Document:

Common Stock Purchase Agreement

 Exhibit 10.1 
 COMMON STOCK PURCHASE AGREEMENT 
 This Common Stock Purchase Agreement
(this “Agreement”) is made as of May 6, 2011, by and between Green Mountain Coffee Roasters, Inc., a Delaware corporation (the “Company”), and Luigi Lavazza S.p.A., an Italian corporation
(“Lavazza”). 
 WITNESSETH 
 WHEREAS, Lavazza previously acquired from the Company 8,566,649 shares of common stock of the Company, par value $0.10 per share (“Common Stock”), pursuant to the terms and
conditions of a Common Stock Purchase Agreement dated as of August 10, 2010 (the “2010 Agreement”). 

WHEREAS, pursuant to Section 10.3 of the 2010 Agreement, the Company agreed not sell or issue any additional Common Stock for
a period of five years and six months without first offering Lazazza the opportunity to purchase its Allotment of such newly issued Common Stock. 
 WHEREAS, the Company notified Lavazza of its intent to sell up to $500 million of shares of Common Stock through an underwritten public offering (the “Offering”) and Lavazza has
agreed to acquire its Allotment of such newly issued stock in a private placement on the same terms and conditions on which the Company sells Common Stock in the Offering. 
 WHEREAS, the underwriters (the “Underwriters”) conducting the Offering have entered into an underwriting agreement (the “Underwriting Agreement”) with the Company
and the selling stockholders party thereto dated as of the date of this Agreement (a copy of which has been provided to Lavazza) pursuant to which the Company has agreed to sell up to 9,479,544 shares of Common Stock to the Underwriters, consisting
of a primary offering of 8,189,544 shares of Common Stock (the “Primary Offering”) and an overallotment option permitting the Underwriters to acquire an additional 1,290,000 shares of Common Stock in one or more closings pursuant to
the terms of the Underwriting Agreement (the “Overallotment Option”). 
 WHEREAS, Lavazza has agreed to
acquire its Allotment of the newly issued Common Stock to maintain its current percentage ownership of the Company’s outstanding Common Stock as of immediately prior to any closings in respect of the Offering in private placements. 

NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable
consideration the receipt and adequacy of which are hereby acknowledged, the Company and Lavazza agree as follows: 
 Section 1.
Definitions. 
 In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the
following terms have the meanings indicated or referenced in this Section 1: 
 “2010 Agreement”
shall have the meaning set forth in the Recitals hereto. 
 “Agreement” shall have the meaning set forth in the
Preamble hereto. 

 “Allotment” shall mean the amount of newly issued Common Stock that will
enable Lavazza to maintain its current percentage ownership of the Company’s outstanding Common Stock as of immediately prior to the Offering in accordance with Section 10.3 of the 2010 Agreement. 

“Business Day” shall mean any day other than a Saturday or a Sunday or a day on which banking institutions in The City
of New York or in Italy are authorized or obligated by law or executive order to close. 
 “Common Stock” shall
have the meaning set forth in the Recitals hereto. 
 “Company” shall have the meaning set forth in the
Preamble hereto. 
 “Closing” shall mean the Primary Closing or an Overallotment Closing, as applicable.

 “Closing Date” shall mean, with respect to the Primary Closing or an Overallotment Closing, the date on
which such Closing takes place. 
 “Company Reports” shall have the meaning set forth in
Section 4.6 hereof. 
 “Confidentiality Agreement” shall have the meaning set forth in
Section 7 of this Agreement. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended. 
 “GAAP” shall mean generally accepted accounting principles in the United States. 

“Governmental Body” shall mean any: (a) nation, state, commonwealth, province, territory, county, municipality,
district or other governmental jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government; (c) governmental or quasi-governmental authority of any nature (including any governmental division, department,
agency, commission, instrumentality, official, ministry, fund, foundation, center, organization, unit, body or entity and any court or other tribunal); or (d) self-regulatory organization (including the Nasdaq and the Financial Industry
Regulatory Authority). 
 “Indemnified Liabilities” shall have the meaning set forth in Section 8
of this Agreement. 
 “Indemnitees” shall have the meaning set forth in Section 8 of this
Agreement. 
 “Intellectual Property” shall mean any and all intellectual property rights arising from or
associated with any of the following, whether protected, created or arising under the laws of the United States or any other jurisdiction: (i) patents and patent applications; (ii) registered and unregistered trademarks and service marks,
pending trademark and service mark registration applications, and all goodwill associated therewith and symbolized thereby; (iii) registered and material unregistered copyrights and applications for registration thereof; (iv) registered
internet domain names; (v) trade secrets, technical data, know-how, show-how, formulae, methods, 

  
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designs, processes and procedures; and (vi) all software, software implementations of algorithms, computer programs and related materials. 

“Lavazza” shall have the meaning set forth in the Preamble hereto. 

“Material Adverse Effect” shall mean any effect, change, claim, event or circumstance that, considered together with all
other effects, changes, claims, events and circumstances, has had or would reasonably be expected to have or result in a material adverse effect on (1) the assets, business, financial condition, liabilities or results of operations of the
Company and its Subsidiaries, taken as a whole, but shall not include: (i) effects, changes, claims, events or circumstances resulting from (A) changes since the date of this Agreement in general economic or political conditions or the
securities, credit or financial markets worldwide, (B) changes since the date of this Agreement in conditions generally affecting the industry in which the Company operates, (C) changes since the date of this Agreement in generally
accepted accounting principles or the interpretation thereof, (D) changes since the date of this Agreement in law, (E) any acts of terrorism or war since the date of this Agreement, in each case, unless disproportionately adverse to the
Company and its Subsidiaries, taken as a whole; (ii) any adverse impact on the Company’s relationships with employees, customers and suppliers of the Company that is directly attributable to the announcement or pendency of this Agreement
and the transactions contemplated by this Agreement, or any other adverse impact on the Company that is directly (and to the extent) attributable to the announcement and pendency of the transactions contemplated in this Agreement; (iii) any
failure after the date of this Agreement to meet internal or analyst projections or forecasts for any period, in and of itself, but not excluding the underlying facts relating to any such failure to the extent that any such facts would constitute a
Material Adverse Effect; or (iv) the taking of any action required to be taken by the Company pursuant to the Agreement or specifically instructed by Lavazza, or (2) the ability of the Company to consummate the transactions contemplated by
this Agreement or the validity or enforceability of this Agreement or the rights or remedies of Lavazza hereunder. 

“Nasdaq” shall mean, as the case may be, The Nasdaq Global Market or Nasdaq Stock Market LLC. 

“New Shares” shall the shares of Common Stock acquired by Lavazza pursuant to this Agreement in the Primary Closing and
any Overallotment Closing. 
 “Offering” shall have the meaning set forth in the Recitals hereto. 

“Overallotment Closing” shall have the meaning set forth in Section 3.2 hereof. 

“Overallotment Option” shall have the meaning set forth in the Recitals hereto. 

“Overallotment Shares” shall mean, with respect to any Overallotment Closing, the number of shares purchased pursuant to
this Agreement the number of which shall be equal to that amount necessary to enable to Lavazza to maintain its then-current percentage of ownership of the Company’s outstanding Common Stock as of immediately prior to such Overallotment
Closing. 

  
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 “Per Share Price” shall have the meaning set forth in Section 2
of this Agreement. 
 “Person” shall mean an individual or corporation, partnership, trust, incorporated or
unincorporated association, joint venture, limited liability company, joint stock company, Governmental Body or other entity of any kind. 
 “Primary Closing” shall have the meaning set forth in Section 3.1 hereof. 
 “Primary Offering” shall have the meaning set forth in the Recitals hereto. 
 “Primary Shares” shall mean the five hundred twenty-five thousand, six hundred thirty-eight (525,638) shares of the Common Stock to be acquired at the Primary Closing. 

“Purchase Price” shall mean the aggregate amount payable by Lavazza to purchase the New Shares pursuant to this
Agreement. 
 “Registration Rights Agreement” shall mean the Registration Rights Agreement entered into by the
Company and Lavazza on and as of September 28, 2010. 
 “Required Investment Amount” shall have the
meaning set forth in the 2010 Agreement. 
 “SEC” shall mean the United States Securities and Exchange
Commission. 
 “SEC Reports” shall have the meaning set forth in Section 4 hereof. 

“Securities Act” shall mean the Securities Act of 1933, as amended. 

“Significant Subsidiary” of a Person shall mean such Person’s “significant subsidiary,” as defined in
Rule 1-02(w) of the SEC’s Regulation S-X. 
 “Subsidiary” shall mean, with respect to any Person, any
other Person (A) of which such Person or a subsidiary of such Person is a general partner or (B) of which a majority of the voting securities or other voting interests, or a majority of the securities or other interests of which having by
their terms ordinary voting power to elect a majority of the board of directors or Persons performing similar functions with respect to such entity, is directly or indirectly owned by such Person and/or one or more subsidiaries thereof. 

“Underwriters” shall have the meaning set forth in the Recitals hereto. 

“Underwriting Agreement” shall have the meaning set forth in the Recitals hereto. 

