Document:

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                                                                    Exhibit 10.6

                         EXECUTIVE EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT dated March 19, 2002.

BETWEEN:

                               RICHARD A. GULLIVER

                                (the "Executive")

                                      -and-

                    HUB INTERNATIONAL LIMITED, a corporation

                  incorporated pursuant to the laws of Ontario

                              ("Hub International")

     In consideration of the mutual covenants and agreements contained herein,
the parties hereto agree as follows.

1.   INTERPRETATION

     (1)  In this Agreement:

          (a)  "Agreement" means this agreement, all schedules attached hereto
               and any amendments made to any of the foregoing by written
               agreement between the Executive and Hub International;

          (b)  "Basic Compensation" means the compensation defined in Schedule
               "B";

          (c)  "Benefits" means the benefits defined in Schedule "B";

          (d)  "Bonus" means the bonus defined in Schedule "B";

          (e)  "Cause" means (i) a material breach by the Executive of the
               provisions of this Agreement, which breach shall not have been
               cured by the Executive within thirty (30) days following written
               notice thereof by Hub International to the Executive, (ii) the
               commission of gross negligence by the Executive in the course of
               the Executive's employment, which commission has a material
               adverse effect on Hub International, (iii) the commission by the
               Executive of a criminal act of fraud, theft or dishonesty causing
               material damages to Hub International, (iv) the Executive's
               conviction of (or plead of nolo contendere to) any felony, or
               misdemeanor involving moral turpitude if such misdemeanor results
               in material financial harm to or materially adversely affects the
               goodwill of Hub International, (v) any breach by the Executive of
               the Confidentiality, Non-Solicitation and Insider Agreement of
               even date

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                                       -2-

               herewith, or (vi) such other act or omission that a court of
               competent jurisdiction declares in a written ruling to be a
               breach of the Executive's responsibilities hereunder of such
               materiality as to justify a termination of the Executive's
               employment by Hub International;

          (f)  "Confidentiality, Non-Solicitation and Insider Agreement" means
               the Executive Confidentiality, Non-Solicitation and Insider
               Agreement entered into by the parties hereto, of even date
               herewith;

          (g)  "Current Location" means Hub International's executive offices at
               55 East Jackson Boulevard, Chicago, Illinois;

          (h)  "Death" means a natural death and, in addition, is deemed to
               include a continuous period of at least ninety (90) consecutive
               business days during which time the Executive has not been in the
               offices of Hub International during normal working hours and the
               Executive's whereabouts are unknown to Hub International;

          (i)  "Disability" means the mental or physical state of the Executive
               is such that the Executive would qualify for disability benefits,
               in accordance with Hub International's group benefits insurance
               policy at the relevant time;

          (j)  "Good Reason" means (i) the breach of the terms of this Agreement
               by Hub International or any successor thereto, excluding any
               inadvertent breach that is rectified within a reasonable period
               of time under the circumstances; (ii) the direct or indirect
               assignment to the Executive of any duties or reporting
               responsibilities, materially inconsistent with the Services (as
               contemplated as of the date hereof or in any mutually-agreed
               written amendment hereto) (excluding any isolated and inadvertent
               assignment that is remedied by Hub International within thirty
               (30) days after receipt of notice from the Executive); (iii) a
               reduction in the Executive's Basic Compensation or a reduction in
               the Benefits that is not reimbursed; (iv) any failure by Hub
               International to require any successor (whether direct or
               indirect, by purchase, merger, consolidation or otherwise) to all
               or substantially all of the business and/or assets of Hub
               International to assume expressly and agree to perform the
               provisions of this Agreement in the same manner and to the same
               extent that Hub International would be required to perform if no
               such succession had taken place; (v) the failure by Hub
               International to continue to provide the Executive with the
               Benefits; (vi) the relocation of the Current Location to a
               location that is outside a thirty-five (35) mile radius of the
               Current Location, unless such new location is no further than the
               Current Location is from the Executive's then current residence.

