**JOHNSON & HIGGINS**
INSURANCE BROKERS & AVERAGE ADJUSTERS
195 WALL STREET, NEW YORK, N.Y. 10005
TEL: (212) 482-2000

**INTERNATIONAL BUSINESS MACHINES CORP**
ATT: MR RICHARD PARON INS DEPT
ARMONK N.Y. 10501

**ACCOUNT:** 23055
**INSURED:** 000
**DEPT:** 3
**BILLING DATE:** 07/08/7

**POLICY NUMBER:** 80742
**RISK NUMBER:** RDX1775537
**EXCESS UMBRELLA LIABILITY:** 5,000,000 PART OF 20,000,000
**EXCESS OF:** 130,000,000

**TOTAL:** $4,840.00

**253**

**JOHNSON & HIGGINS INCORPORATED 1906**
195 WALL STREET, NEW YORK, N.Y. 10005