Document:

EX-4.8 TECHNOLOGY LICENSE AGREEMENT, DATED JUNE 11

Exhibit 4.8

English Translation of Chinese Original

HANDWRITTEN CHINESE CHARACTERS RECOGNITION

TECHNOLOGY LICENSE CONTRACT

PARTY A: CEC Telecom Co., Ltd.

Address: F10, China Electronics and Information Building

  6 South Street Zhongguancun, Beijing

PARTY B: Hanwang Technology Co., Ltd.

Address: 5 Building, Zhongguancun Software Park

  Haidian District, Beijing

After mutual friendly consultation, Party A and Party B hereby reach the following agreements with
respect to the licensing of the Hanwang Software (defined as below) by Party B to Party A for the
purpose of Party A to use such licensed technology in the products independently developed by Party
A or the ODM/OEM mobile phone series of Party A (“Products”):

	1.	 	Hanwang Software

	1.1	 	Definition: “Hanwang Software” refers to Hanwang handwritten Chinese characters
recognition technology system (including Hanwang Handwritten Chinese Characters Recognition
Core Software PDA 2.0 Version), which is to be used in the Products and the recognition
ratio of the Chinese characters in regular scrip style of which shall meet the requirements
of Party A.
	 
	1.2	 	Authorization: Party B hereby grants Party A a license to use the Hanwang Software in
the Products according to this Contract during the licensing period agreed hereunder.
Party A shall pay royalties to Party B for the use of Hanwang Software.
	 
	1.3	 	Provision of the Technology: Party B shall provide Party A with the Hanwang
Software meeting the specifications set forth under the Technology Specifications attached
hereto as exhibits. If Party A needs to use the Hanwang Software on different platforms,
the parties shall enter into a separate Technology Specifications with respect thereto.

	2.	 	Rights and Obligations of Party A

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English
Translation of Chinese Original

	2.1	 	Party A hereby warrants that it will use the Hanwang Software provided by Party B in
its application program.
	 
	2.2	 	Party A hereby warrants that, without prior written consent of Party B, Party A shall
not sell, transfer, lease or sub-license all or any part of the Hanwang Software or any
documents with respect thereto.
	 
	2.3	 	Party A shall notify Party B of the launching time, models and actual sales volume for
those Products with Hanwang Software. Party A shall notify Party B of the sales volume
every three month after the Products are commercially launched, i.e., it shall notify Party
B in writing of the sales volume before the 10th of all of the fourth months immediately
following all such three months. Party B shall confirm the sales volume provided by Party
A within five (5) business days and upon confirmation, it shall issue invoices every
quarter based on the actual shipments for the sales over 50,000 units. Party A shall pay
royalties to Party B within seven (7) business days following the receipt of such invoices
issued by Party B.
	 
	2.4	 	Party A shall not disclose the price offered by Party B in this contract to any third
party, including but not limited to any end customers of each party hereto. Any such
disclosure shall be regarded as breach of this contract by Party A.

	3.	 	Rights and Obligations of Party B:

	3.1	 	Party B shall have the right to display its name and the logo of the Products in the
Hanwang Software provided by Party B hereunder.
	 
	3.2	 	Party B warrants that the Hanwang Software provided hereunder is covered by legitimate
copyright and Party B has obtained the required governmental approvals for such Hanwang
Software, and it shall provide Party A with all relevant proof documents with respect
thereto.
	 
	3.3	 	Party B warrants that all the Hanwang Software it provides to Party A hereunder shall
have met the requirements of Party A. In case of any problems occurs to the use of the
Products due to reasons attributable to Party B, Party B shall carry out repair work with
respect to such problems, and shall provide the repaired software to Party A free of
charge. If Party A sustains any significant losses from such problems, Party B shall
compensate Party A accordingly.
	 
	3.4	 	If, according to the investigation of Party B, there is any difference between the
actual sales volume of the Products and the sales volume reported by Party A, Party A shall
make up such difference, and Party B

	 	3.4.1	 	shall have the right to request Party A to assume any and all expenses incurred by
Party A in connection with such investigation;
	 
	 	3.4.2	 	shall have the right to request Party A to compensate Party B for all the losses
arising therefrom, which shall be calculated as follows: the difference

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English
Translation of Chinese Original

	 	 	 	between the actual
sales volume and the sales volume provided by Party A X RMB 7, and/or
	 
	 	3.4.3	 	may terminate this Contract and withdraw the license it grants to Party A hereunder.

	4.	 	Licensing Period

	4.1	 	The term of this Contract shall be one (1) years from the date it becomes effective,
and may be automatically extended unless otherwise terminated according to Section 4.2.
	 
	4.2	 	Upon the expiration of the initial term of this Contract, it may be automatically
extended for a term of one (1) year, unless either party notifies the other party of its
intent to terminate this Contract ninety (90) days prior to the expiration of each term of
this Contract.

	5.	 	Licensing Price for Hanwang Software:

	5.1	 	Development Fee: For each platform using the technology of Party B, Party A does not
need to pay Party B any development fee.
	 
	5.2	 	Copyright Fee: Party A agrees to pay a copyright fee to Party B as follows: (in which,
“per piece” means one piece of “Software” used in any “Product”):

	 	 	 	 	 	 	 
	 
	 	1 to 200,000 piece(s)
	 	RMB 3.5 per piece	 	 
	 	 	 	 	 	 	 
	 
	 	200,001 to 500,000 pieces
	 	RMB 3.0 per piece	 	 
	 	 	 	 	 	 	 
	 
	 	above 500,000 pieces
	 	to be discussed separately	 	 

	6.	 	Payment method:

	6.1	 	Initial Purchase Order

	 	 	The two parties agree that Party A shall place an initial order for 50,000 pieces of
Hanwang Software. The price of each piece of Hanwang Software subject to the initial purchase
order shall be RMB 3.5, including a value-added tax calculated on a tax rate of 17%.
Party A shall pay RMB 105,000 to Party B within five (5) business days from the date of
this contract, representing 60% of the payment for the initial purchase order, and shall
pay the remaining 40% of the payment, which shall be RMB 70,000 by November 30,
2007.
	 
