**Landmark Insurance Company**
HOME OFFICE
LOS ANGELES, CALIFORNIA

Name Insured: INTERNATIONAL BUSINESS MACHINE CORP.
Policy No.: FE 408 0124
Address: CORPORATE HEADQUARTERS
Renewal of No.: 865 3496

Producer:
JOHNSON & HIGGINS
125 Broad Street
New York, N.Y. 10004-2400
Telex 6720134 JANHNY UW
CABLE KEROGEN

Address:

DECLARATIONS — FOLLOWING FORM EXCESS LIABILITY POLICY

SECTION I — EXCESS INSURANCE

(1) Policy Period
From: 05/21/92 To: 05/21/93
12:01 a.m. Standard Time at the Address of the Insured stated herein.

(b) Coverage: EXCESS UMBRELLA LIABILITY

(c) Limits of Liability: $10,000,000 each occurrence/aggregate where applicable
Part of $55,000,000. each occurrence/aggregate where applicable

(d) Premium: $50,000.
Minimum Premium: $12,500
Rating Base: flat Rate: flat

Audit Period: N/A

SECTION II — UNDERLYING INSURANCE

(a) Underlying Carrier: American Home Assur.Co Coverage: Umbrella Liability
Policy No.: T.B.A.
Policy Limit: $25,000,000.
Policy Period: 5/21/92 to 5/21/93

(b) Total limits of all underlying insurance including the underlying policy in excess of which this policy applies:
$60,000,000. each occurrence/aggregate where applicable excess of
Underlying and or S.I.R.

Endorsements Made Part of this Policy: See forms schedule

Countersigned On: _________________
At Los Angeles, California.
By: ___________________________
Authorized Representative