# Aetna Excess Overlayer Indemnity Policy

## The Aetna Casualty and Surety Company
Hartford, Connecticut 06156
(a stock insurance company, herein called "Aetna Casualty")

**IN CONSIDERATION of the payment of the premium and subject to all of the terms of this policy, agrees with the Insured named in the declarations as follows:**

### Section 1. Declarations
- **Policy Number:** 001 XN 23410906 SCA
- **Named Insured and Address:** International Business Machines Corp., Old Orchard Road, Armonk, NY 10504
- **Policy Period:** From 05/21/93 To 05/21/94 12:01 a.m. Standard Time at the address of insured
- **Limits of Liability:** 27.27% ($15,000,000 Maximum) Quota Share of $55,000,000 Each Occurrence; 27.27% ($15,000,000 Maximum) Quota Share of $55,000,000 Annual Aggregate Where Applicable
- **Premium:** Flat Charge Minimum Premium Total Advance Premium $65,158.00

### Endorsements
- XN13202 1191 SECTION 2. INDEMNITY AGREEMENT
- XN13203 1191 SECTION 3. SCHEDULE OF UNDERLYING SELF-INSURANCE AND INSURANCE
- XN13204 1191 SECTION 4. CONDITIONS CONTINUED NEXT PAGE

### Countersignature
This policy is not valid unless countersigned by a duly authorized Agent of such company.

**Authorized Agent:** [Signature]
**Countersignature Date:** [Date]

Signed for the above Company as insurer by:
- **Secretary:** [Signature]
- **President:** [Signature]

16373 (11-91)