Document:

Exhibit 10.26

 

First Amendment to
the

Aon Deferred Compensation
Plan

(As Amended and Restated
Effective as of November 1, 2002)

 

WHEREAS, the Aon Deferred Compensation Plan (the “Plan”)
was originally effective as of October 1, 1994, and was later amended and
restated effective as of November 1,2002.

 

WHEREAS, the Board of Directors of Aon Corporation
desires to amend the Plan pursuant to the Board’s authority to do so under Section 6.04
of the Plan.

 

NOW, THEREFORE, the Plan is amended as follows
effective January 1, 2006:

 

Section 6.04. Section 6.04 shall be deleted and the following substituted in
its place:

 

6.04. Amendment and
Termination.  The Plan may, at any time, be amended,
modified, or terminated by action of the Board or by action of any person or
entity authorized by the Board. Such amendment shall be stated in an instrument
in writing. No amendment, modification, or termination shall, without the
consent of a Participant, adversely affect such Participant’s rights with
respect to amounts accrued in his or her Accounts.

 

IN WITNESS WHEREOF, Aon Corporation has adopted this
First Amendment to the Aon Deferred Compensation Plan, effective as set forth
above.Exhibit 10.27

 

Seventh Amendment
to

the Aon Deferred

Compensation Plan

As Amended and Restated
Effective as of November 1, 2002

 

WHEREAS, Aon Corporation
(the “Company”) currently maintains the Aon Deferred Compensation Plan (the “Plan”).

 

WHEREAS, the Company’s Board of Directors desires to amend the Plan
pursuant to the authority to do so under Section 6.04 of the Plan to
provide for the limited exception to the timing of deferrals under the Plan as
permitted by Internal Revenue Service Notice 2005-1, Q&A-21.

 

NOW, THEREFORE, the Plan, as
set forth, is amended, effective as of January 1, 2005, by adding the
following new sentence immediately after the third sentence of Section 3.01
of the Plan as a part thereof:

 

“Subject to the percentage limit that was described
in the preceding sentence, each Employee eligible to participate in the Plan
shall be entitled to make an election on or before March 15, 2005 to defer
receipt of Compensation or Bonus which (i) relates all or in part to
services performed on or before December 31, 2005 and (ii) would be
subject to Internal Revenue Code Section 409A upon deferral; provided,
such Compensation or Bonus has not been paid, or become payable, at the time
such deferral election is made.”

 

IN WITNESS WHEREOF, the Company has caused this
Seventh Amendment to be adopted and to be effective as set forth above.Exhibit 10.30

 

AON CORPORATION

 

EXCESS BENEFIT PLAN

 

TABLE OF CONTENTS

 

	
  Section

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  1

  	
  ESTABLISHMENT
  AND CONSTRUCTION

  	
  1

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  1.1

  	
  Establishment

  	
  1

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  1.2

  	
  Purpose

  	
  1

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2

  	
  DEFINITIONS
  AND CONSTRUCTION

  	
  2

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.1

  	
  Definitions

  	
  2

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.2

  	
  Gender
  and Number

  	
  3

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.3

  	
  Employment
  Rights

  	
  4

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.4

  	
  Severability

  	
  4

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.5

  	
  Applicable
  Law

  	
  4

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  3

  	
  PARTICIPATION

  	
  4

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  3.1

  	
  Eligibility
  to Participate

  	
  4

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4

  	
  EXCESS
  PENSION PLAN BENEFIT

  	
  5

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.1

  	
  Amount
  of Pension Plan Benefits

  	
  5

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.2

  	
  Eligibility
  for EBP Benefits

  	
  5

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5

  	
  FORM AND
  COMMENCEMENT OF PENSION BENEFITS

  	
  5

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6

  	
  GENERAL
  PROVISIONS

  	
  6

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.1

  	
  Administration

  	
  6

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.2

  	
  Appointment
  of a Delegate

  	
  6

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.3

  	
  Claims
  Procedure

  	
  7

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.4

  	
  Expenses

  	
  8

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.5

  	
  Indemnification
  and Exculpation

  	
  8

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.6

  	
  Corporate
  Action

  	
  9

  	
   

  
						

 

i

 

