Document:

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                                                                     Exhibit 4.7

                    MANAGEMENT AND EMPLOYEE SHAREHOLDERS' AND
                             SUBSCRIPTION AGREEMENT

                  MANAGEMENT AND EMPLOYEE SHAREHOLDERS' AND SUBSCRIPTION
AGREEMENT (the "AGREEMENT"), dated as of December 20, 1999, among TA I Limited,
a limited liability company organized under the laws of England and Wales (the
"COMPANY"), Mourant & Co. Trustees Limited, the Trustee of a trust organized by
the Company (the "TRINITY TRUSTEE"), and the individual (the "PURCHASER") who
has duly completed, executed and delivered the Master Subscription and
Acceptance Form, a copy of which is attached hereto as Annex I (the "MASTER
ACCEPTANCE FORM") and deemed to be a part hereof.

                              W I T N E S S E T H :
                               - - - - - - - - - -

                  WHEREAS, a number of key employees of the Company and its
subsidiaries and associated entities (collectively, "WILLIS") have previously
made investments in management ordinary shares, par value L0.10 per share, of
the Company (herein referred to as the "ORDINARY SHARES") pursuant to one or
more Management and Employee Shareholders' and Subscription Agreements;

                  WHEREAS, the Company has made available to the Purchaser, the
opportunity to subscribe for additional Ordinary Shares, or to subscribe for
Ordinary Shares for the first time, as the case may be;

                  WHEREAS, the Purchaser desires to subscribe for and purchase,
and the Company desires to sell to the Purchaser, the aggregate number of its
Ordinary Shares set forth by the Purchaser on the Master Acceptance Form (each a
"PURCHASED SHARE" and, collectively, the "PURCHASED SHARES") at the purchase
price per share of 200p (the "PER SHARE PURCHASE PRICE") and will receive a
certain number of (i) time options to purchase Ordinary Shares ("TIME OPTIONS")
and (ii) performance options to purchase Ordinary Shares ("PERFORMANCE OPTIONS",
and together with Time Options, "OPTIONS"), each pursuant to the terms of the
Amended and Restated 1998 Share Purchase and Option Plan for Key Employees of TA
I Limited (the "OPTION PLAN") and the "SHARE OPTION AGREEMENT" to be entered
into in connection herewith; and

                  WHEREAS, this Agreement is one of several other agreements
(the "OTHER MANAGEMENT AND EMPLOYEE SHAREHOLDERS' AGREEMENTS") which have been
previously, or which in the future will be, entered into among the Company, the
Trinity Trustee and other individuals who are or will be key employees and/or
managers and directors of the Company or one of its subsidiaries and Associated
Entities (collectively, the "OTHER MANAGEMENT AND EMPLOYEE SHAREHOLDERS").

                  NOW, THEREFORE, to implement the foregoing and in
consideration of the mutual agreements contained herein, the parties hereto
hereby agree as follows:

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1. PURCHASE AND SALE OF ORDINARY SHARES.

                  (a) PURCHASE OF ORDINARY SHARES. Subject to all of the terms
and conditions of this Agreement, the Purchaser hereby subscribes for and shall
purchase, and the Company shall issue and sell to the Purchaser, the Purchased
Shares at a purchase price equal to the Per Share Purchase Price at the Closing
provided for in Section 2(a) hereof. Notwithstanding anything in this Agreement
to the contrary, the Company shall have no obligation to issue and sell any
Ordinary Shares to (i) any person who will not be either an employee or a
manager or director of the Company or a direct or indirect subsidiary of the
Company or of an Associated Entity (and for this purpose with regard to
employees resident in the United Kingdom, the term "subsidiary" will have the
meaning given in Section 736 of the United Kingdom Companies Act 1985)
immediately following the Closing or (ii) any person who is a resident of a
jurisdiction in which the sale of Ordinary Shares to such person would
constitute a violation of the securities, "blue sky" or other laws of such
jurisdiction.

                  (b) CONSIDERATION. Subject to all of the terms and conditions
of this Agreement, the Purchaser shall deliver to the Company at the Closing (by
means of either an official bank check, a check drawn on a London clearing bank
or an electronic funds transfer), in pounds sterling, in an amount equal to the
Subscription Price set forth on Annex A hereto.

                  (c) EXECUTION OF DOCUMENTS. Notwithstanding anything to the
contrary in this Section 1, the Company shall not have any obligation to issue
any Purchased Shares unless and until the Company is satisfied, in its sole
discretion, that (i) the Purchaser has duly executed and delivered this
Agreement and (ii) payment of the Subscription Price is made in accordance with
the provisions of Section 1(b) above.

2. CLOSING.

                  (a) TIME AND PLACE. Except as otherwise mutually agreed by the
Company and the Purchaser, the closing (the "CLOSING") of the transaction
contemplated by this Agreement shall be held at the offices of the Company
Secretary, Ten Trinity Square, London EC3P 3AX, England on or about December 20,
1999 (the "CLOSING DATE").

                  (b) CLOSING. At the Closing, (I) the Company shall deliver to
the Trinity Trustee a stock certificate registered in the Purchaser's name and
representing the number of Purchased Shares subscribed for pursuant hereto,
which certificate shall bear the legends set forth in Section 3(b) (which
certificate will be held by the Trinity Trustee until the Purchaser no longer
has an actual or contingent obligation to transfer Purchased Shares under this
Agreement or any agreement referred to in this Agreement; the Trinity Trustee
will deliver the certificate to the Company on behalf of the Purchaser when the
Purchaser is required to do so under this Agreement or any agreement referred to
in this Agreement), and (II) the Purchaser shall deliver to the Company (by
means of either an official bank check, a check drawn on a London clearing bank
or an electronic funds transfer), in pounds sterling, in an amount equal to the
Subscription Price set forth on Annex A hereto.

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3. PURCHASER'S REPRESENTATIONS, WARRANTIES AND COVENANTS.

                  (a) The Purchaser agrees and acknowledges that the Purchaser
will not, directly or indirectly, offer, transfer, sell, assign, pledge,
hypothecate or otherwise dispose of (any such act being referred to herein as a
"TRANSFER") any Purchased Shares or, at the time of exercise, the Ordinary
Shares issuable upon exercise of the Options (the "OPTION SHARES" and,
collectively with the Purchased Shares, the "SHARES") unless such transfer
complies with Section 4 of this Agreement. If the Purchaser is an "AFFILIATE"
(as defined under Rule 405 of the rules and regulations promulgated under the
Act (as defined below) and as interpreted by the Board of Directors of the
Company (the "BOARD")) of the Company (an "AFFILIATE"), the Purchaser also
agrees and acknowledges that the Purchaser will not transfer any Shares unless:

                  (i) the transfer is pursuant to an effective registration
         statement under the Securities Act of 1933, as amended, and the rules
         and regulations in effect thereunder (the "ACT"), and in compliance
         with applicable provisions of U.S. state securities laws, OR

                  (ii) (A) counsel for the Purchaser (which counsel shall be
         reasonably acceptable to the Company) shall have furnished the Company
         with an opinion, satisfactory in form and substance to the Company,
         that no such registration is required because of the availability of an
         exemption from registration under the Act and (B) if the Purchaser is a
         citizen or resident of any country other than the United States, or the
         Purchaser desires to effect any transfer in any such country, counsel
         for the Purchaser (which counsel shall be reasonably satisfactory to
         the Company) shall have furnished the Company with an opinion or other
         advice reasonably satisfactory in form and substance to the Company to
         the effect that such transfer will comply with the securities laws of
         such jurisdiction.

Notwithstanding the foregoing, the Company acknowledges and agrees that any of
the following transfers are deemed to be in compliance with the Act and this
Agreement and no opinion of counsel is required in connection therewith: (x) a
transfer made pursuant to Section 5, 6 or 7 hereof, (y) a transfer upon the
death of the Purchaser to his or her executors, administrators, testamentary
trustees, legatees or beneficiaries (the "PURCHASER'S ESTATE") or a transfer to
the executors, administrators, testamentary trustees, legatees or beneficiaries
of a person who has become a holder of Shares in accordance with the terms of
this Agreement, provided that it is expressly understood that any such
transferee shall be bound by the provisions of this Agreement and the transferee
agrees in writing to be bound by the terms and conditions hereof and (z) a
transfer made after the Closing Date in compliance with the U.S. federal
securities laws and the securities laws of any other applicable jurisdiction to
a trust or custodianship the beneficiaries of which may include only the
Purchaser, his or her spouse or his or her lineal descendants (including
children by adoption and step children) (a "PURCHASER'S TRUST"), provided that
such transfer is made expressly subject to this Agreement and that the
transferee agrees in writing to be bound by the terms and conditions hereof.

                  (b) The certificate (or certificates) representing the
Shares shall bear the following legends:

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                  "THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE
                  TRANSFERRED, SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR
                  OTHERWISE DISPOSED OF UNLESS SUCH TRANSFER, SALE, ASSIGNMENT,
                  PLEDGE, HYPOTHECATION OR OTHER DISPOSITION COMPLIES WITH THE
                  PROVISIONS OF THE MANAGEMENT AND EMPLOYEE SHAREHOLDERS' AND
                  SUBSCRIPTION AGREEMENT DATED AS OF DECEMBER 20, 1999 AMONG TA
                  I LIMITED (THE "COMPANY"), MOURANT & CO. TRUSTEES LIMITED, THE
                  TRUSTEE OF A TRUST ORGANIZED BY THE COMPANY, AND THE PURCHASER
                  NAMED ON THE FACE HEREOF AND THE MEMORANDUM AND ARTICLES OF
                  ASSOCIATION OF THE COMPANY (COPIES OF WHICH ARE ON FILE WITH
                  THE SECRETARY OF THE COMPANY)."

                  and, for Georgia residents:

                  "THE SHARES HAVE BEEN ISSUED OR SOLD IN RELIANCE ON PARAGRAPH
                  (13) OF CODE SECTION 10-5-9 OF THE "GEORGIA SECURITIES ACT OF
                  1973," AND MAY NOT BE SOLD OR TRANSFERRED EXCEPT IN A
                  TRANSACTION WHICH IS EXEMPT UNDER SUCH ACT OR PURSUANT TO AN
                  EFFECTIVE REGISTRATION UNDER SUCH ACT."

                  and, for any offering of sale in Italy:

                  "THE SHARES MAY BE NOT OFFERED, SOLD OR DELIVERED IN THE
                  REPUBLIC OF ITALY UNLESS THE OFFER IS IN COMPLIANCE WITH THE
                  REQUIREMENTS OF LAW NO. 216 OF 7 JUNE 1974, AS AMENDED, OR
                  ARTICLE 94 AND ONWARDS OF LEGISLATIVE DECREE NO. 58 OF 24
                  FEBRUARY 1998, ITS FULL IMPLEMENTATION. IN PARTICULAR, THE
                  SHARES SHOULD BE OFFERED EXCLUSIVELY THROUGH PRIVATE PLACEMENT
                  IN ITALY AND MAY NOT BE OFFERED OR SOLD OR RESOLD TO THE
                  PUBLIC IN ITALY IN CIRCUMSTANCES WHICH WOULD QUALIFY SUCH
                  OFFER OR SALE AS A PUBLIC OFFER AS DEFINED UNDER ITALIAN LAW."

                  (c) The Purchaser acknowledges that the Purchaser has been
advised that: (i) a restrictive legend in the form heretofore set forth shall be
placed on the certificates representing the Shares and (ii) a notation shall be
made in the appropriate records of the Company indicating that the Shares are
subject to restrictions on transfer and appropriate stop-transfer restrictions
will be issued to the Company's transfer agent with respect to the Shares. If
the Purchaser is an Affiliate, the Purchaser also acknowledges that (1) the
Shares must be held indefinitely and the Purchaser must continue to bear the
economic risk of the investment in the Shares unless they are subsequently
registered under the Act or an exemption from such registration is available,
(2) when and if Shares may be disposed of without registration in reliance on
Rule 144 of the rules and regulations promulgated under the Act, such
disposition can be made only in limited amounts in accordance with the terms and
conditions of such Rule and (3) if the Rule 144 exemption is not available,
public sale without registration will require compliance with some

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other exemption under the Act. The Company acknowledges that a Purchaser who is
resident outside the United States may, subject to applicable law and the
restrictions on transfer set forth herein and in the Articles of Association of
the Company (the "ARTICLES"), transfer Shares outside the United States in
accordance with Regulation S under the Act.

                  (d) If any Shares are to be transferred in accordance with
Rule 144 or Regulation S under the Act or otherwise, the Purchaser shall
promptly notify the Company of such intended transfer and shall deliver to the
Company at or prior to the time of such transfer such documentation as the
Company may reasonably request in connection with such transfer and, in the case
of a transfer pursuant to Rule 144, shall deliver to the Company an executed
copy of any notice on Form 144 (or any successor form) required to be filed with
the Securities and Exchange Commission (the "SEC").

                  (e) The Purchaser agrees that, if any voting or non-voting
ordinary shares of the Company (together, the "COMMON SHARES") are offered to
the public pursuant to an effective registration statement under the Act (other
than registration of securities issued under an employee plan) and/or pursuant
to a floatation on the London Stock Exchange or other underwritten offering
outside the United States, the Purchaser will not effect any public sale or
distribution of any Ordinary Shares not covered by such registration statement
from the time of the receipt of a notice from the Company that the Company has
filed or imminently intends to file such registration statement or to commence
such floatation to, or within 180 days after, the effective date of such
registration statement or the completion of such floatation, unless otherwise
agreed to in writing by the Company.

                  (f) The Purchaser represents and warrants that (i) the
Purchaser has received and reviewed (a) the prospectus relating to the offer by
Willis Corroon Corporation to exchange all of its 9% Senior Subordinated Notes
due 2009 for its 9% Senior Subordinated Notes due 2009 that have been registered
under the Securities Act of 1933, (b) the 1998 year-end accounts of TA I
Limited, (c) the June 30, 1999 six-month accounts of TA I Limited, (d) the
Articles, (e) the Option Plan, (f) the Share Option Agreement, (g) the Sale
Participation Agreement, (h) the Registration Rights Agreement and (i) this
Agreement, certain of which documents set forth the rights, preferences, and
restrictions relating to the Shares, (ii) the Purchaser has been given the
opportunity to obtain any additional information or documents and to ask
questions and receive answers about such information, the Company and its
subsidiaries and Associated Entities and the business and prospects of the
Company and its subsidiaries and Associated Entities which the Purchaser deems
necessary to evaluate the merits and risks related to the Purchaser's investment
in the Shares and to verify the information received as indicated in this
Section 3(f), and he or she has relied solely on such information.

                  (g) The Purchaser further represents and warrants that (i) the
Purchaser's financial condition is such that the Purchaser can afford to bear
the economic risk of holding the Shares for an indefinite period of time and has
adequate means for providing for the Purchaser's current needs and personal
contingencies, (ii) the Purchaser can afford to suffer a complete loss of his or
her investment in the Shares, (iii) the Purchaser understands and has taken
cognizance of all risk factors related to the purchase of the Shares, (iv) the
Purchaser's knowledge and experience in financial and business matters are such
that the Purchaser is capable of evaluating the merits and risks of the
Purchaser's purchase of the Shares as contemplated by this Agreement

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or, in the alternative, the Purchaser has obtained such professional advice as
the Purchaser determined was necessary to enable the Purchaser to evaluate such
merits and risks and (v) the Purchaser is an employee and/or a manager of the
Company or one of its subsidiaries or Associated Entities.

4. RESTRICTION ON TRANSFER. Except for transfers permitted by clauses (x), (y)
and (z) of Section 3(a) or sales of Shares pursuant to an effective registration
statement under the Act filed by the Company as contemplated by Section 10
hereof or pursuant to the Sale Participation Agreement, the Purchaser agrees
that the Purchaser will not transfer any Shares at any time prior to the sixth
anniversary of the Closing Date. No transfer of any such shares in violation
hereof shall be made or recorded on the books of the Company and any such
transfer shall be void and of no effect. The Articles require the Directors of
the Company to refuse to register a transfer attempted to be made in violation
of the terms hereof.

