**Aetna Excess/Overlayer Indemnity Policy**

**The Aetna Casualty and Surety Company**
Hartford, Connecticut 06115

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

**Section 1: DECLARATIONS**

**NAMED INSURED AND ADDRESS**
- **International Business Machines Corp.**
- **Armonk, N.Y., 10504**

**LIMITS OF LIABILITY**
- 25% ($10,000,000 maximum) quota share of $40,000,000 each occurrence.
- 25% ($10,000,000 maximum) quota share of $10,000,000 annual aggregate where applicable.

**ENDORSEMENTS:**
1. Broad Form Nuclear Energy Exclusion, Form No. 13113-A
   SEE ENDORSEMENT INDEX

**POLICY NO.** 01 IN 1378 WCA

**POLICY PERIOD:**
From 5-21-77 To 5-21-78
12:01 A.M., standard time at the address of Insured

**PREMIUM (Flat charge):**
- Minimum Premium
- Total Advance Premium: $14,520
- 3 Year Policy Installments:
  - 1st Anniversary
  - 2nd Anniversary