**EXCESS LIABILITY POLICY**

**HEC 53-178**

**THE HOME INSURANCE COMPANY**
Manchester, New Hampshire

**NEW YORK OFFICE**
[Address and contact information]

**ITEM 1. Insured's Name and Mailing Address**
International Business Machines Corp., etal.
(As Per End't No. 1)
Armonk, New York 10504

**1**

**5/21/77** **5/21/78**
Inception (Mo./Day/Yr) Expiration (Mo./Day/Yr)

**12:01 A.M.** Standard Time at the address of the Named Insured as stated herein

**ITEM 2. PRIMARY OR UNDERLYING INSURANCE - DESCRIPTION OF COVERAGE**
$40,000,000.00 Umbrella Liability, Bodily Injury, Property Damage, or both combined Each Occurrence and in the Aggregate where applicable, as more fully described by American Guarantee & Liability Ins. Co., Policy No. (To Be Advised), effective May 21, 1977 to May 21, 1978, and others, in turn excess of underlying insurances as per Schedule on file with the Company.

**ITEM 3. EXCESS COVERAGE AFFORDED BY THIS POLICY**
$10,000,000.00 part of $40,000,000.00 Bodily Injury, Property Damage, or both combined, Each Occurrence and in the Aggregate where applicable, following the terms, conditions, exclusions, and limitations of American Guarantee & Liability Ins. Co., Policy No. (To Be Advised) excess of the limits set forth under Item No. 2 above.

**ITEM 4. PREMIUM**
U.S. - $14,520.00
Canada - See End't No. 2

**In Witness Whereof, the said THE HOME INSURANCE COMPANY, has caused these Presents to be signed by its President and attested by its Secretary at its Executive Office located in the City of New York, and this policy is made and accepted upon the above express conditions, but shall not be valid unless countersigned by a duly Authorized Representative of the Company at place of issue**

**K.W. Richardson**  
**Secretary**  
**R.H. Fuller, Jr.**  
**President**  
**Vice President**  
**DATE** **5/24/77**  
**HII**  
**HD738(F)13/74**