Document:

Exhibit 10.28

EMPLOYMENT AGREEMENT

 

Agreement made effective as of January 24, 1994 by
and between Willis Faber North America, Inc. (“WFNA”), a New York corporation which is a
direct wholly-owned  subsidiary of
Willis Corroon Corporation (“WCC”), a Delaware corporation, and Peter C. Hearn of Fort Washington, PA (“Hearn”).

 

WHEREAS, WFNA is engaged in the reinsurance intermediary
business throughout the United States of America, and

 

WHEREAS, WFNA is an indirect wholly-owned subsidiary of
Willis Corroon Group, plc, (“WCG”) an English corporation which, through
subsidiaries, is engaged in the risk management, insurance brokerage and
reinsurance intermediary business  throughout the world, and

 

WHEREAS, WFNA desires to employ
Hearn and Hearn desires to be employed by WFNA,

 

NOW THEREFORE, in consideration
of the mutual covenants and promises contained herein, the parties hereby agree
as follows:

 

1.                                             DUTIES

 

WFNA agrees to employ Hearn as
Senior Vice President, reporting to the Chairman and Chief Executive Officer of
WFNA, and Hearn accepts such employment. Hearn agrees to devote his full time
and best efforts to such position and to the related business interests of the
other subsidiary corporations of WCG.

 

2.                                             COMPENSATION

 

As full compensation for all
services to be rendered by Hearn pursuant to and during the term of this
Agreement, WFNA shall compensate Hearn as follows:

 

A.                                   A base salary at a rate of not less than $200,000 per year, payable in
equal semi-monthly installments. This base salary shall be reviewed annually
on the normal review date for employees of
WFNA.

 

B.                                     Hearn shall also be eligible for an annual bonus based on a production
incentive plan to be determined by WFNA and which is mutually agreed upon by
the participants. Any change in the production incentive plan shall also
require mutual agreement. For calendar year 1994, Hearn’s bonus shall be not
less than $100,000; for calendar year 1995, Hearn’s  bonus shall not be
less than $100,000; and for calendar year 1996, Hearn’s bonus shall not be less than $125,000.

 

 

C.                  Hearn shall be
entitled to the employee benefits generally made available to employees of
WFNA, which shall be those employees benefits generally available to all
employees of WCC, such as group life, medical and disability insurance, paid
vacation, a pension plan and a savings plan, all on the same terms and
conditions as such benefits generally are made available to employees of WCC.
Hearn shall also be given an auto allowance in accordance with WFNA’s standard
company car policy.

 

3.                                         Non-Competition

 

A.                                   All reinsurance
intermediary business transacted through the efforts of Hearn shall be the sole
property of WFNA and/or any company affiliated with WFNA (“Affiliate”) and
Hearn shall have no right to share in any commissions or fees resulting from
the conduct of such business other than the compensation referred to in Section 2
hereof.

 

B.                                     Hearn
recognizes and acknowledges that in the course of his employment by WFNA and
particularly by virtue of his position as a Senior Vice President of WFNA he
will have access to confidential information of WFNA and its Affiliates
relating to persons, firms and corporations which are clients of WFNA and/or
its Affiliates, for which clients WFNA and/or its Affiliates act as a
reinsurance intermediary and perform other related services. This confidential
information includes, but is not limited to, names of companies reinsured under
any reinsurance agreement arranged through the intermediary of WFNA and/or its
Affiliates as well as the names of reinsurers accepting liability under such
agreements, the terms and conditions, including attachment and expiration
dates, of such reinsurance agreements, the experience of reinsureds and
reinsurers under such agreements and the type of reinsurance program arranged
by WFNA and/or its Affiliates for a reinsured. Hearn acknowledges that he will
be given access to such confidential information only for the purpose of
furthering the business interests of WFNA and its Affiliates and not for any
personal benefit. Hearn agrees that he will not, without the prior written
consent of WFNA, during the term of his employment by WFNA and for twenty-four
(24) months thereafter, except as may be
required in the course of his employment hereunder:

 