	
  Section

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.7

  	
  Interests
  not Transferable

  	
  9

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.8

  	
  Effect
  on Other Benefit Plans

  	
  9

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.9

  	
  Tax
  Liability

  	
  9

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  7

  	
  AMENDMENT
  AND TERMINATION

  	
  10

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  CERTIFICATON

  	
  10

  	
   

  
						

 

ii

 

AON CORPORATION

 

EXCESS BENEFIT PLAN

 

Article I, Establishment and
construction

 

1.1           Establishment. Aon Corporation (the “Company”)
hereby establishes, effective as of January 1, 1989, an unfunded deferred
compensation plan on behalf of a select group of management or highly
compensated employees of any subsidiary of the Company which has adopted the
Aon Pension Plan (the “Plan”) . This document defines the provisions of such
plan and shall be known as the “Aon Corporation Excess Benefit Plan.”

 

1.2           Purpose.
The company maintains the Plan, which is intended to meet the requirements of a
“qualified” retirement plan under Section 401(a) of the Internal
Revenue Code of 1986, as amended (“Code”). The Plan contains certain
restrictions that sometimes result in a diminution of benefits available to
certain highly compensated employees. This plan is established to replace
benefits lost due to this diminution for eligible employees; and consequently
it is intended to be an unfunded deferred compensation plan for a select group
of management or highly compensated employees, as described in sections 201(2),
301(a) (3), and 401(a) (1) of the Employee Retirement Income
Security Act of 1974 (“ERISA”).

 

1

 

Article II. Definitions and
Construction

 

2.1 Definitions. The following terms shall have the meaning
stated below unless the context clearly indicates otherwise.

 

(a)            “Actuarial
Equivalent” means an amount equal in value to the benefit replaced as
determined (i) in accordance with the terms of the Aon Pension Plan with
respect to the determination of any form of benefit other than a single sum,
and (ii) with respect to a single sum distribution, by using: (A) an
assumed annual discount rate equal to the rate specified by the Pension Benefit
Annuity Corporation (either immediate or deferred) for use in plan terminations
in effect at the date of determination, and (B) assumed mortality in
accordance with the 1984 Unisex Pension Mortality Table set back 2 years.

 

(b)           “Annual
Earnings” shall have the same meaning as defined in the Aon Pension Plan.

 

(c)            “Beneficiary”
means the person designated by a participant of each of the Plans to receive a
benefit from each of such Plans on account of the participant’s death.

 

(d)           “Code”
means the Internal Revenue Code of 1986, as amended from time to time.

 

(e)            “Committee”
shall mean the Organization and Compensation Committee of the Board of
Directors of Aon.

 

(f)            “Company”
shall mean all operating subsidiaries of Aon Corporation.

 

(g)           “Compensation
Limit” means the limitation on the amount of Annual Earnings which may be
considered after application of

 

2

 

Code
Section 401(a) (17).

 

(h)           “Excess
Benefit Plan” or “EBP” shall mean the benefit and contribution arrangements set
forth herein.

 

(i)             “Maximum
Annual Benefit Limitation” shall mean the limitation imposed by Code section
415 on benefits payable by defined benefit pension plans qualified under Code
sections 401(a) including application of the combination limitations of
Code section 415(e) to cause a further reduction, if any, of such
benefits.

 

(j)             “Member”
shall mean a person who accrues a benefit under this Excess Benefit Plan as
provided in Section 3.

 

(k)            “Pension
Plan”  shall mean the Aon Pension Plan.

 

(1)            “Spouse”
means the person to whom a Member is legally married under the laws of the State
of the Member’s domicile as of his date of death.

 

(m)           “Subsidiary”
means a subsidiary of the Company designated by the Committee to participate in
this Excess Benefit Plan.

 

Unless the context clearly indicates otherwise,
terms not defined in this document shall have the meaning specified in the
Pension Plan, as amended from time to time (if defined therein) . Where the
defined meaning is intended, the term is capitalized.

 

2.2           Gender
and Number. Except when otherwise indicated by the context, words in the
masculine gender shall include the feminine and neuter genders; the plural
shall include the singular and the singular shall include the plural.

 

2.3           Employment
Rights.  Establishment of the EBP
shall not

 

3

 

be construed to give any Member the right to be retained by the Company
or any Subsidiary or to any benefits not specifically provided by the EBP.

