# CHUBB GROUP of Insurance Companies

**15 Mountain View Road, Warren, New Jersey 07060**

## DECLARATIONS
### EXCESS LIABILITY POLICY

**Prior Number:** (85)7928-68-02
**Producer Number:** 4-65222
**Policy Number:** (86)7928-68-02

**Item 1. Named Insured & Address:**
International Business Machines Corporation, etal.
Armonk, New York 10504

**Item 2. Producer's Name & Address:**
Johnson & Higgins
95 Wall Street
New York, New York 10005

**Item 3. Policy Period:**
From: May 21, 1985
To: May 21, 1986
(12:01 A.M. standard time at the address of the Named Insured)

**Item 4. Premium:**
$20,000.-
(See End't #5)
Premium Basis:
Rate:

**Item 5. Limit of Liability:**
The Company's Liability, under this policy, shall not exceed the greater of the following amounts:
A. 20% Percent of the LOSS in excess of all UNDERLYING INSURANCE nor for more than
B. $10,000,000. per occurrence or;
C. $10,000,000. Annual aggregate (as defined in the First UNDERLYING INSURANCE policy)

**Item 6. Schedule of UNDERLYING INSURANCE:**

First UNDERLYING INSURANCE policy:
Centennial Ins. Co.
Pol. #TBA
5/21/85 to 5/21/86
$2,000,000. -each occurrence
$2,000,000. -annual aggregate
(where applicable)

other UNDERLYING INSURANCE:
Various Cos.
5/21/85 to 5/21/86
$98,000,000. -each occurrence
$98,000,000. -annual aggregate
where applicable in excess of the
First Underlying Insurance

Date ev - 06/17/85
0617.04

In Witness Whereof, the company issuing this policy has caused this policy to be signed by its authorized officers or the authorized officers of its U.S. Manager, Chubb & Son Inc., but this policy shall not be valid unless also signed by a duly authorized representative of the company.

**CHUBB & SON INC., U.S. MANAGER of SUN INSURANCE OFFICE LIMITED**

**PACIFIC INDEMNITY COMPANY**
**FEDERAL INSURANCE COMPANY**
**SUN INSURANCE OFFICE LIMITED**

Form 07-02-290 (Ed. 8-76)

**PRODUCER'S COPY**