(i)                                     directly or indirectly
communicate, divulge or otherwise disclose any such confidential information to
any person, firm or corporation, except as may be reasonably necessary or
appropriate in connection with the performance  by Hearn of his
duties hereunder, and except for such disclosure as may be required or
protected by law, court order or contract and except for such disclosure as
Hearn believes in good faith upon
advice of counsel

 

 

2

 

would
subject WFNA, any affiliate, Hearn, or another Officer, Director or employee of
WFNA or any Affiliate to civil or criminal liability or prosecution if not
made;

 

(ii)                                  use any such confidential
information for the purpose of inducing or attempting to induce any client of
WFNA and/or its Affiliates to become a reinsurance intermediary client of
Hearn, or of any firm or corporation with which Hearn is affiliated in any
capacity;

 

(iii)                               a.                                       directly or indirectly solicit or accept any
treaty reinsurance intermediary business from any person, firm or corporation
for which WFNA’s Eastern Region acted as reinsurance intermediary during the twelve (12)
months immediately preceding the termination of Hearn’s employment;

 

                                                b.                                      directly or indirectly solicit or accept
reinsurance consulting business from any person, firm or corporation for which
WFNA’s Eastern
Region acted as a reinsurance intermediary or a reinsurance consultant during
the twelve (12) months immediately preceding termination of Hearn’s employment;
or

 

(iv)                              a.                                       directly or
indirectly solicit or accept any treaty reinsurance intermediary business from any person, firm or corporation
for which any Affiliate acted as reinsurance intermediary during the twelve
(12) months immediately preceding the termination of Hearn’s employment and
with which Hearn has had substantial business contacts during his employment by
WFNA;

 

                                                b.

 

                                                c.                                       directly or
indirectly solicit or accept reinsurance consulting business from any person, firm or corporation for which
any Affiliate acted as a reinsurance consultant during the twelve (12) months
immediately preceding the termination of Hearn’s employment and with which
Hearn has had

 

3

 

 

                                                                                                substantial
business contacts during his employment by WFNA.

 

C.                                     Hearn agrees
that upon leaving WFNA’s employ he will not take with him, without the prior
written consent of an Officer authorized to act in that manner by the Board of
Directors of WFNA, and he will surrender to WFNA, any records or other
documents or property of WFNA, its subsidiaries and affiliates, together with
any other material which is of a confidential nature relating to WFNA, its
subsidiaries and affiliates.

 

D.                                    Hearn agrees
that upon the actual or threatened breach or violation of the commitments and
obligations contained in Sections 3, 4 and 5 hereof, WFNA shall be entitled to seek both preliminary and permanent injunctive
relief, in any action or proceeding brought in an appropriate court having
jurisdiction over Hearn, to restrain him from committing any violation of said
commitments and obligations.

 

4.                                       Hearn agrees
that so long as he is working for WFNA he will not undertake any business
activity or the planning or organizing of any business activity competitive
with the work he performs for WFNA.

 

5.                                       Hearn agrees that he
will not, for a period of twenty-four (24) months following termination of
employment with WFNA, directly or indirectly, solicit any of WFNA’s and/or its’
Affiliates employees to work for Hearn or any company competitive with WFNA
and/or its’ Affiliates.

 

6.                                       Term of
Agreement

 

A.                                   Hearn’s
employment pursuant to this Agreement commenced January 24, 1994.

 

B.                                     Hearn’s
employment pursuant to this Agreement shall terminate on the earlier of:

 

(i)                                     the voluntary termination by
Hearn of his employment;

 

(ii)                                  the death of Hearn or the
permanent disability of Hearn (as that term is defined in WCC’s Long Term
Disability Plan);

 

(iii)                               the discharge of Hearn by
WFNA for “Good Cause”; for purposes of this Agreement, “Good Cause” shall mean
chronic absenteeism, chronic inattention to duties, gross negligence or gross
misconduct in the performance of his duties hereunder, material dishonesty in
the conduct of the business of WFNA or the violation by Hearn of any of the
provisions of Sections 3, 4 and 5 hereof;

 

 

4

 

(iv)                              upon thirty days prior
written notice of termination given by WFNA to Hearn.