 

2.4            Severability.
In the event any provision of the EBP shall be held invalid or illegal for any
reason, any illegality or invalidity shall not affect the remaining parts of
the EBP, but the EBP shall be construed and enforced as if the illegal or invalid
provision had never been inserted, and the Company shall have the privilege and
opportunity to correct and remedy such questions of illegality or invalidity by
amendment as provided in the EBP.

 

2.5            Applicable
Law. This EBP is fully exempt from Titles II, III, and IV of ERISA. The EBP
shall be governed and construed in accordance with Title I of ERISA and the
laws of the State of Illinois.

 

Article III.
Participation

 

3.1           Eligibility to
Participate. An employee who attains age 50 shall participate
in this Excess Benefit Plan with respect to a calendar year if the employee is
or was a participant in the Aon Pension Plan, and a benefit becomes payable in
such calendar year under Section 4.1 to that employee.

 

4

 

Article IV. Excess
Pension Plan Benefit

 

4.1           Amount
of Pension Plan Benefits. Except as provided in Section 4.2, benefits
will be paid under the EBP, as provided in Article V, to a Member due to
the Maximum Annual Benefits Limitation, an annual amount payable monthly equal
to the amount by which (a) exceeds (b):

 

(a)          The amount of the annual benefit payable monthly which the
Member would have been entitled to receive under the Pension Plan had the
Pension Plan not applied the Maximum Annual Benefit Limitation in determining
benefits payable from the Pension Plan, For purposes of this Section 4.1(a),
the Annual Earnings used for determining benefits payable from the Pension Plan
shall not be limited by the Compensation Limit.

 

(b)           The
amount of the annual benefit payable monthly which the Member is entitled to
receive under the Pension Plan.

 

4.2           Eligibility
for EBP Benefits. No benefits will be paid under the EBP unless the Member,
at the time of termination, death, disability or retirement, is credited with
at least ten Years of Service for benefit computation purposes as defined in
the Aon Pension Plan.

 

Article V.  Form and Commencement of Pension
Benefits

 

Benefits payable under this EBP shall be paid in the
form and time prescribed below.

 

(a)            After
the termination,  retirement  or death 
of  a participant, benefits shall
commence to be paid and shall be paid

 

5

 

in monthly installments to the eligible Member or surviving spouse, at
the same time and the same manner and form as the benefit which the Member is
entitled to receive under the Plan; provided, however, the Committee, in its
discretion, may convert the benefits payable under this Excess Benefit Plan
into an Actuarial Equivalent single lump sum form of payment or may direct the
benefits to be payable in annual, semi-annual or quarterly installments.

 

(b)           In
order to avoid constructive receipt of income by a Member, the Committee may
require a Member to make certain irrevocable elections regarding the timing and
form of payment of benefits hereunder.

 

Article VI.  General Provisions

 

6.1           Administration.
This EBP shall be administered by the Organization and Compensation Committee
of the Board of Directors of Aon. The Committee shall have all necessary and
appropriate powers, rights, duties, and obligations with respect to this Plan.

 

6.2           Appointment
of a Delegate. The Committee may appoint a Delegate (or Delegates) , and
may delegate and allocate to such agent all or a portion of their powers,
duties, responsibilities and obligations hereunder, subject, nevertheless, to
such policies and rules as may from time to time be established by the
Committee. In the event of such delegation and allocation, the acts of the
Delegate in administering and carrying out the provisions of the Plan shall in
all respects have the same effect as the acts of the Committee, and the
Delegate, in respect to the matters delegated

 

6

 

to him, shall have the same discretion as the Committee. Any person who
has been advised by the Committee of the delegation and allocation of any power,
duty or responsibility to the agent shall be entitled to rely upon the
directions of the Delegate in the same manner as though they were the
directions of the Committee and such reliance may continue until written notice
of the revocation of any such authority is received.

 

6.3           Claims
Procedure.   Pursuant to Section 503
of ERISA the following claims procedure is established.

 

(a)           A
timely written application for benefits shall be filed with the Delegate on a
form prescribed by them.

 

(b)           If
a claim is denied, in whole or in part, written notice of such denial shall be
furnished to the applicant setting forth, in a manner calculated to be
understood by him, the following:

 

(i)                              The specific
reason or reasons for the denial;

 

(ii)                           A specific
reference to pertinent Plan provisions on which the denial is based;

 

(iii)                        A description
of any additional material or information necessary for the claimant to perfect
the claim and an explanation of why such material or information is necessary;

 

(iv)                       An explanation
of the claim review procedure.