          (k)  "Hub International" means Hub International Limited;

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                                      -3-

          (l)  "Restricted Stock Plan" means a restricted stock purchase plan
               that includes substantially the same terms as those set out in
               Schedule "D" attached hereto that is generally applicable to
               senior employees or consultants with companies of The Hub Group
               who are resident in the United States;

          (m)  "Schedule" means a schedule to this Agreement;

          (n)  "Section" means a section or subsection of this Agreement;

          (o)  "Services" means the duties and the responsibilities set out in
               Schedule "A", as the same may be amended or extended by mutual
               agreement of the parties from time to time;

          (p)  "Subsidiaries" means the "subsidiary companies," as defined in
               the Securities Act (Ontario), of Hub International;

          (q)  "The Hub Group" means Hub International and the Subsidiaries; and

          (r)  "Vacation" means the vacation to which Executive is entitled, as
               contemplated in Schedule "B".

     (2)  It is agreed by and between the parties hereto that the Schedules
          referred to herein, as itemized below and attached hereto, shall form
          a part of this Agreement and this Agreement shall be construed as
          incorporating such Schedules:

             Schedule "A"      -       Services
             Schedule "B"      -       Basic Compensation, Benefits and Vacation
             Schedule "C"      -       Alternative Dispute Resolution
             Schedule "D"      -       Restricted Stock Plan

2.   EMPLOYMENT

     (1)  Hub International agrees to employ the Executive for the purpose of
          providing the Services, and the Executive accepts such employment.

     (2)  During the term of the Executive's employment with Hub International,
          the Executive agrees to devote the whole of the Executive's business
          time and attention to the provision of the Services in a conscientious
          and competent manner and with the utmost integrity.

     (3)  The Executive shall perform the Services primarily at the Current
          Location. Subject to reimbursement for related expenses in accordance
          with Section 3(3) and subject to Section 4, it is understood and
          agreed that the Executive may be called upon, on occasion, to travel
          outside of the City of Chicago on behalf of Hub International, but
          that the Executive shall not be required to move his residence from
          the Chicago area as a condition of this Agreement.

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                                      -4-

3.   REMUNERATION AND BENEFITS

     (1)  Hub International shall pay the Executive the Basic Compensation and
          Benefits (as applicable) in such payment periods as are established
          from time to time by Hub International for its employees, subject to
          deduction and remittance to the appropriate governmental authority of
          all applicable taxes and other amounts.

     (2)  The Executive shall be entitled to and Hub International shall provide
          the Benefits.

     (3)  Hub International shall reimburse the Executive for reasonable travel
          and other business expenses incurred by the Executive in performing
          the Services, in accordance with approved budgets.

     (4)  The Executive shall be entitled to the Vacation, to be scheduled at
          the mutual convenience of the parties.

     (5)  The Executive shall be entitled to the rights set out in Schedule "D"
          in connection with the Restricted Stock Plan which Hub agrees to
          implement as soon as reasonably practicable having regard to all the
          circumstances, including the requirements of applicable law and any
          shareholder consent that may be required.

     (6)  The Executive shall be paid a Bonus, if any, in accordance with
          Schedule "B".

4.   TERM AND TERMINATION

     (1)  The parties acknowledge that the Executive has been employed by Hub
          International since the commencement date set out in Schedule "A" and
          agree that this Agreement codifies the existing arrangements regarding
          the Executive's employment.

     (2)  This Agreement and the employment of the Executive hereunder shall be
          for an indefinite term, subject to termination in accordance with the
          terms of this Agreement.

     (3)  This Agreement and the employment of the Executive may be terminated
          by Hub International for any reason whatsoever upon prior written
          notice to the Executive, or by the Executive for Good Reason upon
          written notice to Hub International, provided that, in the event that
          the Agreement is terminated in accordance with this Section 4(3), the
          Executive shall, subject to deduction and remittance to the
          appropriate governmental authority of all applicable taxes and other
          amounts, be paid:

          (a)  the Basic Compensation and entitled to receive the Benefits for
               the period up to the effective date of termination; and

          (b)  (i) an amount equal to twelve (12) months' Basic Compensation;
               (ii) a ratable portion, based on the days elapsed in the then
               current year to the effective date of termination, of an amount
               equal to the most recent prior Bonus paid to the Executive; and
               (iii) the value of the group insurance and automobile benefits or

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                                      -5-

               allowance components of the Benefits, all on a semi-monthly basis
               over the ensuing twelve (12) months,

          provided that in the event that the Executive breaches any of the
          provisions of the Confidentiality, Non-Solicitation and Insider
          Agreement, effective as at the date of such breach the Executive shall
          cease to be entitled to any further payment under Section 4(3)(b) or
          by way of any other damages, compensation or pay in lieu of notice;
          and provided further that in no event shall the Executive be paid an
          amount that is less than the prescribed minimum under applicable
          employment standards legislation.

