Document:

KAMN - 12.31.2013 EX 10.15

Exhibit 10.15
THIRD AMENDMENT TO
KAMAN CORPORATION EMPLOYEES STOCK PURCHASE PLAN
(As Amended and Restated Through October 12, 2010)

THIS AMENDMENT made by Kaman Corporation for the purpose of amending the Kaman Corporation Employees Stock Purchase Plan,
WITNESSETH:
WHEREAS, Kaman Corporation (the “Corporation”) originally adopted the Kaman Corporation Employees Stock Purchase Plan on February 28, 1989, which has been amended and restated from time to time, including most recently through October 12, 2010, and further amended by a First Amendment dated February 20, 2012, and a Second Amendment dated February 21, 2013 (as amended and restated, the “Plan”); and

WHEREAS, the Corporation reserved the right, in Section 21 of the Plan, to amend the Plan; and

WHEREAS, the Corporation now wishes to amend the Plan in the particulars set forth below; and

NOW, THEREFORE, the Corporation hereby amends the Plan as follows, as of January 1, 2014, in the following particulars:

1.    The words “prior year commissions” shall be deleted where they appear in Sections 6 and 10 and replaced with the words “commissions paid during the current year”.

EXCEPT AS AMENDED HEREIN, the terms, conditions and provisions of the Plan as amended are confirmed and remain unchanged.

IN WITNESS WHEREOF, Kaman Corporation has caused this Amendment to be executed on its behalf by its duly authorized officer this 12th day of December, 2013.

ATTEST:                            KAMAN CORPORATION
	
					
	By:
	/s/ Shawn G. Lisle
	 
	By:
	/s/ Robert D. Starr

	 
	Shawn Lisle
	 
	 
	Robert D. Starr

	 
	Senior Vice President, General
	 
	 
	Senior Vice President and Chief

	 
	Counsel and Assistant Secretary
	 
	 
	Financial OfficerKAMN - 12.31.2013 EX 10.20

Exhibit 10.20
SECOND AMENDMENT TO KAMAN CORPORATION
POST-2004 DEFERRED COMPENSATION PLAN
THIS AMENDMENT made by Kaman Corporation for the purposes of amending the 
Kaman Corporation Post-2004 Deferred Compensation Plan,
WITNESSETH:
WHEREAS, by written plan instrument effective January 1, 2005, Kaman Corporation (the “Corporation”) adopted the Kaman Corporation Post-2004 Deferred Compensation Plan (“Plan”); and
WHEREAS, the Corporation reserved the right, in Section 9.2 thereof, to amend the Plan; and
WHEREAS, the Corporation previously amended the Plan by a First Amendment thereto, dated February 20, 2012; and
WHEREAS, the Corporation now wishes to further amend the Plan in the particulars set forth below.
NOW THEREFORE, the Corporation hereby amends the Plan as follows, effective as of November 1, 2013 (except as noted below), in the following particulars:
1.    Section 4.2 is amended in its entirety to read as follows:
“With respect to remuneration earned by a Participant on or after January 1, 2014 that is deferred by a Participant under this Plan (and any interest on such deferred amount), such Participant shall have a one-time opportunity to elect the time and form of payment of his Account Balance upon Retirement.  As part of this payment election, the Participant shall indicate a permissible form of payment under Section 4.1 and whether distribution of that form of payment shall commence (i) on the first business day of the sixth month following the date the Participant Retires, or (ii) on the later of (A) the first business day of the sixth month following the date the Participant Retires or (B) the second business day of the January next following the date the Participant Retires.  Such election must be made as part of the first deferral election made on or after November 1, 2013 and shall become irrevocable on December 31 of the year in which it is made.  The election shall be made on a form prescribed for this purpose by the Committee from time to time.  Any payment election under this Section 4.2 may provide for a different time and form of payment upon Retirement with respect to elective deferrals of Annual Salary and Bonus under Section 3 and non-elective supplemental deferred compensation under Section 6A below.”
2.    The introductory sentence of Section 4.3 is amended in its entirety to read as follows:
“A Participant may change his or her election to an allowable alternative method of payment any time or any number of times for the purpose of further deferring or lengthening the period of distribution under this Section 4 as may be permitted by the Committee from time to time provided the following requirements are met:”
3.    Section 5.1 is amended in its entirety to read as follows:
“In connection with each Deferral Election made for a Plan Year commencing on or after January 1, 2014, a Participant may specify in an Election Form to receive payment of all or a specified portion of the Deferral Amount for that Plan Year plus any interest credited thereon upon a specified distribution date during a later Plan Year.  The Plan Year specified for a Deferral Amount must be more than two years after the year in which the Participant earns the Deferred Amount (i.e., Base 