 

(c)            An
applicant (or his duly authorized representative) whose claim has been denied
in whole or in part may appeal such denial to the Committee by making a written
request for a review and may review pertinent documents and submit issues and
comments in writing. A written request for review must be filed within 120

 

7

 

days of the date an applicant has been notified of
the denial or partial denial of his claim,

 

(d)           The
decision on review shall be made promptly and within 60 days of receipt of the
request for review, shall be in writing, and shall include specific reasons for
the decision, written in a manner calculated to be understood by the applicant,
and specific references to the pertinent Plan provisions on which the decision is
based.

 

(e)            The
Committee shall have complete discretion as to whether a claim shall be allowed
or denied. The Committee’s decision in this regard shall be final.

 

6.4           Expenses.
The expense of administering the EBP shall be borne by the Company and if not
paid by the Company, by any trust fund established by the Company to satisfy
the liabilities hereunder.

 

6.5           Indemnification
and Exculpation. The members of the Committee, its agents and officers, directors
and employees of the Company shall be indemnified and held harmless by the
Company against and from any and all loss, cost, liability, or expense that may
be imposed under or reasonably incurred by them in connection with or resulting
from any claim, action, suit, or proceeding to which they may be a party or in
which they may be involved by reason of any action taken or failure to act
under this EBP and against and from any and all amounts paid by them in
satisfaction of a judgement in any such action, suit or proceeding. The
foregoing provision shall not be applicable to any person if the

 

8

 

loss, cost, liability, or expense is due to such
person’s gross negligence or willful misconduct.

 

6.6            Corporate Action. Any action required of or
permitted by the Company under this EBP shall be by resolution of its Board of
Directors or any person or persons authorized by resolution of such Board of
Director.

 

6.7           Interests not Transferable. The interests of
the Members and their Spouses under the EBP are not subject to the claims of
their creditors and may not be voluntarily or involuntarily transferred,
assigned, alienated, or encumbered.

 

6.8           Effect on Other Benefit Plans. Amounts
credited or paid under this EBP shall not be considered to be compensation for
the purposes of a qualified pension plan maintained by the Company or any
subsidiary. The treatment of such amounts under other employee benefits plans
shall be determined pursuant to the provision of such plans.

 

6.9           Tax Liability. The Company or Subsidiary may
withhold from any payment of benefits hereunder any taxes required to be
withheld and such sum as such employer may reasonably estimate to be necessary
to cover any taxes for which the Company or subsidiary may be liable and which
may be assessed with regard to such payment.

 

9

 

Article VII. Amendment
and Termination

 

The Company by action of its Board of Directors
reserves the right to amend this EBP from time to time or to terminate the EBP
at any time, but without the written consent of each Member as to his benefit
hereunder, no such action may reduce or relieve the Company or any Subsidiary
of any obligation with respect to any benefit accrued under the EBP by such
Member as of the date of such amendment or termination.

 

CERTIFICATION

 

The undersigned certifies that he is an executive
officer of Aon Corporation, a Delaware Corporation, and that the foregoing Aon
Corporation Excess Benefit Plan, with an effective date of January 1,
1989, was duly adopted and approved by the Board of Directors of Aon
Corporation at meeting of said Board held on the 22nd day of July, 1988.

 

Dated this
               
day of
                                                                                ,
1990.

 

 

	
   

  	
   /s/ [ILLEGIBLE]

  
	
   

  	
   /s/ [ILLEGIBLE]

  
	
   

  	
   /s/ [ILLEGIBLE]

  

 

10

 

First Amendment  to the

Aon Corporation Excess
Benefit Plan

 

Whereas, the Board of Directors of Aon Corporation
desires to amend the Aon Corporation Excess Benefit Plan (the “Plan”) pursuant
to the Board ‘ authority to do so under Article VII of the Plan;

 

Now, therefore, the Plan is amended as follows
effective as of October 1, 1994:

 

Section 2.1(b) of the Plan shall be
amended to read as follows:

 

(b) ”Annual Earnings” shall have the same
meaning as defined in the Aon Pension Plan, except that compensation deferrals
and performance bonus deferrals under the Aon Deferred Compensation Plan shall
be included in the definition for purposes of determining benefits under this
Plan.

