**Landmark Insurance Company**

**HOME OFFICE**
**LOS ANGELES, CALIFORNIA**

**Name Insured:** International Business Machines Corp
**Policy No.:** FE 4001605
**Address:** Armonk, N.Y.
**Renewal of No.:** New

**Producer:** Johnson & Higgins
**Address:** New York, N.Y.

**DECLARATIONS — FOLLOWING FORM EXCESS LIABILITY POLICY**

**SECTION I — EXCESS INSURANCE**

(1) **Policy Period:** Warranted no known or reported losses from 5-21-85 to 5-29-85.
From: 5/21/85 To: 5/21/86
12:01 a.m. Standard Time at the Address of the Insured stated herein.

(b) **Coverage:** Excess Umbrella Liability

(c) **Limits of Liability:** $4,000,000 part of $20,000,000 Each Occurrence and Aggregate where applicable excess of $40,000,000

(d) **Premium:** $20,000
Minimum Premium: $20,000
Rating Base: Flat
Rate: N/A

Audit Period: N/A

**SECTION II — UNDERLYING INSURANCE**

(a) **Underlying Carrier:** Centenial Ins.Co.
Coverage: Umbrella Liability
Policy No.: T.B.A.
Policy Limit: $2,000,000 Each Occurrence and Aggregate where applicable
Policy Period: 5/21/85 to 5/21/86

(b) **Total limits of all underlying insurance including the underlying policy in excess of which this policy applies:** $40,000,000 Each Occurrence and Aggregate where applicable excess of Primary and/or SIR

Endorsements Made Part of this Policy: Endt #1, #2, #3, #4

Countersigned On: 6/11/85 GS/mem
By: [Signature]
Authorized Representative

At [Address]
New York, N.Y.