5. RIGHT OF FIRST REFUSAL. If, at any time after the sixth anniversary of the
Closing Date and prior to a Public Offering (as hereinafter defined), the
Purchaser receives a bona fide offer to purchase any or all of the Purchaser's
Shares (the "OFFER") from a third party (the "OFFEROR") which the Purchaser
wishes to accept, the Purchaser shall cause the Offer to be reduced to writing
and shall notify the Company in writing of the Purchaser's wish to accept the
Offer. The Purchaser's notice shall contain an irrevocable offer to sell such
Shares to the Trinity Trustee (in the manner set forth below) at a purchase
price equal to the price contained in, and on the same terms and conditions of,
the Offer, and shall be accompanied by a copy of the Offer (which shall identify
the Offeror). The Company shall forward such notice to the Trinity Trustee
within seven days of its receipt by the Company. At any time within 20 days
after the date of the receipt by the Trinity Trustee of the Purchaser's notice,
the Trinity Trustee shall have the right and option to purchase, or to arrange
for a third party to purchase, all of the Shares covered by the Offer either (i)
at the same price and on the same terms and conditions as the Offer or (ii) if
the Offer includes any consideration other than cash, then at the sole option of
the Trinity Trustee, at the equivalent all cash price, determined in good faith
by the Trinity Trustee, by delivering a certified bank check or checks in the
appropriate amount (and any such non-cash consideration to be paid) to the
Purchaser at the principal office of the Company against delivery of
certificates or other instruments representing the Shares so purchased (and such
other documents as the Trinity Trustee may reasonably require), appropriately
endorsed by the Purchaser. If at the end of such 20 day period, the Trinity
Trustee has not tendered the purchase price for such shares in the manner set
forth above, the Purchaser may during the succeeding 20 day period sell not less
than all of the Shares covered by the Offer to the Offeror at a price and on
terms no less favorable to the Purchaser than those contained in the Offer.
Promptly after such sale, the Purchaser shall notify the Company of the
consummation thereof and shall furnish such evidence of the completion and time
of completion of such sale and of the terms thereof as may reasonably be
requested by the Company. If, at the end of 20 days following the expiration of
the 20 day period for the Trinity Trustee to purchase the Shares, the Purchaser
has not completed the sale of such Shares as aforesaid, all the restrictions on
sale, transfer or assignment contained in this Agreement shall again be in
effect with respect to such Shares.

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6. PURCHASER'S SALE OF SHARES TO THE TRINITY TRUSTEE AND PURCHASER'S SALE OF
OPTIONS TO THE COMPANY UPON THE PURCHASER'S DEATH OR DISABILITY. (a) Except as
otherwise provided herein, if, prior to the sixth anniversary of the Closing
Date, (x)(i) the Purchaser is still in the employ of, or still acts in a
managerial or directorial capacity in respect of, the Company or any subsidiary
or Associated Entity of the Company or (ii) the Purchaser has retired from the
Company or one of its subsidiaries or Associated Entities at age 65 or over (or
such other age as applies in the applicable jurisdiction or with respect to
certain classes of Purchasers pursuant to an existing, written Willis policy or
employment agreement, or as may be approved by the Board) after having been
employed by or having acted in a managerial or directorial capacity for the
Company or any subsidiary or Associated Entity of the Company for at least three
years after the Closing Date (retirement in such circumstances is referred to as
a "QUALIFIED RETIREMENT") and (y) the Purchaser either dies or becomes
"PERMANENTLY DISABLED" (as defined herein), then the Purchaser, the Purchaser's
Estate or a Purchaser's Trust (each, a "PURCHASER ENTITY"), shall, for twelve
(12) months following the date of death or permanent disability, have the right:

                  (A) with respect to the Shares, to sell to the Trinity
Trustee, and the Trinity Trustee shall be required to purchase, on one occasion,
all or any portion of the Shares then held by each of the applicable Purchaser
Entities, at the Section 6(a) Repurchase Price, as determined in accordance with
Section 8 hereof; and

                  (B) with respect to the exercisable Options, to require the
Company to pay to the applicable Purchaser Entities an additional amount equal
to the Option Excess Price (as defined in Section 9(b)), if any, as provided in
Section 9(b)(ii); PROVIDED, HOWEVER, that if the Purchaser is resident in the
United Kingdom for purposes of U.K. national insurance regulations, then the
Purchaser Entities shall not be entitled to receive the Option Excess Price with
respect to exercisable Options but shall instead be required to exercise their
exercisable Options in order to be entitled to receive payment for the Option
Shares issued in respect thereof upon purchase by the Trinity Trustee of such
Option Shares pursuant to the preceding clause (A). Notwithstanding anything to
the contrary provided herein, all Options will vest and become exercisable upon
the Purchaser's death or permanent disability only if such death or disability
occurs while the Purchaser is employed by the Company or a subsidiary thereof.
Options will be automatically terminated as set forth in Section 9(b)(i).

         (b) In the event the applicable Purchaser Entities intend to exercise
their rights pursuant to Section 6(a), such Purchaser Entities shall send a
single, combined written notice to the Company of their intention to sell Shares
in exchange for the payment referred in Section 6(a)(A) and/or to terminate such
Options in exchange for the payment referred to in Section 6(a)(B) and shall
indicate the number of Shares to be sold and the number of Options to be
terminated with payment in respect thereof (the "REDEMPTION NOTICE"). The
completion of the purchase shall take place at the principal office of the
Company on the tenth business day after the giving of the Redemption Notice to
the Trinity Trustee by the Company. The applicable Repurchase Price and any
payment with respect to the Options as described above shall be paid by delivery
to the applicable Purchaser Entities, of a certified bank check or checks in the
appropriate amount payable to the order of each of the applicable Purchaser
Entities, against delivery of certificates or other instruments representing the
Shares so purchased and appropriate documents cancelling the Options so
terminated (or such other documents as the Trinity Trustee

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may reasonably require) appropriately endorsed or executed by the applicable
Purchaser Entities or any duly authorized representative.

         (c) Notwithstanding anything in Section 6(a) to the contrary and
subject to Section 11(a), if the Trinity Trustee requires financing from the
Company in order to make any payment contemplated by this Section 6 and if the
Company fails to provide financing on limited recourse terms reasonably
acceptable to the Trinity Trustee or if there exists and is continuing a default
or an event of default on the part of the Company or any subsidiary of the
Company under any loan, guarantee or other agreement under which the Company or
any subsidiary of the Company has borrowed money or if the purchase by the
Trinity Trustee or the Company, as the case may be, referred to in Section 6(a)
or the loan of funds to the Trinity Trustee by the Company on limited recourse
terms satisfactory to the Trinity Trustee would result in a default or an event
of default on the part of the Trinity Trustee, the Company or any subsidiary of
the Company under any such agreement or if a purchase by the Trinity Trustee or
the Company or the loan of funds to the Trinity Trustee by the Company on
limited recourse terms satisfactory to the Trinity Trustee would not be
permitted by law (each such occurrence being an "EVENT"), then the Trinity
Trustee shall not be obligated to purchase any of the Shares, and the Company
shall not be obligated to purchase any of the Options (or to pay any applicable
Option Excess Price in respect of such Options), from the applicable Purchaser
Entities until the first business day which is 10 calendar days after all of the
foregoing Events have ceased to exist (the "REPURCHASE ELIGIBILITY DATE");
PROVIDED, HOWEVER, that (i) the number of Shares subject to purchase under this
Section 6(c) shall be that number of Shares, and (ii) in the case of a purchase
pursuant to Section 6(a), the number of Exercisable Option Shares (as defined in
Section 9) for purposes of calculating the Option Excess Price payable under
this Section 6(c) shall be the number of Exercisable Option Shares, specified in
the Redemption Notice and held by the applicable Purchaser Entities, at the time
of delivery of a Redemption Notice in accordance with Section 6(b) hereof;
PROVIDED, FURTHER, that the Repurchase Calculation Date (as defined below) shall
be determined in accordance with Section 8 as of the Repurchase Eligibility Date
(unless, in a repurchase pursuant to Section 6(a), the Section 6(a) Repurchase
Price would be greater if the Repurchase Calculation Date had been determined as
if no Event had occurred in which case, solely for purposes of this PROVISO, the
Repurchase Calculation Date shall be determined as if no Event had occurred).
All Options exercisable as of the date of a Redemption Notice, in the case of a
purchase pursuant to Section 6(a), shall continue to be exercisable until the
purchase of such Options pursuant to such Redemption Notice, provided that to
the extent any Options are exercised after the date of such Redemption Notice,
the number of Exercisable Option Shares for purposes of calculating the Option
Excess Price shall be reduced (and the number of Option Shares to be purchased
in connection with such additional exercise of Options shall be correspondingly
increased) accordingly.

7. THE TRINITY TRUSTEE'S OPTION TO PURCHASE SHARES AND THE COMPANY'S OPTION TO
PURCHASE OPTIONS OF PURCHASER. (a) If, prior to the sixth anniversary of the
Closing Date, (i) the Purchaser's employment with and/or managerial or
directorial activities in favor of the Company or any subsidiary or Associated
Entity of the Company are terminated by the Company (or such subsidiary or
Associated Entity) with Cause (as defined in Section 8(f) below), (ii) the
beneficiaries of a Purchaser's Trust shall include any person or entity other
than the Purchaser, his or her spouse or his or her lineal descendants
(including children by adoption and step children), or (iii) the Purchaser shall
transfer or attempt to effect a transfer of any of the Shares

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other than as permitted in this Agreement (each, a "SECTION 7(a) CALL EVENT"),
then:

                  (A) the Trinity Trustee shall have the right, with respect to
the Shares, to purchase all or any portion of the Shares then held by the
applicable Purchaser Entities at the Section 7(a) Repurchase Price determined in
accordance with Section 8 hereof; and

                  (B) with respect to the Options, if the Trinity Trustee
exercises the call rights granted under this Section 7(a), all Options (whether
or not then exercisable) held by the applicable Purchaser Entities will
terminate immediately without payment in respect thereof.

         (b) If, prior to the sixth anniversary of the Closing Date, (i) the
Purchaser's employment with and/or managerial or directorial activities in favor
of the Company or any subsidiary or Associated Entity of the Company are
terminated as a result of the death or permanent disability of the Purchaser or
(ii) if the Purchaser dies or becomes permanently disabled after the Qualified
Retirement of the Purchaser from the Company or any of its subsidiaries or
Associated Entities or (iii) the Purchaser's employment and/or managerial or
directorial activities are terminated as a result of the Qualified Retirement of
the Purchaser from the Company or any of its subsidiaries or Associated Entities
(each a "SECTION 7(b) CALL EVENT"), then:

                  (A) the Trinity Trustee shall have the right, with respect to
the Shares, to purchase all or any portion of the Shares then held by the
applicable Purchaser Entities at the Section 6(a) Repurchase Price determined in
accordance with Section 8 hereof; and

                  (B) with respect to the Options, if the Trinity Trustee
exercises the call rights granted under this Section 7(b), all or any portion of
the exercisable Options shall automatically terminate upon payment by the
Company of an amount equal to the Option Excess Price, if any, as provided in
Section 9(b)(ii); provided, however, that if the Purchaser is resident in the
United Kingdom for purposes of U.K. national insurance regulations, then the
Purchaser Entities shall not be entitled to receive the Option Excess Price with
respect to exercisable Options but shall instead be required to exercise their
exercisable Options in order to be entitled to receive payment for the Option
Shares issued in respect thereof upon purchase by the Trinity Trustee of such
Option Shares pursuant to the preceding clause (A); all other Options will be
dealt with in accordance with the terms of Section 9(b)(i)(A) hereof.

         (c) If, prior to the sixth anniversary of the Closing Date, the
Purchaser's employment with and/or managerial or directorial activities in favor
of the Company or any subsidiary or Associated Entity of the Company are
terminated (i) by the Purchaser with Good Reason or (ii) by the Company (or such
subsidiary or Associated Entity) without Cause (each, a "SECTION 7(c) CALL
EVENT"), then:

                  (A) the Trinity Trustee shall have the right, with respect to
the Shares, to purchase all or any portion of the Shares then held by the
applicable Purchaser Entities at the Section 7(c) Repurchase Price determined in
accordance with Section 8 hereof; and

                  (B) with respect to the Options, if the Trinity Trustee
exercises the call rights granted under this Section 7(c), all or any portion of
the exercisable Options shall

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automatically terminate upon payment by the Company of an amount equal to the
Option Excess Price, if any, as provided in Section 9(b)(iii); provided,
however, that if the Purchaser is resident in the United Kingdom for purposes of
U.K. national insurance regulations, then the Purchaser Entities shall not be
entitled to receive the Option Excess Price with respect to exercisable Options
but shall instead be required to exercise their exercisable Options in order to
be entitled to receive payment for the Option Shares issued in respect thereof
upon purchase by the Trinity Trustee of such Option Shares pursuant to the
preceding clause (A); all other outstanding Options will be dealt with in
accordance with the terms of Section 9(b)(i)(B) hereof.

         (d) If, prior to the sixth anniversary of the Closing Date, the
Purchaser's employment with and/or managerial or directorial activities in favor
of the Company or any subsidiary or Associated Entity are terminated by the
Purchaser without Good Reason (as defined below) (a "SECTION 7(d) CALL EVENT"),
then:

                  (i) the Trinity Trustee shall have the right, with respect to
the Shares, to purchase all or any portion of the Shares then held by the
applicable Purchaser Entities at the Section 7(d) Repurchase Price determined in
accordance with Section 8 hereof; and

                  (ii) with respect to the Options, if the Trinity Trustee
exercises the call rights granted under this Section 7(d), all or any portion of
the exercisable Options shall automatically terminate upon payment by the
Company of an amount equal to the Option Excess Price, if any, as provided in
Section 9(b)(iv); provided, however, that if the Purchaser is resident in the
United Kingdom for purposes of U.K. national insurance regulations, then the
Purchaser Entities shall not be entitled to receive the Option Excess Price with
respect to exercisable Options but shall instead be required to exercise their
exercisable Options in order to be entitled to receive payment for the Option
Shares issued in respect thereof upon purchase by the Trinity Trustee of such
Option Shares pursuant to the preceding clause (i); all other outstanding
Options will be dealt with in accordance with the terms of Section 9(b)(i)(B)
hereof.

         (e) The Trinity Trustee shall have a period of (i) twelve (12) months
from the date of a Section 7(b) Call Event and (ii) sixty (60) days from the
date of any other Call Event (or, if later, with respect to a Section 7(a) Call
Event, the date of discovery of an impermissible transfer constituting a Section
7(a) Call Event), in which to give notice in writing to the Purchaser of its
election to exercise its rights pursuant to this Section 7 ("CALL NOTICE"). The
completion of the purchases pursuant to the foregoing shall take place at the
principal office of the Company on the tenth business day after the giving of
the Call Notice. The applicable Repurchase Price and any payment with respect to
the Options as described in this Section 7 shall be paid by delivery to the
applicable Purchaser Entities of a certified bank check or checks (or through
effecting an electronic funds transfer) in the appropriate amount payable to the
order of each applicable Purchaser Entity against delivery of a share transfer
form and certificates or other instruments representing the Shares so purchased
and appropriate documents cancelling the Options so terminated, appropriately
endorsed or executed by the applicable Purchaser Entity or its authorized
representative.

         (f) Notwithstanding any other provision of this Section 7 to the
contrary and subject to Section 11(a), if there exists and is continuing any
Event, the Trinity Trustee or the Company, as the case may be, shall delay the
purchase of any of the Shares or the Options (or

                                       10

<PAGE>

the payment of the applicable Option Excess Price in respect of such Options)
(pursuant to a Call Notice timely given in accordance with Section 7(e) hereof)
from the applicable Purchaser Entities until the Repurchase Eligibility Date;
PROVIDED, HOWEVER, that (i) the number of Shares subject to purchase under this
Section 7 shall be that number of Shares, and (ii) in the case of a purchase
pursuant to Section 7(b), 7(c) or 7(d), the number of Exercisable Option Shares
for purposes of calculating the Option Excess Price payable under this Section 7
shall be the number of Exercisable Option Shares, held by the applicable
Purchaser Entities at the time of delivery of a Call Notice in accordance with
Section 7(e) hereof; and PROVIDED, FURTHER, that the Repurchase Calculation Date
shall be determined in accordance with Section 8 based on the Repurchase
Eligibility Date (unless (x) in the case of a Section 7(b) Call Event or a
Section 7(c) Call Event, the applicable Repurchase Price would be greater if the
Repurchase Calculation Date had been determined as if no Event had occurred, in
which case the Repurchase Calculation Date shall be determined as if no Event
had occurred, and (y) in the case of a Section 7(a) Call Event or a Section 7(d)
Call Event, the applicable Repurchase Price would be less if the Repurchase
Calculation Date had been determined as if no Event had occurred, in which case
the Repurchase Calculation Date shall be determined as if no Event had
occurred); and PROVIDED, FURTHER, that such delay shall in no event exceed
twelve months. All Options exercisable as of the date of a Call Notice, in the
case of a purchase pursuant to Section 7(b) or 7(c), shall continue to be
exercisable until the purchase of such Options pursuant to such Call Notice,
provided that to the extent that any Options are exercised after the date of
such Call Notice, the number of Exercisable Option Shares for purposes of
calculating the Option Excess Price shall be reduced (and the number of Option
Shares to be purchased in connection with such additional exercise of Options
shall be correspondingly increased) accordingly.

         (g) Section 7(a) Call Events, Section 7(b) Call Events, Section 7(c)
Call Events, and Section 7(d) Call Events shall be collectively referred to as
"CALL EVENTS."

8. DETERMINATION OF REPURCHASE PRICE. (a) The Section 6(a) Repurchase Price,
Section 7(a) Repurchase Price, Section 7(c) Repurchase Price and the Section
7(d) Repurchase Price are hereinafter collectively referred to as the
"REPURCHASE PRICE". The Repurchase Price shall be calculated as of the last day
of the month preceding the later of (i) the month in which the event giving rise
to the repurchase occurs and (ii) the month in which the Repurchase Eligibility
Date occurs (hereinafter called the "REPURCHASE CALCULATION DATE"). The event
giving rise to the repurchase shall be the death, permanent disability,
retirement or termination of employment or managerial or directorial activities,
as the case may be, of the Purchaser, not the giving of any notice required
pursuant to Section 6 or 7.

