# DECLARATIONS

## EXCESS LIABILITY POLICY

**POLICY NUMBER:** GFE- 536 25 00

**POLICY PERIOD:** FROM 5-21-91 TO 5-21-92 (12:01 A.M. STANDARD TIME AT THE ADDRESS OF NAMED INSURED AS STATED HEREIN)

**NAMED INSURED AND MAILING ADDRESS:**

- **INTERNATIONAL BUSINESS MACHINES CORP.**
- **CORPORATE HEADQUARTERS**
- **ARMONK, NY 10504**

**GULF GROUP COMPANIES**
- **COVERAGE IS PROVIDED IN THE FOLLOWING COMPANY, A STOCK COMPANY.**
- **GULF INSURANCE COMPANY**

**IN RETURN FOR THE PAYMENT OF THE PREMIUM, AND SUBJECT TO ALL THE TERMS OF THIS POLICY, WE AGREE WITH YOU TO PROVIDE THE INSURANCE AS STATED IN THIS POLICY.**

## CLAIMS MADE

**PART OR ALL OF THIS POLICY MAY APPLY ON A CLAIMS MADE BASIS**

**RETROACTIVE DATE**

WHEN THIS POLICY APPLIES ON A CLAIMS MADE BASIS, IT DOES NOT APPLY TO INJURY OR DAMAGE WHICH OCCURS BEFORE THE RETROACTIVE DATE SHOWN BELOW:

**Item 3:** NOT APPLICABLE
**RETROACTIVE DATE**

## LIMITS OF INSURANCE

**Item 4:** $10,000,000
- EACH OCCURRENCE: $10,000,000
- AGGREGATE

**Item 5:** $115,000,000
- EACH OCCURRENCE: $15,000,000
- AGGREGATE

## UNDERLYING INSURANCE LIMITS

**Item 7:** SCHEDULE OF UNDERLYING INSURANCE
REFER TO CONDITION 1. FOR MAINTENANCE REQUIREMENTS

No 1) First UNDERLYING INSURANCE:
- **COMPANY:** AMERICAN HOME
- **POLICY NO.:** BE 3083133
- **EXPIRATION DATE:** 5-21-92
- **CLAIMS MADE:**
  - **RETROACTIVE DATE:** NOT APPLICABLE
- **LIMITS OF INSURANCE:**
  - EACH OCCURRENCE: $25,000,000
  - AGGREGATE

THIS SCHEDULE IS CONTINUED ON THE ATTACHED FORM, "SCHEDULE OF UNDERLYING INSURANCE-CONT'D"

## ENDORSEMENTS ATTACHED TO AND FORMING A PART OF THIS POLICY AT INCEPTION:

**Item 8:** AMENDMENT-LIMITS OF INSURANCE (QUOTA SHARE); CANCELLATION-AMENDMENT OF NOTICE; LIMITATION OF COVERAGE TO MASSACHUSETTS EXPOSURES

## PREMIUM

**BASIS OF PREMIUM:** FLAT CHARGE

**ADVANCE PREMIUM:** $1,000
**ANNUAL MINIMUM PREMIUM:** $1,000

**DATE OF ISSUE:** 6-11-91
**COUNTERSIGNATURE OF AUTHORIZED AGENT**

**5017-1-88 THIS DECLARATIONS PAGE IS ISSUED IN CONJUNCTION WITH AND FORMS A PART OF POLICY FORM 5017**