Document:

EXHIBIT 10.2

 

(Translation; for Reference Only)

 

General
Credit Facility Agreement

 

This General Credit Facility Agreement (“this
Agreement”) is entered into by Hardinge Machine Tools B.V., Taiwan Branch (“the
Applicant”) and Mega International Commercial Bank Co., Ltd. (“the Bank”)
in consideration of various credit facility transactions between the
parities.  It is hereby agreed that any
and all credit facility transactions between the parties shall be governed by
the following terms and conditions in addition to the executed individual
credit facility letter and other agreements:

 

Article 1: Types of Credit Facilities

 

The types of credit facilities as ticked below shall
be extended under this Agreement (please tick the appropriate boxes):

 

	
  x

  	
  Bank loans for purchase of raw materials

  	
  o

  	
  Overdrafts

  
	
  x

  	
  Bank loans for export business

  	
  o

  	
  Authorized bill guarantees

  
	
  x

  	
  Bank loans for working capital

  	
  o

  	
  Authorized bill acceptance

  
	
  o

  	
  Discounts

  	
  o

  	
  Authorized guarantees

  

 

Article 2: Total Amount of Credit Facility

 

The total amount of the credit facilities extended
hereunder shall be US$10,000,000 or its equivalent in other foreign currencies.

 

The total amount of the credit facilities referred to
in the preceding paragraph shall mean the limit on the sum of all the drawings
actually made under all the facilities referred to in Article 1
hereof.  The total amount of all the
drawings made under all the facilities herein shall not exceed the total amount
of credit facilities set forth in this Article.

 

The amount of each of the credit facilities shall mean
the individual amount of that facility. 
The drawings made by the Applicant under that particular type of
facility shall not exceed the individual amount of that facility.

 

Any credit balance under former credit facility agreements
shall be added to the total amount and individual amount in the two preceding
paragraphs as applicable.

 

In the event that the drawn amount exceeds the
individual amount of each facility or total amount of all facilities due to
fluctuating exchange rates or other reasons, the Applicant shall repay the
portion exceeding the individual amount or total amount immediately.

 

Article 3: Drawdown Period

 

The drawdown period for all types of facilities
hereunder shall commence from July 12 , 2010 and end on
May 31, 2011.  Subject to the terms
and conditions hereof, the Applicant may, within the drawdown period, apply to
the Bank for approval of making a drawdown in accordance with the requirements
agreed between the parties.

 

1

 

Article 4: Base Interest Rate and Adjustment

 

The base rate of the Bank shall be the interbank
overnight interest rate plus the Bank’s operational costs and reasonable
profits.  The Bank may adjust its
operational costs and reasonable profits based on the market conditions,
funding costs and its business operations.

 

The Applicant agrees that in the event that the
interest rate for each facility hereunder is computed on the basis of the base
rate plus certain margins (where the Bank’s base rate is 2.5% per annum at the
time of the signing of this Agreement), the base rate shall be immediately
adjusted according to that adjusted by the Bank.  The Applicant further agrees that in the
event of any adjustments after the signing of this Agreement, such adjustments
shall be binding on the Applicant provided that they have been publicly
announced by the Bank at its place of business.

 

Article 5: Penalty and Default Interest

 

If the Applicant fails to repay the
principal(s) or pay interest on the due date, it shall pay, staring from
the due dates thereof, a penalty calculated at 10% of the applicable interest
rate for the first six months of delay, or 20% of the applicable interest rate
for the period starting from the seventh month of delay.

 

If the Applicant fails to repay the
principal(s) in accordance with this Agreement, it shall pay, in addition
to the penalty prescribed in the preceding paragraph, a default interest on the
unpaid principal(s) at the rate of the sum of 1% per annum the applicable
interest rate.  If the Bank has provided
any guarantees, in addition to the penalty prescribed in the preceding
paragraph, the aggregate sum of 1% per annum and the base rate of the Bank
shall be imposed on the Applicant as default interest from the date on which
the Bank performs the guarantee obligations hereunder.

 

Article 6: Exchange Risk

 

For those debts incurred by the Applicant in foreign
currencies, the Applicant may elect to pay the debts due in any foreign
currency or New Taiwan dollars.  The Applicant
agrees that if the debts it owes to the Bank are to be repaid in New Taiwan
dollars, the Bank may elect the spot exchange rate prevailing on the due day or
the payment day; provided, however, that if the Applicant intends to prepay the
debts, it must obtain the prior consent of the Bank.

