**Employers Commercial Union**

**Insurance Company of America**

**Boston, Massachusetts**

*(A stock insurance company herein called the Company)*

**AGREES WITH THE INSURED named below in consideration of the payment of premium and, except as herein provided, subject to all the terms and conditions of Policy No. RDU 9433884 and renewal thereof issued by Continental Casualty Company**

**to:**

**Item 1. INSURED:** International Business Machines Corporation As per End. #1 Armonk, New York

**Item 2. POLICY PERIOD:** May 21, 1970 to May 21, 1973

**Item 3. COVERAGE:** Excess Umbrella Liability

**Item 4. EXCEPTIONS:** This insurance differs from the Policy which it follows in the following particulars:

(a) Rate Flat
(b) Proportion of Risk Insured: $2,700,000,00 each occurrence and in the aggregate excess of $77,500,000.00 each occurrence and in the aggregate which in turn is excess of primary and/or a Self Insured Retention.

(c) Premium: $4,050.00 Prepaid

(d) Other: Ends. #1 and #2

**IN WITNESS WHEREOF, Employers Commercial Union Insurance Company of America has caused this policy to be signed by its authorized Manager acting under power of attorney, and countersigned by a duly authorized representative of the Company.**

**11/9/70 nf**

**JOHNSON & HIGGINS**

**INSURANCE BROKERS**

**EMPLOYEE BENEFIT PLAN CONSULTANTS**

**WALL ST., NEW YORK 10001**

**WH 6-5160**

**E 0135-2 (ECO)**

**Employers Commercial Union**

**Insurance Company of America**

**President:**

**T. J. Carey**

**Authorized Representative:**

**E. B. Shepard**