**ZURICH-AMERICAN INSURANCE GROUP**
231 N. MARTINGALE ROAD
SCHAUMBURG, IL 60196

**AUDIT ADJUSTMENT OF PREMIUM**

**POLICY NUMBER:** OGL 32-78-678-02
**POLICY PERIOD FROM:** 5/21/86
**POLICY PERIOD TO:** 5/21/87

**INSURANCE COMPANY:** ZURICH INSURANCE COMPANY
**PRODUCER - SO-515-510:** JOHNSON & HIGGINS
**SR54 PAGE 2**

**THE INSURED/MAILING ADDRESS:**
INTERNATIONAL BUSINESS MACHINES CORP., ETAL
ARMONK, NEW YORK 10504

**SI CODE NO.** VRS
**CLASSIFICATION:** MAXIMUM EXCESS LOSS PREMIUM
**EXPOSURE:** 10,173,255.503
**RATE:** .0262386
**PREMIUM:** 268,933

**WRITTEN AS:** 5,209,413.7
**TOTAL:** 5,209,413.7
**DEPOSIT:** 5,712,115
**REFUND:** 502,702
**SHOULD BE:** 5,202,417
**TOTAL:** 5,202,417
**DEPOSIT:** 5,712,115
**REFUND:** 419,698
**DIFFERENCE:** 83,004

**TOTAL DEPOSIT PREMIUM:** 83,004
**ADDITIONAL DUE COMPANY:** 83,004
**REFUND DUE INSURED:** 83,004

**AGENT COPY**

**JPJ/NZ/KLS/7-28-87**
**MM 009805**