 

Article 7: Terms and Conditions of Each Type of
Facilities

 

·                          Bank loans for purchase of raw materials

 

(1)          Purpose of Loan: For the purchases of raw materials
and assets or payments of intangible transaction payments.

(2)          Credit Line: US$10,000,000 or its equivalent in other
foreign currencies (revolving).

(3)          Calculation and Payment of Interest:

(a)          Calculation of Interest:

(i)                                           US dollars: 6-month LIBOR plus 1% per
annum and then to be divided by 0.946.

(ii)                                        NT dollars: the Bank’s base rate,
floating, subject to adjustments as set forth in Article 4 above.

 

2

 

(iii)                                     Other foreign currencies: the Bank’s
funding costs plus 1% per annum and then to be divided by 0.946, floating.

(b)         Payment Method of Interest:

Interest shall be paid on a monthly basis.  The monthly period for accruing interest
shall start from the 21st day of each month and end on the 20th day of
the following month.  Interest on loan in
foreign currency may be converted into New Taiwan dollars at the spot selling
exchange rate of the Bank prevailing at the time of conversion.

(c)          Interest shall accrue from the day on
which the Bank advances the loan(s) or the foreign bank pays the money.

(d)         In the event of the Bank’s acceptance of
drafts issued by the Applicant, the Applicant shall pay processing fees in
accordance with the following fee schedule and method:

(4)          Maturity Date

(a)          The Applicant agrees to repay the loan
within 180 days of advancing the loan by the Bank.

(b)         In the event of the Bank’s acceptance of
drafts (issued by the Applicant), the period between the acceptance date and
the expiry date thereof shall not exceed 180 days.  When such loan becomes due and payable, it
shall be repaid by the Applicant or with a separate loan extended by the Bank;
provided, however, that the periods covering the entire loan shall not exceed
180 days in total.

(c)          For domestic goods purchased by the Applicant, subject
to the prior consent of the Bank, the Applicant may authorize the Bank to issue
domestic L/Cs or to accept or pay for the drafts or other certificates issued
by the Applicant for the beneficiary of such L/Cs; provided, however, that the
loan must be repaid within 150 days of the Bank’s issuance, acceptance, or
payment thereof.

(d)         If the goods that have been purchased under this
facility are sold earlier than scheduled, the loan shall be repaid early.

(5)          Method, Terms and Conditions of Drawdowns

(a)          Each application for a letter of credit shall be deemed
a drawdown on the loan hereunder.  After
the Applicant deposits a security bond in the amount required by the Bank, the
Applicant may apply to the Bank for a drawdown by submitting a loan drawdown
application or an application for a letter of credit together with relevant
transaction documents.

(b)         If the Applicant pays a third party for goods through
methods other than a letter of credit, including D/P, D/A, O/A, T/T or other
means, it may, subject to the Bank’s consent, submit a loan drawdown application
and transaction documents to apply to draw down an amount equivalent to    % of the value of the
transaction(s) concerned; provided, however, that the repayment period for
each loan shall not exceed         days.

(6)          If it is so required in the processing procedure, the
Applicant may, subject to the Bank’s consent, use the exclusive chop registered
with the competent authorities for import/export instead of the chop or
signature that appears on the credit facility agreement.

(7)          Subject to the Bank’s consent, the currency hereof may
be converted into another currency; provided, however, that no further
conversion shall be made after it is converted into New Taiwan dollars. If any
payment is to cover both the principal and interest, the Applicant shall,
simultaneously upon the currency conversion, pay the interest then accrued on
the loan.

 

3

 

The conversion date and rate
shall be otherwise agreed between the parties. In the event that the amount
exceeds the individual amount of this facility due to currency conversion, the
Applicant shall pay the portion exceeding the individual amount immediately.

(8)          If the negotiated value of
the letters of credit hereunder exceeds the total amount of the Bank’s loans that
have been extended to the Applicant at the time when the letters of credit are
issued and the Bank agrees to provide a further loan, the excessive portion
shall also be included the drawn amount hereunder and the Applicant shall be responsible
for the repayment thereof.