     (4)  Notwithstanding Sections 4(2) and 4(3)(b), this Agreement may be
          terminated immediately by Hub International, for Cause, without
          further obligation to the Executive, provided that the Executive shall
          be entitled to receive an amount equal to the Basic Compensation and
          the Benefits to the date of termination.

     (5)  Notwithstanding Sections 4(2) and 4(3)(b), this Agreement may be
          terminated by Hub International on notice to the Executive due to the
          Disability of the Executive, upon ninety (90) days' written notice to
          the Executive, provided that the Executive shall be entitled to
          receive an amount equal to the Basic Compensation and the Benefits to
          the effective date of termination.

     (6)  Notwithstanding Section 4(2) and 4(3), this Agreement shall be
          terminated immediately upon the Death of the Executive or, unless
          otherwise agreed by the parties, upon the Executive's attaining
          sixty-five (65) years of age, provided that the Executive shall be
          entitled to receive an amount equal to the Basic Compensation and the
          Benefits to the effective date of termination.

     (7)  In the event of termination of this Agreement in accordance with the
          terms hereof, the provisions of the Confidentiality, Non-Solicitation
          and Insider Agreement shall continue in full force and effect.

5.   DISPUTE RESOLUTION

     Subject to, and without diminishing, the rights of the corporations of The
Hub Group to seek and obtain equitable relief in accordance with the provisions
of the Confidentiality, Non-Solicitation and Insider Agreement, the parties
agree to submit any disputes to mediation in accordance with the procedures set
out in Schedule "C".

6.   GENERAL PROVISIONS

     (1)  In the event any payment, distribution or other benefit received by
          the Executive under this Agreement or any other contract or
          arrangement (including, but not limited to, any acceleration of the
          ability to exercise any stock option or the vesting of any stock or
          other property or any payment made to the Executive in connection with
          a change of control of Hub International or any severance payment
          provided herein) (a "Payment") would be subject to the excise tax
          imposed by section 4999
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                                      -6-

          of the Internal Revenue Code of 1986 (such excise tax, together with
          any similar tax under any new or replacement provision to such Section
          4999, are hereinafter collectively referred to as the "Excise Tax"),
          including any payment, distribution or other benefit that when
          aggregated with any other payment, distribution or other benefit
          (whether or not such is received or made pursuant to this Agreement)
          results in the imposition of the Excise Tax, then the Executive shall
          be entitled to receive an additional payment (a "Gross-Up Payment") in
          an amount such that after payment by the Executive of all taxes,
          including without limitation, any Excise Tax or other tax imposed upon
          any amounts received under this Section 6(1), the Executive retains an
          amount of the Gross-Up Payment equal to the Excise Tax imposed upon
          the Payment. All determinations required to be made under this Section
          6(1), including whether and when a Gross-Up Payment is required and
          the amount of such Gross-Up Payment and the assumptions to be utilized
          in arriving at such determination, shall be made by Hub
          International's independent accounting firm which shall provide
          detailed supporting calculations both to Hub International and the
          Executive within fifteen (15) business days of the receipt of notice
          from the Executive that there has been or will be a Payment, or such
          earlier time as is requested by Hub International.

     (2)  The provisions hereof, when the context permits, shall enure to the
          benefit of and be binding upon the heirs, executors, administrators
          and legal personal representatives of the Executive and the successors
          and assigns of Hub International, respectively.

     (3)  This Agreement shall be construed in accordance with the laws of the
          State of Illinois.