 

C.                                     In the event of
the termination of Hearn’s employment for the reasons stated in Section 6.B,
WFNA shall have no further obligation to make any payments to Hearn accruing
with respect to any period after the date of the termination of Hearn’s
employment, except payments due or to become due to Hearn under WCC’s qualified
employee benefit plans. It is expressly understood and agreed that if Hearn’s
employment with WFNA terminates, Hearn shall not be entitled to any bonus which
becomes due and payable after such termination of employment occurs, provided
however, that Hearn shall be entitled to a pro rata portion of his annual bonus
for any year in which Hearn’s employment terminates for the reasons stated in
Sections 6.B.(ii) and 6.B.(iv) of this Agreement.

 

D.                                    In the event
that WFNA desires to terminate Hearn’s employment pursuant to Section 6.B.(iii),
it shall first give Hearn written notice of such intention stating the specific
reasons for the termination and Hearn shall have thirty (30) days from the
receipt of such notice to cure the alleged wrongdoing to the reasonable
satisfaction of WFNA.

 

E.                                      In the event
that WFNA desires to terminate employment pursuant to Section 6.B.(iv),
WFNA agrees to release Hearn from obligations stipulated in Section 3.B.(iii) and
Section 3.B.(iv).

 

7.                                          Miscellaneous

 

A.                                   WFNA shall
indemnify Hearn against any liability, loss or expense, including attorneys
fees incurred by him, as a result of any third-party claim relating to or
arising out of the performance of Hearn’s duties pursuant to this Agreement and
the termination of his employment relationship with his immediately preceding
employer.

 

B.                                     The waiver by
WFNA of any breach of any provision of this Agreement by Hearn shall not
operate or be construed as a waiver of
any subsequent breach by Hearn.

 

C.                                     The waiver by
Hearn of any breach of any provision of this Agreement by WFNA shall not
operate or be construed as a waiver of any subsequent breach by WFNA.

 

D.                                    The rights and
obligations of WFNA under this Agreement shall inure to the benefit of and
shall be binding upon the successors and assigns of WFNA.

 

 

5

 

E.                                      In the event
that any provision hereof shall be rendered illegal or unenforceable, such
event shall not affect the validity or enforceability of the other provisions
hereof. In the event that any of the restrictions set forth in Sections 3, 4
and 5 above cannot be legally enforced for the period of time specified herein,
such fact shall not affect the applicability of such restrictions for a
reasonable period of time. In the event of any legal proceeding to determine
the rights and liabilities of the parties pursuant to this Agreement, the
parties hereto agree that this Agreement may be modified, amended or reformed
by the tribunal conducting such legal proceeding for the purpose of best
effectuating the purposes of this Agreement and as needed to be reasonable and
enforceable under applicable law.

 

F.                                           Any notice
hereunder shall be given in writing and sent by registered mail, return receipt
requested, with postage prepaid and if to Hearn at:

 

Peter
C. Hearn

7021 Lafayette Avenue

Fort Washington, PA 19034

 

and
if to WFNA or WCC to:

 

Willis
Faber North America, Inc.

Attention: James F. Dowd

Chairman and Chief Executive Officer

2777 Summer Street

6th Floor

Stamford, CT 06905

 

with
copy to:

 

Willis
Faber North America, Inc.

Attention: Orren Beth Falk, Esq.

Senior Vice President and General Counsel

940 Golf House Road West

Stoney Creek, NC 27377

 

Willis
Corroon Corporation

Attention: Larry W. Taylor

Vice President of Human Resources - NA.

26 Century Boulevard

Nashville, TN 37214

 

 

6

 

G.                                     This Agreement
shall be governed by and construed under the laws of the State of Pennsylvania.

 

H.                                    This document
contains the entire Agreement of the parties, expressly supersedes all prior
agreements and understandings and may not be changed except in a written
modification signed by all parties or pursuant to Section 7.D.

