**Johnson & Higgins**

Established 1845

**Insurance Brokers - Average Adjusters**
**Actuaries - Employee Benefit Plan Consultants**

CABLE ADDRESS: "KERODEN"
TELEX NO: 422006

95 WALL ST., NEW YORK, N.Y. 10005
TEL: 482-2000 AREA CODE 212

January 11, 1982

Mr. Richard Faffon
Insurance Department
International Business Machines Corporation
Armonk, New York 10504

Dear Duck:

EXCESS UMBRELLA LIABILITY
POLICY #8001364
EFFECTIVE: MAY 21, 1981 TO MAY 21, 1982

Supplementing my letter to you of October 16, 1981, I am attaching several endorsements to be added to the captioned policy that were missing when the contract was originally issued.

I trust you will find the attached in order.

Very truly yours,

Richard T. Michel
Vice President

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