     (4)  If any covenant or provision of this Agreement is determined to be
          void or unenforceable, in whole or in part, it shall not be deemed to
          affect or impair the validity of any other covenant or provision of
          this Agreement. However, if any of the provisions of or covenants
          contained in this Agreement are hereafter construed to be invalid or
          unenforceable in any jurisdiction, the same shall not affect the
          remainder of the provisions or the enforceability thereof in any
          jurisdiction, which shall be given full effect, without regard to the
          invalid portions or the unenforceability in such other jurisdiction.
          If any of the provisions of or covenants contained in the
          Confidentiality, Non-Solicitation and Insider Agreement are held to be
          unenforceable in any jurisdiction because of the duration or scope
          thereof, the parties agree that the court making such determinations
          shall have the power to reduce the duration and/or scope of such
          provision or covenant and, in its reduced form, said provision or
          covenant shall be enforceable; provided, however, that the
          determination of such court shall not affect the enforceability of the
          provisions of the Confidentiality, Non-Solicitation and Insider
          Agreement in any other jurisdiction.

     (5)  Any notice, demand, request, consent, approval or waiver required or
          permitted to be given hereunder shall be in writing and may be given
          to the party for whom it is intended by personally delivering it to
          such party or by mailing the same by prepaid registered mail:

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                                      -7-

          (a)  In the case of Hub International, to:

                  Hub International Limited
                  55 East Jackson Boulevard
                  Chicago, IL
                  60604

                  Attention:        General Counsel

          (b)  In the case of the Executive, to the Executive's last known
               address.

          Any such notice or other documents delivered personally shall be
          deemed to have been received by and given to the addressee on the day
          of delivery and any such notice or other documents mailed, as
          aforesaid, shall be deemed to have been received by and given to the
          addressee on the third (3rd) business day following the date of
          mailing. Any party may at any time give notice to the other of any
          change of address.

     (6)  All amounts referred to herein are in United States currency unless
          otherwise indicated.

     IN WITNESS THEREOF the parties hereto have hereunto executed this Agreement
as of the day and year first above written.

HUB INTERNATIONAL LIMITED
By:

/s/ Martin P. Hughes
------------------------------------
Name: Martin P. Hughes

Title: Chairman and Chief Executive Officer
I have authority to bind the corporation.

SIGNED AND DELIVERED in the presence of:        )
                                                )
/s/ W. Kirk James
-----------------------------------
(Signature)                                     )
                                                )
W. Kirk James                                   )       /s/ Richard A. Gulliver
-----------------------------------             )       -----------------------
(Print Name)                                    )       RICHARD A. GULLIVER
                                                )

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                                      -8-

                                  SCHEDULE "A"

                                COMMENCEMENT DATE

The Executive's employment with Hub International commenced on November 30,
1998. The parties agree that the Employment Agreement dated November 30, 1998
between the parties is terminated upon the date of this Agreement and is
hereafter superceded by this Agreement.

                                    SERVICES

The Executive shall report to the Board of Directors and the Chief Executive
Officer of Hub International. The Executive shall perform such reasonable duties
as shall assigned from time to time in connection with the Executive's position
as President and Chief Operating Officer of Hub International (the "Services").

<PAGE>

                                  SCHEDULE "B"

                               BASIC COMPENSATION

o    Annual salary of $300,000.00 (the "Basic Compensation")

                                      BONUS

o    The Executive shall be paid such annual bonus (the "Bonus"), if any, as may
     declared by Hub International's Compensation Committee (the "Compensation
     Committee") in its sole discretion, of an amount not to exceed $200,000.00.
     The Compensation Committee shall determine the amount of the Bonus, if any,
     taking into consideration not only the Executive's individual performance,
     but also Hub International's performance as a company relative to its
     growth and profitability targets for the applicable year. The Bonus, if
     any, shall be paid to the Executive on or before March 15 of the year
     immediately following the year in respect of which it is declared payable,
     subject to deduction and remittance to the appropriate governmental
     authority of all applicable taxes and other amounts. The Executive
     Committee may develop for the Executive such performance-based criteria as
     may be necessary and are reasonable to take into consideration in order to
     allow Hub International to deduct as an expense all remuneration, including
     any Bonus, paid to the Executive under this Agreement in the applicable
     year.

