**New England Reinsurance Corporation**

**Marathon**

**First State Underwriters Agency**

**Administrative Offices: 60 Batterymarch Street, Boston, Massachusetts 02110**

**Named Insured and Mailing Address**

- **International Business Machines Corporation, ETAL (See End't. #1)**
- **Old Orchard Road**
- **Armonk, New York 10504**

**Item 1. Policy Period:**
- From May 21, 1982
- To May 21, 1985

**Item 2. Premium:**
- Advance Premium: $2,300.
- Rate: Flat
- Minimum Premium: $2,300.

If the Policy Period is more than one year and the premium is to be paid in installments, premium is payable on:
- Effective Date: $2,300.
- 1st Anniversary: $2,200 (Endt #6)
- 2nd Anniversary: $2,200 (Endt #6)

**Item 3. Coverage: EXCESS UMBRELLA LIABILITY**

**Item 4. 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.
- Combined Single Limit Bodily Injury and/or Property Damage, part of $50,000,000.
- Combined Single Limit Bodily Injury and/or Property Damage, aggregate (where applicable).

**Item 5. Underlying Umbrella Insurer(s) and Policy Numbers:**
- Centennial Insurance Company and Other Various Companies
- Policy Number: 462 02 39 54
- Term: 5/21/82 to 5/21/85

**Item 6. Underlying Limits of Liability:**
$80,000,000.

**Countersigned by:** [Signature]
**Date of Issue:** 6/16/82

**Forms attached: E-48, CP/1, C-47**