  
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 Section 2. Sale and Purchase of Stock. Subject to the terms and conditions of this
Agreement, Lavazza agrees to purchase (or cause one of its Subsidiaries to purchase), and the Company agrees to sell and issue to Lavazza (or such Subsidiary of Lavazza), (i) at the Primary Closing, the Primary Shares for an aggregate purchase
price of thirty-five million, nine hundred twenty thousand, seven hundred eighty-six U.S. dollars and eighty-three cents (U.S.$35,920,786.83) at a price per share (the “Per Share Price”) equal to U.S.$68.3375, and (ii) at any
Overallotment Closing, the Overallotment Shares issuable upon such Overallotment Closing at the Per Share Price. 
 Section 3.
Closings. 
 3.1. Primary Closing. The purchase, sale and issuance of the Primary Shares shall take place at a
closing (the “Primary Closing”) to be held at the offices of Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston MA, 02199 at 10:00 a.m., Boston time, on the date on which Company issues and sells shares to the
Underwriters in the Primary Offering, or at such other place, time and/or date as may be jointly designated by the Company and Lavazza. 
 3.2. Overallotment Closings. If, at any time, the Underwriters determine to exercise their Overallotment Option (which may be exercised in whole or in part), then the purchase, sale and issuance of
the applicable Overallotment Shares shall take place at a closing (each, an “Overallotment Closing”) to be held at the offices of Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston MA, 02199 at 10:00 a.m.,
Boston time, on the closing date specified by the Underwriters with respect to such exercise of the Overallotment Option pursuant to the Underwriting Agreement, or at such other place, time and/or date as may be jointly designated by the Company and
Lavazza. 
 3.3. Deliveries. The purchase price for the New Shares purchased at a Closing shall be paid by Lavazza (or
such Subsidiary of Lavazza) to the Company at such Closing by wire transfer of immediately available funds to an account or accounts to be designated by the Company. At such Closing, the Company will deliver to Lavazza (or such Subsidiary of
Lavazza) a certificate registered in Lavazza’s name representing the New Shares purchased at such Closing. 
 Section 4.
Representations and Warranties of the Company. 
 Except as set forth in (i) the annual report on Form 10-K filed by
the Company with the SEC with respect to the fiscal year ended September 25, 2010, (ii) any Current Reports on Form 8-K filed by the Company with the SEC since September 25, 2010, (iii) the quarterly reports on
Form 10-Q filed by the Company with the SEC since the filing date of the Form 10-K referred to above, including reports with respect to the thirteen-week periods ended December 25, 2010 and March 26, 2011, (iv) all other
statements, reports, schedules, forms and other documents filed by the Company with the SEC since the fiscal year ended September 25, 2010, and all amendments thereto and (v) the registration statement on Form S-3 filed with the SEC on
August 3, 2009 (Registration No. 333-160974) and the preliminary prospectus supplement used 

  
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in the Offering filed on May 3, 2011 (collectively the “SEC Reports”) (it being understood that any matter disclosed in any SEC Report shall be deemed to be disclosed for a
representation herein only to the extent that it is reasonably apparent from such disclosure in such SEC Report that such disclosure is applicable to such representation, other than any matters required to be disclosed for purposes of
Section 4.3 (Capitalization) of this Agreement which matters shall be specifically disclosed in Section 4.3 or in a specific disclosure schedule to such Section), the Company makes the following representations and warranties
to Lavazza: 
 4.1. Organization and Qualification. The Company is a corporation duly organized, validly existing and in
good standing under the laws of the State of Delaware. Each Significant Subsidiary of the Company is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization. Each of the Company and each Significant
Subsidiary of the Company has all necessary corporate power and authority: (i) to conduct its business in the manner in which its business is currently being conducted; (ii) to own and use its assets in the manner in which its assets are
currently owned and used; and (iii) to perform its obligations under all material contracts to which it is a party. Each of the Company and each Significant Subsidiary of the Company is duly qualified to conduct business and is in good standing
as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may
be, would not reasonably be expected to result in a Material Adverse Effect. 
 4.2. Authorization; Enforcement. The
Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and the Underwriting Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution
and delivery of this Agreement and the Underwriting Agreement by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company. This Agreement
has been duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms except (i) as limited by
general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability
of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law. 
 4.3. Capitalization. As of May 2, 2011, the authorized capital stock of the Company consists of (i) 200,000,000 shares of Common Stock, of which 142,036,801 shares were issued and
outstanding and (ii) 1,000,000 shares of Preferred Stock, $0.10 par value, of which no shares were issued and outstanding. All such outstanding shares have been, or upon issuance will be, validly issued, fully paid and nonassessable. Except as
set forth on Schedule 4.3, as of the date hereof, (i) no shares of the Company’s capital stock are subject to preemptive rights (other than the rights contemplated by the 2010 Agreement and this Agreement), (ii) there are no
outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the Company, or contracts, commitments,
understandings or arrangements by which the 

  
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Company is or may become bound to issue additional shares of capital stock of the Company or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities or rights convertible into, any shares of Common Stock of the Company, (iii) there are no agreements or arrangements under which the Company is obligated to register the sale of any of its securities under the
Securities Act (except the Registration Rights Agreement), (iv) there are no outstanding securities or instruments of the Company which contain any redemption or similar provisions, and there are no contracts, commitments, understandings or
arrangements by which the Company is or may become bound to redeem a security of the Company, (v) there are no securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the New Shares as
described in this Agreement and (vi) the Company does not have any stock appreciation rights or “phantom stock” plans or agreements or any similar plan or agreement. Upon issuance and payment therefor in accordance with the terms and
conditions of this Agreement, the New Shares shall be validly issued, fully paid and nonassessable and free from all taxes, liens and charges. 
 4.4. No Conflicts. The execution, delivery and performance of this Agreement and the Underwriting Agreement by the Company and the consummation by the Company of the transactions contemplated
hereby and thereby do not and will not (i) conflict with or violate any provision of the Company’s certificate or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute a
default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of any material agreement, indenture or instrument to which the
Company or any of its Significant Subsidiaries is a party or (iii) conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or Governmental Body to which the
Company or any of its Significant Subsidiaries is subject, or by which any property or asset of the Company or any of its Significant Subsidiaries is bound or affected. 
 4.5. Brokers’ Fees. The Company has no liability or obligation to pay any fees or commissions to any broker, finder, or agent with respect to the transactions contemplated by this Agreement.

 4.6. SEC Reports; Internal Controls and Procedures; Financial Statements. 

(a) The Company has filed with the SEC all statements, reports, schedules, forms and other documents required to be filed by the Company
with the SEC since September 25, 2010 on a timely basis (the foregoing, including the SEC Reports, collectively, the “Company Reports”). As of the time it was filed with the SEC (or, if amended or superseded by a filing prior
to the date of this Agreement, then on the date of such filing) each of the Company Reports (i) was accurate and complete; (ii) complied as to form with the applicable requirements of the Securities Act or the Exchange Act (as the case may
be) and the applicable rules and regulations of the SEC thereunder; and (iii) did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading. 

  
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 (b) Except as disclosed in the SEC Reports, the Company’s “disclosure controls and
procedures” (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) are reasonably designed to ensure that all material information required to be disclosed by the Company in the reports that it files or furnishes under
the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC. 
 (c) Except as disclosed in the SEC Reports, the Company maintains a system of “internal controls over financial reporting” (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange
Act) sufficient to provide reasonable assurance that: (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial
statements in conformity with GAAP; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at
reasonable intervals and appropriate action is taken with respect to any differences. The Company’s management has completed an assessment of the effectiveness of the Company’s system of internal controls over financial reporting in
compliance with the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 for the fiscal year ended September 25, 2010. Except as disclosed in the SEC Reports, since September 25, 2010 through the date hereof, neither the
Company nor the Company’s independent registered accountant has identified or been made aware of: (A) any significant deficiency or material weakness in the design or operation of internal control over financial reporting utilized by the
Company; (B) any illegal act or fraud, that involves the Company’s management or other employees; or (C) any claim or allegation regarding any of the foregoing that would have a Material Adverse Effect. 

(d) The consolidated financial statements (including any related notes) contained or incorporated by reference in the SEC Reports (as
amended prior to the date of this Agreement): (i) complied as to form in all material respects with the published rules and regulations of the SEC applicable thereto; (ii) were prepared in accordance with GAAP applied on a consistent basis
throughout the periods covered (except as may be indicated in the notes to such financial statements or, in the case of unaudited financial statements, as permitted by Form 10-Q, Form 8-K or any successor form under the Exchange Act, and
except that the unaudited financial statements may not contain footnotes and are subject to normal and recurring year-end adjustments that will not, individually or in the aggregate, be material in amount), and (iii) fairly presented, in all
material respects, the consolidated financial position of the Company and its consolidated subsidiaries as of the respective dates thereof and the consolidated results of operations and cash flows of the Company and its consolidated subsidiaries for
the periods covered thereby. No financial statements of any Person other than the Company are required by GAAP to be included in the consolidated financial statements of the Company. With respect to the financial statements (including any related
notes) contained or incorporated by reference in the SEC Reports and except as disclosed in the SEC Reports, there have been no deficiencies or weaknesses identified in writing by the Company or the Company’s independent auditors (whether
current or former) in the design or operation of internal controls of financial reporting utilized by the Company and its consolidated subsidiaries that would have a Material Adverse Effect. 

  
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 (e) None of the Company or any of its Significant Subsidiaries has any liabilities or
obligations of any nature (whether accrued, absolute, contingent or otherwise), except for liabilities or obligations (i) that were incurred after September 25, 2010 in the ordinary course of business consistent with past practice,
(ii) that were set forth on the Company financial statements for the year ended September 25, 2010 or in the SEC Reports, (iii) that were incurred in connection with this Agreement and the Underwriting Agreement and the transactions
contemplated hereby and thereby, or (iv) that would not reasonably be expected to result in a Material Adverse Effect. 