	6.2	 	After Party A sells the 50,000 Products incorporating the Hanwang Software
provided by Party B, Party A shall continue to purchase Hanwang Software licensed hereunder
for the prices agreed under Section 5.2 hereof.

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English
Translation of Chinese Original

	6.3	 	Payment Delay: If Party A fails to make payments in time according to this contract,
Party A shall pay liquidated damages of 0.1% of the overdue payment for each day
when such payment is delayed.

	7.	 	Delivery and Check and Acceptance of Hanwang Software

	7.1	 	Delivery: Upon the effectiveness of this contract, Party B shall submit the
Hanwang Software meeting the technical specifications of Party A within two (2)
business days following its receipt of the RMB 105,000 paid to it.
	 
	7.2	 	Check and acceptance: Party A shall issue a check and acceptance report with
respect to the Hanwang Software delivered by Party A within ten (10) business days
following its receipt of such software. If Party A fails to provide such report during the
period, it shall be deemed that Party A has accepted such Hanwang Software.

	8.	 	Payment Account

	 	 	Account Name: Hanwang Technology Co., Ltd.
	 
	 	 	Bank: Bank of Beijing, Zhongguancun branch
	 
	 	 	Account Number: 01090302900120105472974

	9.	 	Confirmation on Sales Volume:

	9.1	 	Party A hereby designates Song Shuo from its Product Department (Position: Software
Manager; Tel: 010-62501728-2099) to provide a written report to Party B with respect to
the actual sales volume of the Products with Hanwang Software, and Party B hereby
designates Xu Hao from its Third Department of Key Client (Position: Client Manager;
Tel: 010-82786699-8186) to check the data provided by Party A and reply to Party A in
writing to confirm the sales volume.

	10.	 	Technology and Service

	10.1	 	The Hanwang Software to be delivered by Party B to Party A includes interface function
and design documents, but does not include any key original code.
	 
	10.2	 	With respect to the problems resulted from the quality of the Hanwang Software, either
raised during the distribution of the Products by Party A or raised by the customers, Party
B undertakes to solve such problems and send its resolution to Party A within ten (10)
business days following its receipt of the written notice with respect thereto from Party
A. If Party B fails to solve the problems within such ten (10) business days, Party B
shall explain the reasons to Part A in writing, and the parties shall negotiate to solve
such problems.

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English
Translation of Chinese Original

	10.3	 	Party B shall provide free training and services with respect to the Hanwang Software
to Party A by phone, facsimile, mails or e-mail.
	 
	10.4	 	If the services provided in Section 10.3 fails to solve the problems caused by the
Hanwang Software, Part B shall provide free face to face technical support service.
	 
	10.5	 	If, during the term of this Contract, there is any upgrade version of the Hanwang
Software, Part B shall inform Party A of such upgrade version and the Hanwang Software that
have been delivered to Party A may be upgraded free of charge.
	 
	10.6	 	If, after the Hanwang Software is accepted by Party A according to the Technology
Specifications, Party A requests any technical changes that is beyond the Technology
Specifications, such technical changes shall be deemed as a request for a new software, and
Party B shall endeavor to satisfy Party A’s such request.
	 
	10.7	 	If Party B makes any adjustment or change to the system environment on which the
Hanwang Software is based, which causes the compatible issue between the Hanwang Software
and such system environment, Party B shall, upon the request of Party A, provide free
upgrades and technical support.

	11.	 	Intellectual Property Rights and Confidentiality

	11.1	 	The ownership and intellectual property rights of the Hanwang Software under this
contract shall be vested in Party B, and Party A is licensed hereunder to use such
software. Party B warrants that the Hanwang Software does not infringe any intellectual
property rights or any other legitimate interests of any third parties. If Party A or any
third party sustains any losses arising from such infringements, Party B shall be solely
responsible for such losses.
	 
	11.2	 	Both parties shall keep confidential this contract, the cooperative relationship
between the two parties hereunder and any confidential information received by one party
(the “Receiving Party”) from the other party (“Disclosing Party”) during
their performance of this contract, including but not limited to the related technical
materials and information regarding the corporate structure, operation method, marketing,
operation and finance of the Disclosing Party, no matter in writing, verbal, graphics,
electromagnetic or any other form. With respect to verbal information, the Disclosing Party
shall record such information in writing and send such record to the Receiving Party within
a reasonable period of time after it notifies the Receiving Party of such verbal
information. The Receiving Party shall neither disclose such confidential information to
any third parties, including the employees of the Receiving Party or its affiliates who do
not participating in the transactions contemplated hereunder or who have not execute any
confidentiality contract, nor use such confidential information for any purposes other than
those as agreed herein. The Receiving Party may not reverse compile, disassemble, analyze
or modify any technology or software it

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English
Translation of Chinese Original

	 	 	receives from the Disclosing Party. In the event
that the Disclosing Party requests, in writing, the Receiving Party to return all the
confidential information it disclosed to the Receiving Party, the Receiving Party shall
immediately return to the Disclosing Party all such written or tangible confidential
information and all documents describing or summarizing such confidential information.
	 
	11.3	 	If the two parties need to enter into a separate confidentiality contract, the rights
and obligations with respect to the confidential information shall follow the terms and
conditions set forth under such confidentiality contract.
	 
	11.4	 	The term of the obligations to keep the confidential information in confidence shall
be from the date of this contract to the third year following the termination of this
contract.