         (b) The Section 6(a) Repurchase Price shall be a per share Repurchase
Price equal to the Fair Market Value Per Share (as defined in Section 8(g)) as
of the Repurchase Calculation Date.

         (c) The Section 7(a) Repurchase Price shall be a per share Repurchase
Price equal to the lesser of (i) the Per Share Purchase Price and (ii) Fair
Market Value Per Share as of the Repurchase Calculation Date (but shall not be
less than zero); EXCEPT, HOWEVER, if the Purchaser is chargeable in the United
Kingdom under Case 1 of Schedule E as of the date hereof, then the Section 7(a)
Repurchase Price with respect to Shares other than Option Shares shall be a per
share Repurchase Price equal to Tax Fair Market Value Per Share.

                                       11

<PAGE>

         (d) The Section 7(c) Repurchase Price shall be a per share Repurchase
Price (i) with respect to all Shares other than Option Shares, equal to the Fair
Market Value Per Share and (ii) with respect to all Option Shares, equal to the
Book Value Per Share, in each case as of the Repurchase Calculation Date.

         (e) The Section 7(d) Repurchase Price shall be a per share Repurchase
Price (i) with respect to all Shares other than Option Shares, (A) if the Fair
Market Value Per Share is less than the Per Share Purchase Price, the Fair
Market Value Per Share, or (B) if the Per Share Purchase Price is less than the
Fair Market Value Per Share, the Per Share Purchase Price PLUS, (in the case of
(B) only) (1) the Applicable Percentage MULTIPLIED by (2) the excess of the Fair
Market Value Per Share over the Per Share Purchase Price, and (ii) with respect
to all Option Shares, (A) if the Book Value Per Share is less than the Per Share
Purchase Price, the Book Value Per Share, or (B) if the Per Share Purchase Price
is less than the Book Value Per Share, the Per Share Purchase Price PLUS (in the
case of (B) only) (1) the Applicable Percentage MULTIPLIED by (2) the excess, if
any, of Book Value Per Share over the Per Share Purchase Price; EXCEPT, HOWEVER,
that if the Purchaser is chargeable in the United Kingdom under Case 1 of
Schedule E as of the date hereof, then the Section 7(d) Repurchase Price with
respect to all Shares other than Option Shares shall be equal to the Tax Fair
Market Value Per Share. The "APPLICABLE PERCENTAGE" shall mean zero prior to the
second anniversary of the Closing Date, twenty percent (20%) during the period
commencing on the second anniversary of the Closing Date, forty percent (40%)
during the period commencing on the third anniversary of the Closing Date, sixty
percent (60%) during the period commencing on the fourth anniversary of Closing
Date, eighty percent (80%) during the period commencing on the fifth anniversary
of Closing Date, and on and after the sixth anniversary of the Closing Date, one
hundred percent (100%).

         (f) For purposes of this Agreement the following definitions shall
apply: "CAUSE" shall mean (i) the Purchaser's willful and continued failure to
perform Purchaser's material duties with respect to the Company or any
subsidiary or Associated Entity of the Company after reasonable notice and an
opportunity by the Purchaser to cure such conduct within 10 days after the
Purchaser's receipt of such notice, (ii) willful misconduct by the Purchaser in
connection with the Purchaser's employment or managerial or directorial duties
which is injurious to the Company or any subsidiary or Associated Entity of the
Company, (iii) conviction for any criminal act (other than road traffic
violations not involving imprisonment), or (iv) any breach by the Purchaser of
the provisions of Section 16 hereof or of any other non-compete agreement and/or
confidentiality agreement entered into between the Purchaser and the Company or
any subsidiary or Associated Entity of the Company (other than an insubstantial,
inadvertent, and non-recurring breach) or (v) any material violation of any
written Willis policy after reasonable notice and an opportunity to cure within
10 days of the Purchaser's receipt of such notice; "GOOD REASON" shall mean (i)
a reduction in the Purchaser's base salary or a material adverse reduction in
the Purchaser's benefits (other than (a) in the case of base salary, a reduction
that is offset by an increase in the Purchaser's bonus opportunity upon the
attainment of reasonable performance targets established by the Board, or (b) a
general reduction in the compensation or benefits of, or a shift in the general
compensation or benefits schemes affecting a broad group of, employees of the
Company or any of its subsidiaries or Associated Entities), (ii) a material
adverse reduction in Purchaser's principal duties and responsibilities, which
continues beyond 10 days after written notice by the Purchaser to the Company
(or, as the case

                                       12

<PAGE>

may be, a subsidiary or Associated Entity) of such reduction or (iii) a
significant transfer of the Purchaser away from the Purchaser's primary service
area or primary workplace, other than as permitted by the Purchaser's existing
service contracts; PROVIDED, HOWEVER, that a Purchaser shall have a period of 10
days following any of the foregoing occurrences, or the last event in a series
of events which culminates in providing the basis for such notice, during which
such Purchaser may claim that a basis for a Good Reason termination by the
Purchaser has occurred. For avoidance of doubt, neither the Company nor any
subsidiary nor Associated Entity shall be deemed to have terminated any
Purchaser without Cause unless the Company or any such subsidiary or Associated
Entity has served a formal termination notice on such employee.

         (g) As used herein, "FAIR MARKET VALUE PER SHARE" shall mean (i)
following a Public Offering, Market Price Per Share (as defined below), or (ii)
prior to a Public Offering, the fair market value per Common Share, as
determined no less than annually (or more frequently if the Board so determines)
in good faith by the Board, after it has taken into consideration certain
factors (including, without limitation, the general condition of the Company's
industry, the historical performance of the Company, and the Company's financial
and business prospects) and after it has consulted with an independent
investment banking firm selected with the consent of the Group Executive
Committee, such consent not to be unreasonably withheld. In addition, after
determining the Fair Market Value Per Share, except for purposes of determining
Tax Fair Market Value Per Share, the value of an individual Purchaser's Shares
on a per share basis shall not be reduced to reflect the illiquidity or minority
nature associated with such Purchaser's Shares or the fact that such Purchaser's
Shares are non-voting. "TAX FAIR MARKET VALUE PER SHARE" shall mean while the
shares are unquoted on a U.S. national securities exchange or the London Stock
Exchange, Fair Market Value Per Share adjusted by the Board to reflect the
illiquidity and minority nature associated with such Purchaser's Shares, which
valuation shall be determined in accordance with Section 273 of the U.K.
Taxation of Chargeable Gains Act 1992 and is expected to consist of a discount
to Fair Market Value Per Share presumed to be at least 35%; the Board may, but
shall not be required to, consult with any investment banking firm concerning
the appropriate size of any such discount. When the Shares are quoted on a U.S.
national securities exchange or the London Stock Exchange, "Tax Fair Market
Value Per Share" shall be determined in accordance with Section 272 of the U.K.
Taxation of Chargeable Gains Act 1992.

         (h) As used herein, "BOOK VALUE PER SHARE" shall mean (i) after a
Public Offering (as defined below), Market Price Per Share, or (ii) prior to a
Public Offering, the quotient of (a) (i) the aggregate amount invested in the
Company for Common Shares by Profit Sharing, the management of the Company and
its subsidiaries and Associated Entities (including any "roll-over" amounts
invested by management pursuant to the Willis Corroon Group Executive Deferred
Incentive Plan, the Willis Corroon Group Restricted Share Plan and the Willis
Corroon North American Restricted Share Plan), insurance company investors, and
other individuals or entities resulting in the acquisition of 100% of the
Company, PLUS (ii) the aggregate consolidated profit and loss (after taxes,
minority interests, and dividends), of the Company from and after the formation
of the Company, PLUS (iii) the aggregate amount contributed to (or credited to
shareholders' equity of) the Company after the Closing Date as equity of the
Company (including consideration to be received upon exercise of Options and
other share equivalents), PLUS (iv) the aggregate amount of any dividends
accrued on preference shares converted into Common Shares, PLUS or MINUS (v)
other adjustments for certain unusual or

                                       13

<PAGE>

other items recognized by the Company in the sole discretion of the Board,
DIVIDED BY (b) the sum of the number of Common Shares then outstanding and the
number of Common Shares issuable upon the exercise of all outstanding Options
and other rights to acquire Common Shares and the conversion of all securities
convertible into Common Shares. The items referred to in the calculations set
forth in clauses (a)(ii) through (b) of the immediately preceding sentence shall
be determined in good faith, and to the extent possible, in accordance with U.K.
generally accepted accounting principles applied on a basis consistent with any
prior periods as reflected in the consolidated financial statements of the
Company.

         (i) As used herein the term "PUBLIC OFFERING" shall mean the sale of
Common Shares to the public subsequent to the date hereof pursuant to a
registration statement under the Act which has been declared effective by the
SEC (other than a registration statement on Form S-8 or any other similar form)
or a public listing in the U.K., in either case, which results in an active
trading market in at least 35% of the issued and outstanding Common Shares. A
"QUALIFIED PUBLIC OFFERING" shall mean any offering of Common Shares to the
public pursuant to an effective registration statement and such registration
statement includes the sale of Common Shares held by Profit Sharing or its
affiliates.

         (j) As used herein, the term "MARKET PRICE PER SHARE" shall mean the
price per share equal to the average of the last sale price of the Common Shares
on each of the ten trading days prior to the Repurchase Calculation Date on each
exchange on which the Common Shares may at the time be listed or, if there shall
have been no sales on such exchange on any such trading day, the average of the
closing bid and asked prices on such exchange at the end of such trading day or
if there is no such bid and asked price on the next preceding date when such bid
and asked price occurred or, if the Common Shares shall not be so listed, the
average of the closing sales prices as reported by NASDAQ at the end of the
Repurchase Calculation Date in the over-the-counter market.

         (k) In determining the Repurchase Price, appropriate adjustments shall
be made for any stock dividends, splits, combinations, recapitalizations or any
other adjustment in the number of outstanding Common Shares in order to
maintain, as nearly as practicable, the intended operation of the provisions of
this Section 8.

9. SHARES ISSUED TO PURCHASER UPON EXERCISE OF OPTIONS; TERMINATION AND
EXPIRATION OF OPTIONS. (a) Options are subject to the terms of the Option Plan,
Stock Option Agreement and the terms set forth herein.

         (b) (i) (A) In the case of an exercise of the put rights described
above in Section 6(a)(B) or of the call rights described above in Section
7(b)(B), all outstanding exercisable Options that had been granted to the
Purchaser under any Option Plan for which such put or call is exercised will be
automatically terminated upon the payment by the Company to the Purchaser of an
amount equal to the applicable Option Excess Price, as provided below or, in the
case of a Purchaser that is resident in the United Kingdom for purposes of U.K.
national insurance regulations, then all exercisable Options, if not then
exercised, shall be automatically terminated upon payment by the Trinity Trustee
for the Shares (including Option Shares) of the amounts contemplated by Sections
6(a) or 7(b), as the case may be, PROVIDED, HOWEVER, in the event the Option
Excess Price is zero or a negative number, all outstanding exercisable Options

                                       14

<PAGE>

granted to the Purchaser (including any Purchaser resident in the United
Kingdom) under any Option Plan shall remain outstanding and exercisable until
expiration in accordance with the terms of such Option Plan. All outstanding
unexercisable Options shall be automatically terminated without any payment in
respect thereof.

         (B) In the case of an exercise of call rights described above in
Sections 7(c)(B) or 7(d)(ii), all outstanding exercisable Options for which such
call is exercised that had been granted to the Purchaser under any Option Plan
will be automatically terminated upon the payment by the Company to the
Purchaser of an amount equal to the applicable Option Excess Price, as provided
below or, in the case of a Purchaser that is resident in the United Kingdom for
purposes of U.K. national insurance regulations, then all exercisable Options,
if not then exercised, shall be automatically terminated upon payment by the
Trinity Trustee for the Shares (including Option Shares) of the amounts
contemplated by Sections 7(c) or 7(d), as the case may be; PROVIDED, HOWEVER, in
the event the applicable Option Excess Price of any Option is less than the
Option Exercise Price, such Option shall be automatically terminated without any
payment in respect thereof. All outstanding unexercisable Options shall be
automatically terminated without any payment in respect thereof.

                  (ii) In the case of an exercise of the put rights described
above in Section 6(a)(B) or of the call rights described above in Section
7(b)(B), with respect to each Option, the "OPTION EXCESS PRICE" is the excess,
if any, of the Section 6(a) Repurchase Price over the Option Exercise Price (as
defined below), MULTIPLIED by the number of Exercisable Option Shares
thereunder.

                  (iii) In the case of an exercise of the call rights described
above in Section 7(c), with respect to each Option, the "OPTION EXCESS PRICE" is
the excess, if any, of the Section 7(c) Repurchase Price applicable to Option
Shares over the Option Exercise Price, MULTIPLIED by the number of Exercisable
Option Shares thereunder.

                  (iv) In the case of an exercise of the call rights described
above in Section 7(d), with respect to each Option, the "OPTION EXCESS PRICE" is
the excess, if any, of the Section 7(d) Purchase Price applicable to Option
Shares over the Option Exercise Price, MULTIPLIED by the number of exercisable
Option Shares thereunder.

         For purposes hereof, "OPTION EXERCISE PRICE" shall mean the exercise
price of the Ordinary Shares covered by the applicable Option, and "EXERCISABLE
OPTION SHARES" shall mean the Ordinary Shares which, at the time of
determination of the Option Excess Price, could be purchased by the Purchaser
upon exercise of his or her outstanding Options.

                                       15

<PAGE>

10. "PIGGYBACK" REGISTRATION RIGHTS. (a) Effective upon the date of this
Agreement, until the later of (i) six years from the Closing Date and (ii) the
first occurrence of (x) a Qualified Public Offering or (y) the existence of an
active trading market in 35% or more of the Common Shares, the Purchaser hereby
agrees to be bound by all of the terms, conditions and obligations of the
Registration Rights Agreement, dated as of December 18, 1998, between the
Company and Profit Sharing (the "REGISTRATION RIGHTS AGREEMENT"), and, in the
case of a Qualified Public Offering, and only in the case of a Qualified Public
Offering, and subject to the limitations set forth in this Section 10, shall
have all of the rights, privileges and obligations of the Registration Rights
Agreement, in each case as if the Purchaser were an original party (other than
the Company) thereto; PROVIDED, HOWEVER, that at no time shall the Purchaser
have any rights to request registration under Section 3 of the Registration
Rights Agreement or be deemed to be a "Demand Party" for any purpose or in any
circumstance; and PROVIDED FURTHER, that the Purchaser shall not be bound by any
amendments to the Registration Rights Agreement that adversely affects their
rights in any way unless the Purchaser consents thereto provided that such
consent will not be unreasonably withheld. Notwithstanding anything to the
contrary contained in the Registration Rights Agreement, the Purchaser's rights
and obligations under the Registration Rights Agreement shall be subject to the
limitations and additional obligations set forth in this Section 10. All Shares
purchased or held by the Purchaser (or by a Purchaser Entity) pursuant to this
Agreement shall be deemed to be Registrable Securities as defined in the
Registration Rights Agreement.

         (b) The Company will promptly notify the Purchaser in writing (a
"NOTICE") of any proposed registration (a "PROPOSED REGISTRATION") in connection
with a Qualified Public Offering. If within 15 days of the receipt by the
Purchaser of such Notice, the Company receives from the applicable Purchaser
Entities a written request (a "REQUEST") to register Shares held by the
applicable Purchaser Entities (which Request will be irrevocable unless
otherwise mutually agreed to in writing by the Purchaser and the Company),
Shares will be so registered as provided in this Section 10; PROVIDED, HOWEVER,
that for each such registration statement only one Request, which shall be
executed by the applicable Purchaser Entities, may be submitted for all
Registrable Securities held by the applicable Purchaser Entities.

         (c) The maximum number of Ordinary Shares which will be registered
pursuant to a Request will be the lowest of (i) (A) the number of Shares then
held by the Purchaser, including all Shares which the Purchaser Entities are
then entitled to acquire under an unexercised Option to the extent then
exercisable multiplied by (B) a fraction, the numerator of which is the number
of Common Shares being sold by Profit Sharing and investment partnerships and
investment limited liability companies affiliated with Kohlberg Kravis Roberts &
Co. L.P. ("KKR") and the denominator of which is the number of Common Shares
owned by Profit Sharing and investment partnerships and investment limited
liability companies affiliated with KKR, (ii) the maximum number of Shares which
the Company can register in the Proposed Registration without adverse effect on
the offering in the view of the managing underwriters (reduced pro rata with all
Other Management and Employee Shareholders) as more fully described in
subsection (d) of this Section 10 or (iii) the maximum number of Ordinary Shares
which the Purchaser (pro rata based upon the aggregate number of Ordinary Shares
the Purchaser and all Other Management and Employee Shareholders have requested
to be registered) and all Other Management and Employee Shareholders are
permitted to register under the Registration Rights Agreement.