Salary and Bonus that are earned during the 2014 Plan Year may be deferred to a Plan Year beginning on or after January 1, 2017).  Any distribution under Section 5.1 shall be made in a lump sum no later than thirty (30) days after the lapse of the specified distribution date in the Election Form (or, if earlier, at the time provided in Section 4.2, 5.2 or 5.3 of the Plan, as applicable; provided, however, that no interest shall be credited on the Account Balance for any period after the last day of the last Plan Year in the lapse period.  No Participant shall be permitted to have outstanding Deferred Amounts scheduled to be paid under this Section 5.1 during more than five Plan Years at any one time, disregarding any elections made prior to 2014.  A Participant who has made a “lapse of years” election pursuant to this Section 5.1 may change his election as may be permitted by the Committee from time to time and in all events at least twelve months prior to the date on which such payments would otherwise have commenced and in compliance with the subsequent payment election rules under Section 4.3.”
4.    Effective February 23, 2010, Section 6A.1 is amended in its entirety to read as follows:
“The Corporation shall pay Supplemental Deferred Compensation to each Participant.  The amount of the Supplemental Deferred Compensation shall be ten percent (10%) of the amount by which the Participant’s Eligible W-2 Earnings for the most recently concluded calendar year exceed the compensation limit set forth in Section 401(a)(17) of the Code, as in effect for such year.  The Supplemental Deferred Compensation shall be calculated within ninety (90) days after the close of the Plan Year and shall be credited to the Participant’s Account Balance as of January 1 of the succeeding Plan Year to each such Participant employed on said date.  Interest shall be credited on said amount thereafter in accordance with Section 3.4.”
5.    Effective February 23, 2010, a new Section 11.18 is added and existing sections appropriately renumbered:
“11.18   “Eligible W-2 Earnings” means the amount of compensation paid to a Participant by an Employer before death, Disability or termination of employment which is subject to federal income tax withholding as reported on Form W-2,
(a)    increased by contributions representing a reduction of salary or wages under Section 125 (relating to cafeteria plans) or 401(k) of the Code made to a plan maintained by an Employer in the year in which earned, and 
(b)    excluding:
(i)    Any amounts includible in compensation that are derived from or attributable to any equity or long-term incentive plan, including but not limited to stock options, restricted stock and restricted stock units; and
(ii)    Any portion of a salesman’s commission considered or identified as travel reimbursement or travel allowance; and
(iii)    The cost or value of any fringe benefit includible in gross income under any present or future Code provision such as, but not limited to, group life or other life insurance, group health insurance, the personal use of a company car, or tuition reimbursement; or a cash payment which is includible in income but which does not represent compensation for performance of job responsibilities such as, but not limited to, payments made under any plan, program, arrangement or agreement of the Corporation for severance, salary continuation, relocation expenses, or an attendance bonus or award.

For purposes of this Section 11.18, an “Employer” shall mean the Corporation and any member of a controlled group of corporations, as defined in Section 414(b) of the Code, of which the Corporation is a member.”
EXCEPT AS AMENDED HEREIN, the terms of the Plan as amended are confirmed and remain unchanged.
IN WITNESS WHEREOF, Kaman Corporation has caused this Second Amendment to be executed on its behalf by its duly authorized officer this 12th day of December, 2013.
ATTEST:                            KAMAN CORPORATION
	
					
	By:
	/s/ Shawn G. Lisle
	 
	By:
	/s/ Robert D. Starr

	 
	Shawn G. Lisle
	 
	 
	Robert D. Starr

	 
	Senior Vice President, General
	 
	 
	Senior Vice President and Chief

	 
	Counsel and Assistant Secretary
	 
	 
	Financial OfficerMMC-12.31.2013 Ex10.63

Exhibit 10.63
November 21, 2013

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

Subject:    Terms of Employment

Dear Mike:

This letter agreement is intended to set forth the terms of your continued employment by Marsh & McLennan Companies, Inc. (“Marsh & McLennan Companies” or the “Company”) as its Chief Financial Officer.  This position currently reports to the President and Chief Executive Officer (the “Chief Executive Officer”) of the Company.  Your current principal work location is in New York, NY.  The terms of this letter agreement are effective as of March 20, 2013.