(9)          For the procedures,
liabilities and obligations in association with the letters of credit
hereunder, the Applicant agrees that the Uniform Customs and Practice for
Documentary Credits promulgated by the International Chamber of Commerce and
the relevant clauses for interpreting trade terms in international rules shall
apply and form a part of this Agreement.

(10)    The goods under the letters
of credit hereof shall be insured at the Applicant’s expense based on terms and
conditions satisfactory to the Bank, with the Bank as a preferred beneficiary.

 

·                         Bank loans for export business

(1)          Purpose of Loan: For the
Applicant’s export of goods or services.

(2)          Credit Line: US$10,000,000 or
its equivalent in other foreign currencies (revolving).

(3)          Calculation and Payment of
Interest: Same as those for bank loans for purchase of raw materials.

(4)          Maturity Date: The due date
of each loan shall be the expiry day of the relevant document required for
borrowing the loan; provided, however, that the loan shall be repaid within 180
days of the extension of the loan.

(5)          Method, Terms and Conditions
of Drawdowns

(a)          The Applicant may apply to
draw down on the loan by submitting the loan drawdown application along with
the documents set forth in (b) and (c) below two business days before
the scheduled advance date.

(b)         The Bank agrees that a loan
shall be extended to the Applicant after the amounts stated in irrevocable
letters of credit with the Applicant being named as the beneficiary, export purchase
orders, sale and purchase contracts, D/A, D/P or other documents are converted
into New Taiwan dollars in accordance with the agreed limit and exchange
rate.  The Applicant shall submit the
originals of said documents (including amendments thereto) to the Bank and
shall repay the loan that is converted in New Taiwan dollars in accordance with
the Bank’s spot rate prevailing at the time of conversion or the rate agreed
between the parties at the time when the Bank handles the negotiation or
acceptance of such documents.

(c)          Subject to the Bank’s
consent, the Applicant may use a D/A, D/P, or other documents for borrowing
loans within the limit set by the Bank in the currency stated therein.

(6)          The Applicant shall perform
the obligations under the aforementioned letters of credit, export purchase
orders, or sale and purchase contracts, and shall not modify or cancel them
without the Bank’s written consent.

 

4

 

·                          Bank loans for working
capital

(1)          Purpose of Loan: For the
Applicant’s regular working capital.

(2)          Credit Line: NT$40,000,000 (revolving).

(3)          Calculation and Payment of
Interest: Interest shall be calculated at the Bank’s base rate, subject to
adjustments as set forth in Article 4 above.  Interest shall be paid on a monthly
basis.  The monthly interest period shall
start from the 21st day of each month and end on the 20th day of the following month.

(4)          Maturity Date: The Applicant
shall repay each loan within 180 days of advancing the loan by the Bank.

(5)          Method, Terms and Conditions
of Drawdowns: It should be handled in accordance with the relevant loan
drawdown application.

 

·                          Discounts

(1)          Purpose of Loan: For the
Applicant’s assignment of the undue and unaccepted drafts or notes it has
obtained received from business transactions for the Bank’s discounts.

(2)          Credit Line: NT$          
(revolving/non-revolving).

(3)          Calculation and Payment of
Interest:

(4)          Maturity Date: The period
between the date of granting the discounts by the Bank and the expiry dates of
the notes and drafts shall not exceed            days.  The expiry dates of the discounted notes and
drafts shall be deemed the repayment date.

(5)          Method, Terms and Conditions
of Drawdowns:

(6)          The Applicant shall submit to
the Bank the usance drafts or notes received from business transactions
conducted by the Applicant two business days before the drawdown along with the
relevant sale and purchase contract, supply contract, invoices and documents
evidencing the nature of the transactions. 
Subject to the Bank’s approval, the loan to be extended shall be % of
the value of the discounted drafts and notes.

(7)          In the event that the
discounted drafts and notes are issued outside the jurisdiction where the Bank
is situated, interest shall be accrued until the Bank collects the money under
such drafts and notes.  The expenses for
accepting such drafts and notes shall be borne by the Applicant.

