**Employers Commercial Union Insurance Company**

**Boston, Massachusetts**

*(A stock insurance company herein called the Company)*

**AGREES WITH THE INSURED named below in consideration of the payment of premium and, except as here is provided, subject to all the terms and conditions of Policy No. DCL 54 14 53 or the renewal thereof issued by United States Fire Insurance Company**

**to:**

**Item 1. INSURED:** International Business Machines Corporation, Etal (See Endorsement #1) Armonk, New York, 10504

**Item 2. POLICY PERIOD:** May 21, 1973 to May 21, 1976

**Item 3. COVERAGE:** Excess Umbrella Liability

**Item 4. EXCEPTIONS:** This insurance differs from the Policy which it follows in the following particulars:

(a) Rate Flat:
(b) Proportion of Risk Insured: $8,000,000.00 part of $50,000,000.00 each occurrence and in the aggregate excess of $100,000,000.00 each occurrence and in the aggregate which in turn is excess of Primary Insurance or a Self Insured Retention.

(c) Premium: $8,000.00

(d) Other:

**IN WITNESS WHEREOF,** Employers Commercial Union Insurance Company has caused this policy to be signed by its authorized Manager acting under power of attorney, and countersigned by a duly authorized representative of the Company.

**Employers Commercial Union Insurance Company**

**E. Frank V. Carey**

**Authorized Representative**

**#204**