# EXCESS LIABILITY POLICY

**Insurer:** TWIN CITY FIRE INSURANCE COMPANY  
**HARTFORD, CONNECTICUT**

**SEND CORRESPONDENCE TO:**
FIRST STATE MANAGEMENT GROUP, INC.
150 FEDERAL STREET, BOSTON, MA 02110-1753

**Policy No.:** KA 0000484  
**INTERNATIONAL BUSINESS MACHINES CORPORATION**  
**CORPORATE HEADQUARTERS**  
**ARMONK, NEW YORK 10504**

## DECLARATIONS
**Items**
1. **Named Insured and Mailing Address**
2. **Policy Period**
   - 12:01 a.m. standard time at the address of the First Named Insured as stated herein.
3. **Audit Period:**
   - Annual
   - Semi-Annual
   - Not subject to Audit
4. **Deposit Premium:** $54,000 (which is a Flat Charge)
5. **Rate:** N/A
6. **Minimum Retained Audit Premium:** N/A
7. **Minimum Retained Premium:** N/A, not subject to adjustment in the event of cancellation.

## Limits of Liability
The Limit of the company's Liability under this policy shall, subject to all the terms of the policy relating thereto, be as follows:
- 10,000,000 EACH OCCURRENCE LIMIT
- 10,000,000 PERSONAL INJURY AND ADVERTISING INJURY LIMIT
- 10,000,000 AGGREGATE

## Total Limits of Liability – All Underlying Insurance Policies
Refer to EXTENSION SCHEDULE forming a part of this policy.

## Controlling Underlying Insurance Policy
Refer to EXTENSION SCHEDULE forming a part of this policy.

## Form Numbers of Endorsement forming a part of this policy:
See POLICY PROVISIONS Form 6146 AND LISTING OF ENDORSEMENTS FORMING A PART OF THE POLICY AT ISSUE.

## NOTICE
This policy will not be valid unless countersigned by our duly authorized representative.

**Countersigned by:** [Signature]
**Authorized Representative:** [Name]

**Form L-3923-1B (Ed.10/88) Printed In U.S.A. (NS)**

**Copyright Hartford Fire Insurance Company, 1996**