                                    BENEFITS

o    Group insurance (including medical, extended health, dental, short and long
     term disability and life insurance) and such other benefits as are made
     available to employees of Hub International, provided that the Executive
     qualifies for coverage under such plans.

o    Automobile allowance of $750.00 per month.

o    Matching contribution by Hub International on the Executive' behalf to Hub
     International's employee 401(k) retirement savings plan equal to 3% of the
     Executive's Basic Compensation, subject to applicable law.

                                    VACATION

The Executive shall be entitled to a maximum of four (4) weeks' vacation per
year to be scheduled at the mutual convenience of the parties (the "Vacation").

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                                      -10-

                                  SCHEDULE "C"

                         ALTERNATIVE DISPUTE RESOLUTION

o    Disputes will be submitted to mediation before a mediator in Chicago,
     Illinois, as a condition precedent to the initiation of litigation by any
     party to this Agreement; provided, however, that any party may seek
     injunctive relief in a court of competent jurisdiction to preserve the
     status quo pending the completion of mediation. The mediator shall be
     chosen by mutual agreement of the parties; provided, however, that if the
     parties are unable to agree upon a mediator within ten (10) days, they
     shall each, within the further period of five (5) days, choose a mediator
     and the two mediators shall choose, within the ensuing period of ten (10)
     days a separate and independent mediator who shall then serve as the sole
     mediator for the purposes of this Schedule "C". If either party fails to
     name a mediator within the further period of five (5) days aforesaid, the
     mediator chosen by the other party shall serve as the sole mediator for the
     purposes of this Schedule "C".

o    At such time as a dispute shall arise that is submitted to mediation, each
     of the parties shall execute such mediation agreement in such form as shall
     then be used by the chosen mediator or mediation firm for such purposes and
     shall join in a request that the mediator provide an evaluation of the
     parties' cases and of the likely resolution of the dispute if not settled.
     The cost of the mediator and mediation shall be borne equally by the
     parties.

o    In the event that one party to this Agreement is willing to accept the
     mediator's proposed resolution of the dispute, if any, but the other party
     (the "Contesting Party") is not so willing, the Contesting Party may elect
     to pursue a claim in a court of competent jurisdiction. In the event that
     the final determination of the rights of the Contesting Party by such court
     of competent jurisdiction is less advantageous to the Contesting Party than
     the mediator's proposed resolution of the dispute, the Contesting Party
     shall be deemed to have agreed to pay the other party's costs and expenses
     of litigation of such claim(s), including reasonable attorneys' fees.

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                                  SCHEDULE "D"

                              RESTRICTED STOCK PLAN

o    The Executive shall receive units (the "Units") allowing the Executive to
     acquire up to 35,817 common shares under the Restricted Stock Plan (the
     "Awarded Shares"), subject to the following terms:

     o    The terms of the Units (including number) shall be adjusted or
          modified, from time to time, to take into account any stock splits,
          stock dividends or other changes or adjustments occurring with respect
          to the common shares of Hub International.

     o    No payment of cash consideration will be required to acquire the
          Awarded Shares.

     o    Fifty percent (50%) of the Units shall be exercisable on the fifth
          (5th) anniversary of the commencement date set out in Schedule "A"
          (the "Commencement Date") and the remaining Units shall be exercisable
          on the tenth (10th) anniversary of the Commencement Date, provided
          that all unexercised Units shall immediately be exercisable upon
          normal retirement or upon termination without Cause or for Good
          Reason. Units will be exercisable pro rata in the event of Death or
          Disability (that is, at the rate of 10% per year). Subject to the
          foregoing, the Executive shall forfeit any unexercised Units in the
          event of Death or Disability or if the Executive's employment is
          terminated by Hub International for Cause or by the Executive without
          Good Reason.

o    The parties acknowledge that the Restricted Stock Plan is currently under
     design and, when in final form, may be subject to the approval of the
     shareholders of Hub International. Accordingly, the provisions of the
     Restricted Stock Plan and the Units may be modified from those set out
     above to accommodate applicable laws, regulatory requirements and tax
     considerations.

o    The parties acknowledge and agree that the Executive's loan in the
     principal amount of US$397,147.00 with Bank of Montreal related to the
     52,444 shares currently allocated to the Executive under Hub
     International's Executive Share Purchase Plan will be paid by Hub
     International provided that the Executive is continuously employed by Hub
     International for the period of ten (10) years from the Commencement Date.<PAGE>

