding Company (Herein called the Company):**
- **National Union Fire Insurance Company of Pittsburgh**
- **American Home Assurance Company**
- **City:** To Be Advised
- **State:** To Be Advised
- **Company Policy No.:** To Be Advised
- **Company Policy Period:**
  - Effective: May 21, 1980
  - Expires: May 21, 1981

## Item 1 - Type of Insurance:
- **Excess Umbrella Liability**

## Item 2 - Company Policy Limits and Application:
- **$8,000,000 CSL Each Occurrence/Aggregate Where Applicable Excess of $2,000,000 CSL Each Occurrence/Aggregate Excess of Underlying.**

## Item 3 - Company Retention:
- **$2,000,000 CSL Part of $8,000,000 CSL Each Occurrence/Aggregate Where Applicable Excess of $2,000,000 CSL Each Occurrence/Aggregate Excess of Underlying.**

## Item 4 - Reinsurance Accepted:
- **$1,000,000 CSL Part of $8,000,000 CSL Each Occurrence/Aggregate Where Applicable Excess of $2,000,000 CSL Each Occurrence/Aggregate Where Applicable Excess of Underlying.**

## Item 5 - Basis of Acceptance:
- **Quota Share**

## Item 6 - Reinsurance Premium Computation:
- **Premium Basis:** Estimated Exposure
- **Rate:** Flat
- **Estimated Premium:** $15,937.50 NET

## Deposit Premium:
- **$15,937.50 NET**
- **Minimum Premium:** $15,937.50 NET

## Reinsurance Broker:
- **National Facultative Services, Inc., Hoboken, New Jersey**

**By:** E.T. Kelley  
**Authorized Signature:**