	12.	 	Termination

In the event of any of the following events, this contract may be terminated upon prior written
notice of either party:

	12.1	 	Either Party A or Party B seriously violates its substantial obligations hereunder,
and upon written notice of the non-breaching party, such breaching party fails to take any
effective remedies to correct its breaching activity;
	 
	12.2	 	Party A intentionally reports a wrong sales volume of the Products;
	 
	12.3	 	If, for the benefit of the creditors of a party hereto, such party has been appointed
a receiver or a transferee for its assets, or becomes bankrupt or insolvent or is unable to
perform this contract due to any other reasons, other than the circumstances prohibited
under the applicable bankruptcy law;
	 
	12.4	 	Upon the termination or expiration of this contract, Party A shall cease to produce
any products incorporating the Hanwang Software; provided however that, with respect to the
Products which have been produced prior to the termination of this contract, Party A must
notify Party B in writing of the inventory of such Products ten (10) days prior to the
termination or expiration of this contract, and shall undertake that it will not produce
any new Products after it sells such inventory.
	 
	12.5	 	Upon the termination of this Contract for whatever reasons, the provisions regarding
confidentiality, intellectual property rights, dispute resolution, liabilities for breach
of contract and any other provision which shall continue to be effective in its nature
shall survive this Contract, without prejudice to the rights of the party sustaining losses
to seek any other remedies available to it.

	13.	 	Default Liabilities

	13.1	 	Each of Party A and Party B shall strictly perform its respective obligations hereunder.
Where either party hereto breaches any of its obligations hereunder,

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English
Translation of Chinese Original

	 	 	it shall take effective
remedial measures in accordance with relevant provisions hereunder. Where such remedial
measures fail to compensate for the direct economic losses suffered by the non-breaching
party, the breaching party shall compensate the non-breaching party for any difference
therebetween.
	 
	13.2	 	The breaching party shall indemnify the non-breaching party against any direct economic
losses suffered by the non-breaching party arising from the breach, including without
limitation, litigation costs and other direct economic losses.
	 
	13.3	 	Any liquidated damages and indemnities payable by the breaching party to the non-breaching
party hereunder shall within ten (10) days as from the date on which the default liabilities
are determined, be paid up by the breaching party or directly deducted by the non-breaching
party from any relevant amounts
hereunder. Any liquidated damages or indemnities fail to be so paid up or directly
deducted shall be treated as overdue payment.
	 
	13.4	 	In case this contract is rendered unable to be performed or the performance of this contract
is delayed as a result of the occurrence of any of the following events (each a “Force Majeure
Event”), neither party hereto shall be liable for any loss so caused:

	 	(A)	 	any governmental action or change to any law or regulation;
	 
	 	(B)	 	a war, civil riot, flood, fire, typhoon or earthquake or any
other act of God or similar event; or

	 	(C)	 	any other event that is beyond the control of either party hereto.

	 	 	provided, however that, the party affected by the Force Majeure Event shall take all
actions possible to mitigate any losses caused by the failure to perform or the delay in
the performance of this contract, notify the other party in a timely manner, and provide
the other party with evidence of the occurrence of the Force Majeure Event issued by
relevant governmental authorities. In the case of a Force Majeure Event, the parties
hereto shall consult with each other to determine whether to continue with the performance
of this contract or terminate this contract.

	14.	 	Venue for Contract Execution. This contract shall be executed in Beijing.

	15.	 	Governing Law. This contract shall be governed by the laws of the People’s Republic of
China.

	16.	 	Dispute Resolution

	 	 	Any dispute relating to this contract between the parties hereto shall be resolved through
friendly negotiations between the parties hereto. Where any dispute fails to be resolved
through such negotiations, the parties hereby agree that such

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English
Translation of Chinese Original

	 	 	dispute shall be submitted to
Beijing Municipal Haidian District Court for resolution through litigation. The litigation
costs shall be borne by the losing party.

	17.	 	The Technology Specifications attached hereto as an exhibit shall form a part of this
contract and shall have the same legal force and effect as this contract.

	18.	 	Any matters not covered hereunder shall be subject to the friendly negotiations between the
parties hereto, and any agreements reached between the parties hereto with respect to any
matters not covered hereunder may be set forth in written supplementary contracts signed by
the authorized representatives of each Party A and Party B, which shall form an effective part
of this contract.

	19.	 	This contract shall be performed and construed in accordance with the Chinese version and
any translation of this contract in any other language may be used as reference only and may
not affect the interpretation of this contract.

	20.	 	This contract shall take effect upon being signed and sealed by both Party A and Party B.
This contract shall be executed in four (4) counterparts with each of Party A
and Party B to hold two, all of such counterparts so executed shall have the equal legal force
and effect.

	 	 	 
	Party A: CEC Telecom Co., Ltd.
(affixed with company seal)

	 	Party B: Hanwang Technology Co.,
Ltd. (affixed with company seal)
	 
	 	 
	Signed by the authorized representative:

	 	Signed by the authorized representative:
	/s/ Song Shuo

	 	/s/ Lü Wei
	 
	 	 
	Dated: June 13, 2007

	 	Dated: June 13, 2007

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English Translation of Chinese Original

CECT C6000 Technology Specification

	 	 	 
	Party A (Full Name): CEC Telecom
Co., Ltd.

	 	Party B (Full Name): Hanwang
Technology Co., Ltd.
	(“Party A”)

	 	(“Party B”)
	 
	 	 
	Signed by Party A’s Chief Technology
Officer: 

                    

	 	Signed by Party B’s Chief Technology Officer: 

                    
	 
	 	 
	Dated:                     

	 	Dated:                     
	 
	 	 
	Party A’s Contact Information

	 	Party B’s Contact Information
	 
	 	 
	 

	 	 

	 
	 	 
	 

	 	 

	 
	 	 
	 

	 	 

Version Update Record:

	 	 	 	 	 	 	 
	Version	 	 	 	Updating	 	Update
	Number	 	Description of Updates	 	Person	 	Date
	 

	 	 
	 	 
	 	 
	 

9

 

English Translation of Chinese Original

To ensure the quality and time delivery of the software developed for Party A’s C6000 products, Party A and Party B have established these Technology Specifications for Software
Development (these “Technology Specifications”) after adequate communications and consultations.
These Technology Specifications sets forth the specifications and requirements that shall be met by
Hanwang Software.

