# Lexington Insurance Company

**Wilmington, Delaware**
**(A Stock Insurance Company)**

**Administrative Offices:** 200 State Street, Boston, Massachusetts 02109

**Follow Form Policy Declarations**

**Policy No.:** 865 3496
**Renewal of:** 556 9950

**Named Insured:** International Business Machines Corp
**Address:** Corporate Headquarters
**Armonk** **NY** **10504**

**SECTION I - EXCESS INSURANCE**

A) **Policy Period:**
   - From: 05/21/91
   - To: 05/21/92
   - At 12:01 A.M. standard time at the address of the insured stated above.

B) **Coverage:** Excess Umbrella Liability

C) **Limits of Liability:**
   - $10,000,000 Each Occurrence
   - Annual Aggregate Where Applicable
   - Part Of: $55,000,000 Each Occurrence Annual Aggregate Where Applicable

D) **Premium Computation:**

| Estimated Exposure | Rating Base | Rate | Audit Period |
|--------------------|-------------|------|--------------|
| Flat               | Flat        | N/A  | N/A          |

| Advance Premium | Annual Minimum Premium | Minimum Earned Premium |
|-----------------|------------------------|-----------------------|
| $50,000         | $50,000                | At Inception          |
|                 |                        | $12,500               |

**SECTION II - UNDERLYING INSURANCE**

A) **Underlying Company:** American Home Assurance Company
   - Policy Number: TBD
   - Coverage: Umbrella Liability
   - Eff. Date: 5/21/91
   - Exp. Date: 5/21/92
   - Limit: $25,000,000 each occurrence/annual aggregate

B) **Total Limits of all Underlying Insurance including the underlying policy in excess of which this policy applies:**
   - $60,000,000 each occurrence/annual aggregate where applicable excess of primary insurance or SIR.

**Endorsements Attached:** See attached Forms Schedule.

**COUNTERSIGNED ON:** 09/03/91 sr.
At Boston, Massachusetts 02109

**AUTHORIZED REPRESENTATIVE**

LEXOCCFP2(Ed.07/90)
LX0421