# Certificate of Casualty Facultative Reinsurance

**North American Reinsurance Corporation**

**Home Office:** New York, N.Y.

**Certificate No.:** 0881265  
**Prior Certificate No.:** 0613976

**Attention:** Mr. W. Erickson

**Does hereby reinsure:**
- **Lexington Insurance Company c/o Midwestern Risk Specialist, Inc.**
  - **Address:** 222 South Riverside Plaza, Chicago, Illinois 60606

**Name of Insured:** International Business Machines  
**Address:** Old Orchard Road, Armonk, New York  

**Company's Policy No.:** 5512881  
**Reinsurance Period:** From May 21, 1978, to May 21, 1979

**Details of Reinsurance Afforded:**

| Type of Insurance Item 1 | Policy Limits and Application Item 2 | Company Retention Item 3 | Reinsurance Accepted Item 4 | Basis of Acceptance Item 5 |
|--------------------------|--------------------------------------|--------------------------|----------------------------|----------------------------|
| Excess Umbrella Liability | $2,000,000 part of $21,000,000 each occurrence and in the aggregate excess of $19,000,000 limit of umbrella liability which in turn is excess of underlying limits of primary insurance or $10,000 Retention | 50% | 50% | Quota Share |

**Net & Treaty**

**Premium Due Date:** 5-21-78  
**Premium Amount:** $3000.00

**Fixed Charge Premium**

**Audit Premium**

**Audit Frequency**

**Commission:** 25.0%

**Computed as follows:**
- **Total Premium:** $3000.00

**Minimum Premium:** For Reinsurance Period $3,000.00

**Issued At:** Chicago, Illinois  
**Date:** September 6, 1978

**Form No.:** 1 M.B.F. 10M 8/77 (Rev. 4)

**Counter-signed by:** TEZ