**Johnson & Higgins**
Established 1845

**November 11, 1991**

**Mr. Patrick J. Noone**
Manager - Casualty Insurance
International Business Machines Corporation
208 Harbor Drive
P.O. Box 10501
Stamford, CT 06904-2501

**EXCESS LIABILITY INSURANCE**
**FEDERAL INSURANCE COMPANY**
**MAY 21, 1991 - MAY 21, 1992**

Dear Pat:

Listed below and enclosed are the two Federal Insurance Company policies which comprise $25,000,000 of your $170,000,000 domestic Umbrella and Excess Liability program:

* **Policy #79089898 (92)** - This policy represents Federal Insurance Company's participation of $20,000,000 each occurrence/aggregate where applicable, part of $55,000,000 each occurrence/aggregate where applicable, excess of $60,000,000 each occurrence/aggregate where applicable, which in turn is excess of primary insurance or a self-insured retention.

* **Policy #79089897 (92)** - This policy represents Federal Insurance Company's participation of $5,000,000 each occurrence/aggregate where applicable, part of $55,000,000 each occurrence/aggregate where applicable, excess of $115,000,000 each occurrence/aggregate where applicable, which in turn is excess of primary insurance or a self-insured retention.

As respects the latter policy, the Named Insured's address will be amended to read "Corporate Headquarters, Armonk, New York 10504." In addition, both policies should be amended to reflect the policy number of the Lead Umbrella written by American Home Assurance Company.

**A Partner in UNISON**