Document:

MMC 06.30.2014 10Q Ex_10.2

Exhibit 10.2

June 11, 2014

Daniel S. Glaser
[Address]
[City, State, Zip Code]

Subject:    Terms of Employment

Dear Dan:

This amendment to the Letter Agreement, dated September 18, 2013, between you and Marsh & McLennan Companies, Inc. (the “2013 Letter Agreement”) revises the terms and conditions of your employment by Marsh & McLennan Companies, Inc.  The 2013 Letter Agreement will continue to govern your employment, except as specified below, effective as of May 14, 2014:

		
	1.
	Exhibit A to the 2013 Letter Agreement shall be deleted and replaced in its entirety with the attached Exhibit A.

Please acknowledge your agreement with the terms of this letter agreement by signing and dating below and the enclosed copy and returning one executed document to me on or before June 25, 2014.

Sincerely,

/s/ H. Edward Hanway
H. Edward Hanway
Chairman of the Compensation Committee
of the Board of Directors of Marsh & McLennan Companies, Inc.

Accepted and Agreed:

/s/ Daniel S. Glaser            
(Signature)        

June 13, 2014                
(Date)

June 11, 2014
Daniel S. Glaser
Page 2

Exhibit A

 
	
		
	Board or Committee Memberships
	•    International Advisory Board of BritishAmerican Business
•    Board of Trustees of the American Institute for Chartered Property Casualty Underwriters
•    Insurance Information Institute
•    Board of Trustees of Ohio Wesleyan University

	Annual Base Salary
	$1,400,000

	Annual Target Bonus Opportunity
	Bonus awards are discretionary.  Anticipated target bonus of $2,800,000 commencing with the 2013 performance year (awarded in 2014).  Actual bonus may range from 0% - 200% of target, based on achievement of individual performance objectives, and/or Marsh & McLennan Companies’ performance as Marsh & McLennan Companies may establish from time to time.

	Annual Target Long Term Incentive Opportunity
	Long-term incentive awards are discretionary.  Anticipated target grant date fair value of $8,000,000, commencing with the award made in 2015.

	Other Benefits
	•    You will have access to a car and driver for business purposes and for work/home travel purposes.

•    You will have access to corporate aircraft for personal travel, up to $100,000 in aggregate incremental cost each calendar year as calculated by the Company for disclosure purposes for the Summary Compensation Table of the Company’s Proxy Statement; provided that this amount and calculation methodology will be reviewed from time to time and subject to adjustment to reflect market trends.  The Company currently calculates incremental cost by adding the incremental variable costs associated with personal flights on the aircraft (including hourly charges, taxes, passenger fees, international fees and catering).

If the imputed income attributable to these benefits is taxable to you, then the taxes associated with this taxable income will not be reimbursed or paid by the Company.MMC 06.30.2014 10Q Ex_10.3

Exhibit 10.3

June 6, 2014

J. Michael Bischoff
[Address]
[City, State, Zip Code]

Subject:    Terms of Employment

Dear Mike:

This amendment to the Letter Agreement, dated November 21, 2013, between you and Marsh & McLennan Companies, Inc. (the “2013 Letter Agreement”) revises the terms and conditions of your employment by Marsh & McLennan Companies, Inc.  The 2013 Letter Agreement will continue to govern your employment, except as specified below, effective as of May 14, 2014:

		
	1.
	Exhibit A to the 2013 Letter Agreement shall be deleted and replaced in its entirety with the attached Exhibit A.

Please acknowledge your agreement with the terms of this letter agreement by signing and dating below and the enclosed copy and returning one executed document to me on or before June 20, 2014.

Sincerely,

/s/ Daniel S. Glaser
Daniel S. Glaser
President and Chief Executive Officer
Marsh & McLennan Companies, Inc.

Accepted and Agreed:

/s/ J. Michael Bischoff            
(Signature)        

June 9, 2014                
(Date)

June 6, 2014
J. Michael Bischoff
Page 2

Exhibit A

 
	
		
	Annual Base Salary
	$750,000 (effective April 1, 2014)

	Annual Target Bonus Opportunity
	Bonus awards are discretionary.  Anticipated target bonus of $1,250,000 commencing with the 2013 performance year (awarded in 2014).  Actual bonus may range from 0% - 200% of target, based on achievement of individual performance objectives, and/or Marsh & McLennan Companies’ performance as Marsh & McLennan Companies may establish from time to time.

	Annual Target Long Term Incentive Opportunity
	Long-term incentive awards are discretionary.  Anticipated target grant date fair value of $1,000,000, commencing with the award made in 2015.MMC 06.30.2014 10Q Ex_10.4

Exhibit 10.4

June 6, 2014

Peter Zaffino
[Address]
[City, State, Zip Code]

Subject:    Terms of Employment

Dear Peter:

This amendment to the Letter Agreement, dated November 21, 2013, between you and Marsh & McLennan Companies, Inc. (the “2013 Letter Agreement”) revises the terms and conditions of your employment by Marsh & McLennan Companies, Inc.  The 2013 Letter Agreement will continue to govern your employment, except as specified below, effective as of May 14, 2014:

		
	1.
	Exhibit A to the 2013 Letter Agreement shall be deleted and replaced in its entirety with the attached Exhibit A.

Please acknowledge your agreement with the terms of this letter agreement by signing and dating below and the enclosed copy and returning one executed document to me on or before June 20, 2014.

