**POLICY OF EXCESS INSURANCE**

**Reliance**

**Prior Policy Number:** NUA 149707400

**POLICY NUMBER:** NUA 149707401

**Code Number of Company providing Coverage:** 1 (Reliance Insurance Company)

**Code Number of Company providing Excess Coverage:** 2 (Planet Insurance Company) 9 (Reliance National Insurance Company)

**Notice of Claim:**

**Notice shall be given to the Insurer at the following address:**

**Reliance National Risk Specialists**

**Claims Division**

**77 Water Street**

**New York, NY 10003**

**Item 1**

**NAMED INSURED:**

- **International Business Machines Corp., ETAL (As per underlying policy)**

- **P.O. Box 10501**
- **Street Location:** 262 Harbor Drive
- **City:** Stamford
- **State:** CT.
- **Zip:** 06904-0000

**Item 2**

**POLICY PERIOD:**

- **MAY 21, 1991**
- **MAY 21, 1992**

**Effective Date:** 12:01 a.m.

**Expiration Date:** 12:01 a.m.

**Standard Time at the Address of the Named Insured stated herein.**

**Item 3**

**POLICY PREMIUM:**

- **Total Premium (Due at Inception): $50,000.**

**Item 4**

**DESCRIPTION OF COVERAGE:**

- **EXCESS UMBRELLA POLICY**

**Item 5**

**UNDERLYING INSURANCE:**

**(a) Underlying Policy:**

- **AMERICAN HOME INSURANCE COMPANY**
- **Coverage:** UMBRELLA LIABILITY
- **Policy Period:** 5/21/91 - 5/21/92
- **Policy No.: T.B.A.**
- **Policy Limit:** $25,000,000. EACH OCCURRENCE AND AGGREGATE WHERE APPLICABLE.

**(b) Total limits of all underlying insurance including the underlying policy in excess of which this applies:**

- **$60,000,000. EACH OCCURRENCE AND AGGREGATE WHERE APPLICABLE EXCESS OF UNDERLYING LIMITS.**

**Item 6**

**LIMIT(S) OF THE COMPANY'S LIABILITY:**

- **$10,000,000. PART OF $60,000,000. EACH OCCURRENCE AND AGGREGATE APPLICABLE EXCESS OF THE LIMITS STATED IN ITEM 5 (b) ABOVE.**

**Item 7**

**MANUSCRIPT POLICY CONSISTING OF PAGES 1-9; FORM ILBP 8301-PL AND MANDATORY ENDORSEMENTS 1-4.**

**Date:** 7-2-91

**Countersigned By:** [Signature]

**Co. Code No.:**

1. RELIANCE INSURANCE COMPANY
   Philadelphia, Pennsylvania

2. PLANET INSURANCE COMPANY
   Madison, Wisconsin

9. RELIANCE NATIONAL INSURANCE COMPANY
   Wilmington, Delaware

**DECLARATION**

**JOHNSON & HIGGINS**

**125 Broad Street**
**New York, NY 10004**
**Telex 6720134 JANHNY UW**
**Cable KERODEN**
**[1212] 574-7000**

**INSURED COPY**