                                       16

<PAGE>

         (d) If a Proposed Registration involves an underwritten offering and
the managing underwriter advises the Company in writing that, in its opinion,
the number of Common Shares requested to be included in the Proposed
Registration exceeds the number which can be sold in such offering, so as to be
likely to have an adverse effect on the price, timing or distribution of the
Common Shares offered in such Qualified Public Offering as contemplated by the
Company, then the Company will include in the Proposed Registration (i) first,
either (x) 100% of the Common Shares the Company proposes to sell or (y) in the
case of a registration request by a "DEMAND PARTY" pursuant to (and as defined
in) Section 3 of the Registration Rights Agreement by and among certain
insurance carriers or their affiliates and the Company dated as of July 22,
1998, and as such agreement may be amended from time to time (the "CARRIER
REGISTRATION RIGHTS AGREEMENT"), 100% of the "REGISTRABLE SECURITIES" of the
requesting "HOLDERS" as contemplated by (and as defined in) Section 3 of the
Carrier Registration Rights Agreement and, in either event, (ii) second, to the
extent of the number of Common Shares requested to be included in such
registration which, in the opinion of such managing underwriter, can be sold
without having the adverse effect referred to above, the number of Common Shares
which the "HOLDERS" and "OTHER HOLDERS" (as defined in the Registration Rights
Agreement), including, without limitation, the Purchaser and Other Management
and Employee Shareholders have requested to be included in the Proposed
Registration, such amount to be allocated pro rata among all requesting Holders
and Other Holders on the basis of the relative number of Common Shares then held
by each such Holder and Other Holder (provided that any shares thereby allocated
to any such Holder that exceed such Holder's request will be reallocated among
the remaining requesting Holders in like manner).

         (e) Upon delivering a Request the Purchaser will, if requested by the
Company, execute and deliver a custody agreement and power of attorney in form
and substance satisfactory to the Company with respect to the Shares to be
registered pursuant to this Section 10 (a "CUSTODY AGREEMENT AND POWER OF
ATTORNEY"). The Custody Agreement and Power of Attorney will provide, among
other things, that the Purchaser will deliver to and deposit in custody with the
custodian and attorney-in-fact named therein a certificate or certificates
representing such Shares (duly endorsed in blank by the registered owner or
owners thereof or accompanied by duly executed stock powers in blank) and
irrevocably appoint said custodian and attorney-in-fact as the Purchaser's agent
and attorney-in-fact with full power and authority to act under the Custody
Agreement and Power of Attorney on the Purchaser's behalf with respect to the
matters specified therein.

         (f) The Purchaser agrees that he or she will execute such other
agreements as the Company may reasonably request to further evidence the
provisions of this Section 10.

                                       17

<PAGE>

11. PRO RATA REPURCHASES; DIVIDENDS. (a) Notwithstanding anything to the
contrary contained in Section 6, 7 or 8, if at any time consummation of all
purchases and payments to be made by the Trinity Trustee or the Company, as the
case may be, pursuant to this Agreement and the Other Management and Employee
Shareholders' Agreements would result in an Event, then the Trinity Trustee or
the Company, as the case may be, shall first make purchases from, and payments
to, any Purchaser's Estate and the estate of any Other Management and Employee
Shareholders who have died or become permanently disabled while employed (and/or
while acting in a managerial or directorial capacity) or following Qualified
Retirement pro rata and, second, to any other Purchaser and Other Management and
Employee Shareholders pro rata (in each case, on the basis of the proportion of
the number of Shares and the number of Options each such Purchaser's Estate and
such other estates, and each Purchaser and all Other Employee Shareholders, as
the case may be, have elected or are required to sell to the Trinity Trustee or
the Company, as the case may be) for the maximum number of Shares and shall pay
the Option Excess Price for the maximum number of Options permitted without
resulting in an Event (the "MAXIMUM REPURCHASE AMOUNT"). The provisions of
Section 6(c) and 7(f) shall apply in their entirety to payments and repurchases
with respect to Options and Shares which may not be made due to the limits
imposed by the Maximum Repurchase Amount under this Section 11(a). Until all of
such Shares and Options are purchased and paid for by the Trinity Trustee or the
Company, as the case may be, the Purchaser and the Other Management and Employee
Shareholders whose Shares and Options are not purchased in accordance with this
Section 11(a) shall have priority, on a pro rata basis, over other purchases of
Ordinary Shares and Options by the Trinity Trustee or the Company, as the case
may be, pursuant to this Agreement and Other Management and Employee
Shareholders' Agreements.

         (b) No dividends on the Ordinary Shares are expected to be paid by the
Company prior to a Public Offering. In the event any dividends are paid with
respect to the Ordinary Shares, the Purchaser will be treated in the same manner
as all other shareholders with respect to Ordinary Shares then owned by the
Purchaser.

12. RIGHTS TO NEGOTIATE PURCHASE PRICE. Nothing in this Agreement shall be
deemed to restrict or prohibit the Trinity Trustee or the Company, as the case
may be, from purchasing Shares or Options from the Purchaser at any time, upon
such terms and conditions, and for such price, as may be mutually agreed upon
between the parties, whether or not at the time of such purchase circumstances
exist which specifically grant the Trinity Trustee the right to purchase, or the
Purchaser the right to sell, Shares or the Company has the right to pay, or the
Purchaser has the right to receive, the Option Excess Price under the terms of
this Agreement.

13. ASSIGNABILITY OF CERTAIN RIGHTS BY THE TRINITY TRUSTEE. The Trinity Trustee
shall have the right to assign any or all of its rights or obligations to
purchase Shares pursuant to Sections 5, 6 and 7 hereof to the Company or Profit
Sharing or an affiliate of Profit Sharing.

                                       18

<PAGE>

14. BOARD DISCRETION. In the event a Purchaser's employment and/or managerial or
directorial duties are terminated or, in the event a Purchaser experiences a
personal or financial hardship, the Board may, in its sole discretion, determine
to apply more favorable terms to such Purchaser's Shares and Options than those
established in this Agreement, and the relevant member of the Group Executive
Committee may recommend to the Board that more favorable terms be applied. In
addition, in the event of a sale or other disposition of any subsidiary,
Associated Entity, division or business by the Company (or any of its
subsidiaries), the Board shall, in its sole discretion, determine whether a
termination of employment of a Purchaser has occurred for purposes of this
Agreement and the conditions applicable to such termination, after consideration
of any recommendation by the Group Executive Committee.

15. REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE TRINITY TRUSTEE. The
Company represents and warrants to the Purchaser that (A) this Agreement has
been duly authorized, executed and delivered by the Company and constitutes a
valid and legally binding obligation of the Company enforceable against the
Company in accordance with its terms, and (B) the Shares, when issued, delivered
and paid for in accordance with the terms hereof, will be duly and validly
issued, fully paid and nonassessable. The Trinity Trustee represents and
warrants to the Purchaser that this Agreement has been duly authorized, executed
and delivered by the Trinity Trustee and constitutes a valid and legally binding
obligation of the Trinity Trustee enforceable against the Trinity Trustee in
accordance with its terms.

16. COVENANT NOT TO COMPETE; SEVERANCE; CONFIDENTIAL INFORMATION. In
consideration of the Company entering into this Agreement with the Purchaser,
the Purchaser hereby agrees effective as of the Closing Date, without the
Company's prior written consent, the Purchaser shall not (i) directly or
indirectly, at any time during or after the Purchaser's employment with the
Company, a subsidiary or an Associated Entity, disclose any Confidential
Information (as defined below) and shall use his or her best efforts to prevent
the taking or disclosure of any Confidential Information pertaining to the
business of the Company or any of its subsidiaries or Associated Entities,
except when required by law; or (ii) unless the Purchaser and the Company (or
any of its subsidiaries or Associated Entities) are already party to a valid and
enforceable agreement which provides for a covenant not to compete (in which
case such agreement shall control), at any time during the Purchaser's
employment with the Company or a subsidiary or Associated Entity and for twelve
months thereafter, directly or indirectly (A) be engaged in or have financial
interest (other than an ownership position of less than 5% in any company whose
shares are publicly traded or any non-voting non-convertible debt securities in
any company) in any business in Competition (as defined below) with the
Restricted Group (as defined below) or (B) solicit, accept or perform, other
than on the Restricted Group's behalf, insurance or bond brokerage, agency, risk
management, claims administration, self-insurance, consulting or other business
performed by the Restricted Group for any client with whom the Purchaser has had
business dealings, or any prospective client from whom the Purchaser has
participated in soliciting business, in either case within the last 12 months of
the Purchaser's employment with the Company, a subsidiary or an Associated
Entity; PROVIDED, HOWEVER, that the Company may, at its option, pay the
Purchaser (if the Purchaser is subject to clause (ii) above) severance payments
in consideration for extending this restrictive covenant for an additional
twelve months; PROVIDED, FURTHER, that the Company may, at its option, require
the Purchaser (if the Purchaser is subject to clause (ii) above) to be on paid
leave for the entire or any portion of the foregoing 24 month period. As used in
this Agreement, the term "CONFIDENTIAL INFORMATION"

                                       19

<PAGE>

means all non-public information concerning the financial data, strategic
business plans, and other non-public, proprietary, and confidential information
of the Company or any of its subsidiaries or affiliated entities (the
"RESTRICTED GROUP") as in existence during the Purchaser's employment with, or
performance of managerial or directorial duties for, the Company (and/or a
subsidiary or Associated Entity) and as of the date of any termination of such
employment or the performance of such duties. As used in this Agreement, and
except as otherwise defined in a valid and enforceable agreement between the
Purchaser and the Company or a subsidiary or Associated Entity, a business shall
be in "COMPETITION" if it is principally engaged in any business active in the
insurance or surety or fidelity bond brokerage, agency, risk management, claims
administration, self-insurance, risk management consulting or other business
performed by the Company, a subsidiary or Associated Entity or if it is a
business in which any of the Company, a subsidiary or an Associated Entity has
taken steps toward engaging. This Section 16 shall not apply to a Purchaser who
is a UK or Irish employee. Any such Purchaser will, if so informed by the
Company, be required to enter into separate confidentiality and post employment
restraints as a condition of the Purchase of any Shares. A Purchaser shall be
considered a UK or Irish employee if and for so long as: (a) the contract of
employment of the Purchaser is with Willis Group or any of its UK or Irish
subsidiaries and the Purchaser ordinarily works in Great Britain or Ireland and
any work he or she may do outside Great Britain or Ireland is for the same
employer; or (b) the law which governs the Purchaser's contract of employment is
the law of England and Wales, the law of Scotland or the law of Ireland.

17. COVENANT REGARDING 83(b) ELECTION. Except as the Company may otherwise agree
in writing, the Purchaser hereby covenants and agrees that, if the Purchaser is
a U.S. taxpayer, he or she will make an election provided pursuant to Treasury
Regulation 1.83-2 with respect to the Shares, including without limitation, the
Shares to be acquired pursuant to Section 1 and the Shares to be acquired upon
each exercise of the Purchaser's Options; and the Purchaser further covenants
and agrees, if the Purchaser is a U.S. taxpayer, that he or she will furnish the
Company with copies of the forms of election the Purchaser files within 30 days
after the date hereof, and within 30 days after each exercise of Purchaser's
Options and with evidence that each such election has been filed in a timely
manner.

18. NOTICE OF CHANGE OF BENEFICIARY. Immediately prior to any transfer of Shares
to a Purchaser's Trust, the Purchaser shall provide the Company with a copy of
the instruments creating the Purchaser's Trust and with the identity of the
beneficiaries of the Purchaser's Trust. The Purchaser shall notify the Company
as soon as practicable prior to any change in the identity of any beneficiary of
the Purchaser's Trust.

19. EXPIRATION OF CERTAIN PROVISIONS. The provisions contained in Sections 5, 6
and 7 of this Agreement and the portion of any other provision of this Agreement
which incorporates the provisions of Sections 5, 6 and 7, shall terminate and be
of no further force or effect with respect to any Shares sold by the Purchaser
(i) pursuant to an effective registration statement filed by the Company
pursuant to Section 10 hereof or (ii) pursuant to the terms of the Sale
Participation Agreement of even date herewith between the Purchaser and Profit
Sharing.

         The provisions contained in Sections 4, 5, 6, 7 and 17 of this
Agreement, and the portion of any other provisions of this Agreement which
incorporate the provisions of such

                                       20

<PAGE>

Sections, shall terminate and be of no further force or effect upon a "CHANGE OF
CONTROL", as defined in the Option Plan.

         Except as set for the above, such provisions shall not terminate in the
event of any public offering or stock exchange listing of Common Shares.

20. RECAPITALIZATIONS, ETC. The provisions of this Agreement shall apply, to the
full extent set forth herein with respect to the Shares or the Options, to any
and all shares of capital stock of the Company or any capital stock, partnership
units or any other security evidencing ownership interests in any successor or
assign of the Company (whether by merger, consolidation, sale of assets or
otherwise) which may be issued in respect of, in exchange for, or substitution
of the Shares or the Options, by reason of any stock dividend, split, reverse
split, bonus issue, combination, recapitalization, liquidation,
reclassification, merger, consolidation or otherwise, with appropriate
adjustments to per share repurchase prices, as may be determined in good faith
by the Board of Directors in a manner consistent with any adjustments to the
Options.

21. U.S. STATE SECURITIES LAWS. The Company hereby agrees to use its reasonable
best efforts to comply with all U.S. state securities or "blue sky" laws which
might be applicable to the sale of the Shares and the issuance of the Options to
the Purchaser.

22. BINDING EFFECT. The provisions of this Agreement shall be binding upon and
accrue to the benefit of the parties hereto and their respective heirs, legal
representatives, successors and assigns. In the case of a transferee permitted
under Section 3(a) hereof, such transferee shall be deemed the Purchaser
hereunder; provided, however, that no transferee (including without limitation,
transferees referred to in Section 3(a) hereof) shall derive any rights under
this Agreement unless and until such transferee has delivered to the Company a
valid undertaking and becomes bound by the terms of this Agreement.

23. AMENDMENT. This Agreement may be amended only by a written instrument signed
by the Parties hereto.

24. NOTICES. All notices and other communications required or permitted to be
given under this Agreement shall be in writing and shall be deemed to have been
given if delivered personally or sent by certified or express mail, return
receipt requested, postage prepaid, or by any recognized international
equivalent of such mail delivery, to the Company, Profit Sharing or the
Purchaser, as the case may be, at the following addresses or to such other
address as the Company, Profit Sharing or the Purchaser, as the case may be,
shall specify by notice to the others:

                 (i)           (a) if to the Company, to it at:

                      TA I Limited
                      Ten Trinity Square
                      London  EC3P 3AX
                      England
                      ATTENTION:  Company Secretary

                                       21

<PAGE>

                      with a copy to

                      Mourant & Co. Trustees Limited
                      22 Grenville Street
                      St. Helier
                      Jersey JE4 8PX
                      Channel Islands
                      ATTENTION:  Sarah Rayson

                      (b) if to the Trinity Trustee, to it at the address above,
                      with a copy to the Company, at the address above.

         In the case of a notice delivered pursuant to (a) or (b) above, a copy
         shall be sent to

                      Kohlberg Kravis Roberts & Co.
                      9 West 57th Street
                      Suite 4200
                      New York, New York 10019
                      ATTENTION:  Perry Golkin

                      and to

                      Simpson Thacher & Bartlett
                      99 Bishopsgate
                      London EC2M 3YH
                      England
                      ATTENTION:  Gregory W. Conway

                      and to

                      Clifford Chance
                      200 Aldersgate Street
                      London EC1A 4JJ
                      England
                      ATTENTION:  Daniel Kossoff and Robin Tremaine

         (ii) if to the Purchaser, to the Purchaser at the address set forth on
Annex A hereto.

All such notices and communications shall be deemed to have been received on the
date of delivery or on the third business day after the mailing thereof.

                                       22

<PAGE>

25. APPLICABLE LAW; SUBMISSION TO JURISDICTION. This Agreement and the rights
and duties of the parties hereunder shall be governed by and construed in
accordance with the laws of the State of New York. Any suit, action or
proceeding against the Purchaser with respect to this Agreement, or any judgment
entered by any court in respect of any thereof, may be brought (i) with respect
to any Purchaser who is a resident of the United States of America, in any court
of competent jurisdiction in the State of New York or located in the City of New
York, as the Company may elect in its sole discretion or (ii) with respect to
any other Purchaser, in any court of competent jurisdiction in England and
Wales, as the Company may elect in its sole discretion and the Purchaser hereby
submits accordingly to the nonexclusive jurisdiction of such courts for the
purpose of any such suit, action, proceeding or judgment. By the execution and
delivery of this Agreement, the Purchaser irrevocably appoints CT Corporation
System, at its office at 1633 Broadway, New York, New York or Willis Group
Limited, at its registered office for the time being, as the case may be, as his
or her agent upon which process may be served in any such suit, action or
proceeding. Service of process upon such agent, together with notice of such
service given to the Purchaser in the manner provided in Section 24 hereof shall
be deemed in every respect effective service of process upon him or her in any
suit, action or proceeding. Nothing herein shall in any way be deemed to limit
the ability of the Company or the Trinity Trustee to serve any such writs,
process or summonses in any other manner permitted by applicable law or to
obtain jurisdiction over the Purchaser, in such other jurisdictions, and in such
manner, as may be permitted by applicable law. The Purchaser hereby irrevocably
waives any objections which he or she may now or hereafter have to the laying of
the venue of any suit, action or proceeding arising out of or relating to this
Agreement brought in any court of competent jurisdiction in the State of New
York, if the Purchaser is a resident of the United States, or in England and
Wales, if the Purchaser is a resident of any other jurisdiction, and hereby
further irrevocably waives any claim that any such suit, action or proceeding
brought in any such court has been brought in any inconvenient forum. No suit,
action or proceeding against the Company or the Trinity Trustee with respect to
this Agreement may be brought in any court, domestic or foreign, or before any
similar domestic or foreign authority other than in a court of competent
jurisdiction in the State of New York or in England or Wales, and the Purchaser
hereby irrevocably waives any right which he or she may otherwise have had to
bring such an action in any other court, domestic or foreign, or before any
similar domestic or foreign authority. The Company and the Trinity Trustee each
hereby submits accordingly to the jurisdiction of such courts for the purpose of
any such suit, action or proceeding.