4.7. Compliance with Laws; Permits. (a) Each of the businesses of the Company or any of its Significant Subsidiaries is, and
since September 25, 2010 has been, conducted in compliance in all material respects with all laws applicable to the Company or such Significant Subsidiary or by which any property, asset or right of the Company or such Significant Subsidiary is
bound, (b) the Company is in compliance in all material respects with the applicable listing, corporate governance and other rules and regulations of Nasdaq, (c) each of the Company and each of its Significant Subsidiaries, and any Person
acting on their behalf, holds all material permits necessary for the lawful conduct of its business and the ownership, use, occupancy and operation of its assets and properties, including its provision of professional services, (d) the Company
and each of its Significant Subsidiaries is in compliance in all material respects with the terms of such material permits and such material permits are in full force and effect, and (e) neither the Company nor any of its Significant
Subsidiaries has received any written communication since September 25, 2010 from any Governmental Body that remains unresolved and that alleges that the Company or any of its Significant Subsidiaries is not in compliance in any material
respect with, or is subject to any material liability under, any material permit or law or relating to the revocation or modification of any material permit. Neither the Company nor any of its Significant Subsidiaries has received any written notice
that any investigation or review by any Governmental Body that, if adversely decided, would have a Material Adverse Effect is pending as of the date of this Agreement with respect to the Company or any of its Significant Subsidiaries or any of the
properties, assets or operations of the Company or any of its Significant Subsidiaries or that any such investigation or review is contemplated. 
 4.8. Absence of Certain Changes or Events. Since September 25, 2010, (i) the Company and its Significant Subsidiaries have conducted their respective businesses in all material respects
in the ordinary course, consistent with past practice, and (ii) no event or events have occurred that had or would reasonably be expected to have a Material Adverse Effect. 

4.9. Litigation. There is no action, suit or proceeding pending or, to the knowledge of the Company, threatened against or
affecting the Company, any Significant Subsidiary of the Company or any of their respective properties before or by any court, arbitrator, governmental or administrative agency or regulatory authority which (i) adversely affects or challenges
the legality, validity or enforceability of this Agreement or the New Shares or (ii) would reasonably be expected to result in a Material Adverse Effect. 
 4.10. Intellectual Property. 

  
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 (a) The Company and its Significant Subsidiaries either own all right, title and interest
in, free and clear of any liens, or have sufficient right to use pursuant to license, sublicense, agreement or permission, all Intellectual Property used or necessary to conduct the business of the Company and its Significant Subsidiaries as it is
currently conducted or anticipated to be conducted, which right shall not be terminated, amended accelerated or cancelled by the consummation of the transactions contemplated by this Agreement. To the Company’s knowledge, no registration or
application of the Intellectual Property owned by the Company or any of its Significant Subsidiaries is invalid or unenforceable. 
 (b) The Company has taken commercially reasonable steps to maintain and protect its Intellectual Property rights and to obtain proper ownership of Intellectual Property developed for the Company or its
Significant Subsidiaries by its employees and contractors. 
 (c) To the knowledge of the Company, neither the Company nor any
of its Significant Subsidiaries is infringing or misappropriating in any material respect any Intellectual Property right of any third party. Without limiting the foregoing, neither the Company nor any of its Significant Subsidiaries has received
written notice alleging any such material infringement or misappropriation. No third party is, to the knowledge of the Company, infringing or misappropriating in any material respect any Intellectual Property rights owned by the Company or any of
its Significant Subsidiaries. Without limiting the foregoing, the Company has not provided written notice to any third party alleging any such material infringement or misappropriation. 

Section 5. Representations and Warranties of Lavazza. 
 Lavazza hereby represents and warrants to the Company as follows: 
 5.1.
Authorization; Enforcement. Lavazza has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution and
delivery of this Agreement by Lavazza and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary action on the part of Lavazza. This Agreement has been duly executed by Lavazza and, when delivered
in accordance with the terms hereof, will constitute the valid and binding obligation of Lavazza enforceable against Lavazza in accordance with its terms except (i) as limited by general equitable principles and applicable bankruptcy,
insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other
equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law. 

5.2. No Registration. Lavazza understands that the New Shares are being offered and sold to it in reliance on specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and Lavazza’s compliance with, the representations, warranties, agreements,
acknowledgments and understandings of Lavazza set forth herein in order to 

  
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determine the availability of such exemptions and the eligibility of Lavazza to acquire the New Shares. 
 5.3. Investment Intent. Lavazza is acquiring the New Shares for investment for its own account, not as a nominee or agent, and not with the view to, or for resale in connection with, any
distribution thereof, and Lavazza has no present intention of selling, granting any participation in, or otherwise distributing the same. Lavazza further represents that it does not have any contract, undertaking, agreement or arrangement with any
Person to sell, transfer or grant participation to such Person or to any third Person with respect to any of the New Shares. 

5.4. Investment Experience. Lavazza has sufficient experience in evaluating and investing in private placement transactions of
securities in companies similar to the Company and acknowledges that Lavazza can protect its own interests. Lavazza has such knowledge and experience in financial and business matters so that Lavazza is capable of evaluating the merits and risks of
its investment in the Company. 
 5.5. Speculative Nature of Investment. Lavazza can bear the economic risk of its
investment and is able, without impairing its financial condition, to hold the Shares for an indefinite period of time and to suffer a complete loss of its investment. Lavazza acknowledges that the New Shares may not be resold unless subsequently
registered under the Securities Act or an exemption from such registration is available. 
 5.6. Access to Data. Lavazza
has had an opportunity to review the SEC Reports and to ask questions of, and receive answers from, the officers of the Company concerning the Company’s business, management and financial affairs, which questions were answered to its
satisfaction. Lavazza believes that it has received all the information it considers necessary or appropriate for deciding whether to purchase the New Shares. Lavazza acknowledges that it is relying solely on its own counsel for legal advice with
respect to this investment or the transactions contemplated by this Agreement. 
 5.7. Accredited Investor. Lavazza is an
“accredited investor” within the meaning of Regulation D, Rule 501(a), promulgated by the SEC under the Securities Act. 
 5.8. No Governmental Review. Lavazza understands that no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement
of the New Shares or the fairness or suitability of the investment in the New Shares nor have such authorities passed upon or endorsed the merits of the offering of the New Shares. 

5.9. Brokers’ Fees. Lavazza has no liability or obligation to pay any fees or commissions to any broker, finder, or agent
with respect to the transactions contemplated by this Agreement. 
 5.10. Tax Advisors. Lavazza has reviewed with its own
tax advisors the U.S. federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. With respect to such matters, Lavazza relies solely on such

  
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advisors and not on any statements or representations of the Company or any of its agents, written or oral. Lavazza understands that it (and not the Company) shall be responsible for its own tax
liability that may arise as a result of this investment or the transactions contemplated by this Agreement. 
 5.11. Short
Selling. At no time prior to the date of this Agreement has any of Lavazza or any of its Subsidiaries engaged in or effected, in any manner whatsoever, directly or indirectly, any (i) “short sale” (as such term is defined in
Section 242.200 of Regulation SHO of the Exchange Act) of the Common Stock or (ii) hedging transaction, which establishes a net short position with respect to the Common Stock. 

5.12. Legend. Lavazza understands and agrees that the certificates evidencing the New Shares or any other securities issued in
respect of the New Shares upon any stock split, stock dividend, recapitalization, merger, consolidation or similar event, shall bear the following legends (in addition to any legend required under applicable state securities laws): 

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE,
AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SUCH ACT AND/OR APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND/OR LAWS. 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE DURING A LOCK-UP PERIOD ENDING SEPTEMBER 28, 2011,
UNLESS SOONER TERMINATED IN ACCORDANCE WITH THE PROVISIONS THEREOF. 
 5.13. Consents. Lavazza is not and will not be
required to make any filing with, give any notice to, or to obtain any consent from, any Person in connection with (x) the execution, delivery or performance of this Agreement, or (y) the consummation of the transactions contemplated in
this Agreement except filings under the Exchange Act. 
 5.14. Sufficient Funds. As of the date hereof, Lavazza has
sufficient funds presently available, and at each Closing will have sufficient funds available, to deliver the purchase price payable in respect of the New Shares purchased at such Closing in full and to consummate the transactions contemplated by
this Agreement in accordance with the terms hereof. 
 Section 6. Certain Covenants of the Parties. 

Lavazza and the Company agree as follows with respect to the period from the date of execution of this Agreement to the last Closing
under this Agreement: 
 6.1. General. The Company and Lavazza will use commercially reasonable best efforts to take all
action and to do all things necessary, proper, and advisable in order to consummate and make effective the transactions contemplated by this Agreement. 

  
 12 

 6.2. Overallotment Closings. If at any time prior to the expiration of the
Underwriters’ Overallotment Option, the Company receives notice from the Underwriters of their election to exercise all or a portion of the Overallotment Option, then the Company will promptly (and in any event within 24 hours) provide Lavazza
with written notice of such exercise setting forth (i) the number of shares of Common Stock to be acquired by the Underwriters pursuant to their Overallotment Option, (ii) the number of Overallotment Shares to be acquired by Lavazza in
respect of such issuance, and (iii) the closing date specified by the Underwriters with respect to such exercise of the Overallotment Option pursuant to the Underwriting Agreement. 

6.3. Public Announcements. The Company and Lavazza shall consult with one another before issuing any press release or any public
statement with respect to the transactions contemplated by this Agreement and matters related hereto. Except as otherwise required or permitted by this Agreement, neither the Company nor Lavazza shall, nor permit any of their respective Subsidiaries
or representatives to, make any public disclosure regarding the transactions contemplated by this Agreement unless (a) the other party to this Agreement shall have approved such disclosure (which approval shall not be unreasonably withheld,
conditioned or delayed) or (b) such disclosure is required by applicable law. Notwithstanding the foregoing, Lavazza and the Company each acknowledge that disclosure of the transactions contemplated by this Agreement have been and will be made
in the Company Reports filed in connection with the Offering. 
 Section 7. Confidentiality. 

