**Document Title: Excess Liability Policy Maximum**

**Policy Number:** 1517544
**Effective Date:** May 21, 1976
**Expiration Date:** May 21, 1977

**Insurer:** Midland Insurance Company
**Address:** One State Street Plaza, New York, New York 10004

**Insured:** International Business Machines Corp.
**Address:** Armonk, New York 10504

**Broker:** Johnson & Higgins
**Address:** 55 Wall St., New York 10005
**Phone:** 63183
**Fax:** 63183

**Item 1: Declarations**
- Name and Address of Insured: International Business Machines Corp., Armonk, New York 10504
- Policy Period: From May 21, 1976 to May 21, 1977 (22:01 A.M., Standard Time at the address of the named insured as stated herein)

**Item 2: 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: Limits 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**
- $2,403.75 Flat charge.

**Item 6: Cancellation**
- Thirty (30) Days.
- Date: 6/2/76
- Form No.: UND-292 (1976) IM

**Authorized Representative Signature:**