**POLICY NO.**
88 26 230

**EFF. DATE OF POL.**
1-1-76

**EFF. DATE OF END.**
1-1-77

**OVERRIDE NO.**
50=51=810

**ADDL PREMIUM**
$ 8

**RETURN PREMIUM**
$

**Named Insured**
International Business Machines Corp.

This endorsement is issued by that company named below which is the insurer under the policy designated above, issued to the Named Insured and forms a part of said policy as of the effective date hereof, at the hour stated in the policy Declarations.

**Premium Computation Endorsement**

For the period Jan. 1, 1977 to Jan. 1, 1978 the rates and advance premiums applicable are as shown below:
(Excluding Data Processors Errors and Omissions and IBM Marine Bridge System, & Maritime Anti-Collision System);

Comprehensive General Liability and Comprehensive Automobile Liability Premiums shall be computed by applying to each $1,000 of Workers' Compensation Payroll, the Composite Rates as follows:

Estimated Annual Payroll: $2,513,575,000.

| Coverage | Composite Rates | Advance Premium |
|----------|-----------------|------------------|
| Comp Gen/Liab. | $192.05 | $482,733 |
| Excess | $56.00 | $140,760 |
| Auto Non-ownership | Flat Charge | $156,000 |
| Excess | | $61,500 |

Premiums are payable as follows:

| DATE | AMOUNT |
|------|--------|
| 1-1-77 | $140,165 |
| 2-1-77 | $140,165 |
| 3-1-77 | $140,165 |
| 4-1-77 | $140,165 |
| 5-1-77 | $140,165 |
| 6-1-77 | $140,165 |

**Johnson & Higgins**
**PH:AME**
**1-24-77**

**ZURICH INSURANCE COMPANY**
**AMERICAN GUARANTEE AND LIABILITY INSURANCE COMPANY**

**Vito P. Nigro**
**Authorized agent**