26. SECTION AND OTHER HEADINGS, ETC. The section and other headings contained in
this Agreement are for reference purposes only and shall not affect the meaning
or interpretation of this Agreement.

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

                                       23

<PAGE>

                  IN WITNESS WHEREOF, the Company, the Trinity Trustee and, upon
due execution and delivery of the Master Acceptance Form, the Purchaser have
executed this Agreement, as of the date set forth above.

                                   TA I LIMITED

                                   By: /s/ Michael Chitty
                                      --------------------------------
                                      Name:  Michael Chitty
                                      Title: Corporate Secretary

                                   MOURANT & CO. TRUSTEES LIMITED

                                   By: /s/ James David Philippe Crill
                                      ---------------------------------
                                      Name:  James David Philippe Crill
                                      Title:

                                       24<PAGE>

                                                                     EXHIBIT 4.8

                                GLOBAL AMENDMENT
                                     TO THE
                      EQUITY PARTICIPATION PLAN AGREEMENTS
                                       OF
                                  TA I LIMITED

            This amendment, dated as of 2001 (this "AMENDMENT"), to the Equity
Participation Plan Agreements (as defined below) is made by and among TA I
Limited, a limited liability company organized under the laws of England and
Wales ("TA I"), Mourant & Co. Trustees Limited, as Trustee of a trust organized
by TA I ("MOURANT"), Profit Sharing (Overseas), Limited Partnership, an Alberta,
Canada limited partnership ("PROFIT SHARING"), the individual (the "PURCHASER"
and, together with the other individuals party to Equity Participation Plan
Agreements, the "PURCHASERS") who has duly completed, executed and delivered a
Master Acceptance Form (as defined in the Subscription Agreements (defined
below)), and Willis Group Holdings Limited, a company with limited liability
organized under the laws of Bermuda ("WILLIS HOLDINGS"), and is being entered
into in connection with an offer to all Purchasers to exchange their non-voting
management ordinary shares in TA I for non-voting management common shares of
Willis Holdings.

                               W I T N E S S E T H

            WHEREAS, Profit Sharing, which is controlled by KKR 1996 Fund
(Overseas), Limited Partnership, and the other non-management shareholders of TA
I have determined to exchange, directly or indirectly, their interests in TA I
for equivalent interests in Willis Holdings (the "RESTRUCTURING") in order to
facilitate certain potential transactions, including a potential initial public
offering of shares in Willis Holdings in the United States;

            WHEREAS, in connection with the Restructuring, Profit Sharing, the
other non-management shareholders, Willis Holdings, and TA I have determined to
extend to all of the Purchasers the opportunity to exchange their interests in
TA I for interests in Willis Holdings and, therefore, Willis Holdings has
offered to exchange one non-voting management common share in Willis Holdings
for each non-voting management ordinary share in TA I held by the management
shareholders of TA I; and

            WHEREAS, in connection with Willis Holdings' exchange offer, it is
necessary to amend, and the parties hereto desire to amend, certain provisions
of each of the Equity Participation Plan Agreements to reflect the substitution
of Willis Holdings for TA I as the entity in which equity interests are held.

            NOW, THEREFORE, the parties hereto agree as follows:

<PAGE>

                                   ARTICLE I
                                   DEFINITIONS

            (a)   "EQUITY PARTICIPATION PLAN AGREEMENTS" means:

(i)         (a) a Management and Employee Shareholders' and Subscription
            Agreement, dated as of December 18, 1998 (the "1998 SUBSCRIPTION
            Agreement"), (b) a Management and Employee Shareholders' and
            Subscription Agreement, dated as of May 7, 1999 (the "MAY 1999
            SUBSCRIPTION AGREEMENT"), (c) a Management and Employee
            Shareholders' and Subscription Agreement, dated as of December 20,
            1999 (the "DECEMBER 1999 SUBSCRIPTION AGREEMENT"), (d) a Management
            and Employee Shareholders' and Subscription Agreement, dated as of
            July 6, 2000 (the "JULY 2000 SUBSCRIPTION Agreement"), and (e) a
            Management and Employee Shareholders' and Subscription Agreement,
            dated as of October 5, 2000 (the "OCTOBER 2000 SUBSCRIPTION
            AGREEMENT", and, together with the 1998 Subscription Agreement, the
            May 1999 Subscription Agreement, the December 1999 Subscription
            Agreement, and the July 2000 Subscription Agreement, the
            "SUBSCRIPTION AGREEMENTS"), in each case, by and among TA I,
            Mourant, and the Purchaser referred to therein;

(ii)        (a) either one of two Amended and Restated Share Option Agreements,
            dated as of December 18, 1998 (the "1998 OPTION AGREEMENTS"), (b)
            either one of two Share Option Agreements, each dated as of December
            20, 1999 (the "1999 OPTION AGREEMENTS"), (c) either one of two Share
            Option Agreements, each dated as of July 6, 2000 (the "JULY 2000
            OPTION AGREEMENTS"), and (d) either one of two Share Option
            Agreements, each dated as of October 5, 2000 (the "OCTOBER 2000
            OPTION AGREEMENTS" and, together with the 1998 Option Agreements,
            the 1999 Option Agreements, and the July 2000 Option Agreements, the
            "OPTION AGREEMENTS"), in each case, by and between TA I and the
            individual referred to therein; and

(iii)       (a) a Sale Participation Agreement, dated as of December 18, 1998
            (the "1998 SALE PARTICIPATION AGREEMENT"), (b) a Sale Participation
            Agreement, dated as of May 7, 1999 (the "MAY 1999 SALE PARTICIPATION
            AGREEMENT"), (c) a Sale Participation Agreement, dated as of
            December 20, 1999 (the "DECEMBER 1999 SALE PARTICIPATION
            AGREEMENT"), (d) a Sale Participation Agreement, dated as of July 6,
            2000 (the "JULY 2000 SALE PARTICIPATION AGREEMENT"), and (e) a Sale
            Participation Agreement, dated as of October 5, 2000 (the "OCTOBER
            2000 SALE PARTICIPATION AGREEMENT" and, together with the 1998 Sale
            Participation Agreement, the May 1999 Sale Participation Agreement,
            the December 1999 Sale Participation Agreement, and the July 2000
            Sale Participation Agreement, the "SALE PARTICIPATION AGREEMENTS"),
            in each case, by and between Profit Sharing and the individual
            referred to therein.

            (b) Unless otherwise expressly defined herein, all defined terms
shall have the meanings ascribed thereto in the Subscription Agreements.

                                       2
<PAGE>

                                   ARTICLE II
                            GLOBAL AMENDMENTS TO THE
                      EQUITY PARTICIPATION PLAN AGREEMENTS

            SECTION 2.1. REFERENCES TO THE "COMPANY".

            (a) Except as expressly set forth herein, each Equity Participation
Plan Agreement is hereby amended by deleting the definition of the "Company"
contained therein and substituting therefor the following:

            "Willis Group Holdings Limited, a company with limited liability
            organized under the laws of Bermuda (the "Company")".

            (b) Each party hereto hereby agrees that, except as expressly set
forth herein and except with respect to references of historical fact (such as
what agreements the "Company" or "TA I Limited" may have entered into prior to
the date hereof), (i) each and every reference to the "Company" in each of the
Equity Participation Plan Agreements is to be read as a reference to Willis
Holdings, (ii) each and every reference to "TA I Limited" in each of the Equity
Participation Plan Agreements is to be read as a reference to Willis Holdings,
(iii) Willis Holdings shall be entitled to all rights and privileges enjoyed by
the "Company" thereunder, and shall be subject to all liabilities and duties of
the "Company" thereunder, and (iv) TA I shall not have any rights or privileges
and shall be released from and have no liabilities or duties thereunder.

            SECTION 2.2. REFERENCES TO "ORDINARY SHARES".

            (a) Except as expressly set forth herein, each Equity Participation
Plan Agreement is hereby amended by deleting the definition of "Ordinary Shares"
contained therein and substituting therefor the following:

            "non-voting management common shares, par value $0.000115 per share,
            of the Company (the "Ordinary Shares")".

            (b) Each party hereto hereby agrees that, except as expressly set
forth herein and except with respect to references of historical fact (such as
how the shares were acquired), each and every reference to "Ordinary Shares" in
each of the Equity Participation Plan Agreements is to be read as a reference to
non-voting management common shares, par value $0.000115 per share, of Willis
Holdings.

            SECTION 2.3. REFERENCES TO THE "MEMORANDUM AND ARTICLES" OF THE
COMPANY. Each reference to the "Memorandum and Articles of Association" or
"Articles" of the "Company" in each Equity Participation Plan Agreement is
hereby replaced by a reference to the "Memorandum of Association and Bye-laws"
of Willis Holdings, and the parties hereto hereby agree that each and every
reference to the "Articles" in each of the Equity Participation Plan Agreements
shall be read as a reference to the Bye-laws of Willis Holdings.

            SECTION 2.4. REFERENCES TO THE OPTION PLAN OF TA I LIMITED.

            (a) Each Equity Participation Plan Agreement is hereby amended by
deleting any reference contained therein to either the "1998 Share Purchase and
Option Plan

                                       3
<PAGE>

for Key Employees of TA I Limited" or the "Amended and Restated 1998 Share
Purchase and Option Plan for Key Employees of TA I Limited" and substituting
therefor the "Amended and Restated 1998 Share Purchase and Option Plan for Key
Employees of Willis Group Holdings Limited".

            (b) Each party hereto hereby agrees that, (i) each and every
reference to either the "1998 Share Purchase and Option Plan for Key Employees
of TA I Limited" or the "Amended and Restated 1998 Share Purchase and Option
Plan for Key Employees of TA I Limited" in each of the Equity Participation Plan
Agreements is to be read as a reference to the "Amended and Restated 1998 Share
Purchase and Option Plan for Key Employees of Willis Group Holdings Limited",
(ii) Willis Holdings shall be entitled to all rights and privileges enjoyed by
the "Company" under such plan, and shall be subject to all liabilities and
duties of the "Company" thereunder, and (iii) TA I shall not have any rights or
privileges and shall be released from and have no liabilities or duties
thereunder.

            SECTION 2.5. REFERENCES TO CT CORPORATION SYSTEM. Each Equity
Participation Plan Agreement is hereby amended by deleting the address given for
CT Corporation System and substituting therefor "111 Eighth Avenue, New York,
New York".

            SECTION 2.6. NOTICE PROVISIONS. The notice provision of each Equity
Participation Plan Agreement is hereby amended to provide that the primary
address for contacting the "Company" shall be "Willis Group Holdings Limited,
c/o The Company Secretary, Willis Group Limited, Ten Trinity Square, London EC3P
3AX", with a copy to "Kohlberg Kravis Roberts & Co., Stirling Square, 7 Carlton
Gardens, London SW1Y 5AD, Attention: Todd Fisher".

            SECTION 2.7. REFERENCES TO SIMPSON THACHER & BARTLETT.Each Equity
Participation Plan Agreement is hereby amended by deleting the address given for
Simpson Thacher & Bartlett and substituting therefor:

            "CityPoint
            One Ropemaker Street
            London EC2Y 9HU
            England
            ATTENTION:  Gregory W. Conway".

                                  ARTICLE III
               SPECIFIC AMENDMENTS TO THE SUBSCRIPTION AGREEMENTS

            SECTION 3.1. AMENDMENT TO THE PRIMARY LEGEND. Section 3(b) of each
Subscription Agreement is hereby amended by (i) adding the clause "AS AMENDED,"
after the clause in the primary legend that reads "AND THE PURCHASER NAMED ON
THE FACE HEREOF" and (ii) replacing the clause in the primary legend that reads
"TA I LIMITED (THE "COMPANY")" with "WILLIS GROUP HOLDINGS LIMITED (THE
"COMPANY")".

            SECTION 3.2. AMENDMENT TO THE "DETERMINATION OF REPURCHASE PRICE"
PROVISION. The provision providing for the determination of the Repurchase Price
in each of the Subscription Agreements shall be amended to provide that any
conversions from pounds sterling to U.S. dollars or from U.S. dollars to pounds
sterling will be calculated on the Repurchase Calculation Date by reference to
the noon buying rate in the City of New York

                                       4
<PAGE>

for cable transfers in pounds sterling as announced by the Federal Reserve Bank
of New York for customs purposes (the "NOON BUYING RATE") on such date.

            SECTION 3.3. AMENDMENT TO THE "SHARES ISSUED TO PURCHASER UPON
EXERCISE OF OPTIONS; TERMINATION AND EXPIRATION OF OPTIONS" PROVISION. The
provisions in each of the Subscription Agreements providing for the appropriate
treatment of Options upon their termination and expiration shall be amended to
provide that any conversion from pounds sterling to U.S. dollars or from U.S.
dollars to pounds sterling will be calculated on the appropriate date by
reference to the Noon Buying Rate on such date.

                                   ARTICLE IV
                  SPECIFIC AMENDMENTS TO THE OPTION AGREEMENTS

            SECTION 4.1. REFERENCES TO AN ENTITY OTHER THAN WILLIS HOLDINGS. (i)
The definitions of "Actual Cash Flow Performance," "Actual EBITDA Performance,"
"Consolidated Earnings," "Consolidated Interest Expense," "Constant Currency
Rate," "Cumulative Cash Flow," "EBITDA," "Sustained EBITDA," and "Working
Capital", and (ii) the provision setting forth the calculation of the Combined
Performance Percentage contained in any of the Option Agreements is hereby
amended by replacing any reference therein to either "the Company" or "TA I
Limited" with a reference to "Willis Group Limited".

                                   ARTICLE V
                                  MISCELLANEOUS

            SECTION 5.1. EFFECTIVE TIME. This Amendment shall become effective
as of the date and year first written above.

            SECTION 5.2. COUNTERPARTS. This Amendment may be executed
simultaneously or in any number of counterparts, each of which shall be deemed
to be an original, and all of which shall constitute one and the same
instrument.

            SECTION 5.3. EXISTING CALLS AND PUTS. For the avoidance of doubt, by
executing this amendment the parties hereto agree that any Purchaser holding TA
I Ordinary Shares that have been called for purchase by TA I Limited or Mourant,
but which have not yet been purchased, shall be under a duty to deliver Ordinary
Shares of Willis Holdings at the closing of any such purchase; Willis Holdings
shall not be required to execute a new call or to send any additional notice in
order for the call previously exercised by TA I Limited or Mourant with respect
to Ordinary Shares of TA I Limited to be effective with respect to the Ordinary
Shares of Willis Holdings being offered in the Restructuring in exchange for
such Ordinary Shares of TA I Limited.

            SECTION 5.4. CONSTRUCTION AND GOVERNING LAW. This Amendment shall be
construed together with, and as part of, each of the Equity Participation Plan
Agreements and shall be governed in all respects by the laws of New York or
England, as appropriate, as such laws are applied to agreements to be performed
entirely in such jurisdictions.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

                                       5
<PAGE>

            IN WITNESS WHEREOF, the undersigned have executed this Amendment as
of the date first written above.

<TABLE>
<S>                           <C>
                              TA I LIMITED

                              By:  /s/ Joseph J. Plumeri
                                  -----------------------------------------------------
                                     Name:  Joseph J. Plumeri
                                     Title: Executive Chairman

                              for and on behalf of

                              MOURANT & CO. TRUSTEES LIMITED
                              as trustee of the Trinity
                              Employees' share ownership
                              Plan Trust

                              By:  /s/ William Patrick Jones       /s/ Julie Harris
                                  -----------------------------------------------------
                                   Authorized Signatory            Authorized Signatory

                              PROFIT SHARING (OVERSEAS), LIMITED PARTNERSHIP

                              By:  /s/ T. A. Fisher
                                  -----------------------------------------------------
                                     Name:  T. A. Fisher
                                     Title: Director

                              WILLIS GROUP HOLDINGS LIMITED

                              By: /s/ Joseph J. Plumeri
                                  -----------------------------------------------------
                                     Name:  Joseph J. Plumeri
                                     Title: Executive Chairman
</TABLE>

<PAGE>

                              SIGNATURE PAGE TO THE
                             GLOBAL AMENDMENT TO THE
                      EQUITY PARTICIPATION PLAN AGREEMENTS
                                       OF
                                  TA I LIMITED

                              THE PURCHASER (acting through his or her
                              attorney or agent)*

                              By:  /s/ M. P. Chitty
                                  --------------------------------------------
                                      Name:  Michael P. Chitty

                                      Attorney for those attached

* Appointed by the letter of transmittal and consent.