(8)          With respect to the drafts
and notes for which the Applicant applies for discounts from the Bank, the
Applicant agrees that if the loan is unpaid when due or the drafts and notes
cannot be accepted or presented for payment, the Applicant shall, upon
receiving the Bank’s notice, repay the loan immediately, including the
principal, default interest, penalties and all relevant expenses and compensate
the Bank for its loss, if any.  Even if
the discounted drafts and notes are flawed or forged, the notice requirement is
not duly met, or the statute of limitations has expired, the Applicant shall
repay the loan in accordance with the terms and conditions hereof.

 

·                          Overdrafts

(1)          Purpose of Loan: For the
Applicant’s overdrafts under the checking account of No.        with the Bank.

(2)          Credit Line: NT$          
(revolving/non-revolving).

(3)          Calculation and Payment of
Interest:

(4)          When the sum of the principal
and interest exceeds the limit of this facility, the Applicant shall pay the
exceeding portion immediately.

 

5

 

·                          Authorized bill acceptance

(1)          Purpose of Loan: For the
Applicant’s application with the Bank for the Bank’s acceptance of the drafts
issued by the Applicant.

(2)          Credit Line: NT$
          (revolving/non-revolving).

(3)          Processing Fees:

(4)          Acceptance Period: With
respect to the drafts for which the Applicant applies for the Bank’s
acceptance, the period between the expiry date thereof and the acceptance date
shall not exceed 180 days; provided, however, that if the drafts are issued for
repayment of the loan borrowed for purchasing raw materials hereunder, the
expiry date thereof shall not go beyond the due date for repaying such loan.

(5)          When applying for draft
acceptance, the Applicant shall submit the drafts indicating the Bank as the
payee and the Bank’s place of business as the location of payment along with
the authorization letter for draft acceptance and other transaction documents
for the Bank’s approval and acceptance. 
When applying for acceptance, the Applicant shall separately issue
drafts at amounts and expiry dates same as those to be accepted for preparation
of compensation.  If, after the Bank’s
payment of the accepted drafts, the drafts for preparation of compensation
cannot be accepted for payment, the Applicant should repay the loan in full
immediately.

(6)          For those drafts accepted by
the Bank, the Applicant shall authorize a broker acceptable to the Bank to sell
the drafts.  The Applicant also agrees
that the Bank may, at the broker’s request, deliver to the broker the drafts
duly affixed with the necessary chops one business day before the issuance date
of the drafts.

 

·                          Authorized Guarantees

(1)          Purpose of Loan: For the
Applicant’s application with the Bank for the Bank’s provision of guarantees
for the purposes designated by the Applicant.

(2)          Credit Line: NT$           (revolving/non-revolving).

(3)          Processing Fees:

(4)          Scope of Guarantees:

(5)          Application Method: The
Applicant shall submit a guarantee drawdown application and the relevant
guarantee letter for the Bank’s approval provided that the guarantee to be
provided falls within the aforementioned scope of guarantee.

(6)          In the event that the guarantees
are provided in the form of letters of credit, the Uniform Customs and Practice
for Documentary Credits and the International Standby Practice promulgated by
the International Chamber of Commerce shall apply.

(7)          When the Bank performs its
guarantee obligations, it shall make independent judgments based on the papers
provided by the guarantee beneficiary without considering the goods, services
or other actions covered by the guarantees.

(8)          As soon as the guarantee
beneficiary requests the Bank to perform its guarantee obligations, the Applicant shall repay the loan immediately.  In the event that foreign currencies are
required, the Applicant shall be sole responsible for repaying the loan in the
designated foreign currencies.

 

6

 

Article 8: Miscellaneous

 

(1)          Upon the execution of this
Agreement, both the agreement signed by the Applicant and the Bank on October 30,
2009 (Reference No. 98-338, the “Original Agreement”), and its addendum
signed on February 22, 2010, shall terminate with immediate effect.  The balance of the drawings under the
Original Agreement and the addendum will be included in the amount of credit
facility of this Agreement before the drawdown period expires.

(2)          The Applicant shall obtain
the approval of the board of directors of Hardinge Machine Tools B.V. (“Parent
Company”) and an authorization letter from its chairman (for this
Agreement).  The signatures of the
chairman and directors attending the meeting (approving this Agreement) shall
be authenticated by an ROC representative office or certificated by a local
branch of the Bank.