Lavazza agrees that all information provided by or on behalf of the Company to Lavazza and any of its affiliates or representatives in
connection with this Agreement and the transactions contemplated herein shall be governed by the Mutual Confidentiality Agreement dated March 9, 2010 by and between Lavazza and the Company (the “Confidentiality Agreement”), as
modified and extended in accordance with the 2010 Agreement. 
 Section 8. Indemnification. 

The Company shall defend, protect, indemnify and hold harmless Lavazza and its officers, directors, employees and agents (the
“Indemnitees”) to the fullest extent lawful from and against any and all actions, causes of action, suits, claims, losses (including losses from the diminution of value of any New Shares), costs, penalties, fees, liabilities and
damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’ fees and disbursements (the
“Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement or any other
certificate, instrument or document contemplated hereby, or (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement or any other certificate, instrument or document contemplated hereby. Notwithstanding
anything in this 0, the Company will have no duty to indemnify the Indemnitees for Indemnified Liabilities in the aggregate in excess of the Purchase Price paid by Lavazza for the New Shares. 

  
 13 

 Section 9. Certain Agreements of the Parties. 

9.1. Status of Shares. The parties acknowledge and agree that the New Shares purchased pursuant to this Agreement shall be deemed
and constitute for all purposes “Additional Shares” as defined in the 2010 Agreement and shall be subject to the obligations and restrictions applicable to Additional Shares under and in accordance with the 2010 Agreement and shall be
entitled to the rights and benefits afforded to Additional Shares under and in accordance with the 2010 Agreement and the Registration Rights Agreement. This Agreement and the transactions contemplated hereby shall be deemed to satisfy the
party’s rights and obligations under Section 10.3 (Preemptive Rights) of the 2010 Agreement with respect to the Offering. 
 9.2. 2010 Agreement. The terms and conditions of the 2010 Agreement will remain in full force and effect. 
 Section 10. Closing Conditions. 
 10.1. Conditions to Lavazza’s
Obligations at each Closing. The obligation of Lavazza to complete the transactions contemplated in this Agreement shall be subject to the satisfaction of, or compliance with, at or before each of the Closings, of each of the following
conditions precedent (each of which may be waived by Lavazza in whole or in part): 
 (a) Representations and Warranties.
The representations and warranties of the Company contained herein shall be true and correct in all material respects on the date hereof and on and as of such Closing Date, other than such representations and warranties that expressly speak only as
of a specific date or time, which will be true and correct as of such specified date or time, and a duly authorized officer of the Company shall certify in writing such compliance. 

(b) Covenants. The Company shall have, in all material respects, performed all obligations and complied with all covenants
required hereunder to be performed by it at or prior to such Closing, and a duly authorized officer of the Company shall certify in writing such performance. 
 (c) Qualifications and No Legal Impediments. No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any Governmental Body that
would, as of such Closing Date, prevent the issuance or sale of the New Shares to be issued and sold at such Closing; and no injunction or order of any federal, state or foreign court shall have been issued that would, as of such Closing Date,
prevent the issuance or sale of the New Shares to be issued and sold at such Closing. 
 (d) No Material Adverse Effect.
There shall not have occurred a Material Adverse Effect after the date of this Agreement. 
 10.2. Conditions to the
Obligations of the Company at Closing. The obligation of the Company to complete the transactions contemplated in this Agreement shall be subject to the satisfaction of, or compliance with, at or before such Closing, of each of the following
conditions precedent (each of which may be waived by the Company in whole or in part): 

  
 14 

 (a) Representations and Warranties. The representations and warranties of Lavazza
contained herein shall be true and correct on the date hereof and on and as of such Closing Date, other than such representations and warranties that expressly speak only as of a specific date or time, which will be true and correct as of such
specified date or time, and a duly authorized officer of Lavazza shall certify in writing such compliance. 
 (b) Covenants.
Lavazza shall have, in all material respects, performed all obligations and complied with all covenants required hereunder to be performed by it at or prior to such Closing, and a duly authorized officer of Lavazza shall certify in writing such
performance. 
 (c) Qualifications and No Legal Impediments. No action shall have been taken and no statute, rule,
regulation or order shall have been enacted, adopted or issued by any Governmental Body that would, as of such Closing Date, prevent the issuance or sale of the New Shares; and no injunction or order of any federal, state or foreign court shall have
been issued that would, as of such Closing Date, prevent the issuance or sale of the New Shares. 
 Section 11. Termination
of Agreement. 
 11.1. Basis for Termination. This Agreement may be terminated: 

(a) by mutual written agreement of the Company and Lavazza; 
 (b) by either the Company or Lavazza, if the Primary Closing has not been consummated on or before June 30, 2011; provided, that the right to terminate this Agreement pursuant to this
Section 11 shall not be available to any party whose breach of any provision of this Agreement or willful conduct or failure to act has substantially contributed to the failure of, or has prevented, the Primary Closing to be consummated
by such time; or 
 (c) by either the Company or Lavazza, as the case may be, if a condition to the obligations of such party to
complete the transactions set forth in Section 10 shall have become incapable of satisfaction. 
 11.2. Effect of
Termination. In the event of termination of this Agreement pursuant to Section 11.1, the Agreement (other than the provisions of this Section 11 and Sections 4.5 and 5.9 (Brokers’ Fees),
Section 12.8 (Expenses), Section 7 (Confidentiality), Section 6.2 (Public Announcements), and Section 13 (Governing Law; Jurisdiction; Venue; Jury Trial), which shall survive termination if such
termination occurs prior to the Primary Closing and Section 6.2 (Overallotment Closings) and Section 9 (Certain Agreements of the Parties), in addition to the Sections listed above, which shall survive termination if such
termination occurs subsequent to the Primary Closing) shall then be null and void and have no further force and effect and all other rights and liabilities of the parties hereunder will terminate without any liability of any party to the other,
except that nothing herein shall relieve either party from liability for any willful breach of this Agreement prior to such termination. 

  
 15 

 Section 12. Miscellaneous. 

12.1. Assignment. This Agreement shall inure to the benefit of and be binding upon and enforceable by the parties and their
successors and permitted assigns. However, neither party may assign or delegate any of its rights or obligations under this Agreement without the prior written consent of the other party, except that Lavazza may assign its right to purchase the New
Shares to one of its Subsidiaries in accordance with Section 2 but no such assignment shall relieve Lavazza of its obligations hereunder without the prior written consent of the Company. 

12.2. Severability. If any part of this Agreement is declared invalid or unenforceable by any court of competent jurisdiction,
such declaration shall not affect the remainder of this Agreement and the invalidated provision shall be revised in a manner that will render such provision valid while preserving the parties’ original intent to the maximum extent possible.

 12.3. Entire Agreement. This Agreement, the 2010 Agreement, the Confidentiality Agreement and the Registration Rights
Agreement constitute the entire agreement between the parties relating to the subject matter hereof and all other previous agreements or arrangements between the parties, written or oral, relating to the subject matter hereof are superseded.

 12.4. No Amendment. No amendment, alteration or modification of any of the provisions of this Agreement will be
binding unless made in writing and signed by each of the parties hereto. 
 12.5. Compliance with Laws. In performing
this Agreement, each party shall comply with all applicable laws, rules and regulations and shall not be required to perform or omit to perform any act required or permitted under this Agreement if such performance or omission would violate the
provisions of any such law, rule or regulation. 
 12.6. Counterparts. This Agreement may be executed in two
counterparts, each of which shall be deemed an original but both of which together shall constitute one and the same instrument. 
 12.7. Notices. All notices required or permitted under this Agreement must be in writing and sent to the address or facsimile number identified below. Notices must be given: (a) by personal
delivery, with receipt acknowledged; (b) by facsimile followed by hard copy delivered by the methods under (c) or (d); (c) by prepaid certified or registered mail, return receipt requested; or (d) by prepaid reputable overnight
delivery service. Notices will be effective upon receipt. Either party may change its notice address by providing the other party written notice of such change. Notices shall be delivered as follows: 

 

	If to Lavazza:	Luigi Lavazza S.p.A. 

	    	Attention: Simona Musso, General Counsel 

	    	Corso Novara, 59 

	    	10154 Torino, Italy 

  
 16 

	    	Fax: +39-011-239-8635 

  

	with a copy to:	Cleary Gottlieb Steen & Hamilton LLP 

	    	Attention: William A. Groll, Esq. 

	    	One Liberty Plaza 

	    	New York, NY 10006 

	    	Fax: (212) 225-3999 

  

	If to the Company:	Green Mountain Coffee Roasters, Inc. 

	    	Attention: Howard Malovany, 

	    	Vice President, Corporate General Counsel, and Secretary 

	    	33 Coffee Lane 

	    	Waterbury, VT 05676 

	    	Fax: (802) 882-4400 

  

	with a copy to:	Ropes & Gray LLP 

	    	Attention: Jane D. Goldstein, Esq. 

	    	Prudential Tower, 800 Boylston St 

	    	Boston, MA 02199 

	    	Fax: (617) 235-0376 

 12.8.
Expenses. All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party which shall have incurred the same, and the other party shall have no liability thereto.