<PAGE>

<TABLE>
<CAPTION>
                                         WILLIS GROUP HOLDINGS LIMITED - GLOBAL AMENDMENTS

------------------------------------------------------------------------------------------------------------------------------
<S>                                <C>                           <C>                               <C>
Glen Aguilar-Millan                1 College Green
Paul Aitchison                     Little Orchard                10 Pear Tree Lane                 Rowledge
Norman David Alderton              135 Tolmers Road
Ronald L Alexander                 1604 Bingham Drive
Gregory Alff                       1687 Old Hillsboro Road
Robert W Allen                     5903 S Elkins Street
Manuel F Almenara                  4765 Sw 80Th Street
Ian D Armstrong                    38 Pendreich Grove
Frederick Arnold                   3 York Road
Stephen Aston                      Residencias Oktogono          Apto 2A Callet                    Coninas de Valle Arriba
David Atkinson                     14 Haughley Drive             Bixley Farm                       Rushmere
Kirk Austin                        JL. Sekolah Kencana IV A/8B   Pondok Indah
Tim Aylen                          6 Durham Road                 Wigmore
Donald W Bacic                     19734 SE 19th Street
William J. Baird Jr.               24 Murray Hill Circle
Robert A Ballin                    2045 Potter Street
Robert Barlow                      22 Circus Street              Greenwich
Robin Barnes                       43 Queens Road
David W Barnette                   2435 Old Hickory Boulevard
Anne Barrett                       2405 Waverly Street
Stephen T Barton                   21 Sutton Place
Freddy Batt                        13 Chelsea Studios            410-416 Fulham Road
Paul R Becker                      9504 Ashford Place
Graeme Berwick                     P O Box 456                   Haberfield
Guy Bessis                         Flat 115, Pier House          31 Cheyne Walk
Sibyl Bogardus                     13 Magnolia Drive
Enrico Boglione                    175 Strada Vito
Francesco Boglione                 Petersham House               143 Petersham Road                Richmond
Bruce R Bollom                     9 Coonara Avenue              West Pennant Hills
Michael Norman Bone                The Old Vicarage              Gt. Stukeley                      Huntingdon
Philip Bowie                       725 Park Avenue
Paul Brandram                      No.40 Prince's Gate Mews

<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
<S>                                <C>                     <C>         <C>         <C>                    <C>
Glen Aguilar-Millan                Felixstowe              Suffolk                 IP11 7AP                   UK
Paul Aitchison                     Farnham                             SURREY      GU104DW                    UK
Norman David Alderton              Cuffley                             HERTS       EN64JW                     UK
Ronald L Alexander                 Knoxville               Kno         TN          TN 37922                   US
Gregory Alff                       Franklin                Wll         TN          TN 37069                   US
Robert W Allen                     Tampa                   Hil         FL          FL 33611                   US
Manuel F Almenara                  Miami                   Dad         FL          FL 33143                   US
Ian D Armstrong                    Bonnyrigg                           LOTH        EH192EH                    UK
Frederick Arnold                   Larchmont                           NY          NY 10538                   US
Stephen Aston                      Caracas                                                                VENEZUELA
David Atkinson                     Ipswich                 Suffolk                 IP4 5QU                    UK
Kirk Austin                        Jakarta 12310                       ESSEX                              INDONESIA
Tim Aylen                          Gillingham                          KENT        ME80JW                     UK
Donald W Bacic                     Issaquah                Kin         WA          WA 98075                   US
William J. Baird Jr.               Baltimore               Bct         MD          MD 21212                   US
Robert A Ballin                    Eugene                  Lan         OR          OR 97405                   US
Robert Barlow                      London                                          SE108SN                    UK
Robin Barnes                       Tunbridge Wells                     KENT        TN49LZ                     UK
David W Barnette                   Nashville               Dav         TN          TN 37221                   US
Anne Barrett                       Philadelphia                        PA          PA 19146                   US
Stephen T Barton                   London                                          E96EH                      UK
Freddy Batt                        London                                          SW61EB                     UK
Paul R Becker                      Brentwood               Dav         TN          TN 37027                   US
Graeme Berwick                                                                     NSW 2045               AUSTRALIA
Guy Bessis                         London                                          SW35HN                     UK
Sibyl Bogardus                     St. Louis               Stl         MO          MO 63124                   US
Enrico Boglione                    Torino                                          10133                    ITALY
Francesco Boglione                 Surrey                                          TW10 7AA                   UK
Bruce R Bollom                                                                     NSW 2125               AUSTRALIA
Michael Norman Bone                Cambridgeshire                      CAMBS       PE284AL                    UK
Philip Bowie                       Mahtomedi                           MN          MN 55115                   US
Paul Brandram                      London                                          SW72PR                     UK
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                <C>                           <C>                               <C>
Stephen Breen                      890 Somerset Court
Gavin Bridgman                     Poppy Cottage                 Holly Bush Lane                   Sevenoaks
David Brooks                       3 Clare Mews                  Waterford Road
Gary Brooks                        8 Yeomead                     Nailsea
John L Brown                       1204 Spearpoint Drive
Marcus Clement Brown               Abergavenny House             Mill Lane                         Rodmell
Robin Brown                        The Cottage                   Franks Hollow Road                Bidborough
Roger S Brown                      Somersbury                    6 Stoneyfields                    Farnham
Wayne W Brown                      45 Elmwood Drive
Trevor Bruce                       218 Norsey Road
Gary W Buchanan                    1204 Carrington Drive
Charles Burnett                    25 Marloes Road
Rick Burns                         5003 Holly Ave.
Mary E Caiazzo                     9445 Waterfall Road
Terry A Campbell                   27318 Chesterfield Dr.
Pedro Cardelus                     C Francisco de Asis Mendez    Casariego No.4
Ronald J Carlson                   400 West Paddock Circle
John W Carter                      28 Lynch Way                  Horsell                           Woking
Jaime Castellanos                  Po de la Catellana, 36-38 4O
Marcel Chad                        35b Ramsden Road              Balham
William B Chambers                 12 Betty Bush Lane
John Chaney                        2977 Fontenay
Michael Chitty                     17 Eskdale Road                                                 Bexley Heath
Richard Chiverrell                 High Laver House              High Laver                        Nr Ongar
Chris G Clark                      16 Castlewan Gardens          Barnes
Chris N Clark                      4 Verulam Avenue              Purley
Michael Claydon                    54 Bishops Road               Fulham
James Clinch                       30 Bowerdean Street
Richard Close-Smith                40 Pottery Lane
Tom Cochrane                       27 Bucharest Road             London
Jay E Cogswell                     25 Cypress Road
Thomas Colraine                    403 Keyes House               Dolphin Square
Tim Compton                        17 Church Avenue
Edward S Contant                   10800 East Cactus Road        No.44
James Harold Costner               6004 Landmark Place
Nigel Cotton                       31 Greens Farm Lane
Nicholas Martin Cox                The Birches                   3 Oxford Court                    Warley

<CAPTION>
<S>                                <C>                     <C>         <C>         <C>                    <C>
Stephen Breen                      Ramsey                  Ber         NJ          NJ 07446                   US
Gavin Bridgman                     Kent                                KENT        TN133TJ                    UK
David Brooks                       London                                          SW62EG                     UK
Gary Brooks                        Bristol                             AVON        BS48 1JA                   UK
John L Brown                       Hendersonville          Sum         TN          TN 37075                   US
Marcus Clement Brown               Sussex                              E.SUSX      BN73HS                     UK
Robin Brown                        Tunbridge Wells                     KENT        TN30UB                     UK
Roger S Brown                      Surrey                              SURREY      GU98DX                     UK
Wayne W Brown                      Destrehan               Orl         LA          LA 70047                   US
Trevor Bruce                       Billericay                          ESSEX       CM111DB                    UK
Gary W Buchanan                    Raleigh                 Wak         NC          NC 27615                   US
Charles Burnett                    London                                          W86LG                      UK
Rick Burns                         Bellaire                Har         TX          TX 77401                   US
Mary E Caiazzo                     Brentwood               Dav         TN          TN 37027                   US
Terry A Campbell                   Valencia                Los         CA          CA 91354                   US
Pedro Cardelus                     28002 Madrid                                                             SPAIN
Ronald J Carlson                   Wayzata                             MN          MN 55391                   US
John W Carter                      Surrey                              SURREY      GU214QG                    UK
Jaime Castellanos                  28046 Madrid                                                             SPAIN
Marcel Chad                        London                                          SW128QX                    UK
William B Chambers                 Baltimore               Bct         MD          MD 21212                   US
John Chaney                        Shaker Heights          Cuy         OH          OH 44120                   US
Michael Chitty                     Kent                                KENT        DA75DL                     UK
Richard Chiverrell                 Essex                               ESSEX       CM50DR                     UK
Chris G Clark                      London                              W SUSX      SW13 8DU                   UK
Chris N Clark                      Surrey                              SURREY      CR83NQ                     UK
Michael Claydon                    London                              GT LON      SW67AH                     UK
James Clinch                       London                                          SW6 3TW                    UK
Richard Close-Smith                London                                          W114LZ                     UK
Tom Cochrane                                                                       SW18 3AS                   UK
Jay E Cogswell                     Chatham                 Mor         NJ          NJ 07928                   US
Thomas Colraine                    London                                          SW1V 3LX                   UK
Tim Compton                        Ruislip                             MDDSX       HA47HU                     UK
Edward S Contant                   Scottsdale              Mar         AZ          AZ 85259                   US
James Harold Costner               Brentwood               Wll         TN          TN 37037                   US
Nigel Cotton                       Billericay                          ESSEX       CM1 12EX                   UK
Nicholas Martin Cox                Brentwood                           ESSEX       CM145EU                    UK
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                <C>                           <C>                               <C>
Michael Croke                      5948 Broadview Avenue N.E.
Michael S. Cross                   616 Newbern Court
Vincent A Culhane                  6025 Manor Place
Malcolm Cutts-Watson               Cercle De Pierre              Grande Rue                        St Saviours
Daniel P Daley                     12501 Palos West Drive
Martin Daniels                     Cherry Garth                  Links Drive
Edgar Davenport                    820 Georgeboro Court
Paul Leslie Davidson               Church Farmhouse              401 Walton Road                   West Molesey
Rita DeFelice                      829 Colwell Road
Thomas R Denniston                 51 Stonecastle Court
Arvid R Dike                       1124 Shady Oaks Lane                                            Fort Worth
Douglas Dingwall                   848 Milford Road
Chris Doolan                       40 Holifast Road              Wylde Green
Suzanne Douglass                   301 Elizabeth Street          Apt 8A
Christine Douse                    5 Highbury Road               Wimbledon
Nicholas John Dunlop               10 Robin Hood Road            Summit
James W Dunn                       4409 Dale Avenue
Robert Dunn                        501 de la Metarie             Ile des Soeurs                    Verun
Joan Eakin                         14 Tweskard Park
Charles Edens                      2015 Gurney Ct.
Sharon H Edwards                   103 Saltwood Place
Omar Elkhoury                      13709 Mills Farm Road
Douglas Elliot                     23 Redwood Crescent           Bishopton
Melvin Elmy                        17 Weymouth Road
Bo-Goran Engdahl                   Ginsttunet 5                  S-181 48 Lidingoe
Magnus Eriksson                    25 Narborough Street
Michael Faber                      2A Lyall Mews
Raymond B Falk                     540 Audubon Street
Bernard Farrell                    Badgers Raike                 Pope Lane, Whitestake
Rafael Fernandez                   Chilapa 24                    Casa 4
Moreno Fiore                       210 Trinidad                  Dollard-des-Ormeaux
Peter Fontaine                     5004 Fountainhead Drive
Alasdair Forman                    23 Epple Road                 Fulham
Christopher J Franks               65 Brook Manor
Peter J Fritz                      71 Chapel Road
Andrew Fryer                       Field House                   Sedgwick Lane                     Horsham
Edward Fyfe                        Ten Trinity Square

<CAPTION>
<S>                                <C>                     <C>         <C>         <C>                    <C>
Michael Croke                      Tacoma                  Pie         WA          WA 98422                   US
Michael S. Cross                   Burlington              Ala         NC          NC 27615                   US
Vincent A Culhane                  Brentwood               Dav         TN          TN 37027                   US
Malcolm Cutts-Watson               Guernsey                            CHL IS                                 UK
Daniel P Daley                     Palos Park              Coo         IL          IL 60464                   US
Martin Daniels                     Chelmsford                          ESSEX       CM29AW                     UK
Edgar Davenport                    Brentwood               Wll         TN          TN 37027                   US
Paul Leslie Davidson               Surrey                              SURREY      KT8 2EG                    UK
Rita DeFelice                      Swarthmore              Del         PA          PA 19081                   US
Thomas R Denniston                 Alamo                   Con         CA          CA 94507                   US
Arvid R Dike                       Texas                                           TX 76107                   US
Douglas Dingwall                   Holly                   Oak         MI          MI 48442                   US
Chris Doolan                       Sutton Coldfield                    WSTMID      B721AE                     UK
Suzanne Douglass                   New York                Man         NY          10012-2850                 US
Christine Douse                    London                                          SW197PR                    UK
Nicholas John Dunlop               New Jersey                          NJ          NJ 07901                   US
James W Dunn                       Tampa                   Hil         FL          FL 33609                   US
Robert Dunn                        Quebec                                          H3E 1S4                  CANADA
Joan Eakin                         Belfast                                         BT4 2JY
Charles Edens                      Burlington              Ala         NC          NC 27215                   US
Sharon H Edwards                   Hendersonville          Sum         TN          TN 37075                   US
Omar Elkhoury                      Rockville               Mon         MD          MD 20850                   US
Douglas Elliot                     Renfrewshire                        STRATH      PA75DJ                     UK
Melvin Elmy                        Ipswich                             SUFFK       IP45BB                     UK
Bo-Goran Engdahl                                                                                            SWEDEN
Magnus Eriksson                    London                                          SW63AP                     UK
Michael Faber                      London                                          SW1X8DJ                    UK
Raymond B Falk                     New Orleans             Orl         LA          LA 70118                   US
Bernard Farrell                    Nr Preston                          LANCS       PR44BA                     UK
Rafael Fernandez                   Tlalpan                                         CP 14000                 MEXICO
Moreno Fiore                       Quebec                  H9G  2X1                H9G 2X1                  CANADA
Peter Fontaine                     Brentwood               Wll         TN          TN 37027                   US
Alasdair Forman                    London                                          SW64DJ                     UK
Christopher J Franks               Pleasantville           Wes         NY          NY 10570                   US
Peter J Fritz                      Manhasset               Nas         NY          NY 11030                   US
Andrew Fryer                       West Sussex                         W SUSX      RH136QE                    UK
Edward Fyfe                        London                                          EC3P 3AX                   UK
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                <C>                           <C>                               <C>
Ian C Gale                         1 St.Clare Road               Lexden                            Colchester
Martin Galea                       16 Calbourne Road
Alberto Gallego                    Playa de Aro No.1             28290 Las Matas
Claude F Gallello                  7 Hanove Square
Marco Gallotti                     Via Plutarco 7
Michael Gano                       2514 88th Avenue NE
Mark Garthwaite                    3 Hazelwell Road
Thomas Garvey                      19702 Nob Hill
Robert Haydon Gayner               28 Murray Road                Wimbledon Village
John Genovese                      4817 Hillard Avenue
Forrest B Gibbs Jr.                413 Rutherford Lane
James H Glenn Jr.                  138-6 Cherokee Road
Rocky D Goode                      510 E. Fox Den Dr.
Nick Goulder                       The Old Rectory               Littlebury
John H Gray                        478 Clarkston Road            Netherlee
Nigel Gray                         6 Maiden's Bridge Cottages    Bulls Cross
John J Green                       36 Church Street
Robert Griffin                     17 Queens Road
Mike Griffith                      10 Gorst Road
John Grose                         Hilltop'                      235 Chipstead Way
Carl Groth                         38 Clinton Avenue
John P Grotts                      Po Box 191471
Alessandro Guerrini-Maraldi        11iElm Park Road
Robert Guthrie                     30 Downer Road                                                  Benfleet
Cedric J Gyles                     271 Yonge Boulevard           Toronto
Janice C Hackett                   1826 Benders Ferry Road
Paul G Hagood                      2 Port Royal Mews             Southampton
David R Hale                       P.O. Box 75224
Jim Halliday                       Apartment 12                  Glenmore Place
Charles D Hamilton                 9212 Apache Trail
David Hampson                      8 Little Pine Lane
William Randall Hampton            915 Circassian Court
David C Haney                      243 Yarmouth Lane             Media
Michael Harden                     26 Hamilton Street            Coogee
Brad Hart                          33 Woodridge Drive
Tony Harvey                        25 The Meadway                Chelsfield
Peter John Hatcher                 11 Edgewood Close             Whitchurch Park