 

IN WITNESS WHEREOF, 
Aon Corporation hereby adopts the First Amendment to the Aon Excess
Benefit Plan, effective as set forth above, as of this 16 day of December,
1994.

 

 

	
   

  	
   

  	
  AON
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/ John Reschke

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Executive
  Vice President

  

 

 

Second Amendment to

the Aon Excess Benefit Plan

 

Whereas, the Aon Excess Benefit Plan (the “EBP”) is
generally effective as of January 1, 1989.

 

Whereas, the Board of Directors of Aon Corporation
desires to amend the EBP pursuant to the Board’s authority to do so under Article VII
of the EBP.

 

Now, therefore,
the EBP, as set out in the Restatement, is amended as follows, effective as of January 1,
1998:

 

Section 4.3. A new section 4.3 shall be
added to the EBP to read as follows:

 

4.3                           Alexander &
Alexander Services. Inc., Employees. The amount of benefits as
determined under Section 4.1 with respect to participants in the Alexander &
Alexander Services, Inc., and Subsidiaries Supplemental Executive Retirement
Plan for Key Employees and to participants in the Alexander &
Alexander Services, Inc., and Subsidiaries Supplemental Executive
Retirement Plan for Senior Management (the “A&A Plans”) shall be reduced by
any benefit computed under the terms of the A&A Plans.

 

Section 4.4. A new section 4.4 shall be
added to the EBP to read as follows:

 

4.4                           Aon 1999
Voluntary Retirement Program. In addition to benefits
described in Section 4.1, benefits will be paid under the EBP in
accordance with the terms of the Aon 1999 Voluntary Retirement Program (the “Program”)
to a Member: (a) who is a Participant in the Program; and (b) whose
benefits under the terms of the Program are limited by the Maximum Annual
Benefits Limitation or Compensation Limit. No benefits under the EBP shall be
paid, however, with respect to any other voluntary, involuntary, or other
retirement program, except as set forth under Section 4.1.

 

 

IN WITNESS WHEREOF, Aon Corporation hereby adopts this Second Amendment
to the Aon Excess Benefit Plan, effective as set forth above, as of this 23rd day
of June,1999.

 

 

	
   

  	
  AON
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  
	
   

  	
   

  
	
   

  	
      /s/
  Daniel T. Cox

  	
   

  
	
   

  	
  Daniel T. Cox

  
	
   

  	
  Executive Vice President

  

 

2

 

Exhibit A

 

Third Amendment to the

Aon Excess Benefit Plan

 

Whereas, the Aon Excess
Benefit Plan (the “EBP”) is generally effective as of January 1, 1989.

 

Whereas, the Board of
Directors of Aon Corporation desires to amend the EBP pursuant to the Board’s
authority to do so under Article VII of the EBP.

 

Now, therefore, the EBP is amended as follows, effective as of January 18,
2002:

 

Section 4.1    Subsection (a) of Section 4.1
shall be deleted and the following substituted in its place to read as follows:

 

(a)                           The amount of
the annual benefit payable monthly which the Member would have been entitled to
receive under the Pension Plan had the Pension Plan not applied the Maximum
Annual Benefit Limitation in determining benefits payable from the Pension
Plan. For purposes of this Section 4.1(a), the Annual Earnings used for
determining benefits payable from the Pension Plan: (i) shall not be
limited by the Compensation Limit; and (ii) shall not exceed $500,000 for
plan years after 2001.

 

IN
WITNESS WHEREOF, Aon Corporation has adopted this Third Amendment to the Aon
Excess 

 

Benefit
Plan, effective as set forth above.

 

 

	
   

  	
  AON
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  
	
   

  	
   

  
	
   

  	
  /s/
  John A. Reschke

  	
   

  
	
   

  	
  John
  A. Reschke

  
	
   

  	
  Vice
  President

  

 

 

WHEREAS, the Aon Excess Benefit Plan (the “EBP”), as amended, is generally
effective as of January 1, 1989.

 

WHEREAS, the Board of Directors of Aon desires to amend the EBP
pursuant to the Board’s authority to do so under Article VII of the EBP.