	1.	 	Project Overview (to be completed by Party A)
	 
	 	 	CECT C6000
	 
	 	 	MTK6226M platform
	 
	2.	 	Environment Descriptions

	 	1)	 	Hardware environment
	 
	 	 	 	Main hardware features

	 	l	 	CPU: 52 M
	 
	 	l	 	 RAM: 64M bit
	 
	 	l	 	ROM: 128M bit
	 
	 	l	 	Touch Panel:

	 	2)	 	Software environment
	 
	 	 	 	Software platform OS: nucleus

3. Requirement Summaries

	 	1)	 	Requirement list:

	 	u	 	Compiler name, version and development platform:

ARM tcc.exe version ARM ADS1.2 Build 805
	 
	 	u	 	Character set scope:

	 	n	 	 Simplified Chinese Standard Edition (6763 Simplified Chinese Characters+
5401 Traditional Chinese Characters+ 52 English Letters + 10 Numbers + 42
Punctuation Marks + 4 Gesture Symbols)
	 
	 	n	 	 Traditional Chinese Standard Edition (4096 Simplified Chinese Characters +
13060 Traditional Chinese Characters+ 52 English Letters+ 10 Numbers + 42
Punctuation Marks + 4 Gesture Symbols)

10

 

English Translation of Chinese Original

	 	n	 	 Simplified and Traditional Chinese Unified Edition (6763 Simplified Chinese
+ 13060 Traditional Chinese + 4096 Hong Kong symbols + 52 English Character +10
Number + 42 Punctuation symbols + 4 Gestures symbols)

Party A has chosen the Simplified Chinese Standard Edition (600K)

	 	u	 	 Code output type: Unicode
	 
	 	u	 	 Endianness: Little Endian
	 
	 	u	 	 Identification Database (Identification Dictionary) support method: the
dictionary and the code are not separate

11

 

English Translation of Chinese Original

CECT C3000 Technology Specification

	 	 	 
	Party A (Full Name): CEC Telecom
Co., Ltd.

	 	Party B (Full Name): Hanwang
Technology Co., Ltd.
	(“Party A”)

	 	(“Party B”)
	 
	 	 
	Signed by Party A’s Chief Technology
Officer: 

                    

	 	Signed by Party B’s Chief
Technology Officer: 

                    
	 
	 	 
	Dated:                     

	 	Dated:                     
	 
	 	 
	Party A’s Contact Information

	 	Party B’s Contact Information
	 
	 	 
	 

	 	 

	 
	 	 
	 

	 	 

	 
	 	 
	 

	 	 

Version Update Record:

	 	 	 	 	 	 	 
	Version	 	 	 	Updating	 	Update
	Number	 	Description of Updates	 	Person	 	Date
	 

	 	 
	 	 
	 	 

 

 

English Translation of Chinese Original

To ensure the quality and time delivery of the software developed for Party A’s C3000 products, Party A and Party B have established these Technology Specifications for Software
Development (these “Technology Specifications”) after adequate communications and consultations.
These Technology Specifications sets forth the specifications and requirements that shall be met by
Hanwang Software.

	1.	 	Project Overview (to be completed by Party A)
	 
	 	 	CECT C3000
	 
	 	 	Philips SYSOLME platform
	 
	2.	 	Environment Descriptions

	 	1)	 	Hardware environment
	 
	 	 	 	Main hardware features

	 	l	 	 CPU: 26M HZ
	 
	 	l	 	 RAM: 16M bit
	 
	 	l	 	 ROM: 64M bit
	 
	 	l	 	 Touch Panel:

	 	2)	 	Software environment
	 
	 	 	 	Software platform OS: philips OS

3. Requirement Summaries

	 	1)	 	Requirement list:

	 	u	 	 Compiler name, version and development platform:

ARM tcc.exe version ARM ADS1.2 Build 805
	 
	 	u	 	 Character set scope:

	 	n	 	 Simplified Chinese Standard Edition (6763 Simplified Chinese Characters+
5401 Traditional Chinese Characters+ 52 English Letters + 10 Numbers + 42
Punctuation Marks + 4 Gesture Symbols)
	 
	 	n	 	 Traditional Chinese Standard Edition (4096 Simplified Chinese Characters +
13060 Traditional Chinese Characters+ 52 English Letters+ 10 Numbers + 42
Punctuation Marks + 4 Gesture Symbols)

 

 

English Translation of Chinese Original

	 	n	 	 Simplified and Traditional Chinese Unified Edition (6763 Simplified Chinese
+ 13060 Traditional Chinese + 4096 Hong Kong symbols + 52 English Character +10
Number + 42 Punctuation symbols + 4 Gestures symbols)

Party A has chosen the Simplified Chinese Standard Edition (600K)

	 	u	 	 Code output type: Unicode
	 
	 	u	 	Endianness: Big Endian
	 
	 	u	 	Compiler Option:
	 
	 	 	 	Compiler Switches: tcc –bigend –fa –g –gtp –O2 –Wb –c –O2 –W+s –apcs/interwork
	 
	 	 	 	When Linking, please use armlink–partial -o xxx.ptl to generate a PLT format library
file.
	 
	 	u	 	 Identification Database (Identification Dictionary) support method: the
dictionary and the code are not separateExhibit 10.1

                              Willis Partners Plan
                              --------------------

                                OPTION AGREEMENT
                                ----------------

     THIS AGREEMENT, effective as of May 6, 2008 is made by and between Willis
Group Holdings Limited, hereinafter referred to as the "Company" and the
individual (the "Optionee") who has duly completed, executed and delivered the
Option Acceptance Form, a copy of which is set out in Schedule A attached hereto
and deemed to be a part hereof and, if applicable, the Agreement of Restrictive
Covenants and Other Obligations, a copy of which is set out in Schedule B
attached hereto and deemed to be a part hereof.

     WHEREAS, the Company wishes to carry out the Plan (as hereinafter defined),
the terms of which are hereby incorporated by reference and made a part of this
Agreement; and

     WHEREAS, the Board (as hereinafter defined) has determined that it would be
to the advantage and best interest of the Company and its shareholders to grant
the Option (as hereinafter defined) provided for herein to Optionee as an
incentive for increased efforts on the part of Optionee during Optionee's
employment with the Company or its subsidiaries, and has advised the Company
thereof and instructed the undersigned officer to grant said Option.