 

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

 

	
   

  	
  

  
	
   

  	
  Peter C. Hearn

  

 

 

	
   

  	
  WILLIS
  FABER NORTH AMERICA, INC,

  
	
   

  	
  BY:

  	
  

  
	
   

  	
   

  	
  Orren
  Beth Falk

  
	
   

  	
   

  	
  Senior
  Vice President & General Counsel

  

 

 

7Exhibit 10.29

 

 

Contract
of Employment

 

Private
and Confidential

 

 

Contract
of Employment

 

The
information contained in this document includes the requirement of a statement of the terms and conditions
of your employment in accordance with the Employment Rights Act 1996.

 

This
agreement is made on 10 November 2004 and is between

 

	
  Name

  	
   

  	
  David Margrett

  

 

and

 

	
  Company

  	
   

  	
  Willis Limited

  

 

The
main terms and conditions of your employment are set out below. For further
details of these and other matters including our Ethical Code, please refer to
the Global Policy manual and the Associate Handbook. For the avoidance of
doubt, the terms set out in this Contract of Employment take precedence over
the Global Policy Manual and the Associate Handbook and offer letter. The
contents of the Associate Handbook and Global Policy Manual do not form part of
your Contract of Employment, but are indicative of Company Policy and
Procedure. The Company reserves the right to vary these Policies and Procedures
from time to time.

 

	
  Date this Employment Begins:

  	
   

  	
  1
  December 2004

  
	
   

  	
   

  	
   

  
	
  Date Continuous

  	
   

  	
  6
  September 2004

  
	
  Employment Begins:

  	
   

  	
   

  
	
   

  	
   

  	
  Employment
  prior to this date with any previous employer does not count as part of your
  continuous employment with the Company. This date is not necessarily the date used to determine your
  entitlement to certain benefits.

  
	
   

  	
   

  	
   

  
	
  Current Job Title:

  	
   

  	
  Managing
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  You
  may be transferred to any other job in the Group which in the reasonable opinion of the Company would be suitable, on terms and conditions no less favourable
  than those set out in this document.

  
	
   

  	
   

  	
   

  
	
  Location:

  	
   

  	
  One
  Camomile Street, London

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  You
  may be transferred to any other office in the Group. Your agreement to such a
  transfer will be sought unless in the reasonable opinion of the Company, the
  transfer does not necessitate you having to move home address.

  
	
   

  	
   

  	
   

  
	
  Salary:

  	
   

  	
  £250,000
  per annum

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Your
  salary will be paid monthly in arrears by direct transfer to your bank account Your salary will be reviewed annually.

  

 

 

2

 

 

	
  Hours of Work:

  	
   

  	
  Your
  normal hours of work are 35 hours per week, 09:30 - 17:30, Monday to Friday
  each week (but excluding public holidays) or as agreed locally by Management
  and/or local practice.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Unless otherwise agreed, these hours shall include one
  hour for lunch to be taken at a time agreed with your Manager or
  Director.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  You will be expected to work such additional hours as
  necessary  to
  meet the demands of the business. You may also be required to vary the
  pattern of your working hours as necessitated by changing commercial needs,
  if in the reasonable opinion of the Company it is practicable for you to
  comply. Any additional hours worked are subject to the provisions of the Working
  Time Regulations 1998 and any amendment(s) to the Regulations thereof.

  
	
   

  	
   

  	
   

  
	
  Employment Obligations:

  	
   

  	
  During
  your working hours
  you must devote the whole of your time, attention and ability to the business
  of the Company and at all times you must promote the interest and general
  welfare of the Group.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Whilst
  this Contract is in force you may not take any outside employment or engage
  in any business without prior written agreement of your Partners Group Member
  nor may your additional employment render your total working time in breach of
  the Working Time Regulations.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  You
  are not permitted to engage in any activity, which might interfere with the
  performance of your duties or cause a conflict of interest.