(3)          The Applicant agrees that the
drawdowns hereunder shall be made only if the application documents bear the
chops as designated in the board resolution of the Parent Company, which shall
be limited to the chops of the branch and the manager as shown in the Applicant’s
Branch Registration Form issued by the Ministry of Economic Affairs.

(4)          The Applicant agrees that
when drawing down the amount under the facility of export business in this
Agreement, the Applicant is allowed to borrow up to 85% of the amount stated in
the relevant letter of credit (L/C), or 70% of the amount stated in the
relevant D/A, D/P, O/A or purchase order. 
The total amount of drawdown based on the purchase orders shall not
exceed 70% of the credit line.

(5)          The Applicant agrees that the
amount of foreign exchange transactions (the amount of negotiation under L/C
and the amount of inward remittance) should reach three times of the credit
line, which will be a basis for deciding the renewal of this Agreement in the
future.

(6)          When the Applicant applies
for issuing L/Cs under this Agreement, the seal/specimen which will be used by
the Bank on said application (“Seal of Mega International Commercial
Bank exclusively used for importation/exportation
purposes”) shall have the same effect as the seal used and stamped by the Bank
in this Agreement.  The Applicant and the
joint guarantor agree to be bound by the effect of the aforesaid seal
accordingly.

(7)          Upon the expiry of the
drawdown period set forth in Article 3 hereof, unless either party
notifies the other party of its intention not to renew this Agreement, this
Agreement shall be automatically extended once for another year; provided,
however, that the Bank may terminate this Agreement or reduce the credit line
granted herein in the event that the Applicant’s assets or creditability is in bad
condition and that the Applicant fails to improve the
situation within a specific reasonable period set by the Bank.

 

7

 

Mega International Commercial Bank Co., Ltd.

	
  /S/ C. H. TSAI

  	
   

  

Responsible Person: C.H. Tsai, Manager of Nantou
Branch

Address: No. 45, Wenchen Street, Nantou City

 

The Applicant hereby certifies that the Applicant
has read all the above terms and conditions within a reasonable period of time
and fully understood them before signing this Agreement.  Hardinge Machine Tools B.V., Taiwan Branch

	
  /S/ J. R. HO

  	
   

  

Branch Manager and Litigious Agent: J.R. Ho

 

Address: No. 4, Tse-Chiang San Road, Nantou
City

 

8Exhibit
10.1

 

Aon
Corporation

 

Outside
Director Corporate Bequest Plan

 

As
Amended and Restated Effective

 

January 1,
2010

 

 

Aon
Corporation

 

Outside
Director Corporate Bequest Plan

 

On March 18, 1994, the
Board of Directors (the “Board”) of Aon Corporation (“Aon” or the “Company”)
adopted the Aon Corporation Outside Director Corporate Bequest Plan (the “Bequest
Plan”) for the purpose of providing a vehicle to attract and retain high
quality individuals as Directors of Aon while also providing support to worthy
charitable institutions.  Effective January 1,
2010, the Bequest Plan is amended and restated as set forth in this plan
document.

 

1.                                       Bequest Plan
Benefits

 

Under the Bequest Plan, each
eligible Director of Aon (each, an “Eligible Director”) may recommend that Aon,
in conjunction with the Aon Foundation (the “Foundation”), make a donation in
the amount of one million dollars ($1,000,000) to the eligible tax-exempt
organization(s) selected by the Eligible Director and approved by the
Foundation (each, a “Charitable Organization”), subject to the provisions
contained in this Bequest Plan.  The
donation would be made on the behalf of the Eligible Director pursuant to the
provisions of Section 6 of this Bequest Plan.

 

2.                                       Eligibility
Standards

 

Eligible Directors include
those outside Directors elected or appointed to serve on the Board before January 1,
2006 who have completed at least one year of service as a member of the
Board.  The Bequest Plan was closed to
future participants in connection with certain modifications to outside
Director compensation that were adopted by the Board effective January 1,
2006.  Outside Directors elected or
appointed to serve on the Board on or after January 1, 2006 are not
eligible to participate in the Bequest Plan. 
A list of Eligible Directors who qualify to participate in the Bequest
Plan is attached hereto as Exhibit A.