 12.9. Headings. The titles of the Articles and Sections contained in this Agreement are for convenience only and shall
not be considered in construing this Agreement. 
 12.10. Parties in Interest. Other than Section 8, nothing
in this Agreement is intended to provide any rights or remedies to any Person other than the parties hereto. 
 12.11.
Waiver. No failure on the part of either party hereto to exercise any power, right, privilege or remedy under this Agreement, and no delay on the part of either party hereto in exercising any power, right, privilege or remedy under this
Agreement, shall operate as a waiver thereof; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy. 

12.12. Survival. The representations and warranties made in this Agreement shall survive any investigation made by any party
hereto and the last Closing under this Agreement for two (2) years from the Closing Date for such Closing. For the avoidance of doubt, any covenant or agreement of any of the parties set forth in this Agreement shall survive such last Closing
and shall continue in full force and effect until the time specified in this Agreement for such covenant or agreement or, if no such time is specified, indefinitely. 
 12.13. Interpretation of Agreement. 

  
 17 

 (a) Each party hereto acknowledges that it has participated in the drafting of this
Agreement, and any applicable rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not be applied in connection with the construction or interpretation of this Agreement. 

(b) Whenever required by the context hereof, the singular number shall include the plural, and vice versa; the masculine gender shall
include the feminine and neuter genders; and the neuter gender shall include the masculine and feminine genders. 
 (c) As used
in this Agreement, the words “include” and “including,” and variations thereof, shall not be deemed to be terms of limitation, and shall be deemed to be followed by the words “without limitation.” 

(d) The words “hereof,” “herein,” “hereunder” and words of similar import shall refer to this Agreement as
a whole and not to any particular Section or subsection of this Agreement, and references herein to “Sections” are intended to refer to Sections of this Agreement. 
 Section 13. Governing Law; Jurisdiction; Venue; Jury Trial. 
 13.1.
Governing Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of New York without giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other
jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. 
 13.2.
Submission to Jurisdiction. Each of the Company and Lavazza irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the courts of the State of New York sitting in the Borough of Manhattan, New
York and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement and the transactions contemplated herein, or for
recognition or enforcement of any judgment, and each of the Company and Lavazza irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York state court or, to the
fullest extent permitted by applicable law, in such federal court. Each of the Company and Lavazza hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law. 
 13.3. Waiver of Venue. Each of the Company and Lavazza irrevocably
and unconditionally waives, to the fullest extent permitted by applicable law, any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement and the transactions
contemplated herein in any court referred to in Section 13.2. Each of the Company and Lavazza hereby irrevocably waives, to the fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such
action or proceeding in any such court. 

  
 18 

 13.4. Waiver of Jury Trial. EACH OF THE COMPANY AND LAVAZZA HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON
CONTRACT, TORT OR ANY OTHER THEORY). EACH OF THE COMPANY AND LAVAZZA HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT EACH OF THE COMPANY AND LAVAZZA HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

[Remainder of Page Intentionally Left Blank; Signature Page Follows] 

  
 19 

 IN WITNESS WHEREOF, the undersigned have caused this Common Stock Purchase Agreement to be
duly executed by their respective authorized signatories as of the date first indicated above. 
  

									
	LUIGI LAVAZZA S.P.A.	 		 	GREEN MOUNTAIN COFFEE ROASTERS, INC.
					
	By:	 	/s/ Alberto Lavazza	 		 	By:	 	/s/ Howard Malovany
	 Name:
 Title:
	 	 Alberto Lavazza
 Chairman of
the Board
	 		 	 Name:
 Title:
	 	 Howard Malovany
 Vice
President, Corporate General Counsel and Secretary

  
 20Employment Agreement by & between MMC, Inc & David A. Nadler

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (the
“Agreement”) is made and entered into effective as of March 1, 2007 (the “Effective Date”), by and between Marsh & McLennan Companies, Inc. (together with its successors and assigns,
“MMC” or the “Company”), a Delaware corporation, and David A. Nadler (the “Executive”). 
 WHEREAS, the Executive and the Company desire to embody in this Agreement the terms and conditions of the Executive’s continued employment by the Company; 

NOW, THEREFORE, in consideration of the premises and mutual promises contained in this Agreement, including the compensation paid
to the Executive, the parties hereby agree: 
 ARTICLE 1 

Employment, Duties and Responsibilities 
 1.1 Employment; Reporting. The Company shall employ the Executive as its Vice Chairman, Office of the Chief Executive Officer of MMC (“MMC Vice Chairman”)] and shall make the Executive
available to continue to provide services for Mercer Delta Consulting LLC (“Mercer Delta”) and its clients. The Executive hereby accepts such continued employment, subject to the terms and conditions of this Agreement. The Executive shall
report directly to the Chief Executive Officer of the Company (the “Chief Executive Officer”) 
 1.2 Duties and
Responsibilities. 
 (a) The Executive shall have such duties and responsibilities and power and authority as those normally
associated with the position of MMC Vice Chairman, as well as any additional duties, responsibilities and/or powers and authority consistent with his continued service for Mercer Delta and its clients or as otherwise assigned to him by the Chief
Executive Officer which are consistent with his position as MMC Vice Chairman. 
 The Executive agrees to use his best efforts
to promote the interests of the Company and Mercer Delta, and agrees that he will devote his entire working time, care and attention to his duties, responsibilities and obligations to the Company and Mercer Delta throughout the Term (as defined in
Section 2.1 hereof). The Executive may serve on the boards of other civic, charitable and corporate entities with the prior written consent of the Chief Executive Officer and manage his personal investments and affairs, so long as such
activities do not, either individually or in the aggregate, interfere with the Executive’s duties and responsibilities to the Company and Mercer Delta. 

  
 - 1 -

 ARTICLE 2 

Term 
 2.1 Employment Period. The initial term of the Executive’s employment under this Agreement (the “Initial Term”) shall commence on the Effective Date and shall continue
through February 28, 2010. Thereafter, this Agreement shall automatically renew for successive one (1) year terms (each, a “Renewal Term”) unless either party sends a notice of termination to the other party in
accordance with Section 6.2 hereof at least ninety (90) days prior to the expiration of the Initial Term or Renewal Term, as the case may be. The Initial Term, together with any and all Renewal Terms, if any, are the
“Term.” After the expiration of the Term for any reason the Executive will become an “at-will” employee of the Company. 
 ARTICLE 3 
 Compensation 

As compensation and consideration for the performance by the Executive of his obligations under this Agreement, during the Term the Executive shall be
entitled to the compensation and benefits set forth in this Article 3 (collectively, “Compensation”) (subject, in each case, to the provisions of Article 5 hereof). 

3.1 Base Salary. The Executive shall receive an annual base salary (“Base Salary”) of $750,000. The Base
Salary shall be reviewed at least annually by the Compensation Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and may be increased (but not decreased) in the sole discretion
of the Committee. If the Executive’s Base Salary is increased, the increased amount shall thereafter be the Base Salary. The Base Salary shall be payable in installments, consistent with the Company’s payroll procedures in effect from time
to time. 
 3.2 Annual Bonus. In addition to Base Salary, the Executive shall be eligible to participate throughout the
Term in such annual bonus plans and programs (“Annual Bonus Programs”), as may be in effect from time to time in accordance with the Company’s compensation practices and the terms and provisions of any such plans or programs.
The Executive’s annual target bonus opportunity will range between one hundred percent (100%) and one hundred and fifty percent (150%) of his Base Salary. The actual bonus amounts will be determined by the Committee based on the
achievement of entity and individual performance goals, with bonuses in the upper portion of the annual bonus opportunity range being earned only for superior achievement of such performance goals. The annual bonus shall be paid in the same time and
manner as corresponding awards to other senior executives of the Company generally. 
 3.3 Mercer Delta Performance
Bonus. In addition to the annual bonus provided in Section 3.2 hereof, the Executive shall be eligible to participate in the Mercer Delta Senior Partner Compensation Program (the “Mercer Delta Program”), pursuant to which the

  
 - 2 -

 
Executive will be eligible to receive an annual bonus based on his personal net billed revenue (“PNBR”) and his net revenue generation credits (“NRGC”) for the applicable
performance year, each determined pursuant to the Mercer Delta Program. The bonus will be determined by (i) multiplying the sum of the Executive’s PNBR and NRGC by a payout percentage applied under the Mercer Delta Program for that
performance year and (ii) reducing the amount determined in (i) by that portion of the Base Salary received by the Executive during the applicable performance year that is allocated to the Executive’s services for Mercer Delta. Unless
otherwise agreed in writing by the parties hereto, 50% of the Base Salary shall be allocated to the Executive’s services for Mercer Delta. 
 3.4 Long-Term and Equity Compensation. The Executive shall also be eligible to participate in the Company’s long-term incentive compensation plans (including its equity-compensation
plans) applicable to MMC’s senior executive officers. The specific awards under these plans will be made by the Committee in its sole discretion, commensurate with the Executive’s position as MMC Vice Chairman. Notwithstanding the
foregoing, the Committee shall each year grant to the Executive, no later than it makes corresponding awards to other senior executives of the Company generally, and on terms and conditions that are both consistent with this Agreement and no less
favorable to the Executive than the terms and conditions that apply to corresponding awards to other senior executives of the Company generally, long-term incentive compensation with a combined grant-date target value between one hundred percent
(100%) and one hundred and fifty percent (150%) of the Executive’s Base Salary, as determined by the Committee. 

