**Johnson & Higgins**
Established 1845

**January 23, 1992**

**Mr. Patrick J. Noone**
Manager - Casualty Insurance
International Business Machines Corporation
2000 Purchase Street
Room 3H-08
Purchase, NY 10577

**EXCESS LIABILITY INSURANCE**
**PLANET INSURANCE COMPANY**
**POLICY #NUA149707401**
**MAY 1, 1991 TO MAY 1, 1992**

Dear Pat:

Enclosed is the captioned policy underwritten by the Planet Insurance Company.

This policy represents the Planet Insurance Company's Excess Liability participation of $10,000,000 each Occurrence/Aggregate where applicable, part of $55,000,000 each Occurrence/Aggregate where applicable, excess of $60,000,000 each Occurrence/Aggregate where applicable, which is in turn excess of Primary Insurances or a Self Insured Retention.

Based on our review of the policy, we noticed the following discrepancies contained on the Declarations Page:

- Item 5 - Underlying Insurance should reflect the correct American Home Lead Umbrella policy number in lieu of "T.B.A."
- Item 6 - Limits of the Company's Liability should read "$10,000,000 part of $55,000,000 each Occurrence and Aggregate" in lieu of "$10,000,000 part of $60,000,000 each Occurrence and Aggregate."

A Partner in
UNISON