                                                                    Exhibit 10.7

                   EXECUTIVE CONFIDENTIALITY, NON-SOLICITATION
                              AND INSIDER AGREEMENT

TO:  HUB INTERNATIONAL LIMITED AND ITS SUBSIDIARIES (collectively, "Hub
     International")
--------------------------------------------------------------------------------

     WHEREAS:

     A.   the undersigned (the "Executive") and Hub International have entered
          into an employment agreement dated as at the date hereof whereby Hub
          International employs the Executive (the "Employment Agreement"); and

     B.   the defined terms "Cause" and "Good Reason" used in this Agreement
          have the meanings given to them in the Employment Agreement;

          NOW THEREFORE for good and valuable consideration, including the
          employment of the Executive by Hub International, the Executive agrees
          as follows:

     1.   PROPERTY. The Executive acknowledges and agrees that all books of
          business, policies of insurance, documents, computer records, vouchers
          and other books, papers and records connected with the business of Hub
          International, whether paid for, serviced or produced by the
          respective corporation of Hub International or not, are the property
          of the respective corporation and shall be at all times open to the
          respective corporation for the purposes of examination, and shall be
          turned over and surrendered to the respective corporation or its
          representatives upon the order of the respective corporation or on the
          termination of the Executive's relationship with Hub International for
          any reason whatsoever.

     2.   CONFIDENTIALITY. The Executive acknowledges that in the course of
          carrying out the Executive's duties to Hub International, the
          Executive will have access to and will be entrusted with confidential
          information concerning the business and corporate affairs of the
          corporations of Hub International and their clients ("Confidential
          Information"), including information pertaining to the respective
          corporation's relationships with insurance carriers and lenders,
          compensation structures, client underwriting and policy renewal
          information, internal accounting procedures, policies and information,
          unique insurance product features, insurance programs developed by the
          respective corporation (with or without the assistance of the
          Executive), marketing strategies, e-commerce strategies, personnel and
          training procedures. The term "Confidential Information" shall be
          deemed to include all such information that the Executive currently
          possesses as a result of the Executive's prior employment, if any, by
          any of the corporations of Hub International. The Executive agrees
          that all Confidential Information acquired by the Executive or
          disclosed to the Executive shall be held in the strictest confidence.
          The Executive shall not disclose any Confidential Information to any
          other person during the term of the Executive's relationship with Hub
          International or at any

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                                                                               2

          time thereafter without the prior written consent of the respective
          corporation, except as may be required for the Executive to fulfil the
          Executive's duties to Hub International or as may be required by law.
          Neither during the term of the Executive's relationship with Hub
          International nor at any time thereafter will the Executive make use
          of any Confidential Information for the Executive's own benefit or for
          the benefit of any other person or persons, firm, partnership,
          association or corporation other than Hub International, or assist
          others in so doing; provided that nothing herein shall prohibit the
          Executive from using Confidential Information that:

          (a)  was readily available to the public at the time such information
               was available to the Executive;

          (b)  became readily available to the public after the time such
               information was made available to the Executive other than
               through a breach of this Agreement;

          (c)  is lawfully and in good faith obtained by the Executive from an
               independent third party without a breach of obligations of
               confidentiality or of this Agreement; or

          (d)  is information and expertise that was known to the Executive
               prior to the date of this Agreement or any prior agreement of
               employment, services or confidentiality between the Executive and
               any of the corporations of Hub International.

          The Executive shall have the burden of proof in establishing that any
          item of Confidential Information falls within one of the foregoing
          exceptions.

          The Executive acknowledges and agrees that the disclosure of any
          Confidential Information to competitors of Hub International or to the
          general public may be highly detrimental to the business interests of
          Hub International. The Executive acknowledges and agrees that the
          right of Hub International to maintain Confidential Information as
          confidential constitutes a proprietary right that the respective
          corporation is entitled to protect. Unless otherwise agreed to by the
          respective corporation, all Confidential Information shall be and
          shall remain the sole and exclusive property of the respective
          corporation. The Executive shall return to Hub International,
          forthwith upon the effective date of termination of the Executive's
          relationship with Hub International for any reason whatsoever, all
          records of Confidential Information in the possession of the Executive
          which were acquired in connection with the Executive's employment by
          Hub International. The Executive agrees that in the event of any
          breach of this Section 2, and in addition to any other remedies
          available to Hub International at law or otherwise, Hub International
          Limited, either on its own behalf or on behalf of the other respective
          corporation(s) of Hub International, shall be entitled as a matter of
          right to apply to a court of competent jurisdiction for relief by way
          of injunction, restraining order, decree or otherwise as may be
          appropriate to ensure compliance by the Executive with the provisions
          of this Section 2.