  
	
   

  	
   

  	
   

  
	
  Duty of Confidence:

  	
   

  	
  During
  and after the termination of this Contract you must keep with inviolable
  secrecy and may not use for any purpose nor reveal to anyone (other than
  those whose province it is to know the same) any secret or confidential
  information entrusted to or discovered by you. This includes but is not
  limited to information concerning the Company’s business, operations,
  products, markets, trade secrets, technical know how, product formulations or
  techniques, names or lists of employees, Clients or Prospective Clients and
  their insurance or commercial affairs or any other matters pertaining to them
  and revealed to you in the course of
  your employment which has not come into the public domain. This duty applies
  without time limit.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  For
  further guidance, the provisions concerning Confidential Information are set
  out in full in the Global Policy Manual.

  
	
   

  	
   

  	
   

  
	
  Copyright, Inventions and Patents

  	
   

  	
  You
  must promptly disclose to the Company all ideas, concepts, works, methods,
  discoveries, improvements, inventions or designs which you create or produce
  either alone or with others (except those created or produced wholly outside working hours which are totally
  unconnected with your employment) (“the Works”). All and any rights of whatever nature in each such
  Work shall belong absolutely to the Company and you shall hold the same in
  trust for the Company until such proprietary rights shall be
  fully and absolutely vested in the Company. The Company shall be entitled to
  make such modifications or adaptations to or from any of the Works as it
  shall in its absolute discretion determine.

  

 

3

 

	
   

  	
   

  	
  You
  hereby assign to the Company with full title guarantee by way of assignment
  all present and future copyright, database rights, design rights (whether
  registered or unregistered) and other proprietary rights (if any) and all
  rights of action for damages for infringement of such rights for the full
  term thereof and any renewals and extensions thereof throughout the world and
  you hereby waive in favour of the Company all moral rights conferred on you
  by chapter 4 of part 1 of the Copyright Designs and Patents Act 1988 in
  relation to any of the Works and at the request and expense of the Company
  you shall do all things and execute all documents necessary or desirable to
  substantiate the rights of the Company in the Works.

  
	
   

  	
   

  	
   

  
	
  Other Obligations:

  	
   

  	
  If
  you are in grade 9 or above, and personally deal with any Client or Prospective Client in the course of your
  duties, you shall not without the prior
  written consent of the Company for a period of 12 months after the
  termination of your employment, other than after the wrongful termination of
  your employment by the Company, whether
  on  behalf of yourself or
  any other person, firm or company in competition with the Company or the
  Group, directly or indirectly:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (i)

  	
  solicit
  Business from; or

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (ii)

  	
  seek
  to procure orders from; or

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (iii)

  	
  transact or handle Business or otherwise deal with; or

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (iv)

  	
  approach,
  canvass or entice away from the Group the Business of

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  any
  Client of the Group with whom you have personally dealt in the course of your
  duties at any time during the 12 months prior to the termination of your
  employment. The period of this restriction shall be reduced after the date your employment ends by a period equal in
  length to any period of lawful suspension from your duties or
  exclusion from any promises of the Company during any period of notice.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The restrictions set out in sub paragraphs (i) and
  (ii) above shall apply as if the references to the
  “Prospective Client” were substituted for references to the “Client”.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  If you are in grade 9 or above, you shall not  for a period of 6 months
  after the lawful termination of your employment directly or indirectly induce
  or seek to induce any employee of the Group with whom you have worked in the
  12 months preceding the termination of your employment (excepting a clerical
  and secretarial employee) to leave its employment where the departure of that
  employee (whether alone or in conjunction with the departure of other
  employees who are members of a team in which you performed duties) would do
  material harm to the Group and where the departure is intended for the
  benefit of you or your new employer or any other organisation carrying on a business
  in competition with the Group.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Each
  of the above restrictions constitutes an entirely separate and distinct
  covenant and the invalidity or unenforceability of any such Covenant shall not
  affect the validity or enforceability of the remaining

  

 

4

 

	
   

  	
   

  	
  covenants.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The
  details of all your obligations are contained in the
  Global Policy Manual and the Associate Handbook and the terms herein should
  be read in conjunction with those in the Global Policy Manual and Associate
  Handbook.

