# Johnson & Higgins

**Established 1845**

**Insurance Brokers - Average Adjusters**
**Actuaries - Employee Benefit Plan Consultants**

CABLE ADDRESS "KERODEN NEW YORK"
TELEX NO. 420027
95 WALL ST., NEW YORK, N.Y. 10005
TEL 701-7500 AREA CODE 212

July 3, 1985

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

Dear Dick:

EXCESS UMBRELLA LIABILITY POLICY #HXL1640195
EFFECTIVE: MAY 21, 1985 TO MAY 21, 1986

Supplementing our Advice of Insurance of June 5, 1985, enclosed is the captioned Excess Umbrella Liability policy written with the Home Insurance Company for a limit of $12,000,000 each occurrence part of $40,000,000 excess of $60,000,000 each occurrence at an annual premium of $54,000. Our invoices were previously forwarded to you.

We have checked the captioned policy and found it to be correct with the exception that the [redacted] Endorsement had not been attached to the contract. We assume this omission will be corrected by the underwriter and an endorsement will follow in due course.

Please give me a call should you have any questions.

Very truly yours,

Dick

Richard T. Michel
Vice President

RTM1/dis