     3.   NON-SOLICITATION

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                                                                               3

          (a)  The Executive agrees that the Executive will not, without the
               prior written consent of Hub International Limited, either during
               the term of the Executive's employment with Hub International or
               at any time within a period of two (2) years following the
               cessation thereof for any reason whatsoever (the "Restricted
               Period"), either individually, in partnership, jointly, or in
               conjunction with any other person or persons, firm, partnership,
               association, company, corporation or any other entity as
               principal, agent, employee, shareholder, or in any other capacity
               whatsoever, directly or indirectly, approach or solicit any
               client, employee or producer of Hub International except for the
               benefit of Hub International or attempt to direct any such
               client, Executive or producer away from Hub International.
               Without limiting the generality of the foregoing, the Executive
               shall not directly or indirectly approach or solicit any of the
               clients comprising the book of insurance business serviced by Hub
               International while the Executive is employed by Hub
               International for the purpose of selling insurance or consulting
               as to the purchase or sale of insurance during the Restricted
               Period, other than on behalf of Hub International.

          (b)  The Executive shall pay to Hub International a sum equal to two
               (2) times the annual commissions and fees generated by clients
               obtained by the Executive in violation of Section 3(a). For each
               such client, the annual commissions and fees shall be the greater
               of the amount generated in the year preceding and the amount
               generated in the year following the date upon which the client
               becomes a client of the competing business.

          (c)  The amount payable by the Executive under Section 3(b) shall be
               paid in cash and as soon as it is determinable and may be set off
               by Hub International against any amount owing or to become owing
               by any corporation of Hub International to the Executive. The
               Executive acknowledges that the said amount is a reasonable
               calculation of the respective corporation's liquidated damages
               given the interest of the respective corporation in maintaining
               its client base and the future profits which would be foregone by
               the corporation if the Executive violates the provisions of
               Section 3(a). The Executive further acknowledges that the payment
               by the Executive pursuant to Section 3(b) shall in no way limit
               the other remedies to which the respective corporation of Hub
               International may be entitled as a result of the Executive's
               breach of Section 3(a). Without limiting the generality of the
               foregoing, the Executive recognizes that a breach by the
               Executive of any of the covenants contained in Section 3(a) would
               result in damages to the respective corporation of Hub
               International on an ongoing basis and that Hub International may
               not be adequately compensated for such damages by the payment of
               the amounts contemplated in Section 3(b). The Executive agrees
               that in the event of any such breach, and in addition to any
               other remedies available to Hub International at law or
               otherwise, Hub International Limited, either on its own behalf or
               on behalf of the respective corporation(s) of Hub International,
               shall be entitled as a matter of right to apply to a court of
               competent jurisdiction for relief by way of injunction,
               restraining order, decree or otherwise as may be appropriate to
               ensure compliance by the Executive with the provisions of Section
               3(a).

     4.   NON-COMPETITION. The Executive covenants and agrees that the Executive
          will not, without the prior written consent of Hub International,
          during the Restricted Period, either individually, in partnership,
          jointly, or in conjunction with any other person or persons, firm,
          partnership, association, company, corporation or any other entity as

<PAGE>
                                                                               4

          principal, agent, employee, shareholder, or in any other capacity
          whatsoever carry on or be engaged in any aspect of the insurance
          agency business in the United States or Canada, or advise, lend money
          to, guarantee the debts or obligations of, or permit the Executive's
          name or any part thereof to be used or employed by any other person or
          persons, firm, partnership, association, company, corporation or any
          other entity engaged in any aspect of the insurance agency business in
          the United States or Canada. Notwithstanding the foregoing, the
          provisions of this Section 4 shall not:

          (a)  apply in the event that this Agreement is terminated by Hub
               International without Cause or by the Executive for Good Reason,
               including in accordance with Section 5(2) of the Employment
               Agreement; or

          (b)  prohibit the Executive from directly or indirectly owning up to
               10% of the issued capital stock of any public company the price
               of whose shares is quoted in a published newspaper of general
               circulation.