  
	
   

  	
   

  	
   

  
	
  Pension Scheme:

  	
   

  	
  The
  Group operates the Willis Pension Scheme. Full details regarding the current eligibility conditions,
  contributions and benefits are provided in the Scheme Booklet. With
  effect from 1 April 2004 Associates joining the Group automatically join  the Scheme and by accepting this Contract authorise
  pension contributions to be deducted from
  salary, unless an opt out election is made.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Membership
  of the Scheme is subject to the Scheme Trust Deed and Rules. Benefits may be
  restricted by the limits set by the Inland Revenue. The employment of Scheme
  members is covered by a Contracting-out certificate.

  
	
   

  	
   

  	
   

  
	
  Absence from Work:

  	
   

  	
  Your
  entitlement to payments whilst you are absent from work, and the procedure
  that you should follow if you are unable to attend the office for any reason are contained in the Associate Handbook.

  
	
   

  	
   

  	
   

  
	
  Medical Examination:

  	
   

  	
  The
  Company reserves the right to require you at any time to submit yourself for
  examination by a doctor appointed by the Company at the Company’s expense.

  
	
   

  	
   

  	
   

  
	
  Holidays:

  	
   

  	
  Grades 1- 8 inclusive

  	
  23
  days per annum

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Grade 9 and above

  	
  25
  days per annum

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The
  holiday year runs from 1 January to 31 December. Holiday
  entitlement increases by 1 day for every year’s completed service at the
  previous 31 December up to a maximum of 25 days. Please refer to the
  Associate Handbook for your pro rata entitlement in year of joining and of
  leaving. Payment will be made for Public
  Holidays.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  For
  part-time staff, holiday entitlement and entitlement to payment for Public
  Holidays, is pro-rata, as outlined in the Associate Handbook.

  
	
   

  	
   

  	
   

  
	
  Employee Benefits:

  	
   

  	
  The  Details
  and eligibility rules of Employee Benefits to
  which you may be entitled are contained in the Associate
  Handbook.

  

 

5

 

	
  Termination of

  	
   

  	
  a)   You
  may terminate your employment by giving written notice as

  
	
  Employments:

  	
   

  	
  follows:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Grades 1 - 8 inclusive

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Up
  to 4 weeks continuous service

  	
  -
  1 week

  
	
   

  	
   

  	
  Over
  4 weeks continuous service

  	
  -
  4 weeks

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Grades 9 - 11 inclusive

  	
  - 3 months

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Grades 12 and above

  	
  - 12 months

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  b)   If your employment is terminated by the
  Company you will receive written notice as follows:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Grades 1 - 8 inclusive

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Up
  to 4 weeks continuous service

  	
  -  1 week

  
	
   

  	
   

  	
  Up
  to 4 years continuous service

  	
  -
  4 weeks

  
	
   

  	
   

  	
  From
  5 to 12 years continuous service

  	
  -
  1 week for each year of completed service

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Over
  12 years continuous service

  	
  -
  12 weeks

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Grades 9 - 11 inclusive

  	
  -
  3 months

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Grades 12 and above

  	
  -
  12 months

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  c)   This agreement will
  automatically terminate on the Normal Retirement Date under the Rules of
  the Willis Pension Scheme.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  d)   The Company shall not be
  obliged to provide you with work at any time after the notice of termination
  is given by either party and the Company may in its absolute discretion take
  one of more of the following steps in respect of all or part of the unexpired
  period of notice (provided that this shall not amount to more than 6 months
  if the notice period is longer):

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  i)

  	
  require
  you to comply with such conditions as the Company may specify in relation to
  attending or remaining away from the place of business of the Company;

  
	
   

  	
   

  	
   

  	
  ii)

  	
  Assign
  you to such other duties as the Company shall in its absolute discretion
  determine;

  
	
   

  	
   

  	
   

  	
  iii)

  	
  Withdraw
  any powers invested in you or suspend or vary any duties or responsibilities
  assigned to you.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  e)   On
  termination of the Contract for whatever reason you must return to the
  Company all reports, documents, computer disks, working papers and any other
  information (in whatever form) received in the course of your employment. In
  addition all other Group property must be returned.

