# Declarations

## Excess Liability Policy

**Insured by the Stock Company checked below and hereinafter called the Company**

- The Home Insurance Company Manchester, New Hampshire
- The Home Indemnity Company Manchester, New Hampshire

**Item 1. Named Insured and Mailing Address (No., Street, Town or City, County, State, Zip Code)**

- **International Business Machine Corp**
  - (As Per Underlying Policy)
  - Armonk, NY 10504

**Producer Name**: Johnson & Higgins

**Policy Period**

- From: 5/21/91
- To: 5/21/92
- 12:01 A.M. Standard Time at the address of the Named Insured.

**Item 2. Policy Premium**

- **$62,500.**
- **Rate:** In Advance
- **Flat Charge:** $15,625.
- **1st Anniversary:** $$
- **2nd Anniversary:** $$

**Item 3. Limits of Liability**

The Company's liability under this policy shall not exceed the following Limit:

- 45.454 Percent of the ultimate Net Loss in excess of all underlying insurance but for no greater amount than:
  - **$25,000,000.** Each Occurrence
  - **$25,000,000.** Annual Aggregate as defined in the First Underlying Insurance Policy

**Item 4. Schedule of Underlying Insurance**

**First Underlying Insurance Policy:**

- **Carrier:** American Home Assurance Company
- **Policy No.:** BE3083133
- **Term:** 5/21/91 to 5/21/92
- **Applicable Limit:** $25,000,000. Each Occurrence
- **Applicable Limit:** $25,000,000. Annual Aggregate (where applicable)

**Other Underlying Insurance:**

- **Various**
- **Applicable Limit:** $90,000,000. Each Occurrence
- **Applicable Limit:** $90,000,000. Annual Aggregate (where applicable)

**Subject to forms attached hereto (enter form number and edition dates):**

- H35269F, H38529F, H22300FH, - 1,2,3,4,5,6.

**Do Not Write Below This Line**

**Countersigned at:** New York, NY
**Issue Date:** 5/22/91 amg
**Authorized Representative Signature:**
**Countersign Date:**

**H 35266 F Ed. 5-83**