# ADVICE OF INSURANCE

**Johnson & Higgins**

Established 1845

**629**

**Insurance Brokers - Average Adjusters**
**Employee Benefit Plan Consultants**

Cable Address: "BRODEN"
Tel No: 4600000
60 Wall St., New York, N.Y. 10006
Tel: 212-436-0000 Area Code 212

**May 16, 1977**

**To:** International Business Machines Corp.
Armonk, N.Y. 10504
Attn: Mr. Richard Faron, Ins. Dept.

**Dear Sir:**

In accordance with your instructions, we have arranged insurance attaching from 5/21/77 and expiring 5/21/78

**On:** Renewal of Excess Umbrella Liability Policy #62015931 written with the Centennial Ins. Co.

**Name of Insured:** International Business Machines Corp.
**Address of Insured:** As expiring
**Location of Insured:** As expiring

**Limits of Liability**

* Workmen's Compensation —
* Employer's Liability —
* Bodily Injury —
* Property Damage —

**Limit of Liability:** $5,000,000 part of $21,000,000 excess of $19,000,000.

The policy (or policies) are being prepared and will be forwarded to you in the near future.

**IMPORTANT NOTICE**
If there be any inaccuracy in the above description of the insurance required, please advise immediately.

Yours very truly,

JOHNSON & HIGGINS
Per
Richard T. Michel
WORKMEN'S COMPENSATION AND GENERAL LIABILITY