<CAPTION>
<S>                                <C>                     <C>         <C>         <C>                    <C>
Ian C Gale                         Essex                               ESSEX       CO33SZ                     UK
Martin Galea                       London                                          SW128LP                    UK
Alberto Gallego                    Madrid                                                                   SPAIN
Claude F Gallello                  New York                Mon         NJ          NY 10004                   US
Marco Gallotti                     Milan                                           20145                    ITALY
Michael Gano                       Bellevue                Mul         WA          WA 98004                   US
Mark Garthwaite                    London                                          SW156LU                    UK
Thomas Garvey                      Strongsville            Cuy         OH          OH 44136                   US
Robert Haydon Gayner               London                                          SW194PE                    UK
John Genovese                      La Canada               Los         CA          CA 91011                   US
Forrest B Gibbs Jr.                Columbia                Mau         TN          TN 38401                   US
James H Glenn Jr.                  Charlotte               Mec         NC          NC 28207                   US
Rocky D Goode                      Knoxville               Kno         TN          TN 37922                   US
Nick Goulder                       Saffron Walden                      ESSEX       CB114TL                    UK
John H Gray                        Glasgow                             STRATH      G443QE                     UK
Nigel Gray                         Enfield                             STRATH      EN2 9HB                    UK
John J Green                       New Canaan              Fai         CT          CT 06840                   US
Robert Griffin                     Haywards Heath                      W SUSX      RH161EH                    UK
Mike Griffith                      London                                          SW116JE                    UK
John Grose                         Woodmansterne                       SURREY      SM73JN                     UK
Carl Groth                         Maplewood               Ess         NJ          NJ 07040                   US
John P Grotts                      San Francisco           Saf         CA          CA 94119                   US
Alessandro Guerrini-Maraldi        London                                          SW36BP                     UK
Robert Guthrie                     Essex                               ESSEX       SS71BQ                     UK
Cedric J Gyles                     Ontario                                         M5M 3J1                  CANADA
Janice C Hackett                   Mt. Juliet              Wls         TN          MN 99707                   US
Paul G Hagood                      Bermuda                                         SN 01                   BERMUDA
David R Hale                       Fairbanks               Fai         AK          AK 99707                   US
Jim Halliday                       Lisburn                                         BT274BE                    UK
Charles D Hamilton                 Brentwood               Wll         TN          TN 37027                   US
David Hampson                      Exeter                  Roc         NH          NH 03833                   US
William Randall Hampton            Alpharetta              Ful         GA          GA 30022                   US
David C Haney                                              Del         PA          PA 19063                   US
Michael Harden                                                                     NSW                    AUSTRALIA
Brad Hart                          Oakridge                Pas         NJ          NJ 07438                   US
Tony Harvey                        Nr Orpington                        KENT        BR66HH                     UK
Peter John Hatcher                 Bristol                             AVON        BS149AR                    UK
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                <C>                           <C>                               <C>
Robert V Hatcher III               1121 Brians Way               Wayne
Nicholas Hawke                     Cherry Trees                  Pilgrims Way                      Wrotham
David Daniel Hawkins               7 High Pine Close
David A Hearn                      294 Batleson Road
Peter C Hearn                      7021 Lafayette Avenue
Alan Bertie Hedgecock              Sandbanks                     71 Cliff Road                     Felixstowe
Martyn Hedley                      67 Dove House Street
Eric P Hein                        2301 Sanford Lane
Johanna R Holliday                 2 Magdalen Road
Clark Hontz                        322 Woodland Road
Maurice D Horner                   2840 Crestwood Avenue
Roland G Horton                    17 Saxon Road
Scot A Housh                       4209 Country Club Rd
Jason P Howard                     14 Brodrick Road
John Hudson                        "Starwberry Fields"           Longmill Lane                     Crouch, Nr Platt
Mark A Hudson                      Duchy House                   Royal Square                      Dedham
Mark Hue-Williams                  Flat 3                        First Floor                       10 Hobury Street
Derrick D Iseler                   4746 Lakeview Circle
John B Jacobs                      13459 E. Wethersfield Road
Mark Jenkins                       The Woodlands                 29 Wood Road
Brian D Johnson                    5004 Country Club Drive
Edward G Johnson                   23 Ball Creek Hill
Robert E Kalbfell                  48 Londonderry Lane
Roger Kaye                         4 Matthews Close              Stratford St. Mary
Lloyd Kelley                       1101 Navaho Drive
John J Kelly                       500 E 77th Street
Peter T Kelly                      8288 Tugboat Place            Vancouver                         British Columbia
Colin Kiddie                       2 Wellington Way              Kate Reed Wood
Jeremy David Moseley Kinsey        The Oast House                Great Forge Farm, Riding Lane     Hildenborough
Peter Knight                       Hey Tor                       5 Melville Avenue
Robert A Knight                    27 Chinnocks Wharf            Narrow Street                     Limehouse
Adrian Konynendyk                  Naarderweg 26                 1261 Bt Blaricum
Victor P Krauze                    18220 20Th Ave N
David Laabs                        45723 Greenridge Drive
Louis-Thomas Labbe                 116 de Charente               St. Lambert
Lucien P Laborde Jr.               210 Midenhall Way
Charles A Laible                   50 Nottingham Drive

<CAPTION>
<S>                                <C>                     <C>         <C>         <C>                    <C>
Robert V Hatcher III                                       Del         PA          PA 19087                   US
Nicholas Hawke                     Kent                                KENT        TN157NN                    UK
David Daniel Hawkins               Weybridge                           SURREY      KT139EA                    UK
David A Hearn                      Ambler                  Phi         PA          PA 19002                   US
Peter C Hearn                      Fort Washington         Mot         PA          PA 19034                   US
Alan Bertie Hedgecock              Suffolk                             SUFFK       IP119SQ                    UK
Martyn Hedley                      London                                          SW36JY                     UK
Eric P Hein                        Charlotte               Bct         NC          NC 28211                   US
Johanna R Holliday                 London                                          SW183NP                    UK
Clark Hontz                        Madison                 Mor         NJ          NJ 07490                   US
Maurice D Horner                   Chattanooga             Ham         TN          TN 37415                   US
Roland G Horton                    Worth                               W SUSX      RH107SA                    UK
Scot A Housh                       Edina                   Hen         MN          MN 55424                   US
Jason P Howard                     London                                          SW177DZ                    UK
John Hudson                        Sevenoaks               Kent                    TN15 8QB                   UK
Mark A Hudson                      Colchester                          ESSEX       CO76AA                     UK
Mark Hue-Williams                  London                                          SW100JB                    UK
Derrick D Iseler                   Slinger                             WI          WI 53086                   US
John B Jacobs                      Scottsdale              Mar         AZ          AZ 85259                   US
Mark Jenkins                       Harrold                             BEDS        MK437BS                    UK
Brian D Johnson                    Brentwood               Wll         TN          TN 37027                   US
Edward G Johnson                   Atlanta                 Ful         GA          GA 30328                   US
Robert E Kalbfell                  Somers                  Put         NY          NY 10589                   US
Roger Kaye                         Colchester                          ESSEX       CO76LH                     UK
Lloyd Kelley                       Brentwood               Wll         TN          TN 37027                   US
John J Kelly                       New York                Wes         NY          NY 10162                   US
Peter T Kelly                                                                      V6P 6P9                  CANADA
Colin Kiddie                       West Malling                        KENT        ME194LD                    UK
Jeremy David Moseley Kinsey        Kent                                KENT        TN11 9LH                   UK
Peter Knight                       South Croydon                       SURREY      CR27HZ                     UK
Robert A Knight                    London                                          E148DJ                     UK
Adrian Konynendyk                                                                                         NETHERLANDS
Victor P Krauze                    Plymouth                Hen         MN          MN 55447                   US
David Laabs                        Northville              Way         MI          MI 48167-1756              US
Louis-Thomas Labbe                 Quebec                                          J4S 1K3                  CANADA
Lucien P Laborde Jr.               Cary                    Wll         NC          NC 27513                   US
Charles A Laible                   Watchung                Uni         NJ          NJ 07069                   US
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                <C>                           <C>                               <C>
Sandra Lalich                      8220 Harrison Street          Apt. 303
Thomas Lee Lanning                 1800 Lucky John Drive
Patrick E Lawrence                 32 Macklands Way
Peter Charles Warrior Ledger       15eWoodstone Avenue
Bong K Lee                         146 Viola Way                 Paramus
James C Leo                        208 Ravenscliff
Adrian Lessner                     98 Providence Square
Mark R Lever                       29 Grantham Crescent
David D Lewis                      The Barn                      Church Close
Thomas R Lewis                     801 W. Moon Valley Drive
Will G Lewis                       4 Royal Lodge Park
William N Lloyd                    6 Loryn Lane
Christopher Michael London         51 Streathbourne Road
Dennis G Loots                     9308 Wyoming Avenue South
Richard Loughlin                   49 McCouns Lane
Nicholas M Lovecchio               208 Walnut Lane
Patrick Lucas                      1 Avenue Emile Acollas
David P Mack                       167 Fox Ridge Road
Hazel Mary Mack                    Pounce Hall Cottage           1 Walden Road                     Sewards End
Leo K Magrath                      142 Walthery Avenue
Andrew B Mahoney                   3345 Hill Lane
Ken Mahony                         25 Ballawley Court                                              Sandyford
David Maidment                     4 Broad Oak                   Groombridge
William F Majors                   30 North Shore Road           Smiths
James Maloney                      3920 Kenilworth Road
Tim Malton                         4 Dunmore Road                Wimbledon
Glenn Manning                      1360 Anchor Bay Drive
Pauline A Margrett                 60 Deansway
Al Marquis Jr.                     4 Coach & Four Road                                             Annandale
Robert Martin                      Rose Cottage                  Tyrrells Wood                     Leatherhead
James R Martocci                   307 Forest Road
Garrett A Mathieson                3 Cope Circle                 Rye
Stephen Maycock                    The Limes                     6 Hambledon Park                  Hambledon, Godalming
Luke Mayhook                       55 Myln Meadow                Stock
Colin McBride                      Wildridings                   3 Glebelands Close                Prestwood, Gt. Missenden
Stewart McCulloch                  7 Turners Crescent
Stewart McDowell                   2325 Richardson Drive

<CAPTION>
<S>                                <C>                     <C>         <C>         <C>                     <C>
Sandra Lalich                      Munster                 Lak         IN          IN 46321                   US
Thomas Lee Lanning                 Park City               Sum         UT          UTAH 84060                 US
Patrick E Lawrence                 Rainham                             KENT        ME87PE                     UK
Peter Charles Warrior Ledger       Ipswich                             SUFFK       IP13TE                     UK
Bong K Lee                                                             NJ          NJ 07652                   US
James C Leo                        St Davids                           PA          PA 19087                   US
Adrian Lessner                     London                                          SE1 2EB                    UK
Mark R Lever                       Ipswich                             SUFFK       IP29PD                     UK
David D Lewis                      Reed                                HERTS       SG88AN                     UK
Thomas R Lewis                     Phoenix                 Mar         AZ          AZ 85023                   US
Will G Lewis                       Belfast                                         BT8 7YP                    UK
William N Lloyd                    Mendham                 Mor         NJ          NJ 07945                   US
Christopher Michael London         London                                          SW17 8QZ                   UK
Dennis G Loots                     Bloomington             Hen         MN          MN 55438                   US
Richard Loughlin                   Oyster Bay Cove         Nas         NY          NY 11771                   US
Nicholas M Lovecchio               Ambler                  Mot         PA          PA 19002                   US
Patrick Lucas                      Paris                                           75007                    France
David P Mack                       Stamford                Fai         CT          CT 06903                   US
Hazel Mary Mack                    Nr Saffron Walden                   ESSEX       CB102LE                    UK
Leo K Magrath                      Ridgewood               Ber         NJ          NJ 07450                   US
Andrew B Mahoney                   Deephaven               Hen         MN          MN 55391                   US
Ken Mahony                         Dublin 16                                                               Ireland
David Maidment                     Tunbridge Wells                     KENT        TN39SD                     UK
William F Majors                   Bermuda                                         FL 03                   BERMUDA
James Maloney                      Columbia                Ric         SC          SC 29205                   US
Tim Malton                         London                                          SW208TN                    UK
Glenn Manning                      Greensboro              Gre         GA          GA 30642                   US
Pauline A Margrett                 London                                          N20JE                      UK
Al Marquis Jr.                                                                     NJ 08801                   US
Robert Martin                      Surrey                              SURREY      KT228QJ                    UK
James R Martocci                   Mahwah                  Ber         NJ          NJ 07430                   US
Garrett A Mathieson                                                    WES         NY 10580                   US
Stephen Maycock                    Surrey                              SURREY      GU84ER                     UK
Luke Mayhook                       Ingatestone                         ESSEX       CM49NE                     UK
Colin McBride                      Buckinghamshire                     BUCKS       HP160QP                    UK
Stewart McCulloch                  Bishops Stortford                   HERTS       CM234FZ                    UK
Stewart McDowell                   Charlotte               Mec         NC          NC 28211                   US
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                <C>                           <C>                               <C>
Kevin McGill                       3308 Sycamore Lane
Simon McGrath                      14 Manor Gardens              Merton Park                       Wimbledon
Richard McSephney                                                P O Box 956G                      GPO Melbourne
Joseph McSweeny                    23 North Gate                 Prince Albert Road
Anthony Melia                      11 Dampier Road               Coggeshall
Stuart Mercer                      761 King Street               Chappaqua
Michael R Meredith                 900 Sundew Drive
Hugo Merison                       Cherry Orchard House          The Warren, Broughton
Kirk Metcalf                       815 Sherlin Lane
Michael C Metzger                  9427 N 43rd Street
John R Milam                       426 Heathermoor Drive
Lane Milam                         2142 Cameron Circle
Nicholas H E Millard               56 Lamont Road
Richard M Miller Jr.               4440 Sheppard Place
Grahame Millwater                  11 Dartmouth Row              Greenwich
Doug Milne                         Kippings                      The Warren                        East Horsley
Laurence Molloy                    11 Herne Road                 Coreys Mill
Tim Monaghan                       The Old Cooperage             12 Aspall Road
Sergio Montoya                     565 Harbor Drive
William G Moody                    3760 Homestead Ridge Drive    Cumming
Charles William Mooney             404 Hunterwood Court
Ronald E Moore                     Suite 3050,                   301 Commerce
Allan Charles Morris               2 Ring Terrace                St Marys Bay
James C Morris                     3307 East Briarcliff Road
David A Morris                     820 Woodburn Drive
Anthony Morrissey                  Flat 14, 56 Vincent Square
John Muir                          Merrilaw                      Martinsend Lane                   Great Missenden
James F Murphy                     78 Hawk Street
Michael Patrick Murray             6 Days Green
John F Navin                       14730 28Th Street Ct.N.
Warren Neale                       38 Brackley Square                                              Woodford Green
Phillip R Neff                     15255 East 21St Street North
Russell Nevard                     Summer Cottage                1 Wiseton Road                    Wandsworth Common
George Frederick Nixon             The Old Cottage               Church Lane                       Headley
Ed Nokes                           9426 Shangri La Road
Graeme Bruce Norman                7 Norwood Road                Bayswater
David Oliver                       140 Cherokee Hill

