**INA REINSURANCE COMPANY**

*1600 ARCH STREET, PH'LADELPHIA, PENNSYLVANIA 19'0*

**DECLARATIONS**

In consideration of the payment of the premium and subject to the terms hereon and the general conditions set forth on the reverse side hereof, does hereby reinsure,

Ceding Company Name and Address (herein called The Company)

National Union Fire Insurance Co. of Pittsburgh, Pa.
c/o National Facultative Services, Inc.
5 Marineview Plaza
Hoboken, New Jersey 07030

ATTENTION: Mr. Leon Gonzalez

International Business Machine Corporation, et al.

Armonk, New York 10504
May 21, 1980
May 21, 1981

FRC 02 69 03
May 21, 1980
May 21, 1981

**Excess Umbrella Liability**

$15,000,000 CSL each occ.-agg., where applicable part of $40,000,000 CSL each occ.-agg. excess $40,000,000 CSL each occ.-agg., which is excess of underlying insurance or SIR.

$14,000,000 CSL each occ.-agg. part of $15,000,000 CSL each occ.-agg., subject to other reinsurance.

$1,000,000 CSL each occ.-agg. part of $15,000,000 CSL each occ.-agg.

**DUE DATE**
5/21/80
**AMOUNT**
$1544.00
**COMM. RATE**
25%
**FREQUENCY**
PER
**PREMIUM BASIS:**
EST. EXPOSURE:
RATE
PER
**MINIMUM PREMIUM FOR**
REINSURANCE PERIOD
$1544.00

THE PREMIUM AND LOSS SHALL BE PAYABLE IN CURRENCY INDICATED USA CAN OTHER

COUNTERSIGNED AT New York Branch
MYC/dr 127 John Street
New York, NY 10038
THE 19th DAY OF September 19 80
By
Authorized Representative

PLEASE GIVE SPECIAL NOTICE OF THIS FACULTATIVE REINSURANCE TO YOUR CLAIM DEPARTMENT