# Excess Overlayer Indemnity Policy

## The Aetna Casualty and Surety Company
Hartford, Connecticut 06115
(a stock insurance company, herein called "Aetna Casualty")

**IN CONSIDERATION of the payment of the premium and subject to all of the terms of this policy, agrees with the Insured named in the declarations as follows:**

### Section 1. Declarations

#### Named Insured and Address
- **International Business Machines Corporation**
- **Old Orchard Road**
- **Armonk, New York 10504**

#### Policy No.: 01 XN 5098 WCA
#### Policy Period:
- From 5-21-85 To 5-21-86
- 12:01 A.M. standard time at the address of Insured

#### Premium:
- Flat charge

#### Limits of Liability:
- 29.50% ($5,900,000 maximum) quota share of $20,000,000 each occurrence
- 29.50% ($5,900,000 maximum) quota share of $20,000,000 annual aggregate

#### Endorsements:
- x(x)xendorsement from Nuclear Energy Exclusion, Armonk, XN 13-XX XXX

#### See Endorsement Index

**Printed in U.S.A.**