**JOHNSON & HIGGINS**
INSURANCE BROKERS - AVERAGE ADJUSTERS
95 WALL STREET, NEW YORK, N.Y. 10005
TEL: (212) 483-2006

**INTERNATIONAL BUSINESS MACHINES CORP**
ARMONK NY 10504
ATT: MR RICHARD FARON

**23055 | 000 3 | 06106**

**HOME**
39512
HEC9007245
05215
05217

**EXCESS UMBRELLA LIAB**
10 000 000 PART OF 40 000 000
EXCESS OF 40 000 000

**825/019**
JOHNSON & HIGGINS
95 WALL STREET, NEW YORK, N.Y. 10005