# DECLARATIONS

**Item 1. Named Insured and Address:** International Business Machines (as per governing underlying) Armonk, NY

**Item 2. Policy Period:**
From May 21, 1987 to May 21, 1988 12:01 A.M.

standard time at the address of the named insured as stated herein, unless sooner cancelled in accordance with Condition 9 herein.

**Item 3. Premium:** $25,000

**Item 4. The limits of the Company's liability (in currency per Item 3) are:**

a) $2,500,000 each occurrence; in the aggregate per annual policy period where applicable.
b) $25,000,000 each occurrence; in the aggregate per annual policy period where applicable.

**Item 5. The limits of the Company's liability apply in excess of the following limits of liability (in currency per Item 3) of underlying insurance:**

$55,000,000 each occurrence; in the aggregate per annual policy period where applicable.
which may be in turn excess of various underlying limits or self-insured amounts specified in the governing underlying insurance policy.

**Item 6. The governing underlying insurance policy is:**

Policy No. 10HUSG6756
Name of issuing insurance company Hartford Accident and Indemnity
Type of insurance Umbrella Liability Policy term May 21, 1987 May 21, 1988

**Item 7. Unless otherwise stated herein, a) No part of the underlying insurance or co-insurance is on what is commonly known as a 'claims made' basis; b) No part of the limits of liability of underlying insurance includes costs; c) No underlying insurance policy nor any co-insurance policy contains exclusions not found in or more restrictive from the viewpoint of the named insured than in the governing underlying insurance policy;**

**Item 8. Endorsements which are part of this policy at inception:** none

Countersigned by (Authorized Representative)

Zurich American Insurance Group
Attorney for service of suit per Condition 10 44 Wall Street, 15th Floor, New York, NY 10005
Z 008751