# Zurich-American Insurance Companies

Special Risk Division
Manhattan Region
44 Wall Street
New York, New York 10005
(212) 635-9150

October 1, 1984

Mr. Richard Michel
Johnson & Higgins Inc.
95 Wall Street
New York, N.Y. 10005

RE: International Business Machine Final Confirmation (First year of a five year Paid-Loss Retro Plan-Eff 5/21/84-89)

Dear Dick:

As agreed the five year plan is Retroactive to 5/21/84-89. Attached is a worksheet showing the revised allocated cash installments and deferrals by policy for your billing purposes. The commission on the audit will remain at 6.1% of Standard Premium and 0% excess. The deposit commission will change to 47.4% inclusive of 44.5% of Standard Premium as of the 10/21/84 installment. The excess will remain at 0%. Payments will continue to be due and payable on the 30th of each month as agreed.

We are in the process of reissuing the Premium Payment and Retro Agreements; Final Proposal, billings, and new policies. I will submit a draft copy of the policies for your review before issuing them. The new policy numbers are as follows:

GA 32-78-678
BAP 32-78-679

If you have any questions please advise.

Sincerely,

Ruby Simmons
Account Representative

RS:cs

cc: Anita DiGiulio SRU Manhattan

Enclosures

Zurich Insurance Company/American Guarantee and Liability Insurance Company
Zurich American Insurance Company of Illinois
Zurich American Life Insurance Company

MM 009850