3.5 Benefit Plans. The Executive and the Executive’s spouse and eligible dependents, as the case may be, shall be eligible to
participate in employee benefit and fringe benefit plans and programs provided by the Company, including but not limited to pension, life insurance, health, dental and disability plans and programs, on terms and conditions generally applicable to
executives of the Company. Nothing herein shall limit the Company’s ability to change, modify, cancel or amend any such plans. The Executive shall be eligible to participate in the Company’s retiree medical program as may be in effect from
time to time, subject to satisfaction of applicable eligibility requirements. 
 3.6 Executive Financial Services
Program. The Executive shall be eligible to participate in the MMC Financial Services Program as in effect from time to time. 
 3.7 Expenses. The Company will reimburse the Executive for reasonable business-related expenses incurred by him in connection with the performance of his duties hereunder during the Term, subject,
however, to its written policies relating to business-related expenses as in effect, from time to time, during the Term, a copy of which has previously been provided to the Executive. 

3.8 Vacation. The Executive shall be entitled to paid vacation in accordance with the Company’s policy in effect from time to
time during the Term. 

  
 - 3 -

 3.9 Indemnification. The Executive shall be entitled to indemnification in accordance
with the Company’s by-laws as in effect from time to time. 
 ARTICLE 4 

Noncompetition/Nonsolicitation/Confidentiality 
 4.1 Noncompetition and Nonsolicitation Periods 
 (a) During the
Executive’s employment with the Company or any subsidiary and during the 12 month period following termination of the Executive’s employment with the Company or any subsidiary for any reason (other than a termination of employment by the
Company due to Disability (as defined in Section 5.4 hereof)), the Executive shall not, directly or indirectly: 
  

	 	(i)	engage in any Competitive Activity or 

  

	 	(ii)	whether on behalf of himself or any other person or entity (x) solicit any customer or client of the Company or any subsidiary with respect to a Competitive
Activity or (y) solicit or employ any employee of the Company or any subsidiary for the purpose of causing such employee to terminate his or her employment with the Company or such subsidiary. 

For purposes of this Agreement, “Competitive Activity” shall mean the Executive’s engaging in an activity – whether as an employee,
consultant, principal, member, agent, officer, director, partner or shareholder (except as a less than 1% shareholder of a publicly traded company) – that is competitive with any business of the Company or any subsidiary conducted by the
Company or such subsidiary as of the date of the termination of the Executive’s employment; provided, however, that the Executive may be employed by or otherwise associated with: 

 

	 	(i)	a business of which a subsidiary, division, segment, unit, etc. is in competition with the Company or any subsidiary but as to which such subsidiary, division, segment,
unit, etc., the Executive has absolutely no direct or indirect responsibilities or involvement, or 

  

	 	(ii)	a company where the Competitive Activity is: 

  

	 	(x)	from the perspective of such company, de minimis with respect to the business of such company and its affiliates, and 

 

	 	(y)	from the perspective of the Company or any subsidiary, not in material competition with the Company or any subsidiary. 

Notwithstanding the foregoing, if the Executive’s employment with the Company or any subsidiary is terminated for any reason (other than a
termination of employment by the Company 

  
 - 4 -

 
due to Disability (as defined in Section 5.4 hereof)) after the Initial Term, the Executive may continue to perform services for existing clients of Mercer Delta (and may pursue new client
opportunities) as an independent contractor to Mercer Delta. In that capacity, Mercer Delta will pay the Executive 85% of his Mercer Delta billing rate in effect for such clients immediately prior to his termination of employment, subject to
collection of fees from the relevant client. Mercer Delta and the Executive would enter into Mercer Delta’s standard independent contractor agreement to govern their relationship. 

(b) At all times prior to and following the Executive’s termination of employment, the Executive shall not disclose to anyone or
make use of any trade secret or proprietary or confidential information of the Company or any subsidiary, including such trade secret or proprietary or confidential information of any customer or client or other entity to which the Company or any
subsidiary owes an obligation not to disclose such information, which the Executive acquires during the Executive’s employment with the Company or any subsidiary, including but not limited to records kept in the ordinary course of business
except: 
  

	 	(i)	As such disclosure or use may be required or appropriate in connection with the Executive’s work as an employee of the Company or any subsidiary;

  

	 	(ii)	When required to do so by a court of law, by any governmental agency having supervisory authority over the business of the Company or any subsidiary or by any
administrative or legislative body (including a committee thereof) with apparent jurisdiction to order the Executive to divulge, disclose or make accessible such information; 

 

	 	(iii)	As to such confidential information that becomes generally known to the public or trade without the Executive’s violation of this Section 4.1(b); or

  

	 	(iv)	To the Executive’s spouse and/or the Executive personal tax and financial advisors as reasonably necessary or appropriate to advance the Executive’s tax,
financial and other personal planning (each an “Exempt Person”), provided, however, that any disclosure or use of any trade secret or proprietary or confidential information of the Company or any subsidiary by an Exempt Person shall
be deemed to be a breach of this Section 4.1(b) by the Executive. 

 (c) The Executive acknowledges and
agrees that the covenants contained in Sections 4.1(a) and (b) hereof are reasonable and necessary to protect the confidential information and goodwill of the Company and its subsidiaries. The Executive further represents that his
experience and capabilities are such that the provisions of Sections 4.1(a) and (b) hereof will not prevent him from earning a livelihood. 

  
 - 5 -

 ARTICLE 5 

Termination; Change of Control 
 5.1 Termination by the Company. The Company shall have the right, subject to the terms of this Agreement, to terminate the Executive’s employment at any time, with or without
“Cause.” The Company shall give the Executive written notice of a termination for Cause (the “Cause Notice”) in accordance with Section 6.2 hereof. The Cause Notice shall state the particular action(s) or
inaction(s) giving rise to the termination for Cause. No action(s) or inaction(s) will constitute Cause unless (1) a resolution finding that Cause exists has been approved by a majority of all of the members of the Board at a
meeting at which the Executive is allowed to appear with his legal counsel and (2) where remedial action is feasible, the Executive fails to remedy the action(s) or inaction(s) within ten (10) days after receiving the Cause
Notice. If the Executive so effects a cure to the satisfaction of the Board, the Cause Notice shall be deemed rescinded and of no force or effect. For purposes of this Agreement, “Cause” shall mean only: 

(a) any willful refusal by the Executive to follow lawful directives of the Board which are consistent with the scope and nature of the
Executive’s duties and responsibilities as set forth herein; 
 (b) the Executive’s conviction of, or plea of guilty
or nolo contendere to, a felony or of any crime involving moral turpitude, fraud or embezzlement; 
 (c) any gross
negligence or willful misconduct of the Executive resulting in a material loss to the Company or any of its subsidiaries, or material damage to the reputation of the Company or any of its subsidiaries; 

(d) any material breach by the Executive of any one or more of the covenants referred to in Article 4 hereof; or 

(e) any violation of any statutory or common law duty of loyalty to the Company or any of its subsidiaries. 

5.2 Termination by the Executive. The Executive shall have the right, subject to the terms of this Agreement, to terminate his
employment at any time with or without “Good Reason”; provided, that the Executive must give the Company at least 30 days’ prior written notice of any termination by the Executive without Good Reason in accordance with
Section 6.2 hereof. For purposes of this Agreement, “Good Reason,” shall mean the occurrence of any of the following during the Term, without the Executive’s prior written consent, during the 60-day period preceding a
termination by the Executive (provided that an isolated, insubstantial or inadvertent action not taken in bad faith or a failure not occurring in bad faith which is remedied by the Company promptly after receipt of notice thereof given by the
Executive shall not constitute Good Reason): (A) the assignment to the Executive of any duties materially 

  
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inconsistent in any respect with the Executive’s position (including status, offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by this
Agreement; (B) any removal of the Executive from any of the positions he holds as of the date of this Agreement; (C) any failure by the Company to comply with the provisions of Article 3 hereof; (D) a failure by the Company to
comply with any other material provision of this Employment Agreement; or (E) a change in the Executive’s principal work location to more than 50 miles from his current work location. 

5.3 Death. In the event the Executive dies during the Term, the Executive’s employment shall automatically terminate, such
termination to be effective on the date of the Executive’s death. 
 5.4 Disability. In the event that the Executive
shall suffer a disability during the Term which shall have prevented him from performing satisfactorily his obligations hereunder for a period of at least ninety (90) consecutive days or one hundred eighty (180) non-consecutive days within
any three hundred sixty-five (365) day period (“Disability”), the Company shall have the right to terminate the Executive’s employment, such termination to be effective upon the giving of notice thereof to the Executive in
accordance with Section 6.2 hereof. 
 5.5 Effect of Termination. 

(a) In the event of termination of the Executive’s employment for any reason during the Term, the Term shall end as of the date of
termination and the Company shall provide to the Executive (or his beneficiary, heirs or estate in the event of his death), as provided in Section 5.7 hereof, (i) any Base Salary to the extent not theretofore paid, (ii) any
reimbursable business expenses that have not yet been reimbursed, and (iii) if not yet paid, the earned annual bonus for the calendar year that preceded the time of the termination (collectively, the “Accrued Obligations”).

 (b) In the event of termination of the Executive’s employment during the Term (i) by the Company for Cause or
(ii) by the Executive for other than for Good Reason, neither the Executive nor any beneficiary, heir or estate of the Executive shall be entitled to any further compensation other than the Accrued Obligations. In such event, all of the
Executive’s outstanding unvested equity-based awards shall be immediately forfeited, except to the extent otherwise provided in the terms and conditions for such awards or in any applicable Company Plan. 

