**Y - 503**

**THE FIDELITY AND CASUALTY COMPANY OF AMERICA**

*Insert Name of Company:*
Fidelity & Casualty
Firemen's Fund
Employers Mutual
St. Paul Fire & Marine Insurance Company

*Address:*
80 Maiden Lane, New York, N.Y.

**EXCESS POLICY DECLARATIONS**

*Quota Share:*
$7,500,000 (excess of $45,000,000)

*Fidelity & Casualty:*
$1,000,000

*Firemen's Fund:*
2,500,000

*Employers Mutual:*
3,000,000

*St. Paul Fire & Marine:*
1,000,000

**Policy Number:** LX 1 21 75 13

**ITEM 1. NAMED INSURED:** INTERNATIONAL BUSINESS MACHINES CORP.

**ITEM 2. ADDRESS:** ARMONK, NEW YORK (Number and Street, Town or City, County and State)

**ITEM 3. POLICY PERIOD:** From 12:01 A.M., MAY 21, 1970 to MAY 21, 1973

12:01 A.M., standard time at the address of the named insured as stated herein.

**ITEM 4. UNDERLYING INSURANCE (Designate Carrier and Policy Number):**
CONTINENTAL CASUALTY COMPANY RDU 9433466
AMERICAN HOME ASSURANCE CO. CE 355452

**ITEM 5. LIMIT OF LIABILITY:** THE COMPANY'S QUOTA SHARE (NOT TO EXCEED $1,000,000) OF LOSS WITHIN A TOTAL LIMIT OF $7,500,000 IN EXCESS OF ITEM 6 BELOW

**ITEM 6. UNDERLYING LIMIT (Total):** $45,000,000, IN EXCESS OF PRIMARY INSURANCE AS DESCRIBED IN CONTINENTAL CASUALTY COMPANY'S POLICY NO. RDU 9433466 AND AMERICAN HOME ASSURANCE CO. POLICY NO. CE35545

**ITEM 7. PREMIUM:** $ U.S. 2179.96
CANADA 70.04 (SEE ENDOT. NO 2)
TOTAL 2250.00

**Countersigned by:** [Signature]