# EXCESS OVERLAYER INDEMNITY POLICY

**THE AETNA CASUALTY AND SURETY COMPANY**
**HARTFORD, CONNECTICUT 06115**

**(A STOCK INSURANCE COMPANY, HEREIN CALLED "AETNA CASUALTY")**

**IN CONSIDERATION OF THE PAYMENT OF THE PREMIUM AND SUBJECT TO ALL OF THE TERMS OF THIS POLICY AGREE WITH THE INSURED NAMED IN THE DECLARATIONS AS FOLLOWS:**

**POLICY NO.** OIXN 97 SC

## SECTION 1. DECLARATIONS

**NAMED INSURED AND ADDRESS:** INTERNATIONAL BUSINESS MACHINES CORPORATION ETAL. SEE END. ARMONK, NEW YORK

**POLICY PERIOD:** FROM 5/21/70 TO 5/21/73 12:01 A.M. STANDARD TIME AT THE ABOVE ADDRESS

**PREMIUM:** $22,500.

**LIMITS OF LIABILITY:** $10,000,000. LAYER EXCESS OF $52,500,000.

**ENDORSEMENTS:** BROAD FORM NUCLEAR ENERGY EXCLUSION, FORM NO. 13113A NAMED INSURED NON CONCURRENCY EXCLUSION (FAILURE OF PRODUCT TO PERFORM AS INTENDED) CANADIAN PREMIUM

## SECTION 2. INDEMNITY AGREEMENT

**AETNA CASUALTY WILL INDEMNIFY THE INSURED AGAINST EXCESS NET LOSS ARISING OUT OF AN ACCIDENT OR OCCURRENCE DURING THE POLICY PERIOD, SUBJECT TO THE LIMITS OF LIABILITY STATED IN SECTION AND TO ALL OF THE TERMS OF THIS POLICY.**

**"INSURED" MEANS ANY PERSON OR ORGANIZATION WHO QUALIFIES AS AN INSURED UNDER THE TERMS OF THE CONTROLLING UNDERLYING INSURANCE.**

**"EXCESS NET LOSS" MEANS THAT PART OF**

- **THE TOTAL OF ALL SUMS WHICH THE INSURED BECOMES LEGALLY OBLIGATED TO PAY OR HAS PAID AS DAMAGES ON ACCOUNT OF ANY ONE ACCIDENT OR OCCURRENCE, AND WHICH WOULD BE COVERED BY THE TERMS OF THE CONTROLLING UNDERLYING INSURANCE, IF WRITTEN WITHOUT ANY LIMIT OF LIABILITY, LESS REALIZED RECOVERIES AND SALVAGES, WHICH IS IN EXCESS OF**

- **ANY SELF-INSURED RETENTION AND THE TOTAL OF THE APPLICABLE LIMITS OF LIABILITY OF ALL POLICIES DESCRIBED IN SECTION 3, SCHEDULE OF UNDERLYING INSURANCE, WHETHER OR NOT SUCH POLICIES ARE IN FORCE.**

**LOSS SHALL NOT INCLUDE ANY COSTS OR EXPENSE IN CONNECTION WITH THE INVESTIGATION OR DEFENSE OF CLAIMS OR SUITS, OR INTEREST ON ANY JUDGMENT WHICH ACCRUES AFTER ENTRY OF THE JUDGMENT.**

**DATE** ___________ COUNTERSIGNED BY ______________ AUTHORIZED REPRESENTATIVE