     NOW, THEREFORE, the parties hereto do hereby agree as follows:

                                   ARTICLE I

                                  DEFINITIONS
                                  -----------

     Whenever the following terms are used in this Agreement, they shall have
the meaning specified in the Plan or below unless the context clearly indicates
to the contrary.

Section 1.1 - Adjusted Earnings Per Share
-----------------------------------------

     "Adjusted Earnings Per Share" shall mean the adjusted earnings per share as
stated by the Company in its annual financial results as published by the New
York Stock Exchange.

Section 1.2 - Adjusted Operating Margin
---------------------------------------

     "Adjusted Operating Margin" shall mean the adjusted operating margin as
stated by the Company in its annual financial results as published by the New
York Stock Exchange.

Section 1.3 - Board
-------------------

     "Board" shall mean the Board of Directors of the Company.

Section 1.4 - Cause
-------------------

     "Cause" shall mean (i) Optionee's continued and/or chronic failure to
adequately and/or competently perform his or her material duties with respect to
the Company or its subsidiaries after having been provided reasonable notice of
<PAGE>

such failure and a period of at least ten days after Optionee's receipt of such
notice to cure and/or correct such performance failure, (ii) willful misconduct
by Optionee in connection with Optionee's employment which is injurious to the
Company or its subsidiaries (willful misconduct shall be understood to include,
but not be limited to, any breach of the duty of loyalty owed by Optionee to the
Company or its subsidiaries), (iii) conviction of any criminal act (other than
minor road traffic violations not involving imprisonment), (iv) any breach of
Optionee's restrictive covenants as provided in this Agreement (if applicable),
in Optionee's employment agreement (if any), or any other non-compete agreement
and/or confidentiality agreement entered into between Optionee and the Company
or any of its subsidiaries (other than an insubstantial, inadvertent and
non-recurring breach), or (v) any material violation of any written Company
policy after reasonable notice and an opportunity to cure such violation within
ten (10) days after Optionee's receipt of such notice.

Section 1.5 - Committee
-----------------------

     "Committee" means the Compensation Committee of the Board (or if no such
committee is appointed, the Board provided that a majority of the Board are
"independent directors" for the purpose of the rules and regulations of the New
York Stock Exchange).

Section 1.6 - Earned Date
-------------------------

     "Earned Date" shall mean the date that the annual financial results of the
Company are published by the New York Stock Exchange.

Section 1.7 - Earned Performance Shares
---------------------------------------

     "Earned Performance Shares" shall mean shares subject to the Option in
respect of which the applicable performance conditions, as set out in section
3.1, have been achieved and shall become exercisable as set out in section 3.2.

Section 1.8 - Good Reason
-------------------------

     "Good Reason" shall mean (i) a reduction in Optionee's base salary or a
material adverse reduction in Optionee's benefits other than (a) in the case of
base salary, a reduction that is offset by an increase in Optionee's bonus
opportunity upon the attainment of reasonable performance targets established by
the Board, (b) a general reduction in the compensation or benefits of, or a
shift in the general compensation or benefits schemes affecting, a broad group
of employees of the Company or any of its subsidiaries, or (c) in the case of
base salary, a reduction which is imposed in accordance with normal
administration and application of a producer compensation plan, if applicable to
Optionee, (ii) a material adverse reduction in Optionee's principal duties and
responsibilities, which continues beyond ten days after written notice by
Optionee to the Company or the applicable Subsidiary of such reduction or (iii)
a significant transfer of Optionee away from Optionee's primary service area or
primary workplace, other than as permitted by Optionee's existing service
contracts; provided, however, that Optionee shall have a period of ten days
following any of the foregoing occurrences or the last event in a series of
events which culminate in providing the basis for such notice during which such
Optionee may claim that a basis for a Good Reason termination by Optionee has
occurred.
<PAGE>

Section 1.9 - Grant Date
------------------------

     "Grant Date" shall be May 6, 2008.

Section 1.10 - Option
---------------------

     "Option" shall mean the option to purchase common shares of the Company
granted in accordance with this Agreement.

Section 1.11 - Option Exercise Price
------------------------------------

     "Option Exercise Price" shall mean the exercise price of the common shares
of the Company covered by the Option, as set forth in Section 2.2 of this
Agreement.

Section 1.12 - Permanent Disability
-----------------------------------

     Optionee shall be deemed to have a "Permanent Disability" if Optionee meets
the requirements of the definition of such term, or of an equivalent term, as
defined in the Company's or Subsidiary's long-term disability plan applicable to
Optionee or, if no such plan is applicable, in the event Optionee is unable by
reason of physical or mental illness or other similar disability, to perform the
material duties and responsibilities of his job for a period of 180 consecutive
business days out of 270 business days.

Section 1.13 - Plan
-------------------

     "Plan" shall mean the Willis Group Holdings Limited 2008 Share Purchase and
Option Plan, as amended from time to time.

Section 1.14 - Pronouns
-----------------------

     The masculine pronoun shall include the feminine and neuter, and the
singular the plural, where the context so indicates.

Section 1.15 - Secretary
------------------------

     "Secretary" shall mean the Secretary of the Company.

Section 1.16 - Shares or Common Shares
--------------------------------------

     "Shares" or "Common Shares" means common shares of the Company which may be
authorised but unissued.

Section 1.17 - Subsidiary
-------------------------

     "Subsidiary" shall mean a direct and/or indirect subsidiary of the Company
as well as any associate company which is designated by the Company as being
eligible for participation in the Plan.
<PAGE>

                                   ARTICLE II

                                GRANT OF OPTIONS
                                ----------------

Section 2.1 - Grant of Options
------------------------------

     On and as of the Grant Date the Company grants to Optionee an Option to
purchase any part or all of an aggregate number of Shares, as stated in Schedule
A to this Agreement, upon the terms and conditions set forth in this Agreement.
In circumstances where Optionee is required to enter into the Restrictive
Covenant agreement set forth in Schedule B, Optionee agrees that the grant of an
Option pursuant to this Agreement is sufficient consideration for Optionee
entering into such agreement.

