# DECLARATIONS

## 1. INSURED
- International Business Machines Corporation,
- I. B. M. World Trade Corp.,
- The Service Bureau Corp., and any other subsidiary or affiliated corporation of each provided such other subsidiary or affiliated corporation warrants that it is under the same operative and financial control through the identity of its officers, directors or stockholders.

**ADDRESS:** Armonk, New York

## 2. UNDERLYING INSURANCE:
(a) Continental Casualty Co. - $2,000,000 A.O.O. in respect of International Business Machines Corp. including I. B. M. World Trade Corp. in respect of U.S.A. and Canada operations; all products Worldwide. Aircraft & Airport Liab. (France) in excess of underlying insurance shown in Endorsement No. 23245 attached to the Certificate.
(b) American Home Assurance Co. - $5,000,000 excess of $2,000,000 excluding E. & O. excess of (a) above.
(c) Continental Casualty Co. - $2,000,000 excess of $10,000,000 excluding E. & O. excess of (a) and (b) above.
(d) General Reinsurance Corp. - $5,000,000 excess of $12,000,000 excluding E. & O. excess of (a), (b) and (c) above.

## 3. LIMIT OF COVERAGE HEREUNDER
: Up to an amount not exceeding $3,000,000 for any one occurrence, excluding E. & O., such amount being in excess of the total amount of insurance available to the Insured as shown in 2. above. There is no limit to the number of occurrences for which claims may be brought hereunder, provided they happen during the period of the Certificate.

## 4. PREMIUM
: $6,750.00

## 5. CANCELLATION
: Thirty days

## 6. PERIOD OF COVERAGE HEREUNDER
: July 1st, 1964 to July 1st, 1967, 12:00 A.M., Standard Time at the Insured's address as to both dates.