 

3.                                       Bequest
Recommendation

 

Each Eligible Director shall
make a written bequest recommendation by completing and returning to the
Foundation a Bequest Recommendation Form that designates the Charitable
Organization(s) to which he or she wishes to make a bequest.  The bequest will be made by the Foundation on
the Eligible Director’s behalf in accordance with the provisions contained in
this Bequest Plan.  Unless the Eligible
Director makes an irrevocable recommendation, an Eligible Director may revise
or revoke any recommendation by filing a new written Bequest Recommendation Form with
the Foundation prior to his or her death. 
A bequest recommendation becomes effective once approved by the
Foundation.

 

4.                                       Designation of
Charitable Organization

 

To qualify as an eligible
Charitable Organization under the Bequest Plan, a Charitable Organization must
meet any and all criteria established by the Foundation with respect to
charitable organizations that are compatible with the Company’s philanthropic
philosophy.

 

In the event that a
Charitable Organization recommended by an Eligible Director no longer qualifies
as an eligible Charitable Organization, the Eligible Director or, following
such Eligible Director’s death, the executor of the Eligible Director’s estate,
will designate a suitable replacement. 
If the executor of the Eligible Director’s estate is unable or unwilling
to make such a designation, or if no executor has been appointed, the
Foundation will determine a Charitable 

 

2

 

Organization to receive the
balance of the bequest.  Furthermore, the
Foundation reserves the right to, at any time, whether before or after payments
have commenced, immediately refrain from or cease making payments to a
Charitable Organization in the event such Charitable Organization no longer
meets the requirements set forth in the first paragraph of this Section to
qualify as an eligible Charitable Organization.

 

5.                                       Bequest Amount

 

Each Eligible Director may
recommend a minimum of one and a maximum of five Charitable Organizations to
receive a portion of the one million ($1,000,000) bequest amount, subject to a
$100,000 minimum amount per Charitable Organization.

 

6.                                       Payment of Bequest Plan Benefits

 

Each Eligible Director is
paired with another Eligible Director under the Bequest Plan.  The distribution of each Eligible Director’s
charitable bequest amount will begin at the later of:  (i) the death of such Eligible Director;
or (ii) the death of the other Eligible Director with whom such Eligible
Director is paired.  If an Eligible
Director is not paired under the Bequest Plan, the distribution of such
Eligible Director’s charitable bequest amount will begin within sixty (60)
business days following such Eligible Director’s death.  Aon shall determine the pairing of Eligible
Directors under the Bequest Plan in its sole discretion.  Distributions, once they begin, will be made
to the designated charitable organization(s) in ten equal annual
installments.

 

7.                                       Funding and Assets of the Plan

 

The
Bequest Plan shall at all times be maintained on an unfunded basis for federal
income tax purposes.  Aon shall have no
requirement to fund the Bequest Plan, and any benefits payable under this
Bequest Plan shall be paid by Aon out of its general assets.  The obligations that Aon incurs under this
Bequest Plan shall be subject to the claims of Aon’s other creditors having
priority as to Aon’s assets.

 

If
Aon does identify assets to fund bequests, neither the Eligible Directors nor
their recommended Charitable Organizations shall have any rights or interest in
any assets of Aon identified for such purpose. 
No aspect of the Bequest Plan shall create, or be deemed to create, a
trust, either actual or constructive for the benefit of an Eligible Director or
any Charitable Organization.  No aspect
of the Bequest Plan shall give, or be deemed to give, any Eligible Director or
recommended Charitable Organization any interest in any assets of Aon or the
Bequest Plan nor is any recommended Charitable Organization considered to be a
third party beneficiary of the Bequest Plan.

 

8.                                       Amendment or Termination

 

The Board may, in its sole
discretion, amend, suspend, or terminate the Bequest Plan at any time.

 

9.                                       Administration

 

The Bequest Plan shall be
administered by the Organization and Compensation Committee of the Board (the “Committee”).
Subject to the terms of the Bequest Plan, the Committee shall have the authority
to prescribe, amend, and rescind rules, regulations and procedures relating to
the Bequest Plan, and interpret the Bequest Plan, and any rules, regulation or
procedures relating to the Bequest Plan, and interpret and enforce any rules,
regulation or procedures adopted thereunder in its sole discretion.

 

3

 

In the administration of the
Bequest Plan, the Committee may, from time to time, employ agents and delegate
to them such administrative duties as it sees fit and may from time to time
consult with counsel who may also serve as counsel to Aon.