  
						

 

6

 

	
  Company Procedures:

  	
   

  	
  The
  Associate Handbook and the Global Policy Manual contain details of the
  Company Procedures affecting your terms and conditions of employment,
  including our Ethical Code, the Equal Opportunities Policy, Performance
  Improvement, Disciplinary, Appeals and Grievance procedures which should be
  read in conjunction with your Contract of Employment. You are specifically
  advised that it is your responsibility to comply with the Company’s policies,
  rules and procedures as varied or supplemented by it from time to time.
  Failure to comply with the Company’s policies, rules and procedures will
  be a disciplinary offence and be dealt with in accordance with the Company’s
  disciplinary procedure.

  
	
   

  	
   

  	
   

  
	
  Data Protection:

  	
   

  	
  In
  order to meet statutory requirements, the Company, as your employer, is
  required to collect, process and retain information, which the Data
  Protection Act 1998 defines as sensitive personal data. By signing this
  Contract you are expressly agreeing to the Company collecting, processing and
  retaining the following information relating to:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  a)

  	
  Ethnic
  origin - to ensure equality of opportunity;

  
	
   

  	
   

  	
  b)

  	
  Physical
  or mental health or condition - as part of sickness records;

  
	
   

  	
   

  	
  c)

  	
  Disabilities
  - to facilitate adaptations in the workplace; and

  
	
   

  	
   

  	
  d)

  	
  Criminal
  convictions - to comply with the Rehabilitation of Offenders Act.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  This
  information, which will be held securely by Human Resources and, where
  applicable, Occupational Health departments, is processed in accordance with
  the principles set out in the Data Protection Act. You have the right to
  inspect such information and, if necessary, require corrections to be made if
  the information held about you is inaccurate. Should you wish to inspect or
  amend any sensitive personal data held about you, then please contact Human
  Resources.

  
	
   

  	
   

  	
   

  
	
  Collective Agreements:

  	
   

  	
  There
  are no collective agreements in force that will affect your

  employment with the Group.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

This
Agreement or attachments to this agreement supersedes any existing or prior
arrangements between you and the Company or any subsidiary or associated
Company of Willis Limited. In the event of differing terms, this Contract of
Employment will prevail.

 

 

7

 

Definitions:

 

For
the purposes of this contract  the following definitions
shall apply:

 

“Group”
means the Company and any holding company or subsidiaries of the Company or any
such holding company front time to time.

 

“Client”
means any person, firm, company or other organisation who or which as at the
date your employment terminates or at any time during the 12 months prior to
that date:

i)                                             gives or is in
the habit of giving instructions directly or through an Intermediary to the
Company or any other company in the Group concerning the Business; or

ii)                                          is supplied or
is in the habit of being supplied directly by the Company or any company in the
Group or indirectly through an Intermediary with services relating to the
Business; or

iii)                                       is an insured
or reassured or an Intermediary having influence over the introduction or facilitation
or securing of the Business with the Company or any other company in the Group.

 

“Business”
means the business of a type carried on by the Company or by any other company
in the Group at the date your employment terminates, including but not limited
to the placing or broking of insurance or reinsurance world-wide and ancillary
services, the provision of risk management
or risk transfer advice or due diligence on mergers and acquisitions.

 

“Intermediary”
means any person, firm or company by or through or with whom or which the
Business is introduced and/or facilitated on behalf of an insured or reassured
whether or not such intermediary derives any financial benefit from the
arrangement.

 

“Prospective
Client” means any person, firm, company or other organisation engaged in
substantive negotiations (which have not yet finally been concluded) with the
Company or with any other company in the Group in the 12 month period up to the
date your employment terminates
for the supply of services by the Company or any other company in the Group in relation to the Business.

 

“Global
Policy Manual” means the Willis Group Holdings Limited Global Policy Manual.

 

Signed for and on behalf of the Company:

 

 

I
have read and understood the Terms and Conditions stated in the Contract of
Employment document and I confirm my acceptance of them.

 

 

 

8

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