**Employers Commercial Union Insurance Company of America**

**Policy No.:** E Y-8154-015

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

**Policy Period:** May 21, 1970 to May 21, 1973

**Coverage:** Excess Umbrella Liability

**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.

**Date:** 11/9/70 nf

**Johnson & Higgins**
**Insurance Brokers**
**Benefit Plan Consultants**

**E0136-2 (ECO)**

**Resigned:**
**Thom J. Carey**
**President**
**T. B. Schopf**
**Attorney**