		
	1.
	Duties and Responsibilities

You will continue to devote all of your attention and time during working hours to the affairs and business of the Company and use your best efforts to perform such duties and responsibilities as shall be reasonably assigned to you by the Chief Executive Officer and are consistent with your position.  In addition, you agree to serve, without additional compensation, as an officer and director for any member of the Affiliated Group.  For purposes of this letter agreement, the term “Affiliated Group” means Marsh & McLennan Companies and any corporation, partnership, joint venture, limited liability company, or other entity in which Marsh & McLennan Companies has a 10% or greater direct or indirect interest.  Except as you have previously disclosed to me, you may not serve on corporate, civic or charitable boards or committees without the prior written consent of Marsh & McLennan Companies. 
    
		
	2.
	Compensation and Benefits

Your compensation and benefits are as set forth below and in Exhibit A.

		
	a.
	Annual Base Salary:  You will receive an annual base salary of the amount set forth on Exhibit A, payable in installments in accordance with the Company’s payroll procedures in effect from time to time.  Your base salary includes compensation for all time worked, as well as appropriate consideration for sick days, personal days, and other time off.  Your base salary will be considered for adjustment in succeeding years as part of the Company’s normal performance management process.  

    

November 21, 2013
J. Michael Bischoff
Page 2

		
	b.
	Vacation:  You are entitled to 5 weeks of vacation annually, in accordance with our Company policy.

		
	c.
	Annual Bonus:  You are eligible for an annual bonus on the terms set forth on Exhibit A.  Bonus awards are discretionary and may be paid in the form of cash, deferred cash or Marsh & McLennan Companies stock units, or a combination thereof.  Except as provided in this paragraph and in Section 3(a), to qualify for an annual bonus, you must remain continuously and actively employed by the Company, without having tendered a notice of resignation, through the date of the bonus payment, in accordance with the terms and conditions of the award.  The annual bonus shall be paid no later than March 15 of the year following the year for which such bonus is earned.  In the event you terminate your employment with the Company after attaining age 65 and your termination of employment does not entitle you to receive severance benefits under Article 5 of the Senior Executive Severance Plan (as defined in Section 3(a)), the Company shall pay you a prorated annual bonus that shall (i) be based on the portion of the year elapsed as of the date of your termination determined by prorating (x) an amount determined based on the degree of achievement of goals at year-end under the bonus program in effect on the date of your termination, except that should any goals be of a subjective nature, the degree of achievement thereof shall be determined by the Compensation Committee of the Marsh & McLennan Companies Board of Directors (“Compensation Committee”) in its sole discretion or (y) if a Change in Control (as defined in the Marsh & McLennan Companies’ 2011 Incentive and Stock Award Plan) has occurred, your target annual bonus for the calendar year in which the date of your termination occurs; (ii) not exceed the amount calculated for you under the MMC Senior Management Incentive Compensation Plan and (iii) be payable at the same time as annual bonuses for the year are paid to the Company’s senior executives generally and in no event later than March 15 of the year following the year in which the date of your termination occurs; provided that, prior to the date of payment, you have executed and delivered to the Company a valid confidential waiver and release of claims agreement (including restrictive covenants) in a form satisfactory to the Company (the “Release”) and such Release has become irrevocable as provided therein.  In the event of your Permanent Disability (as defined below) or death, the Company shall pay you (or your estate in the case of death) a prorated target annual bonus for the year in which your termination occurs based on the portion of the year elapsed as of the date of your termination.  Any such bonus amount shall be paid within 30 days of your death.  In the event of your Permanent Disability, your prorated annual bonus payment is conditioned upon, and subject to, your execution and delivery to the Company within 30 days of the date of such event a Release and such Release has become irrevocable as provided therein (the “Release Effective Date”).  Payment of any such annual bonus amount shall then be paid within 30 days following the Release Effective Date, but in no event later than March 15 of the year following the year for which such bonus is earned.