 

NOW,
THEREFORE, the EBP is amended as follows, effective immediately:

 

Fourth Amendment to the Aon
Excess Benefit Plan

 

A new Section 4.5 shall be added to read as follows:

 

4.5                                Forfeiture Upon
Termination for Cause, for Violation of Competition and Hiring Provisions or
for Disclosure of Trade Secrets or Confidential Information. A Member’s
right to receive any payments under the EBP, including any remaining payments
if distribution of a Participant’s Accounts under the EBP has commenced after
the effective date of this Section 4.5, shall be forfeited if he or she:

 

(a)                                 is terminated
for Cause as defined in Section 4.6 below;

 

(b)                                has, during or
after employment, in the sole judgment of the Chief Executive Officer of the
Company, after reasonable investigation, breached the competition or hiring
prohibitions described in Section 4.7; or

 

(c)                                 has, during or
after employment, in the sole judgment of the Chief Executive Officer of the
Company, after reasonable investigation, breached the trade secrets or
confidential information prohibitions described in 4.7 below.

 

A new Section 4.6 shall be added to read as follows:

 

4.6           Cause.

 

“Cause” means the employee’s (a) performing an act of dishonesty,
fraud, theft, embezzlement, or misappropriation involving employee’s employment
with the Company; (b) performing an act of race, sex, national origin,
religion, disability, or age-based discrimination; (c) violation of Aon
Business Conduct Guidelines and the Aon Code of Ethics, or Company insider
trading policies; (d) performing any act resulting in a criminal felony
charge brought against the employee; (e) use of alcohol in such a manner
as to interfere with the performance of duties for the Company or illegal use
of drugs or controlled substances.

 

 

A new Section 4.7 shall be added to read as
follows: 

 

4.7           Competition
and Hiring.

 

(a)                                 Non-Competition. Except with
the prior written consent of the Chief Executive Officer of the Company or his
designee, an employee or former employee shall not, until all of the benefits
under this EBP are fully vested and distributed, Compete in any way with the Business
of the Company. “Business” shall mean the businesses of insurance and
reinsurance brokerage, benefits consulting, compensation consulting, human
resources consulting, managing underwriting, loss prevention, soliciting and
servicing the insurance and reinsurance needs of commercial and individual
clients and related services, including accounting, claims management and
processing, information systems and actuarial services.

 

(b)                                Prohibition on
Hiring. Except with the prior written consent of the Chief Executive Officer
of the Company or his designee, an employee or former employee shall not until
all of the benefits under this EBP are fully vested and distributed, induce or
cause any person or other entity to induce any person who is an employee of the
Company to leave the employ of the Company.

 

(c)                                 “Compete in any
way with the Business of the Company” means to provide services as an employee
or otherwise related to the Business (as defined in Section 4.7(a)), on
one’s own behalf or on behalf of any individual, partnership, company, or other
entity other than the Company; provided, however, if employment is terminated
by the Company for other than Cause, “Compete in any way with the Business of
the Company” shall mean to enter into or attempt to enter into (on one’s own
behalf or on behalf of any other person or entity) any business relationship of
the same type or kind as the business relationship which exists between the
Company and its clients or customers to provide services related to the
Business for any individual, partnership, company, association or other entity
who or which was a client or customer for whom the employee was the producer or
on whose account employee worked or became familiar while employed by the
Company.

 

(d)                                Trade Secrets
and Confidential Information. An employee or former
employee shall not disclose or use during (except as required in the course of
employment with the Company) or subsequent to the termination of employment,
any trade secrets or confidential or proprietary information of the Company of
which the employee became aware by reason of being employed by the Company or
to which the employee gained access during his employment by the Company and
which has not been publicly disclosed (other than by the employee in breach of
this provision) or fail, upon termination of employment, to promptly return to
the Company all materials and all copies or tangible embodiments of materials
involving

 

2

 

any trade secrets or confidential information in
employee’s possession or control. Such information includes client and customer
lists, data, records, computer programs, manuals, processes, methods and
intangible rights which are either developed by the employee during the course
of employment or to which the employee has access.

 

A new Section 4.8 shall be added to read as follows:

 

4.8           Company
Defined.

 

For purposes of Sections 4.5, 4.6 and 4.7, “Company”
shall mean the Company and each of its subsidiaries.

 

3

 

Fifth Amendment to the

Aon Excess Benefit Plan

 

WHEREAS, the Aon Excess
Benefit Plan (the “EBP”), as amended, is generally effective as of January 1,
1989.

 

WHEREAS, the Board of
Directors of Aon desires to amend the EBP pursuant to the Board’s authority to
do so under Article VII of the EBP.