(c) In the event of termination of the Executive’s employment during the Term (i) by the Company based on the Disability of the
Executive as defined in Section 5.4 hereof, or (ii) due to the Executive’s death, the Company shall pay the Executive (or his estate, beneficiary or heir in the case of death), in addition to the Accrued Obligations, a prorated target
annual bonus under Section 3.2 hereof for the year in which the termination occurs based on the portion of the year elapsed as of the date of such termination. Any such bonus amount shall be

  
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paid subject to the conditions in Section 5.7 hereof. In addition, upon such a termination, all unvested equity awards held by the Executive as of the date of termination that were granted
to the Executive pursuant to Sections 3.2 and 3.4 hereof shall immediately fully vest as of the date of termination. 
 (d)
In the event of termination of the Executive’s employment during the Term (i) by the Company other than for Cause (and not due to the Executive’s death or Disability), or (ii) by the Executive for Good Reason, in either case
which is not covered by Section 5.6 hereof, the Company shall pay the Executive, in addition to the Accrued Obligations, a lump sum amount equal to the sum of (x) the Executive’s then-current Base Salary, (y) the average annual
bonus actually paid to the Executive under Section 3.2 hereof during the three years prior to the termination (or such shorter time if the termination occurs prior to the payment of three annual bonuses to the Executive under the
Agreement, or if termination occurs before any annual bonus has been actually paid to the Executive under the Agreement, then the Executive’s target annual bonus for the year of termination shall be used for purposes of determining the average
annual bonus) and (z) the average annual Mercer Delta performance bonus actually paid to the Executive under Section 3.3 hereof during the three years prior to the termination (or such shorter time if the termination occurs prior to
the payment of three annual Mercer Delta performance bonuses to the Executive under the Agreement (such sum is the “Annual Compensation”). The Executive shall also be entitled to prorated annual bonuses under Sections 3.2 and 3.3 hereof
for the year in which the termination occurs based on the degree of achievement of goals under the applicable bonus programs in effect at the time of termination and the portion of the year elapsed as of the date of such termination. The degree of
achievement of goals shall be determined in accordance with the bonus programs, except that should any goals be of a subjective nature, the degree of achievement thereof shall be determined by the Committee in its sole discretion. Any such bonus
amounts shall be paid at the same time as such annual bonuses for the year are paid to the Company’s senior executives generally. In addition, upon such a termination, all unvested equity awards held by the Executive as of the date of
termination that were granted to the Executive pursuant to Sections 3.2, 3.3 and 3.4 hereof shall immediately fully vest as of the date of termination. 
 5.6 Change in Control. Upon the termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason (i) during the 6-month period immediately
preceding the occurrence of a Change in Control (as defined in the Company’s 2000 Senior Executive Incentive and Stock Award Plan, as in effect on the date hereof) or (ii) during the 2-year period immediately following a Change in
Control, the Executive shall be entitled to receive, in addition to the Accrued Obligations, promptly following the later of such termination and such a Change in Control, the Annual Compensation (as defined in Section 5.5(d) hereof). The
Executive shall also be entitled to a prorated annual bonus under Section 3.2 hereof for the year in which the termination occurs based on the portion of the year elapsed as of the date of such termination multiplied by the greater of
(I) the Executive’s target annual bonus for the year of termination or (II) the average annual bonus actually paid to the 

  
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Executive during the three years prior to the termination. The Executive shall also be entitled to a prorated annual Mercer Delta performance bonus under Section 3.3 hereof for the year
in which the termination occurs based on the degree of achievement of goals under the Mercer Delta performance bonus program in effect at the time of termination and the portion of the year elapsed as of the date of such termination. The degree of
achievement of goals shall be determined in accordance with the Mercer Delta performance bonus program, except that should any goals be of a subjective nature, the degree of achievement thereof shall be determined by the Committee in its sole
discretion. Any such bonus amounts shall be paid as provided in Section 5.7 hereof. The vesting of equity-based awards held by the Executive as of the date of the Change in Control shall be determined in accordance with the terms and conditions
of the applicable equity compensation plan and/or agreement, provided, however, that all equity-based awards granted to the Executive which are unvested on the date of termination shall then immediately fully vest. Payments due to the Executive
under this Section 5.6 shall be offset, dollar-for-dollar, by corresponding amounts (if any) previously paid under Section 5.5(d) (e.g., if the termination occurred prior to the pertinent Change in Control). 

5.7 Conditions. Any payments or benefits made or provided pursuant to this Article 5 (other than the Accrued
Obligations) are subject to the Executive’s: 
 (a) compliance with the provisions of Article 4 and
Section 5.9 hereof (provided that this shall not affect the timing of the payment to the Executive provided for below in this Section 5.7 unless the Executive is in material breach of any of such provisions as of the time such payment is
to be made); 
 (b) delivery to the Company of an executed General Release, which shall be substantially in the form attached
hereto as Exhibit A, with such changes therein or additions thereto as needed under then applicable law to give effect to its intent and purpose; and 
 (c) delivery to the Company of a resignation from all offices, directorships and fiduciary positions with the Company, its affiliates and employee benefit plans. 

Notwithstanding the due date of any post-employment payments, any amounts due following a termination under this Agreement (other than
the Accrued Obligations, which shall be paid when due or on such later date as may be required to avoid any “additional tax” under Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”)) shall
not be due until after the expiration of any revocation period applicable to the General Release without the Executive having revoked such General Release, and any such amounts shall be paid to the Executive within thirty (30) days of the
expiration of such revocation period without the occurrence of a revocation by the Executive (or the earliest date as may be required to avoid any “additional tax” under Section 409A). Nevertheless (and regardless of whether the
General Release has been executed by the Executive), upon any termination of Executive’s employment, Executive shall be entitled to receive the Accrued Obligations, payable within thirty (30) days after the date of termination or in
accordance with the applicable plan, program or policy. 

  
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 5.8 No Mitigation. The Executive shall be under no obligation to seek other
employment following a termination of his employment with the Company or any subsidiary for any reason. In addition, there shall be no offset against amounts due to the Executive under this Article 5 or otherwise on account of any compensation
attributable to any subsequent employment. 
 5.9 Cooperation; Assistance. The Executive agrees to cooperate fully,
subject to reimbursement by the Company of reasonable out-of-pocket costs and expenses, with the Company or any subsidiary and their counsel with respect to any matter (including any litigation, investigation or governmental proceeding) which
relates to matters with which the Executive was involved or about which he had knowledge during his employment with the Company or any subsidiary. Such cooperation shall include appearing from time to time at the offices of the Company or any
subsidiary or their counsel for conferences and interviews and in general providing the officers of the Company or any subsidiary and their counsel with the full benefit of the Executive’s knowledge with respect to any such matter. The
Executive further agrees, upon termination of his employment for any reason, to assist his successor in the transition of his duties and responsibilities to such successor. The Executive agrees to render such cooperation in a timely fashion and at
such times as may be mutually agreeable to the parties. 
 ARTICLE 6 

Miscellaneous 
 6.1 Benefit of Agreement, Assignment; Beneficiary. 
 (a) This Agreement
shall inure to the benefit of and be binding upon the Company and its successors, assigns and any corporation or person which may acquire all or substantially all of the assets or business of the Company or with or into which the Company may be
consolidated or merged. This Agreement shall also inure to the benefit of, and be enforceable by, the Executive and his personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the
Executive should die while any amount would still be payable to the Executive hereunder if he had continued to live, all such amounts shall be paid in accordance with the terms of this Agreement to the Executive’s beneficiary, devisee, legatee
or other designee, or if there is no such designee, to the Executive’s estate. 
 (b) The Company and its subsidiaries
shall require any successor (whether direct or indirect, by operation of law, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company or Mercer Delta to expressly assume and
agree to perform this Agreement (including, if applicable, the post-employment independent contractor arrangement set forth in Section 4.1(a) hereof) in the same manner and to the same extent that the Company (or Mercer Delta, as applicable)
would be required to perform it if no such succession had taken place. 

  
 - 10 -

 6.2 Notices. Any notice required or permitted hereunder shall be in writing and shall
be sufficiently given if personally delivered or if sent by certified mail, postage prepaid, with return receipt requested or by reputable overnight courier, addressed: (a) in the case of the Company to the General Counsel of the Company at the
Company’s then-current headquarters, and (b) in the case of the Executive, to the Executive’s last known address as reflected in the Company’s records, or to such other address as either party shall designate by written notice to
the other party. Any notice given hereunder shall be deemed to have been given at the time of receipt thereof by the person to whom such notice is given if personally delivered or at the time of mailing if sent by certified mail or by courier.

 6.3 Entire Agreement; Amendment. Except as specifically provided herein, this Agreement contains the entire agreement
of the parties hereto with respect to the terms and conditions of the Executive’s employment during the Term and supersedes any and all prior agreements and understandings, whether written or oral, between the parties hereto with respect to
compensation due for services rendered hereunder. For the avoidance of doubt, in the event of any inconsistency between this Agreement and any plan, program or arrangement of the Company or its affiliates, the terms of this Agreement shall control.
This Agreement may not be changed or modified except by an instrument in writing signed by both of the parties hereto. 
 6.4
Waiver. The waiver of either party of a breach of any provision of this Agreement shall not operate or be construed as a continuing waiver or as a consent to or waiver of any subsequent breach hereof. 

6.5 Headings. The Article and Section headings herein are for convenience of reference only, do not constitute a part of
this Agreement and shall not be deemed to limit or affect any of the provisions hereof. 
 6.6 Governing Law. This
Agreement shall be governed by, and construed and interpreted in accordance with, the internal laws of the State of New York without reference to the principles of conflict of laws. 

6.7 Agreement to Take Actions. Each party hereto shall execute and deliver such documents, certificates, agreements and other
instruments and shall take such other actions, as may be reasonably necessary or desirable in order to perform his or its obligations under this Agreement or to effectuate the purposes hereof. 