     5.   DISCLOSURE OF MATERIAL INFORMATION. The Executive acknowledges that
          common shares of Hub International Limited are traded on the Toronto
          Stock Exchange and that, subject to certain exceptions, as a publicly
          traded company Hub International Limited has an obligation not to
          disseminate material information related to the company unless
          disclosure of such information is made contemporaneously to the
          public. The Executive therefore agrees not to make any public
          disclosure of material information related to Hub International
          without the prior written consent of Hub International Limited. The
          Executive further acknowledges that unauthorized disclosure by the
          Executive of internal information relating to Hub International could
          result in liability under insider trading legislation for Hub
          International Limited and/or the Executive. Notwithstanding the
          foregoing, the Executive undertakes and agrees to disclose unpublished
          material information related to Hub International to the Executive's
          immediate supervisor, Hub International Limited's General Counsel or
          such other person of authority employed by Hub International Limited
          as may be appropriate under the circumstances, if the Executive has
          reason to believe that such information is not then known to the
          appropriate person(s) of authority employed by Hub International
          Limited who would, in the normal course, determine whether Hub
          International Limited must disclose such information to the public.

     6.   INSIDER TRADING. The Executive acknowledges that if the Executive is
          in possession of any material information that relates to Hub
          International that has not yet been made public, the Executive must
          refrain from trading in Hub International Limited's shares (buying or
          selling) until the material information has been made public and the
          Executive agrees to advise others to whom the Executive divulges
          unpublished material information that they have the same
          responsibility.

     7.   CODE OF ETHICS. The Executive acknowledges that the Executive has
          received, read and understands Hub International Limited's "Insider
          Trading Code of Ethics and Disclosure Requirements" and agrees to
          comply therewith.

     8.   GROUNDS FOR DISMISSAL. The Executive acknowledges and agrees that due
          to the significance of the matters addressed herein and the negative
          consequences that may follow a contravention of any of the terms
          hereof, a breach by the Executive of any of the Executive's
          obligations hereunder may result in the Executive's immediate

<PAGE>
                                                                               5

          dismissal and that such breach shall be deemed to be included in the
          definition of "Cause".

     9.   RESTRICTIONS NECESSARY. The Executive agrees that all restrictions in
          this Agreement are necessary and fundamental to the protection of the
          business of the corporations of Hub International and are reasonable.

     10.  ENFORCEABILITY. If any covenant or provision of this Agreement is
          determined to be void or unenforceable, in whole or in part, it shall
          not be deemed to affect or impair the validity of any other covenant
          or provision of this Agreement. If any of the provisions of or
          covenants contained in this Agreement are hereafter construed to be
          invalid or unenforceable in any jurisdiction, the same shall not
          affect the remainder of the provisions or the enforceability thereof
          in any jurisdiction, which shall be given full effect, without regard
          to the invalid portions or the unenforceability in such other
          jurisdiction. If any of the provisions of or covenants contained in
          this Agreement are held to be unenforceable in any jurisdiction
          because of the duration or scope thereof, the parties agree that the
          court making such determinations shall have the power to reduce the
          duration and/or scope of such provision or covenant and, in its
          reduced form, said provision or covenant shall be enforceable;
          provided, however, that the determination of such court shall not
          affect the enforceability of the provisions of this Agreement in any
          other jurisdiction.

     11.  GOVERNING LAW. This Agreement shall be interpreted in accordance with
          the laws of the State of Illinois.

..

          DATED this 19th day of March, 2001.

/s/ W. Kirk James                            /s/ Richard A. Gulliver
---------------------------------            ----------------------------------
WITNESS       SIGNATURE                      EXECUTIVE SIGNATURE

W. Kirk James                                Richard A. Gulliver
---------------------------------            ----------------------------------
PRINT WITNESS NAME                           PRINT EXECUTIVE NAME

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