# Excess Overlayer Indemnity Policy

## The Aetna Casualty and Surety Company
Hartford, Connecticut 06115
(a stock insurance company, herein called "Aetna Casualty")

## Declarations

### Section 1. Declarations

**Named Insured and Address**
- **International Business Machines Corp**
- **Old Orchard Road**
- **Armonk, N.Y. 10504**

**Policy No.:** 01 XN 7907 SCA

**Policy Period:**
- From: 5/21/91
- To: 5/21/92
- 12:01 A.M., standard time at the address of Insured

**Premium:**
- Flat charge

**Limits of Liability:**
- 18% ($10,000,000 maximum) quota share of $55,000,000 each occurrence
- 18% ($10,000,000 maximum) quota share of $55,000,000 annual aggregate where applicable

**Endorsements:** (XX EXCESS OVERLAYER ENDORSEMENT XX)

**See Endorsement Index**

**Total Advance Premium:** $50,000
**3 Year Policy Installments:**
- 1st Anniversary
- 2nd Anniversary

**Printed in U.S.A.**