**Midland Insurance Company**

**Declaration**

Item 1: Named Insured and Address  
IBM Co., Ltd., Canada  
Royal Trust Tower  
Toronto, Ontario Canada

Producer: Johnson & Higgins  
0033400

Item 2: Policy Period  
From May 21, 1976 to May 21, 1977  
12:01 A.M., standard time at the address of the named insured as stated herein.

Item 3: Underlying Insurance: Excess Umbrella Liability  
$130,000,000 each occurrence and aggregate where applicable as provided by various carriers on file with Company in excess of Underlying Insurances.

Item 4: Limit(s) of Coverage  
Hereunder: $5,000,000 part of $20,000,000  
each occurrence and aggregate where applicable in excess of Item 3 above.

Item 5: Premium: $96.25 flat charge.

Item 6: Convenant: Thirty (30) Days.

Date: 6/4/76

Form No. BUS-506  
EXTRA COPY