November 21, 2013
J. Michael Bischoff
Page 3

As used in this letter agreement, “Permanent Disability” will be deemed to occur when it is determined (by Marsh & McLennan Companies’ disability carrier for the primary long-term 
disability plan or program applicable to you because of your employment with the Company) that you are unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months.

		
	d.
	Annual Long-Term Incentive Compensation:  You are eligible to participate in Marsh & McLennan Companies’ long-term incentive program with a target long-term incentive compensation award as set forth on Exhibit A. Long-term incentive awards are discretionary and are governed by terms and conditions approved by the Compensation Committee as set forth in the award agreement and in Marsh & McLennan Companies’ 2011 Incentive and Stock Award Plan (or other plan under which the long-term incentive award is granted).  In accordance with Company practice, you may be required to enter into a “Restrictive Covenants Agreement” in connection with long-term incentive awards.

		
	e.
	Benefit Programs:  You and your eligible family members will continue to have the opportunity to participate in the employee benefit plans, policies and programs provided by Marsh & McLennan Companies, on such terms and conditions as are generally provided to similarly situated employees of the Company.  These plans may include retirement, savings, medical, life, disability, and other insurance programs as well as an array of work/life effectiveness policies and programs.  Please be aware that nothing in this letter agreement shall limit Marsh & McLennan Companies’ ability to change, modify, cancel or amend any such policies or plans. In addition, you will continue to be eligible to participate in the Marsh & McLennan Companies Executive Financial Services Program, as in effect from time to time.  

		
	3.
	Termination of Employment

		
	a.
	You have been designated as a “Key Employee” under the Marsh & McLennan Companies, Inc. Senior Executive Severance Pay Plan (the “Senior Executive Severance Plan”).  In the event that your employment with the Company terminates for any reason, the Senior Executive Severance Plan in effect at the time of your termination will exclusively govern the terms under which you may be eligible to receive severance and/or other transition benefits from the Company. In the event that you are entitled to receive severance benefits under Article 5 of the Senior Executive Severance Plan, the Company shall also pay you the earned annual bonus, if any, for the calendar year that preceded your termination to the extent not theretofore paid.

November 21, 2013
J. Michael Bischoff
Page 4

		
	b.
	Upon the termination of your employment for any reason, you shall immediately resign, as of your date of termination, from all positions that you then hold with any member of the Affiliated Group.  You hereby agree to execute any and all documentation to effectuate 

such resignations upon request by the Company, but you shall be treated for all purposes as having so resigned upon your date of termination, regardless of when or whether you execute any such documentation.

		
	c.
	During the term of this letter agreement, and, subject to any other business obligations that you may have, following your date of termination, you agree to assist the Affiliated Group in the investigation and/or defense of any claims or potential claims that may be made or threatened to be made against any member of the Affiliated Group, including any of their officers or directors (a “Proceeding”), and will assist the Affiliated Group in connection with any claims that may be made by any member of the Affiliated Group in any Proceeding.  You agree, unless precluded by law, to promptly inform Marsh & McLennan Companies if you are asked to participate in any Proceeding or to assist in any investigation of any member of the Affiliated Group.  In addition, you agree to provide such services as are reasonably requested by the Company to assist any successor to you in the transition of duties and responsibilities to such successor.  Following the receipt of reasonable documentation, the Company agrees to reimburse you for all of your reasonable out-of-pocket expenses associated with such assistance.  Your request for any reimbursement, including reasonable documentation, must be submitted as soon as practicable and otherwise consistent with Company policy.  In any event, your request for a taxable reimbursement, including reasonable documentation, must be submitted by the October 31st of the year following the year in which the expense is incurred.  The Company will generally reimburse such expenses within 60 days of the date they are submitted, but in no event will they be reimbursed later than the December 31st of the year following the year in which the expense is incurred.

 
4.   Restrictive Covenants  

In consideration of and as a condition of your employment by Marsh & McLennan Companies as its Chief Financial Officer under the terms of this letter agreement, among other things, you agree to execute the attached Non-competition and Non-solicitation Agreement, which will supersede and terminate any and all previous agreements and understandings between you and the Company, whether written or oral, with respect to noncompetition or nonsolicitation restrictions.

