**ADVICE OF INSURANCE**

**JOHNSON & HIGGINS**
*Insurance Brokers, Average Adjusters*
*Employee Benefit Plan Consultants*

**CARL'S ADDRESS: 4800 E. 125TH ST., CLEVELAND, OHIO 44106**
**TELEX NO.: 483068**

**TO:** International Business Machines Corp.
**Address:** Armonk, New York 10504
**Attn:** Mr. Richard Faron, Ins. Dept.

**5/5/77**

Dear Sir:

In accordance with your instructions, we have arranged insurance attaching from 5/21/77 and expiring 5/21/78 ON: Renewal of Home Excess Umbrella Policy #HEC9007245 expiring 5/21/77.

**Name of Insured:** International Business Machines Corp., Etal
**Address of Insured:** As expiring
**Location of Risk:** As expiring

**Limits of Liability**
- Workmen's Compensation
- Employer's Liability
- Bodily Injury
- Property Damage
- Limit of Liability - $10,000,000 part of $40,000,000 excess of $40,000,000

The policy (or policies) are being prepared and will be forwarded to you in the near future.

Yours very truly,

**JOHNSON & HIGGINS**
*Per:* Richard T. Michel

**IMPORTANT NOTICE**
If there be any inaccuracy in the above description of the insurance required, please advise immediately.

WORKMEN'S COMPENSATION AND GENERAL LIABILITY