 

NOW, THEREFORE, the EBP is amended as follows,
effective November 21, 2003:

 

1.              The Fourth Amendment to the
Aon Excess Benefit Plan, adopted October 20, 2003, is hereby repealed.,
effective November 21, 2003.

 

2.    A new Section 4.5 shall be added to read as follows:

 

4.5                              Forfeiture   of 
Payments   Under   Certain  
Circumstances.  A Member’s
right to receive any payments under the EBP, including any remaining payments
if distribution of a Participant’s Accounts under the EBP has commenced after
the effective date of this Section 4.5, shall be forfeited if he or she:,

 

(a)              is terminated for
Cause.   For purposes of Section 4.5,
“Cause” means the employee’s (a) performing an act of dishonesty, fraud, theft,
embezzlement, or misappropriation involving employee’s employment with the
Company; (b) performing an act of race,’ sex, national origin, religion,
disability, or age-based discrimination; (c) violation of Aon Business
Conduct Guidelines and the Aon Code of Ethics, or Company insider trading
policies; (d) performing any act resulting in a criminal felony charge
brought against the employee; (e) use of alcohol in such a manner as to
interfere with the performance of duties for the Company or illegal use of
drugs or controlled substances;

 

(b)             has, during or after
employment, in the sole judgment of the Chief Executive Officer of the Company,
after reasonable investigation, breached any of the following prohibitions:

 

(i)                                      Prohibition on
Hiring. Except with the prior written consent of the Chief Executive Officer
of the Company or his designee, an employee or former employee shall not, until
all of the benefits under this EBP are fully vested and distributed, induce or
cause any person or other entity to induce any person who is an employee of the
Company to leave the employ of the Company;

 

 

(ii)                                   Prohibition on
Competition. Except with the prior written consent of the Chief
Executive Officer of the Company or his designee, an employee or former employee
shall not, until all of the benefits under this EBP are fully vested and
distributed, Compete in any way with the Business of the Company.

 

(A)                              “Compete in any
way with the Business of the Company” shall mean to enter into or attempt to
enter into (on one’s own behalf or on behalf of any other person or entity) any
business relationship of the same type or kind as the business relationship
which.exists between the Company  
and   its   clients  
or   customers   to provide services related to the Business
for any individual, partnership, company, association or other entity who or
which was a client or customer of the Company in the 24 months prior to the end
of employment or was a Prospective Client or Customer of the Company.

 

(B)                                “Business”
shall mean the businesses of insurance and reinsurance brokerage, benefits
consulting, compensation consulting, human resources consulting, managing
underwriting, loss prevention, soliciting and servicing the insurance and
reinsurance needs of commercial and individual clients and, with respect to
each of the above, related services, including accounting, claims management
and processing, information systems and actuarial services.

 

(C)                                “Prospective
Client or Customer” of the Company means any individual, partnership, company,
association or other entity to whom or for which a proposal for services was
rendered by the Company during the six months prior to the end of employment.

 

(iii)                                Prohibition on
Disclosing Trade Secrets and Confidential Information. An employee
or former employee shall not disclose or use during (except as required in the
course of employment with the Company) or subsequent to the

 

 

termination of employment, any trade secrets or  confidential or proprietary information of the
Company of which the employee became aware by reason of being employed by the
Company or to which the employee gained access during his employment by the
Company and which has not been publicly disclosed (other than by the employee
in breach of this provision) or fail, upon termination of employment, to
promptly return to the Company all materials and all copies or tangible
embodiments of materials involving any trade secrets or confidential
information in employee’s possession or control. Such information includes
client and customer lists, data, records, computer programs, manuals,
processes, methods and intangible rights which are either developed by the
employee during the course of employment or to which the employee has access;

 

(iv)                               Other
Prohibitions. An employee or former employee shall not engage in
any form of conduct or make any statements or representations that disparage or
otherwise significantly harm the reputation, goodwill or commercial interests
of the Company.

 

(c)                              For purposes of
Section 4.5 “Company” shall mean the Company and each of its subsidiaries.

 

IN WITNESS WHEREOF, Aon Corporation hereby adopts this Fifth Amendment
to the Aon Excess Benefit Plan, effective as set forth above, as of this 21  day of November, 2003.