November 21, 2013
J. Michael Bischoff
Page 5

5.   Code of Conduct & Other Mandatory Training 

As a condition of your employment by Marsh & McLennan Companies as its Chief Financial Officer, you must read, understand and abide by all applicable Marsh & McLennan Companies, Inc. compliance policies found on the Marsh & McLennan Companies’ compliance website (www.compliance.mmc.com), as updated from time to time, including but not limited to The 
Marsh & McLennan Companies Code of Conduct, The Greater Good.  You must complete any required online compliance training for your position within 30 days of your start date or within 30 days after it becomes available.  In addition, you understand that you must complete any and all additional training that the Company determines is appropriate for your position during the course of your employment.

6.   Stock Ownership Guidelines 

In consideration of and as a condition of your employment by Marsh & McLennan Companies as its Chief Financial Officer under the terms of this letter agreement, among other things, you will be required to acquire and maintain a meaningful ownership interest, in the form of shares or stock units, in the Company’s common stock.  The ownership levels vary by position and are equal to a multiple of your base salary as set forth under the Company’s stock ownership guidelines.  You will receive additional information concerning these stock ownership guidelines separately.  The stock ownership guidelines can be found on the Company’s website (www.mmc.com/about/ownershipGuidelines2006.pdf).   

7.   Credentialing

The Company supports continuing professional education. If you hold a professional license or certification, you acknowledge that you understand the obligations and the specific code of professional ethics associated with this license or certificate and agree to perform your duties in accordance with these standards.  In addition, you acknowledge your responsibility to maintain any job-related licenses or certificates in accordance with the requirements issued by the applicable regulatory body or bodies.  The Company agrees to reimburse you for the fees you incur during your employment with the Company in maintaining such licenses or certificates applicable to your position.  You must submit your fees within 60 days after the date they are incurred.  The Company will generally reimburse such fees within 60 days of the date they are submitted, but in no event will they be reimbursed later than December 31st of the year following the year in which the fee was incurred.

November 21, 2013
J. Michael Bischoff
Page 6

8.  Miscellaneous

a.    Notices.  Notices given pursuant to this letter agreement shall be in writing and shall be deemed received when personally delivered, or on the date of written confirmation of receipt by (i) overnight carrier, (ii) telecopy, (iii) registered or certified mail, return receipt requested, postage prepaid, or (iv) such other method of delivery as provides a written confirmation of delivery.  Notice to the Company shall be directed to:

Peter J. Beshar
Executive Vice President & General Counsel
Marsh & McLennan Companies, Inc.
1166 Avenue of the Americas
New York, NY 10036

Notices to or with respect to you will be directed to you, or in the event of your death, your executors, personal representatives or distributees, at your home address as set forth in the records of the Company.
b.    Assignment of this Agreement.  This letter agreement is personal to you and shall not be assignable by you without the prior written consent of Marsh & McLennan Companies.  This letter agreement shall inure to the benefit of and be binding upon the Company and its respective successors and assigns.  Marsh & McLennan Companies may assign this letter agreement, without your consent, to any member of the Affiliated Group or to any other respective successor (whether directly or indirectly, by agreement, purchase, merger, consolidation, operation of law or otherwise) to all, substantially all or a substantial portion of the business and/or assets of the Company, as applicable.  If and to the extent that this letter agreement is so assigned, references to the “Company” throughout this letter agreement shall mean the Company as hereinbefore defined and any successor to, or assignee of, its business and/or assets.

c. Merger of Terms.  This letter agreement supersedes all prior discussions and agreements between you and the Company or any member of the Affiliated Group with respect to the subject matters covered herein, including without limitation, the Letter Agreement, dated September 19, 2012, between you and Marsh & McLennan Companies.  For the avoidance of doubt, compensation that was paid or awarded to you prior to the effective date of this letter agreement will continue to be governed by the terms pursuant to which such compensation was paid or awarded.        

d. Indemnification.  The Company shall indemnify you to the extent permitted by its bylaws, as in effect on the date hereof, with respect to the work you have performed for, or at the request 