 

The decision or action of
the Committee with respect to any question arising out of or in connection with
the administration, interpretation and application of the Bequest Plan and the rules and
regulations hereunder shall be final and conclusive and binding upon all
persons having any interest in the Bequest Plan or making any claim hereunder.

 

10.                                 Assignment

 

Except as to withholding of
any tax under the laws of the United States, or any state or locality, no
benefit payable at any time hereunder shall be subject in any manner to
alienation, sale, transfer, assignment, pledge, attachment or other legal
process, or encumbrance of any kind.  Any
attempt to alienate, sell, transfer, assign, pledge or otherwise encumber any
such benefit, whether currently or thereafter payable hereunder, shall be void.

 

11.                                 Compliance with Code Section 409A

 

To the extent applicable,
the Bequest Plan is intended to comply with Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”), and the Committee shall
interpret and administer the Bequest Plan in accordance therewith.  In addition, any provision, including,
without limitation, any definition, in the Bequest Plan that is determined to
violate the requirements of Section 409A of the Code shall be void and
without effect and any provision, including, without limitation, any
definition, that is required to appear in this plan document under Section 409A
of the Code that is not expressly set forth shall be deemed to be set forth
herein, and the Plan shall be administered in all respects as if such
provisions were expressly set forth  In
addition, the timing of certain payment of benefits provided for under the
Bequest Plan shall be revised as necessary for compliance with Section 409A
of the Code.

 

12.                                 Governing Law

 

The validity, construction,
interpretation, administration and effect of the Bequest Plan, and all rights
hereunder, shall be determined solely in accordance with the laws of the State
of Illinois, to the extent not preempted by federal law.

 

4

 

Exhibit A

 

Eligible
Directors

 

AON
CORPORATION — OUTSIDE DIRECTOR CORPORATE BEQUEST PLAN

 

MATCHING
ASSIGNMENTS

 

	
  Name of Director

  	
   

  	
  Birthdate

  	
   

  	
  Name
  of Director (Bequest

  Partner)

  	
   

  	
  Birthdate

  
	
  George A. Schaefer

  (retired)

  	
   

  	
  06/13/28

  	
   

  	
  Andrew J. McKenna

  	
   

  	
  09/17/29

  
	
  Franklin A. Cole

  (retired)

  	
   

  	
  05/20/26

  	
   

  	
  Donald S. Perkins

  (retired)

  	
   

  	
  03/22/27

  
	
  Perry J. Lewis

  (retired)

  	
   

  	
  02/11/38

  	
   

  	
  Fred L. Turner

  (retired)

  	
   

  	
  01/06/33

  
	
  Newton N. Minow

  (retired)

  	
   

  	
  01/17/26

  	
   

  	
  Edgar D. Jannotta

  	
   

  	
  04/27/31

  
	
  Peer Pederson

  (retired)

  	
   

  	
  03/10/25

  	
   

  	
  Daniel T. Carroll

  (deceased 2007)

  	
   

  	
  03/21/26

  
	
  Arnold R. Weber

  (retired)

  	
   

  	
  09/20/29

  	
   

  	
  Joan D. Manley

  (retired)

  	
   

  	
  09/23/32

  
	
  John E. Swearingen

  (deceased 2007)

  	
   

  	
  09/7/18

  	
   

  	
  Jan Kalff

  	
   

  	
  05/15/37

  
	
  R. Eden Martin

  	
   

  	
  05/17/40

  	
   

  	
  Robert S. Morrison

  	
   

  	
  04/04/42

  
	
  J. Michael Losh

  	
   

  	
  05/10/46

  	
   

  	
  Richard C. Notebaert

  	
   

  	
  07/16/47

  
	
  Gloria Santona

  	
   

  	
  06/10/50

  	
   

  	
  Carolyn Y. Woo

  	
   

  	
  4/19/54

  
	
  Lester B. Knight

  	
   

  	
  05/15/58

  	
   

  	
  John W. Rogers, Jr.

  	
   

  	
  03/31/58

  
	
  Patrick G. Ryan, Jr.

  (retired)

  	
   

  	
  04/14/67

  	
   

  	
   

  	
   

  	
   

  

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]