6.8 Dispute Resolution. Any dispute or controversy arising from or relating to this Agreement and/or the Executive’s
employment or relationship with the Company or any subsidiary shall be resolved by binding arbitration, to be held in New York City or in any other location mutually agreed to by the Company and the Executive in accordance with the rules and
procedures of the American Arbitration Association. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. The Executive and the Company agree that, in the event a dispute arises that concerns
this Agreement, if the Executive is the Prevailing Party, the Executive shall be entitled to recover all of his reasonable fees and 

  
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expenses, including, without limitation, reasonable attorneys’ fees and expenses, incurred in connection with the dispute. A Prevailing Party is one who is successful on any significant
substantive issue in the action and achieves either a judgment in such party’s favor or some other affirmative recovery. 

6.9 Survivorship. The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement
to the extent necessary to effectuate the intended preservation of such rights and obligations, including without limitation Article 4 hereof. 
 6.10 Validity. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision or provisions of this
Agreement, which shall remain in full force and effect. If any provision of this Agreement is held to be invalid, void or unenforceable, any court so holding shall substitute a valid, enforceable provision that preserves, to the maximum lawful
extent, the terms and intent of this Agreement. 
 6.11 Construction. The parties have participated jointly in the
negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring
or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. Any reference to any federal, state, local, or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder,
unless the context requires otherwise. The word “including” shall mean including without limitation. 
 6.12
Section 409A. It is intended that this Agreement and the Company’s and the Executive’s exercise of authority or discretion hereunder shall comply with the provisions of Section 409A and the treasury regulations relating
thereto so as not to subject the Executive to the payment of interest and tax penalty which may be imposed under Section 409A. In furtherance of this interest, to the extent that any regulations or other guidance issued under Section 409A
would result in the Executive being subject to payment of “additional tax” under Section 409A, the parties agree to use their best efforts to amend this Agreement in order to avoid the imposition of any such “additional tax”
under Section 409A, which such amendment shall designed to minimize the adverse economic effect on the Executive without increasing the cost to the Company (other than transactions costs), all as reasonably determined in good faith by the
Company and the Executive to maintain to the maximum extent practicable the original intent of the applicable provisions. 

6.13 Withholding. All compensation paid or provided to the Executive under this Agreement shall be subject to any applicable
income, payroll or other tax withholding requirements. 

  
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 6.14 Counterparts. This Agreement may be executed in one or more counterparts, each
of which shall be deemed to be an original but all of which together will constitute one and the same instrument. 
 IN
WITNESS WHEREOF, each of the parties hereto has duly executed this Agreement on this      day of April, effective as of the date first written above. The Company represents that its execution of this Agreement has been
authorized by the Committee. 
  

			
	MARSH & MCLENNAN COMPANIES, INC.
		
	By:	 	 /s/ Michael G. Cherkasky

	Name:	 	Michael G. Cherkasky
	Title:	 	President & Chief Executive Officer
	
	 /s/ David A. Nadler

	DAVID A. NADLER

  
 - 13 -

 EXHIBIT A 

GENERAL RELEASE OF ALL CLAIMS 
 1. For valuable consideration, the adequacy of which is hereby acknowledged, the undersigned (“Executive”), on his own behalf and on behalf of his heirs, executors, administrators,
successors, representatives and assigns, does herein knowingly and voluntarily unconditionally release, waive, and fully discharge Marsh & McLennan Companies, Inc. and its subsidiaries (including successors and assigns
thereof) (collectively, the “Company”), and all of their respective past, present and future employees, officers, directors, agents, affiliates, parents, predecessors, administrators, representatives, attorneys, and
shareholders, and employee benefit plans, from any and all legal claims, liabilities, suits, causes of action (whether before a court or an administrative agency), damages, costs, attorneys’ fees, interest, injuries, expenses, debts, or demands
of any nature whatsoever, known or unknown, liquidated or unliquidated, absolute or contingent, at law or in equity, which were or could have been filed with any Federal, state, or local court, agency, arbitrator or any other entity, based directly
or indirectly on Executive’s employment with and separation from Company or based on any other alleged act or omission by or on behalf of Company prior to Executive’s signing this General Release. Without limiting the generality of the
foregoing terms, this General Release specifically includes all claims based on the terms, conditions, and privileges of employment, and those based on breach of contract (express or implied), tort, harassment, intentional infliction of emotional
distress, defamation, negligence, privacy, employment discrimination, retaliation, discharge not for just cause, constructive discharge, wrongful discharge, the Age Discrimination in Employment Act of 1967, as amended (the “ADEA”),
the Older Workers Benefit Protection Act of 1990, the Worker Adjustment and Retraining Notification Act, as amended, Executive Order 11,141 (age discrimination), Title VII of the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1991,
the Civil Rights Act of 1866 and 1871, Sections 1981 through 1988 of Title 42 of the United States code, as amended, 41 U.S.C. §1981 (discrimination), 29 U.S.C. §206(d)(1) (equal pay), Executive Order 11,246 (race, color,
religion, sex and national origin discrimination), the National Labor Relations Act, the Equal Pay Act of 1993, the Americans with Disabilities Act of 1990, the Occupational Safety and Health Act, as amended, the Family Medical Leave Act, the
Immigration Reform and Control Act, as amended, the Vietnam Era Veterans Readjustment Assistance Act, §§503-504 of the Rehabilitation Act of 1973 (handicap rehabilitation), the Employee Retirement Income Security Act of 1974, as amended,
any federal, state or local fair employment, civil or human rights, wage and hour laws and wage payment laws, and any and all other Federal, state, local or other governmental statutes, laws, ordinances, regulations and orders, under common law, and
under any Company policy, procedure, bylaw or rule. This General Release shall not waive or release any rights or claims that Executive may have which arise after the date of this General Release or that arise under or are preserved by Article 5 of
the Employment Agreement, effective as of August 1, 2005, by and between Company and the Executive (the “Employment Agreement”) and shall not waive post-termination health-continuation insurance benefits required by state or Federal
law. 
 2. Executive intends this General Release to be binding on his successors, and Executive specifically agrees not to file or continue any
claim in respect of matters covered by Section 1, above. Executive further agrees never to institute any suit, complaint, proceeding, grievance or action of any kind at law, in equity, or otherwise in any court of the United States or in any
state, 

 
or in any administrative agency of the United States or any state, county or municipality, or before any other tribunal, public or private, against Company arising from or relating to his
employment with or his termination of employment from Company and/or any other occurrences to the date of this General Release, other than a claim challenging the validity of this General Release under the ADEA or respecting any matters not covered
by this General Release. 
 3. Executive is further waiving his right to receive money or other relief in any action instituted by him or on his
behalf by any person, entity or governmental agency in respect of matters covered by this General Release. Nothing in this General Release shall limit the rights of any governmental agency or his right of access to, cooperation or participation with
any governmental agency, including without limitation, the United States Equal Employment Opportunity Commission. Executive further agrees to waive his rights under any other statute or regulation, state or federal, which provides that a general
release does not extend to claims which Executive does not know or suspect to exist in his favor at the time of executing this General Release, which if known to him must have materially affected his settlement with Company. 

4. Executive agrees that Executive shall not be eligible and shall not seek or apply for reinstatement or re-employment with Company and agrees that any
application for re-employment may be rejected without explanation or liability pursuant to this provision. 
 5. In further consideration of the
promises made by Company in this General Release, Executive specifically waives and releases Company , to the extent set forth in Section 1 hereof, from all claims Executive may have as of the date of this General Release, whether known or
unknown, arising under the ADEA. Executive further agrees that: 
  

	 	(a)	Executive’s waiver of rights under this General Release is knowing and voluntary and in compliance with the Older Workers Benefit Protection Act of 1990
(“OWBPA”); 

  

	 	(b)	Executive understands the terms of this General Release; 

  

	 	(c)	The consideration offered by Company under Article 5 of the Employment Agreement in exchange for the General Release represents consideration over and above that
to which Executive would otherwise be entitled, and that the consideration would not have been provided had Executive not agreed to sign the General Release and did not sign the Release; 

 

	 	(d)	Company is hereby advising Executive in writing to consult with an attorney prior to executing this General Release; 

 

	 	(e)	Company is giving Executive a period of twenty-one (21) days within which to consider this General Release; 

 

	 	(f)	Following Executive’s execution of this General Release, Executive has seven (7) days in which to revoke this General Release by written notice. An attempted
revocation not actually received by Company prior to the revocation deadline will not be effective; and 

  
 2 

	 	(g)	This General Release and all payments and benefits otherwise payable under Article 5 of the Employment Agreement (other than the Accrued Obligations) shall be
void and of no force and effect if Executive chooses to so revoke, and if Executive chooses not to so revoke, this General Release shall then become effective and enforceable. 

 6. This General Release does not waive rights or claims that may arise under the ADEA after the date Executive signs this General Release. To the extent barred by the OWBPA, the covenant not to sue
contained in Section 2, above, does not apply to claims under the ADEA that challenge the validity of this General Release. 
 7. To revoke
this General Release, Executive must send a written statement of revocation to: 
  

					
		 	Marsh & McLennan Companies, Inc.	 	
		 	[Address]	 	
		 	[City, State Zip Code]	 	
		 	Attn:                             
                    	 	

 The revocation must be received no later than 5:00 p.m. on the seventh day following
Executive’s execution of this General Release. If Executive does not revoke, the eighth day following Executive’s acceptance will be the “effective date” of this General Release. 

8. This General Release shall be governed by the internal laws (and not the choice of laws) of the State of New York, except for the application of
pre-emptive Federal law. 
 PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN
CLAIMS.
  

							
	Date:	 	  
	 		 	  

		 		 		 	David A. Nadler

  
 3

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