# Declarations

## Excess Liability Policy

**Policy Number:** HXL-F 86 53 12

**Insured by the Stock Company checked below and hereinafter called the Company**

- The Home Insurance Company (Manchester, New Hampshire)
- City Insurance Company (Short Hills, New Jersey)
- The Home Indemnity Company (Manchester, New Hampshire)
- The Home Insurance Company of Indiana (Indianapolis, Indiana)

**Item 1. Named Insured and Mailing Address**
- **Name:** International Business Machine Corp.
- **Address:** Armonk, N.Y. 10504

**Producer Name:** Johnson & Higgins

**Policy Period:**
- From (Mo-Day-Yr): 5-21-93
- To (Mo-Day-Yr): 5-21-94
- 12:01 A.M. Standard Time at the address of the Named Insured

**Item 2. Policy Premium**
- **Policy Minimum Premium:** $ 15,500.00
- **Flat Charge:** $ 62,000.00
- **Rate:** In Advance
- **1st Anniversary:** $ 62,000.00
- **2nd Anniversary:** $ -- 

**Item 3. Limits of Liability**
- The Company's liability under this policy shall not exceed the following Limit:
  - 62% of the ultimate Net Loss in excess of all underlying insurance but for no greater amount than:
    - $ 31,000,000. Each Occurrence
    - $ 31,000,000. Annual Aggregate as defined in the First Underlying Insurance Policy

**Item 4. Schedule of Underlying Insurance**
- **First Underlying Insurance Policy:**
  - **Carrier, Policy No., and Term:**
    - American Home Assurance Corp.
    - To Be Determined
    - 5-21-93 to 5-21-94
  - **Underlying Limit:**
    - $ 25,000,000. Each Occurrence
    - $ 25,000,000. Annual Aggregate (where applicable)
- **Other Underlying Insurance:**
  - **Various**
    - **Underlying Limit:**
      - $ 95,000,000. Each Occurrence
      - $ 95,000,000. Annual Aggregate (where applicable)

**Subject to forms attached hereto (enter form number and edition dates):**
- H35268F, H38529F, H22300F, 1, 2, 3, 4, 5, 6, 7.

**Do Not Write In This Box**
- **Countersigned at:** New York, N.Y.
- **Issue Date:** 6-3-93 ajm
- **Authorized Representative Signature:**
- **Countersign Date:**

**INSURED'S COPY**