**New England Reinsurance Corporation**

**First State Underwriters Agency**

**Marathon**

**Policy Number:** 791711

**Renewal of No.:** 791701

**Named Insured and Mailing Address:**

- **International Business Machines Corporation, ETAL (See End't. #1)**
- **Old Orchard Road**
- **Armonk, New York 10504**

**Item 1. Policy Period:**
- From: May 21, 1982
- To: May 21, 1984

**Item 2. Premium:**
- Advance Premium: $2,300
- Rate: Flat
- Minimum Premium: $2,300

**Item 3. Coverage: EXCESS UMBRELLA LIABILITY**

**Item 4. Limits of Liability:**
- The limit of the Company's liability shall be as stated herein, subject to all the terms of this Policy having reference thereto.
- Combined Single Limit Bodily Injury and/or Property Damage part of $50,000,000, Combined Single Limit Bodily Injury and/or Property Damage and in the aggregate (where applicable)

**Item 5. Underlying Umbrella Insurer(s) and Policy Numbers:**
- Centennial Insurance Company and Other Various Companies
- Policy Number: 462 02 39.54
- Term: 5/21/82 to 5/21/85

**Item 6. Underlying Limits of Liability:**
- $80,000,000

**Countersigned by:** [Signature]

**Forms attached:** E-48, CP/1, C-47

**Date of Issue:** 6/16/82 bh

**Administrative Offices:** 60 Batterymarch Street, Boston, Massachusetts 02110