# DECLARATIONS—EXCESS UMBRELLA LIABILITY POLICY

## FIRST STATE UNDERWRITERS AGENCY OF NEW ENGLAND REINSURANCE CORPORATION

**Named Insured and Mailing Address**

- INTERNATIONAL BUSINESS MACHINES CORP., ETAL (See Ind't. +1)
  - Old Orchard Road
  - Armonk, New York 10504

**Item 1 Policy Period**
- From: May 21, 1981
- To: May 21, 1982
- 12:01 A.M., Standard Time at the address of the named insured as stated herein.

**Item 2 Premium**
- Advance Premium $ (A) $4,000.
- Rate: Flat
- Minimum Premium $ (A) $4,000.
- (B) $2,300.

If the Policy Period is more than one year and the premium is to be paid in installments, the premium is payable on:
- Effective Date: 1st Anniversary
- $ --- 2nd Anniversary
- $ --- $ ---

**Item 3 Coverage:** EXCESS UMBRELLA LIABILITY

**Item 4 Limits of Liability:** The limit of the Company's liability shall be as stated herein, subject to all the terms of this Policy having reference thereto.

See attached Endorsement #2

**Item 5 Underlying Umbrella Insurer(s) and Policy Numbers:**
1. Centennial Insurance Co.
2. National Union
3. Northbrook Excess & Surplus Insurance Co.

**Item 6 Underlying Limits of Liability:**

See attached Endorsement #3

Forms attached: E-48, CP-1, C-47

Countersigned by: **Bernard J. Bradshaw**

Date of Issue: 7/21/81 bh