**JOHNSON & HIGGINS**
Established 1847

**INSURANCE BROKERS-AVERAGE ADJUSTERS**
**ACTUARIES-EMPLOYEE BENEFIT PLAN CONSULTANTS**

**CABLE ADDRESS: JHIGGINS**
**TELEX NO: 427060**

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

**October 2, 1981**

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

Dear Dick:

EXCESS UMBRELLA LIABILITY POLICY RDX1785610
EXPIRES MAY 21, 1981

Supplementing my letter to you of September 11, 1981, attached find a copy of Endorsement #14 to be added to the above policy written with the CNA. Apparently the original endorsements were lost in the mail and what you have is a copy.

There is still one endorsement missing on this contract as well as several for the Canadian counterpart, but we hope to receive them shortly. In the interim, please call if you have any questions.

Very truly yours,

Richard T. Michel
Vice President