Sincerely,

/s/ Daniel S. Glaser
Daniel S. Glaser
President and Chief Executive Officer
Marsh & McLennan Companies, Inc.

Accepted and Agreed:

/s/ Peter Zaffino            
(Signature)        

June 10, 2014                
(Date)

June 6, 2014
Peter Zaffino
Page 2

Exhibit A

 
	
		
	Annual Base Salary
	$1,000,000 (effective April 1, 2014)

	Annual Target Bonus Opportunity
	Bonus awards are discretionary. Anticipated target bonus of $2,250,000 commencing with the 2014 performance year (awarded in 2015). Actual bonus may range from 0% - 200% of target, based on achievement of individual performance objectives, Marsh’s performance and/or Marsh & McLennan Companies’ performance as Marsh & McLennan Companies may establish from time to time.

	Annual Target Long Term Incentive Opportunity
	Long-term incentive awards are discretionary.  Anticipated target grant date fair value of $3,000,000, commencing with the award made in 2015.MMC 06.30.2014 10Q Ex_10.5

Exhibit 10.5

June 6, 2014

Julio A. Portalatin
[Address]
[City, State, Zip Code]

Subject:    Terms of Employment

Dear Julio:

This amendment to the Letter Agreement, dated November 21, 2013, between you and Marsh & McLennan Companies, Inc. (the “2013 Letter Agreement”) revises the terms and conditions of your employment by Marsh & McLennan Companies, Inc.  The 2013 Letter Agreement will continue to govern your employment, except as specified below, effective as of May 14, 2014:

		
	1.
	Exhibit A to the 2013 Letter Agreement shall be deleted and replaced in its entirety with the attached Exhibit A.

Please acknowledge your agreement with the terms of this letter agreement by signing and dating below and the enclosed copy and returning one executed document to me on or before June 20, 2014.

Sincerely,

/s/ Daniel S. Glaser
Daniel S. Glaser
President and Chief Executive Officer
Marsh & McLennan Companies, Inc.

Accepted and Agreed:

/s/ Julio A. Portalatin            
(Signature)        

June 9, 2014                
(Date)

June 6, 2014
Julio A. Portalatin
Page 2

Exhibit A

 
	
		
	Board or Committee Memberships
	Hofstra University Board of Trustees

	Annual Base Salary
	$900,000 (effective April 1, 2014)

	Annual Target Bonus Opportunity
	Bonus awards are discretionary.  Anticipated target bonus of $1,700,000 commencing with the 2013 performance year (awarded in 2014).  Actual bonus may range from 0% - 200% of target, based on achievement of individual performance objectives, Mercer’s performance and/or Marsh & McLennan Companies’ performance as Marsh & McLennan Companies may establish from time to time.

	Annual Target Long Term Incentive Opportunity
	Long-term incentive awards are discretionary.  Anticipated target grant date fair value of $2,000,000, commencing with the award made in 2015.MMC 06.30.2014 10Q Ex_10.6

Exhibit 10.6

June 6, 2014

Alexander Moczarski
[Address]
[City, State, Zip Code]

Subject:    Terms of Employment

Dear Alex:

This amendment to the Letter Agreement, dated November 21, 2013, between you and Marsh & McLennan Companies, Inc. (the “2013 Letter Agreement”) revises the terms and conditions of your employment by Marsh & McLennan Companies, Inc. The 2013 Letter Agreement will continue to govern your employment, except as specified below, effective as of May 14, 2014:

		
	1.
	Exhibit A to the 2013 Letter Agreement shall be deleted and replaced in its entirety with the attached Exhibit A.

Please acknowledge your agreement with the terms of this letter agreement by signing and dating below and the enclosed copy and returning one executed document to me on or before June 20, 2014.

Sincerely,

/s/ Daniel S. Glaser
Daniel S. Glaser
President and Chief Executive Officer
Marsh & McLennan Companies, Inc.

Accepted and Agreed:

/s/ Alexander Moczarski        
(Signature)        

June 11, 2014                
(Date)

June 6, 2014
Alexander Moczarski
Page 2

Exhibit A

 
	
		
	Board or Committee Memberships
	•    British-American Business Association (BABA)
•    International Insurance Society (IIS)
•    Bayard

	Annual Base Salary
	$800,000

	Annual Target Bonus Opportunity
	Bonus awards are discretionary. Anticipated target bonus of $1,500,000 commencing with the 2013 performance year (awarded in 2014). Actual bonus may range from  0% - 200% of target, based on achievement of individual performance objectives, Guy Carpenter’s performance and/or Marsh & McLennan Companies’ performance as Marsh & McLennan Companies may establish from time to time.

	Annual Target Long Term Incentive Opportunity
	Long-term incentive awards are discretionary. Anticipated target grant date fair value of $1,500,000, commencing with the award made in 2015.

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