     Optionee acknowledges and agrees that the Company may provide grants of an
Option and/or Shares pursuant to this Plan in lieu of any grants the Company is
obligated to make under any pre-existing plans, agreements or letters and that
such grants when made pursuant to this Plan shall fully discharge the Company's
obligations to make any such grant under any pre-existing plan, agreement or
letter.

Section 2.2 - Exercise Price
----------------------------

     Subject to Section 2.4, the exercise price of each Share subject to the
Option shall be as stated in Schedule A to this Agreement.

Section 2.3 - Employment Rights
-------------------------------

     Subject to the terms of the Agreement of Restrictive Covenants and Other
Obligations where applicable, the rights and obligations of Optionee under the
terms of his office or employment with the Company or any Subsidiary shall not
be affected by his participation in this Plan or any right which he may have to
participate in it and Optionee hereby waives any and all rights to compensation
or damages in consequence of the termination of his office or employment for any
reason whatsoever insofar as those rights arise or may arise from his ceasing to
have rights under or be entitled to exercise any Option as a result of such
termination.

Section 2.4 - Adjustments in Options Pursuant to Merger, Consolidation, etc.
----------------------------------------------------------------------------

     Subject to Section 10 of the Plan, in the event that the outstanding Shares
subject to an Option are, from time to time, changed into or exchanged for a
different number or kind of Shares or other securities, by reason of a
recapitalization, reclassification, stock split, stock dividend, spin-off, stock
combination, Change of Control (as defined in the Plan), merger or other similar
event, the Board shall make an appropriate and equitable adjustment in the
number and kind of Shares and/or the amount of consideration as to which or for
which, as the case may be, such Option, and/or portions thereof then
unexercised, shall be exercisable. Any such adjustment made by the Board shall
be final and binding upon Optionee, the Company and all other interested
persons.
<PAGE>

Section 2.5 - Employer Costs
----------------------------

     In the case of Optionees who are U.K. residents, the grant of this Option
shall be conditional upon the execution of a joint election with his employing
company to accept the liability for employer's National Insurance arising on
exercise, sale or release of the Option. In the case of Optionees resident in
any other country (excluding the USA), such Optionee agrees that if his
employing company incurs any social security or payroll costs or taxes on
exercise, sale or release of the Option he shall, if requested, reimburse the
employing company in respect thereof.

                                  ARTICLE III

                            PERIOD OF EXERCISABILITY
                            ------------------------

Section 3.1 - Commencement of Earning
-------------------------------------

3.1(a) Subject to 3.1(b), the Shares subject to Option shall become Earned
Performance Shares subject to the Participant being in the employment of the
Company or any Subsidiary at each respective date and provided the performance
conditions applicable are achieved.

     (b) The performance conditions are:

     (i) One-sixth of the Shares subject to the Option shall become Earned
Performance Shares with effect from the Earned Date in respect of the year
ending December 31, 2008 if in respect of 2008 the Company achieves an Adjusted
Earnings Per Share of not less than $2.85 and further one-sixth of the Shares
subject to the Option shall become Earned Performance Shares if in respect of
2008 the Company achieves an Adjusted Operating Margin of not less than 24%.
Shares that are eligible to become Earned Performance Shares by virtue of this
sub-section shall be referred to as "2008 Performance Shares";

     (ii)One-sixth of the Shares subject to the Option shall become Earned
Performance Shares with effect from the Earned Date in respect of the year
ending December 31, 2009 if in respect of 2009 the Company achieves an Adjusted
Earnings Per Share of not less than $3.30 and further one-sixth of the Shares
subject to the Option shall become Earned Performance Shares if in respect of
2009 the Company achieves an Adjusted Operating Margin of not less than 26%.
Shares that are eligible to become Earned Performance Shares by virtue of this
sub-section shall be known as "2009 Performance Shares";

     (iii) One-sixth of the Shares subject to the Option shall become Earned
Performance Shares with effect from the Earned Date in respect of the year ended
December 31, 2010 if in respect of 2010 the Company achieves an Adjusted
Earnings Per Share of not less than $4.00 and further one-sixth of the Shares
subject to the Option shall become Earned Performance Shares if in respect of
2010 the Company achieves an Adjusted Operating Margin of not less than 28%.
Shares that are eligible to become Earned Performance Shares by virtue of this
sub-section shall be referred to as "2010 Performance Shares";
<PAGE>

     (iv)The 2008 and 2009 Performance Shares that are subject to the
achievement of an Adjusted Earnings Per Share target and have not become Earned
Performance Shares in accordance with sub-sections (b)(i) and (b)(ii) above will
become Earned Performance Shares with effect from the Earned Date in respect of
the year ending December 31, 2010 if the Adjusted Earnings Per Share target for
2010 of not less than $4.00 is achieved.

     (v) The 2008 and 2009 Performance Shares that are subject to the
achievement of an Adjusted Operating Margin target and have not become Earned
Performance Shares in accordance with sub-sections (b)(i) and (b)(ii) above will
become Earned Performance Shares with effect from the Earned Date in respect of
the year ending December 31, 2010 if the Adjusted Operating Margin target for
2010 of not less than 28% is achieved.

     (c) All Shares subject to an Option that do not become Earned Performance
Shares in accordance with sub-sections 3.1 (b)(i) to (b)(v) shall be forfeited
as from the Earned Date in 2010.

