**ADVICE OF INSURANCE**

**JOHNSON & HIGGINS**
Established 1845

**INSURANCE BROKERS *AVERAGE ADJUSTERS***
EMPLOYEE BENEFIT PLAN CONSULTANTS

**CABLE ADDRESS: "HENDEN"**
TELEX NO.: 43900
**INTERNATIONAL BUSINESS MACHINES CORP.**
Armonk, N. Y.
**TO:** Attn: Mr., Richard Faron, Ins. Dept.
**5/11/77**

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**Dear Sir:**

In accordance with your instructions, we have arranged insurance attaching from **5/21/77** and expiring **5/21/78**.

**ON:** Renewal of Aetna C & S Excess Umbrella Liability Policy #XN1028WCA expiring 5/21/77.

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

**Line of Liability** Additional Coverages
- Workmen's Compensation
- Employer's Liability
- Bodily Injury
- Property Damage

**Limits 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.

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

Yours very truly,

**JOHNSON & HIGGINS,**
Per **Richard T. Michel**
WORKMEN'S COMPENSATION AND GENERAL LIABILITY