November 21, 2013
J. Michael Bischoff
Page 7

of, the Company or any member of the Affiliated Group (as such term is defined in Section 1 above) during the term of this letter agreement.

e. Governing Law; Amendments.  This letter agreement shall be governed by and construed in accordance with the laws of the State of New York, without reference to principles of conflict of laws.  This letter agreement may not be amended or modified other than by a written agreement executed by you and an authorized employee of Marsh & McLennan Companies.

f. Choice of Forum.  The Company and you each hereby irrevocably and unconditionally submits to the exclusive jurisdiction of any New York state court or federal court of the United States of America sitting in the State of New York, and any appellate court thereof, in any action or proceeding arising out of or relating to this letter agreement or for recognition or enforcement of any judgment relating thereto, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in any such New York state court or, to the extent permitted by law, in such federal court.  The Company and you agree that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

g. Severability; Captions.  In the event that any provision of this letter agreement is determined to be invalid or unenforceable, in whole or in part, the remaining provisions of this letter agreement will be unaffected thereby and shall remain in full force and effect to the fullest extent permitted by law.  The captions in this letter agreement are not part of the provisions of this letter agreement and will have no force or effect.

h. Section 409A.  The provisions of this Section 8(h) will only apply if and to the extent required to avoid the imposition of taxes, interest and penalties on you under Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”).  Section 409A applies to nonqualified deferred compensation which exists if an individual has a “legally binding right” to compensation that is or may be payable in a later year.  In furtherance of the objective of this Section 8(h), to the extent that any regulations or other guidance issued under Section 409A would result in your being subject to payment of taxes, interest or penalties under Section 409A, you and the Company agree to use our best efforts to amend this offer letter and any other plan, award, arrangement or agreement between you and the Company in order to avoid or limit the imposition of any such taxes, interest or penalties, while maintaining to the maximum extent practicable the original intent of the applicable provisions.  This Section 8(h) does not guarantee that you will not be subject to taxes, interest or penalties under Section 409A with respect to compensation or benefits described or referenced in this offer letter or any other plan, award, arrangement or agreement between you and the Company.

November 21, 2013
J. Michael Bischoff
Page 8
 
Furthermore, and notwithstanding any contrary provision in this offer letter or any other plan, award, arrangement or agreement between you and the Company, to the extent necessary to avoid the imposition of taxes, interest and penalties on you under Section 409A, if at the time of the termination of your employment you are a “specified employee” (as defined in Section 409A), you will not be entitled to any payments upon termination of employment until the first day of the seventh month after the termination of employment and any such payments to which you would otherwise be entitled during the first six months following your termination of 
employment will be accumulated and paid without interest on the first day of the seventh month after the termination of employment. 

Furthermore, and notwithstanding any contrary provision in this offer letter or in any other plan, award, arrangement or agreement between you and the Company that: (i) provides for the payment of nonqualified deferred compensation that is subject to Section 409A; and (ii) conditions payment or commencement of payment on one or more employment-related actions, such as the execution and effectiveness of a release of claims or a restrictive covenant (each an “Employment-Related Action”) (any such plan, award, arrangement or agreement is a “Relevant Plan”):

		
	(1)
	if the Relevant Plan does not specify a period or provides for a period of more than 90 days for the completion of an Employment-Related Action, then the period for completion of the Employment-Related Action will be the period specified by the Company, which shall be no longer than 90 days following the event otherwise triggering the right to payment; and

		
	(2)
	if the period for the completion of an Employment-Related Action includes the January 1 next following the event otherwise triggering the right to payment, then the payment shall be made or commence following the completion of the Employment-Related Action, but in no event earlier than that January 1.

i. Withholding Requirements.  All amounts paid or provided to you under this letter agreement shall be subject to any applicable income, payroll or other tax withholding requirements.

November 21, 2013
J. Michael Bischoff
Page 9

Please acknowledge your agreement with the terms of this letter agreement by signing and dating the enclosed copy and returning it to me on or before December 6.  

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)        

11/27/13            
(Date)

    

November 21, 2013
J. Michael Bischoff
Page 10

Exhibit A

 

	
		
	Annual Base Salary
	$650,000

	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 $750,000, commencing with the award made in 2014.

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