Section 3.2 - Commencement of Vesting and Exercisability
--------------------------------------------------------

     (a) The Earned Performance Shares shall vest and become exercisable as
follows:

         -------------------------------------- --------------------------------
                                                Percentage of Earned Performance
                                                Shares
         -------------------------------------- --------------------------------

         Third anniversary of date of grant                         50%

                                                                    25%
         Fourth anniversary of date of grant
                                                                    25%
         Fifth anniversary of date of grant
         -------------------------------------- --------------------------------

     (b) In the event of a termination of Optionee's employment as a result of
Death or Permanent Disability, then (i) the Earned Performance Shares and the
Option in respect thereof shall become immediately exercisable with respect to
all Common Shares underlying such Option as set forth in Section 3.3 (b)(ii) and
(ii) any portion of the Option which then has not become an Earned Performance
Share shall immediately terminate and will at no time be exercisable.

     (c) In the event of a termination of Optionee's employment for any reason
other than Death or Permanent Disability, then (i) the Earned Performance Shares
that have vested and become exercisable and the Option in respect thereof shall
remain exercisable as set forth in Section 3.3 (b)(iii) or 3.3 (b)(iv) below and
(ii) the Option over Earned Performance Shares that have not yet vested shall
immediately terminate and will at no time become exercisable, except that the
Board may, for termination of employment for reasons other than Cause, determine
in its discretion that the Option over Earned Performance Shares that have not
yet vested and become exercisable, shall become exercisable.
<PAGE>

     (d) In the event of a termination of Optionee's employment for any reason
other than set out in (b) and (c) above and subject to section 3.3 all Options
will lapse with effect from that date of termination.

Section 3.3 - Expiration of Options
-----------------------------------

     (a)  The Option shall immediately lapse upon:

         (i) Termination of Optionee's employment, subject to, and except as
     otherwise specified within, the terms and conditions of Section 3.2 above;
     or

         (ii) Optionee's failure to execute the Agreement for Restrictive
     Covenants, if applicable, and Other Obligations pursuant to Article V below
     within 45 days of the Grant Date; or

         (iii) Optionee's failure to execute the form of joint election with his
     employing company as described in Section 2.5 above within 45 days of the
     Grant Date; or

         (iv) Optionee's failure to execute and deliver the Option Acceptance
     Form within 45 days of the Grant Date.

     (b)  The Option over Earned Performance Shares that have become vested and
          exercisable in accordance with Section 3.2 will cease to be
          exercisable by Optionee upon the first to occur of the following
          events:

         (i) The seventh anniversary of the Grant Date; or

         (ii) The first anniversary of the date of Optionee's termination of
     employment by reason of Death or Permanent Disability; or

         (iii) Ninety days after the date of any termination of Optionee's
     employment by the Company for Cause or by Optionee without Good Reason; or

         (iv) Ninety days after the date of termination of Optionee's employment
     other than as set forth in Section 3.2(b) or (c), above or where the Board
     has exercised its discretion in accordance with Section 3.2(c)(ii), the
     period shall be six calendar months after the date of termination;

         (v) If the Board so determines pursuant to Section 10 of the Plan, the
     effective date of a Change of Control, merger, amalgamation pursuant to
     Bermuda law, or other consolidation of the Company or group of companies
     collectively known as Willis Group, or other similar event, as provided in
     the Plan, so long as Optionee has a reasonable opportunity to exercise his
     Options prior to such effective date.
<PAGE>

                                   ARTICLE IV

                               EXERCISE OF OPTION
                               ------------------

Section 4.1 - Person Eligible to Exercise
-----------------------------------------

     During the lifetime of Optionee, only he may exercise an Option or any
portion thereof. After the death of Optionee, any exercisable portion of an
Option may, prior to the time when an Option becomes unexercisable under Section
3.3, be exercised by his personal representative or by any person empowered to
do so under Optionee's will or under then applicable laws of inheritance.

Section 4.2 - Partial Exercise
------------------------------

     Any exercisable portion of an Option or the entire Option, if then wholly
exercisable, may be exercised in whole or in part at any time prior to the time
when the Option or portion thereof becomes unexercisable under Section 3.3;
provided, however, that any partial exercise shall be for whole Shares only.

Section 4.3 - Manner of Exercise
--------------------------------

     An Option, or any exercisable portion thereof, may be exercised solely by
delivering to the Secretary or his office all of the following prior to the time
when the Option or such portion becomes unexercisable under Section 3.3:

     (a)  Notice in writing signed by Optionee or the other person then entitled
          to exercise the Option or portion thereof, stating that the Option or
          portion thereof is thereby exercised, such notice complying with all
          applicable rules established by the Board and made available to
          Optionee (or such other person then entitled to exercise the Option);

     (b)  Full payment (in cash, by cheque, electronic transfer, by way of a
          cashless exercise as approved by the Company, by way of surrender of
          Shares to the Company or by a combination thereof) for the Shares with
          respect to which such Option or portion thereof is exercised;

     (c)  Full payment to the Company or any Subsidiary ("Group Member") by
          which Optionee is employed, of all amounts which, under federal, state
          or local law, it is required to withhold upon exercise of the Option;
          and

     (d)  In a case where any Group Member is obliged to (or would suffer a
          disadvantage if it were not to) account for any tax (in any
          jurisdiction) for which Optionee is liable by virtue of the exercise
          of the Option and/or for any social security contributions recoverable
          from the person in question (together, the "Tax Liability"), Optionee
          has either:

         (i) made full payment to the Group Member of an amount equal to the Tax
     Liability, or
<PAGE>

         (ii) entered into arrangements acceptable to that or another Group
     Member to secure that such a payment is made (whether by authorizing the
     sale of some or all of the Shares on his behalf and the payment to the
     Group Member of the relevant amount out of the proceeds of sale);

     (e)  In the event the Option or any portion thereof shall be exercised
          pursuant to Section 4.1 by any person or persons other than Optionee,
          appropriate proof of the right of such person or persons to exercise
          the Option.

     Without limiting the generality of the foregoing, the Board may in the case
of U.S. resident employees of the Company or any Subsidiary require an opinion
of counsel reasonably acceptable to it to the effect that any subsequent
transfer of Shares acquired on exercise of an Option does not violate the Act,
and may issue stop-transfer orders in the U.S. covering such Shares.