 

	
   

  	
  AON
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ John Reschke

  
	
   

  	
   

  
	
   

  	
  Its:

  	
  Vice
  President

  

 

 

Sixth Amendment to the

Aon Corporation Excess
Benefit Plan

 

WHEREAS, the Aon Corporation Excess Benefit Plan (the “EBP”), as
amended, is generally effective as of January 1, 1989.

 

WHEREAS, the Board of Directors of Aon Corporation desires to amend the
EBP pursuant to the Board’s authority to do so under Article VII of the
EBP.

 

NOW, THEREFORE, the EBP is amended as follows, effective January 1,
2006:

 

Section 4.1            Subsection (a) of Section 4.1 shall be deleted
and the following substituted in its place to read as follows:

 

“ (a)        The
greatest of:

 

(i)           the
amount of the annual benefit which the Member would have been entitled to
receive under the Pension Plan had the Pension Plan not applied the Maximum
Annual Benefit Limitation in determining benefits payable from the Pension
Plan. For purposes of this Section 4.1(a)(i), the Annual Earnings used for
determining benefits payable from the Pension Plan: (A) shall not be
limited by the Compensation Limit; and (B) shall not exceed $500,000 for
plan years after 2001;

 

(ii)          the
amount determined under Section 4. l(a)(i) as of December 31,
2005; or

 

(iii)         the
amount of an annual benefit equal to one percent of the Member’s Final Average
Earnings multiplied by the Member’s Years of Service, up to a maximum annual
benefit equal $500,000 per year payable in the form of a single life annuity.
For purposes of this Section 4.1 (a)(iii), the amount of the Member’s Final
Average Earnings used for determining benefits payable shall not be limited by
the Compensation Limit.”

 

 

IN WITNESS WHEREOF, Aon
Corporation hereby adopts this Sixth Amendment to the Aon Corporation Excess
Benefit Plan, effective as set forth above, as of this 8 day of  May  2006.

 

 

	
   

  	
  AON
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  
	
   

  	
   

  
	
   

  	
  /s/
  John A. Reschke 

  
	
   

  	
  John
  A. Reschke 

  
	
   

  	
  Vice
  President, Employee Benefits

  

 

2

 

Sixth Amendment to the

Aon Corporation Excess
Benefit Plan

 

WHEREAS, the Board of
Directors of Aon Corporation desires to amend the Aon Corporation Excess
Benefit Plan (the “Plan”) pursuant to the Board’s authority to do so under Article VII
of the Plan;

 

NOW, THEREFORE, the Plan is amended as follows
effective January 1, 2006:

 

Article VII. Article VII shall be
deleted and the following substituted in its place:

 

Article VII. Amendment and
Termination. The Company reserves the right to amend the Plan from time to time
or terminate the Plan at any time. Amendment, modification or termination of
the Plan shall be by action of the Board of Directors, or by action of any
person or entity authorized by the Board of Directors. Such amendment shall be
stated in an instrument in writing.

 

IN WITNESS WHEREOF, Aon Corporation has
adopted this Sixth Amendment to the Aon Corporation Excess Benefit Plan,
effective as set forth above.

 

 

	
   

  	
  AON
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ John Reschke

  
	
   

  	
  Its:

  	
   VP Employee Benefits

  

 

 

Eighth Amendment to the

Aon Corporation Excess
Benefit Plan

 

WHEREAS, the Aon Corporation
Excess Benefit Plan (the “EBP”), as amended, is generally effective as of January 1,
1989.

 

WHEREAS, the Board of Directors of Aon Corporation
desires to further amend the EBP pursuant to the Board’s authority to do so
under Article VII of the EBP.

 

NOW, THEREFORE, the EBP is amended as follows,
effective as of January 1, 2007:

 

1.             Section 2.1.
Subpart (e) of Section 2.1 is hereby deleted in its entirety and 
substituted with the following:

 

(e) “Committee” means the Administrative
Committee established pursuant to the Aon Pension Plan.

 

2.             Section 6.1.
Section 6.1 is hereby deleted in its entirety and substituted  with
the following:

 

6.1 Administration. This EBP shall be
administered by the Committee. The Committee shall have all necessary and
appropriate powers, rights, duties and obligations with respect to this plan.

 

IN  
WITNESS   WHEREOF,   Aon  
Corporation   hereby   adopts  
this   Eighth Amendment to the Aon
Corporation Excess Benefit Plan, effective as set forth above.

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