# AGRICULTURAL INSURANCE COMPANY

## RENEWAL CERTIFICATE

**RENEWING POLICY NO:** EXC 8725937

**NAMED INSURED:**
INTERNATIONAL BUSINESS MACHINES CORP
(PER NAMED INSURED ENDORSEMENT)

**MAILING ADDRESS:**
OLD ORCHARD ROAD
MAIL DROP 230
ARMONK, NY 10504

**PRODUCER'S NAME AND ADDRESS:**
PROFESSIONAL RISK BROKERS, INC.
8510 MCALPINE PARK DRIVE. #114
CHARLOTTE, NC 28211

**RENEWAL PERIOD:**
From: MAY 21, 1997
To: MAY 21, 1998

**RENEWAL PREMIUM:** $37,500
ANNUAL FLAT CHARGE

In consideration of payment of the Renewal Premium indicated, the policy designated above is hereby renewed by the Company for the period stated, subject to all provisions and stipulations thereof and endorsements thereto, except as stated below.

The following changes apply to the renewal of this policy (if none, so state):

Item 3 of the policy Declarations is amended in part as follows:

- Total advance premium: $37,500
- Annual Minimum premium: $37,500

**Countersigned:** 5/21/97
**By:** [Signature]
**Authorized Representative**

RC 01/97
MY/ER 5/21/97