Section 4.4 - Conditions to Issuance of Share Certificates
----------------------------------------------------------

     The Shares deliverable upon the exercise of an Option, or any portion
thereof, may be either previously authorized but unissued Shares or issued
Shares held by any other person. Such Shares shall be fully paid. The Company
shall not be required to issue or deliver any certificate or certificates for
Shares granted upon the exercise of an Option or portion thereof prior to
fulfillment of all of the following conditions:

     (a) The obtaining of approval or other clearance from any state or federal
governmental agency which the Board shall, in its absolute discretion, determine
to be necessary or advisable; and

     (b) The lapse of such reasonable period of time following the exercise of
the Option as the Board may from time to time establish for reasons of
administrative convenience.

Section 4.5 - Rights as Shareholder
-----------------------------------

     The holder of an Option shall not be, nor have any of the rights or
privileges of, a shareholder of the Company in respect of any Shares that may be
received upon the exercise of the Option or any portion thereof unless and until
certificates representing such shares shall have been issued by the Company to
such holder.

                                    ARTICLE V

            AGREEMENT OF RESTRICTIVE COVENANTS AND OTHER OBLIGATIONS
            --------------------------------------------------------

Section 5 - Restrictive Covenants and Other Obligations
-------------------------------------------------------

     In consideration of the grant of an Option, Optionee shall enter into the
Agreement of Restrictive Covenants and Other Obligations, a copy of which is
attached hereto as Schedule B. In the event Optionee does not sign and return
the Agreement of Restrictive Covenants and Other Obligations within 45 days of
the Grant Date the Options shall lapse pursuant to section 3.3(a)(ii). If no
such agreement is required, Schedule B shall state none or not applicable.
<PAGE>

                                   ARTICLE VI

                                  MISCELLANEOUS

Section 6.1 - Administration
----------------------------

     The Board shall have the power to interpret the Plan and this Agreement and
to adopt such rules for the administration, interpretation and application of
the Plan as are consistent therewith and to interpret or revoke any such rules.
All actions taken and all interpretations and determinations made by the Board
shall be final and binding upon Optionee, the Company and all other interested
persons. No member of the Board shall be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or
the Options. In its absolute discretion, the Board may at any time and from time
to time exercise any and all rights and duties of the Board under the Plan and
this Agreement.

Section 6.2 - Options Not Transferable
--------------------------------------

     Neither the Options nor any interest or right therein or part thereof shall
be subject to the debts, contracts or engagements of Optionee or his successors
in interest or shall be subject to disposition by transfer, alienation,
anticipation, pledge, encumbrance, assignment or any other means whether such
disposition be voluntary or involuntary or by operation of law by judgment,
levy, attachment, garnishment or any other legal or equitable proceedings
(including bankruptcy), and any attempted disposition thereof shall be null and
void and of no effect; provided, however, that this Section 6.2 shall not
prevent transfers made solely for estate planning purposes or under a will or by
the applicable laws of inheritance.

Section 6.3 - Binding Effect
----------------------------

     The provisions of this Agreement shall be binding upon and accrue to the
benefit of the parties hereto and their respective heirs, legal representatives,
successors and assigns.

Section 6.4 - Notices
---------------------

     Any notice to be given under the terms of this Agreement to the Company
shall be addressed to the Company at the following address:

         Willis Group Holdings Limited
         c/o Willis Group Limited
         51 Lime Street
         London England EC3M 7DQ
         Attention: Company Secretary

and any notice to be given to Optionee shall be at the address set forth in the
Option Acceptance Form.
<PAGE>

     By a notice given pursuant to this Section 6.4, either party may hereafter
designate a different address for notices to be given to him. Any notice that is
required to be given to Optionee shall, if Optionee is then deceased, be given
to Optionee's personal representatives if such representatives have previously
informed the Company of their status and address by written notice under this
Section 6.4. Any notice shall have been deemed duly given when enclosed in a
properly sealed envelope or wrapper addressed as aforesaid, deposited (with
postage prepaid) in a post office or branch post office regularly maintained by
the United States Postal Service or the United Kingdom's Post Office or in the
case of a notice given by an Optionee resident outside the United States of
America or the United Kingdom, with a recognized international courier service.

Section 6.5 - Titles
--------------------

     Titles are provided herein for convenience only and are not to serve as a
basis for interpretation or construction of this Agreement.

Section 6.6 - Applicability of Plan
-----------------------------------

     The Options shall be subject to all of the terms and provisions of the
Plan, to the extent applicable to the Options. In the event of any conflict
between this Agreement and the Plan, the terms of the Plan shall control.

Section 6.7 - Amendment
-----------------------

     This Agreement may be amended only by a document executed by the parties
hereto, which specifically states that it is amending this Agreement.

Section 6.8 - Governing Law
---------------------------

     This Agreement  shall be governed by, and construed in accordance  with the
laws of Bermuda; provided,  however, that the Agreement of Restrictive Covenants
and Other  Obligations,  if  applicable,  shall be governed by and  construed in
accordance with the laws specified in that agreement.

Section 6.9 - Jurisdiction
--------------------------

The courts of Bermuda  shall have  jurisdiction  to hear and determine any suit,
action or  proceeding  and to settle any  disputes  which may arise out of or in
connection  with this  Agreement  and,  for such  purposes,  the parties  hereto
irrevocably submit to the jurisdiction of such courts; provided,  however, where
applicable,  that with respect to the  Agreement of  Restrictive  Covenants  and
Other Obligations the courts specified in such agreement shall have jurisdiction
to hear and determine any suit,  action or proceeding and to settle any disputes
which may arise out of or in connection with that agreement.
<PAGE>

Section 6.10 - Counterparts
---------------------------

     This Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original and all of which together shall constitute one
and the same instrument.

     IN WITNESS  WHEREOF  the  Company  and  Optionee  have each  executed  this
Agreement.

                                        WILLIS GROUP HOLDINGS LIMITED

                                        By: /s/ Michael P Chitty
                                            --------------------
                                        Name:   Michael P Chitty
                                        Title:  Company Secretary

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