<CAPTION>
<S>                                <C>                     <C>         <C>         <C>                    <C>
Kevin McGill                       Yorktown Heights        Wes         NY          NY 10598                   US
Simon McGrath                      London                                          SW209AB                    UK
Richard McSephney                  Victoria 3001                                                          AUSTRALIA
Joseph McSweeny                    London                                          NW87RE                     UK
Anthony Melia                      Essex                               ESSEX       CO61QZ                     UK
Stuart Mercer                      New York                                                                   USA
Michael R Meredith                 Alpharetta              Ful         GA          30005                      US
Hugo Merison                       Flintshire                          CHES        CH40EQ                     UK
Kirk Metcalf                       Great Falls             Fai         VA          22066                      US
Michael C Metzger                  Phoenix                 Mar         AZ          AZ 85023                   US
John R Milam                       Knoxville               Kno         TN          TN 37922-2559              US
Lane Milam                         Birmingham              Jef         AL          AL 35242                   US
Nicholas H E Millard               London                                          SW100HX                    UK
Richard M Miller Jr.               Nashville               Dav         TN          TN 37205                   US
Grahame Millwater                  London                                          SE108AW                    UK
Doug Milne                         Surrey                              SURREY      KT245RH                    UK
Laurence Molloy                    Stevenage                           HERTS       SG14RW                     UK
Tim Monaghan                       Debenham                            SUFFK       IP146QA                    UK
Sergio Montoya                     Key Biscayne            Dad         FL          FL 33149                   US
William G Moody                                                        FOR         GA 30041                   US
Charles William Mooney             Brentwood               Dav         TN          TN 37027                   US
Ronald E Moore                     Fort Worth              Tar         TX          TX 76102                   US
Allan Charles Morris               Auckland                                                               NEW ZEALAND
James C Morris                     Birmingham              Jef         AL          AL 35223                   US
David A Morris                     Brentwood               Wll         TN          TN 37207                   US
Anthony Morrissey                  London                                          SW18 2NE                   UK
John Muir                          Buckinghamshire                     BUCKS       HP169HR                    UK
James F Murphy                     Pearl River             Roc         NY          NY 10965                   US
Michael Patrick Murray             Capel St. Mary                      SUFFK       IP92HZ                     UK
John F Navin                       Stillwater              Was         MN          MN 55082                   US
Warren Neale                       Essex                               ESSEX       IG87LL                     UK
Phillip R Neff                     Wichita                 Sed         KS          KS 67230                   US
Russell Nevard                     London                                          SW177EE                    UK
George Frederick Nixon             Surrey                              SURREY      KT186LG                    UK
Ed Nokes                           Scottsdale              Dav         AZ          AZ 85260                   US
Graeme Bruce Norman                Auckland                                                               NEW ZEALAND
David Oliver                       Canton                  Gwi         GA          GA 30115                   US
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                <C>                           <C>                               <C>
Bertil Olsson                      11839 Brandywine Lane
Jerome Ouimet                      149 Pleasant Circle
James McAllister Outram            Oak Cottage                   Swanton Road
Paul Anthony Owens                 Glenbervie                    12 Westerfield Road
Andrew John Faviell Pace           1 Dempster Road
Michael R Parker                   1110 Lake Avenue
Mark R Parker                      25 Upper Montagu Street
Greg Parnell                       Wedgewood                     1 Claremont End
Eugenio Paschoal                   Av Prof Alceu Maynard         Araujo 443 BL 4 Ap 32             Granja Julieta
Carlo Pasteur                      ia Stampa 8
Edoardo Pasteur                    Via Santa Maria Valle 5
Crawford Paul                      337 Earlsfield Road
Bruce Pearson                      12215 Briarwood
John Pearson                       4417 Shepherd Place
Moss Pellen                        333 River Valley Road         No.03-02                          Yong An Park
Oliver Peterken                    44 Glasslyn Road              Crouch End
Gregory K Peterson                 9020 Mayfield Court
James R Petrich                    12209 Autumn Ridge Ct.
Terry Pey                          Holbrook Mill                 Church Hill                       Holbrook
Anthony J Phillips                 462 Woodcrest Road
Flavio Piccolomini                 39 Chipstead Street
Kenneth H Pinkston                 1178 Travelers Ridge Drive
Iain Pocock                        "Maythorns"                   Whitesfield                       East Bergholt
Fred Podolsky                      115 Charter Oak Road
Roger Charles Potts                Donnithorne                   30 Park Road                      Disley
Stephen J Potts                    104 Woodbridge Road           Rushmere St Andrew
Gary Preston                       106 Abbeywood Drive
D. Scott Price                     6 Druid Hill Road
Oliver Prior                       105 Elstree Road
Linton B Puckett                   P.O. Box 2007
John R Pugh                        4220 B Street
Agostino Puppo                     Via Trento 12/3
Phillip C Purdy                    19235 County Road 10
Charles Pyron                      2035 Hunterwood Dr.
Mark Radburn                       7 Wood Green Close            Callow Hill
Guy F Ragosta                      204 Meadowood Drive
James A Ratcliffe                  4 Holland Park Court          Holland Park Gardens

<CAPTION>
<S>                                <C>                     <C>         <C>         <C>                     <C>
Bertil Olsson                      Houston                 Har         TX          TX 77024                   US
Jerome Ouimet                      Arden Hills             Ram         MN          MN 55112                   US
James McAllister Outram            West Peckham                        KENT        ME185JY                    UK
Paul Anthony Owens                 Ipswich                             SUFFK       IP42UJ                     UK
Andrew John Faviell Pace           London                                          SW181AS                    UK
Michael R Parker                   Greenwich               Fai         CT          CT 06831                   US
Mark R Parker                      London                                          W1H 1RQ                    UK
Greg Parnell                       Esher                               SURREY      KT109LZ                    UK
Eugenio Paschoal                   Sao Paulo                                       04726-907                BRAZIL
Carlo Pasteur                      Milan                                           20123                    ITALY
Edoardo Pasteur                    Milan                                           20123                    ITALY
Crawford Paul                      London                                          SW183DG                    UK
Bruce Pearson                      Wichita                 Sed         KS          KS 67235                   US
John Pearson                       Nashville               Dav         TN          TN 37205                   US
Moss Pellen                                                                        238365                  SINGAPORE
Oliver Peterken                    London                                          N88RH                      UK
Gregory K Peterson                 Brentwood               Wau         TN          TN 37027                   US
James R Petrich                    Wichita                 Sed         KS          KS 67235                   US
Terry Pey                          Ipswich.                            SUFFK       IP92QN                     UK
Anthony J Phillips                 Key Biscayne            Dad         FL          FL 33149                   US
Flavio Piccolomini                 London                                          SW63SR                     UK
Kenneth H Pinkston                 Nashville               Dav         TN          TN 37220                   US
Iain Pocock                        Suffolk                             SUFFK       CO76SP                     UK
Fred Podolsky                      Fairfield               Fai         CT          CT 06430                   US
Roger Charles Potts                Stockport                           GT MAN      SK122NA                    UK
Stephen J Potts                    Ipswich                             SUFFK       IP45RA                     UK
Gary Preston                       Nashville               Dav         TN          TN 37215                   US
D. Scott Price                     Summit                  Uni         NJ          NJ 07901                   US
Oliver Prior                       Bushey                              HERTS       WD234EG                    UK
Linton B Puckett                   Greenville              Gre         SC          SC 29602                   US
John R Pugh                        Anchorage               Anc         AK          AK 99503                   US
Agostino Puppo                     Genova                                          16100                    ITALY
Phillip C Purdy                    Corcoran                Hen         MN          MN 55340                   US
Charles Pyron                      Brentwood               Wll         TN          TN 37027                   US
Mark Radburn                       Redditch                            H&W         B975YR                     UK
Guy F Ragosta                      South Burlington        Chi         VT          VT 05452                   US
James A Ratcliffe                  London                                          W148DN                     UK
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                <C>                           <C>                               <C>
William H Ratz                     803 Old Lake Road
Diane Audrey Ray                   9 Berthold Mews               Beaulieu Drive                    Waltham Abbey
Steve L Rayner                     63 Burleigh Park
Mark E Reagan                      534 Tremont Avenue
Peter R Redfern                    Orchard End                   45 Moorside
David Charles Reed                 25589 Serena Drive
George Reeth                       12 Dellwood Parkway East
Charles Richardson                 7 Franconia Road
Monte Richardson                   3055 Avenida Magoria
Jeremy T Ridge                     Wintringham                   High Road
Alistair Rivers                    44F Queen's Gate              Kensington
Eric Maurice Roberts               300 Livorna Heights Rd.
Roger D Robison                    5216 Sunningdale Drive
H. David Roebuck                   2522 14th Avenue
Robert P Runk                      16 Church Street
Donald Rushton                     Flat 5                        14 Wimpole Street
James Michael Ruston               1809 Kelly Court
Loreto J Ruzzo                     38 Hilltop Road
Dominic Samengo-Turner             Spicers Farm House            Rowhill Lane
Joseph W Sarrey Jr.                36 Pond Street
David H Scott                      Woodbank Cottage              Tower Hill                        Dorking
Neil Seagers                       6A North Mews
Scott T Self                       3229 Coventry Place
Anton Serrats                      Po de la Castellana, 36-38
Colin Andrew Sharman               141 Bishopsteignton           Shoeburyness
Martin Shilvock                    23 Croftdown Road             Harborne
David E Shuey                      1547 Mill Race Lane
Michael J Sicard                   465 Cumberland Place
Gregory C Sinnott                  30 Stirrup Place
Philip Smaje                       1 Brabourne Heights           Marsh Lane                        Mill Hill
John Smart                         Alpine Lodge                  4 Alderton Close                  Felsted
Leslie J Smith                     21 Seymour Gardens
Mark M. Smith                      156 Undercliffe Avenue, Apt 1 Edgewater
Peter D Smith                      70 Mayfield Road
Richard Sowerby                    Marlow House                  7 Anjou Green                     Beaulieu Park
Christian Steenstrup               Jakstigen 16                  S-181 46 Lidingo
Stuart Stow                        121 William Edward Street     Longueville

<CAPTION>
<S>                                <C>                     <C>         <C>         <C>                     <C>
William H Ratz                     Houston                 Har         TX          TX 77057                   US
Diane Audrey Ray                   Essex                                           EN9  1JS                   UK
Steve L Rayner                     Cobham                              SURREY      KT112DU                    UK
Mark E Reagan                      Westfield               Dav         NJ          NJ 07090                   US
Peter R Redfern                    Cleckheaton                         WYORKS      BD196JT                    UK
David Charles Reed                 Valencia                Los         CA          CA 91355                   US
George Reeth                       Madison                 Mor         NJ          NJ 07940                   US
Charles Richardson                 London                                          SW49NB                     UK
Monte Richardson                   Escondido               Sdi         CA          CA 92029                   US
Jeremy T Ridge                     Chipstead                           SURREY      CR53QN                     UK
Alistair Rivers                    London                                          SW75HR                     UK
Eric Maurice Roberts               Alamo                   Con         CA          CA 94507                   US
Roger D Robison                    Charlotte               Cas         NC          NC 28277                   US
H. David Roebuck                   San Francisco           Con         CA          CA 94127                   US
Robert P Runk                      Southport               Fai         CT          CT 06490                   US
Donald Rushton                     London                                          W1G9SX                     UK
James Michael Ruston               Darien                  Dup         IL          IL 60561                   US
Loreto J Ruzzo                     Waccabuc                Wll         NY          NY 10597                   US
Dominic Samengo-Turner             Balcombe                            W SUSX      RH176JN                    UK
Joseph W Sarrey Jr.                Rehoboth                Bri         MA          MA 02769                   US
David H Scott                      Surrey                                          RH4  2AT                   UK
Neil Seagers                       London                                          SW1N 2JP                   UK
Scott T Self                       Burlington              Gui         NC          NC 27215                   US
Anton Serrats                      Madrid                                          28046                    SPAIN
Colin Andrew Sharman               Essex                               ESSEX       SS38BQ                     UK
Martin Shilvock                    Birmingham                          WSTMID      B178RA                     UK
David E Shuey                      West Chester            Che         PA          PA 19380                   US
Michael J Sicard                   Nashville                           TN          TN 37215                   US
Gregory C Sinnott                  Wilton                  Fai         CT          CT 06897                   US
Philip Smaje                       London                                          NW74NU                     UK
John Smart                         Essex                               ESSEX       CM6 3EL                    UK
Leslie J Smith                     Surbiton                            SURREY      KT58QE                     UK
Mark M. Smith                                              Ber              NJ     NJ 07020                   US
Peter D Smith                      Ipswich                             SUFFK       IP43NG                     UK
Richard Sowerby                    Chelmsford                          ESSEX       CM16EE                     UK
Christian Steenstrup                                                                                        SWEDEN
Stuart Stow                        Sydney                                          NSW 2066                AUSTRALIA
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                <C>                           <C>                               <C>
Joseph F Sullivan                  1322 South Wabash, Unit C
R Craig Sutherland Jr.             3 Windsor Way
Kenneth J Sweeney                  15 Westview Drive
James Sybert                       1176 Cross Creek Drive
Philip Symes                       10 Beryl Road
Michael R Szot                     5256 La Canada Blvd.
John W Taylor                      "Kingsmead"                   Working Lane                      Gretton
Rod Thaler                         2 Morris Lane
Eric Thompson                      2604 Chyenne Circle
Hon Keung Tsang                    17/F, AIA Plaza               18 Hysan Avenue                   Causway Bay
Joe Ben Turner                     1068 Craigland Court
Sarah Turvill                      33 Canonbury Park North
Luis Alberto Undurraga Cruz        Camino el Alarife 1000        Lo Barnechea Las Condes
James Vickers                      19 Herondale Avenue
Brian K Victory                    344 Julianna Circle
Alexander W Vietor                 301 Purchase Street
Clayton George Vigrass             4705 Derbyshire Drive
Dow Walker Jr.                     1003 Lexington Drive
Johnson Wallace                    110 Westhampton Place
Kevin T Walsh                      574 STANGLE ROAD              MARTINSVILLE
Ian Warner                         The Old Post House            Bowlhead Green
Hugh A Warren                      88 St Johns Wood Terrace
James J Warzyniec                  34734 Navin
Nigel Watts                        9 FURLONG ROAD                LONDON
Derek Webb                         Honeywood                     Glanthams Close
Ronald Paul Weinhold               2255 Charnelton Street
Paul Wenham                        100 Ossulton Way
Chris Weston-Simons                65 Woodbourne Avenue
Thomas Wilder                      8700 N. 55Th Place
Giles Wilkinson                    Mount Noddy                   Church Lane                       Danehill
Christopher Williams               5911 E Valley Vista Lane                                        Paradise Valley
Maurice J Williams                 24 St Margaret's Road         Wanstead
Adam David Willis                  46 Cloncurry Street           Fulham
Joseph M Wilson                    1083 West Park Avenue
David Wrathall                     18 Glen Avenue
Mike Wright                        51 Queen's Grove              St John's Wood
Chung-Hsiao Wu                     2/F, 114, Chung Shan N. Road  SEC 2

<CAPTION>
<S>                                <C>                     <C>         <C>         <C>                     <C>
Joseph F Sullivan                  Chicago                 Coo         IL          IL 60605                   US
R Craig Sutherland Jr.             Basking Ridge           Som         NJ          NJ 07929                   US
Kenneth J Sweeney                  Katonah                 Wes         NY          NJ 10536                   US
James Sybert                       Franklin                Wll         TN          TN 37067                   US
Philip Symes                       London                                          W68JT                      UK
Michael R Szot                     La Canada               Los         CA          CA 91011                   US
John W Taylor                      Nr. Chelmsford                      GLOUCS      GL545EU                    UK
Rod Thaler                         Oyster Bay Cove                     NY          NY 11771                   US
Eric Thompson                      Minnetonka              Hen         MN          MN 55305                   US
Hon Keung Tsang                                                                                            HONG KONG
Joe Ben Turner                     Knoxville               Kno         TN          TN 37919                   US
Sarah Turvill                      London                                          N12JU                      UK
Luis Alberto Undurraga Cruz        Santiago                                                                 CHILE
James Vickers                      London                                          SW183JN                    UK
Brian K Victory                    Franklin                Mec         TN          TN 37064                   US
Alexander W Vietor                 Rye                     Wes         NY          NY 10580                   US
Clayton George Vigrass             Antioch                 Dav         TN          TN 37013                   US
Dow Walker Jr.                     Brentwood               Wll         TN          TN 37027                   US
Johnson Wallace                    Nashville               Dav         TN          TN 37205                   US
Kevin T Walsh                                                          New York    NJ 08836                   US
Ian Warner                         Nr Godalming                        SURREY      GU86NW                     UK
Hugh A Warren                      London                                          NW86PY                     UK
James J Warzyniec                  Livonia                 Way         MI          MI 48152                   US
Nigel Watts                                                                        N7   8LS                   UK
Derek Webb                         Shenfield                           ESSEX       CM158DD                    UK
Ronald Paul Weinhold               Eugene                  Lan         OR          OR 97405                   US
Paul Wenham                        London                                          N20LD                      UK
Chris Weston-Simons                London                                          SW161UX                    UK
Thomas Wilder                      Paradise Valley         Mar         AZ          AZ 85253                   US
Giles Wilkinson                    West Sussex                         W SUSX      RH17 7EY                   UK
Christopher Williams               Phoenix                 Mar         AZ          AZ 85253                   US
Maurice J Williams                 London                                          E125DR                     UK
Adam David Willis                  London                                          SW66DU                     UK
Joseph M Wilson                    Long Beach              Ber         NY          NY 11561                   US
David Wrathall                     Colchester                          ESSEX       C033SD                     UK
Mike Wright                        London                                          NW86EN                     UK
Chung-Hsiao Wu                     Taipei                                                                   TAIWAN
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                <C>                           <C>                               <C>
Yusho Yamamoto                     7-13-5 Tsukimino              Yamato
------------------------------------------------------------------------------------------------------------------------------
Willis ESOP Management
Limited                            P O Box 63, 7 Bond Street      St Helier
Charles D Hamilton and Mary
Caiazzo                            26 Century Boulevard

Mourant & Co. Trustees Limited     P O Box 87, 22 Grenville       St Helier
First Island Trustees (Guernsey)
Limited                            P O Box 146, Town Mills South  La Rue du Pre                    St Peter Port

First Island Trustees (Guernsey)   P.O. Box 146, Town Mills South La Rue du Pre                    St. Peter Port
Limited

<CAPTION>
<S>                                <C>                     <C>         <C>         <C>                     <C>
Yusho Yamamoto                     Kanagawa                                        242-0002                    JAPAN
--------------------------------------------------------------------------------------------------------------------------
Willis ESOP Management
Limited                            Jersey                                          JE4 8PH                 Channel Islands
Charles D Hamilton and Mary
Caiazzo                            Nashville                                       TN 37214                     USA

Mourant & Co. Trustees Limited     Jersey                                          JE4 8PX                 Channel Islands
First Island Trustees (Guernsey)
Limited                            Guernsey                                        GUY1 3HZ                Channel Islands

First Island Trustees (Guernsey)  Guernsey                                         GUY1 3HZ                Channel Islands
Limited

</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00025-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00025-of-00352.parquet"}]]