# Certificate of Facultative Reinsurance

## New England and Reinsurance Corporation (NERFAC)

**Does hereby reinsure:**

- **National Union Fire Insurance Company**
  - **Pittsburgh, Pennsylvania**
    (herein called the Company) in respect of the Company's policy hereinafter described, in consideration of the payment of the premium and subject to the terms, conditions and amount of liability set forth herein, as follows:

**Name and Address of Insured:**  
- **International Business Machine Corp., ETAL**  
  - **Armonk, New York**

**Ceding Company Policy No.:**  
991 03 10  
**From:** 5/21/80  
**To:** 5/21/81  

**Reinsurance Period:**  
**From:** 5/21/80  
**To:** 5/21/81  

**Details of Reinsurance Afforded:**

### Section I: Type of Insurance
- **Excess Umbrella Liability**

### Section II: Policy Limits and Application
A) $8,000,000. ea. occ/ann. agg. (where applicable) excess $2,000,000. ea. occ. /ann agg (where applicable) excess UNDERLYING.

### Section III: Ceding Company Retention
$2,000,000. p/o $8,000,000. ea. occ/ann. agg (where applicable) excess $2,000,000. ea.occ. /ann. agg. (where applicable) excess UNDERLYING.

### Section IV: Reinsurance Accepted
$750,000. p/o $8,000,000. ea. occ/ann. agg. (where applicable) excess of $2,000,000. ea. occ/ann. agg. (where applicable) excess UNDERLYING

**Premium Due or First Installment:** $11,953.12  
**Future Installments:** $  
**Adjustable:** ☐  
**Commission Net:** %  
**Countersigned (v.r. 10/6)**  
**Date:**  
**By:** J.D. Shakespeare  
**Authorized Signature:**  

**C-222-1 A**