**J HNSON & HIGGI S**

**95 WALL STREET**
**NEW YORK, NY 10005**
**(212) 701-7500**

**ZURICH AMERICAN INS CO**
**PD BOX 9345 CHURCH ST STATION**
**NEW YORK, NY 10249**

**CLIENT NO:** 870-00350
**INVOICE NO:** 180418
**DATE:** 3/21/86
**AMOUNT:** $243,900

**INTL BUSINESS MACHINES CORP**
*CHECK TO FOLLOW-DO NOT DEBIT INVOICES ARE PAYABLE AT RECEIPT, ATTACHMENT DATE, OR STALLMENT DATE, WHICHEVER IS EARLIER*

**INSURANCE DESCRIPTION: COMMISSION BILLING**
**DEPARTMENT:** CAS.
**JAN CONTACT:** MICHEL R.

| INSURANCE COMPANY | DATES | POLICY NUMBER | DESCRIPTION | AMOUNT |
|-------------------|-------|---------------|-------------|--------|
| ZURICH INS         | 05/21/84 to 05/21/85 | 327667800 | (5,986 @ .0313) | 187.75 |
| ZURICH INS         | 05/21/84 to 05/21/85 | BAP327667900 | (3,049 @ .0163) | 50.93 |

**TOTAL:** $243,900

**NO 4280A**
**JOHNSON & HIGGINS**

**MM 009814**