**EXCESS THIRD PARTY LIABILITY POLICY**

**NO. 65XA5862**
**565740492**

**FORMER POLICY NO.**

**THE ST. PAUL INSURANCE COMPANIES**

**A CAPITAL STOCK COMPANY**

**ST. PAUL FIRE AND MARINE INSURANCE COMPANY**

**ST. PAUL, MINNESOTA**

**Serving you around the world...around the clock**

**ITEM 1. Insured's Name and Mailing Address**

- International Business Machines Corp., and as per End't #1
- Armonk, New York

**85**

**HIGGINS**
**BOKERS**
**N CONSULTANTS**

**ITEM 2. POLICY PERIOD:**
- FROM: 12/21/70
- TO: 5/21/73

**ITEM 3. LOCATION OF COVERAGE:**
- Armonk, New York
- and as further defined in the Primary Policy.

*12:01 A.M., Standard time at the address of the Insured as stated herein.*

**ITEM 4. PRIMARY INSURANCE:**

- **INSURER'S NAME:** Various - See End't #3
- **POLICY NO.:** (Including Reserves or Replacement)
- **DESCRIPTION OF COVERAGE:** Umbrella Excess Liability Excluding Errors & Omissions

**ITEM 5. 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.

| SECTION I | IN EXCESS OF | SECTION II | SECTION III | COVERAGE |
|-----------|---------------|-------------|-------------|----------|
| COMPANY LIMITS | UNDERLYING LIMITS | TOTAL LIMITS |            |
| $          | $             | $          |            |
| Each Person | $             | $          |            |
| Each Accident or Occurrence | $             | $          |            |
| Each Person | $             | $          |            |
| Each Accident or Occurrence | $             | $          |            |
| Aggregate Products | $             | $          |            |
| Each Accident or Occurrence | $             | $          |            |
| Aggregate Operations | $             | $          |            |
| Aggregate Protective | $             | $          |            |
| Aggregate Products | $             | $          |            |
| Aggregate Contractual | $             | $          |            |
| Each Accident or Occurrence | $             | $          |            |
| Aggregate | $             | $          |            |
| 1,000,000 Quota Share part of | $             | $          |            |
| 7,500,000 -See End't #3 | 45,000,000 | 52,500,000 |            |
| Excess of Primary |            |            |            |

**ITEM 6. PREMIUM COMPUTATION**

| PREMIUM BASIS | INITIALIZED EXPOSURE | RATE | ESTIMATED PREM. | DEPOSIT PREM. | MINIMUM PREM. | AUDIT PERIOD |
|---------------|----------------------|------|-----------------|--------------|---------------|--------------|
|              |                      |      | 2,250.00        | 2,250.00     | 2,250.00      |              |

**LOWIN T. HYDE**
**SENIOR RESIDENT SECRETARY**

**AUTHORIZED REPRESENTATIVE**

**6/9/70 mc**
**New York, New York**

**COUNTERSIGNATURE DATE**
**COUNTERSIGNED AT**

**AIBELP FM 5-43 W Rev. 7-63**