Document:

Exhibit 10.1

 

To:                             Citibank International plc

 

as Agent under the Facility Agreement (as
defined below)

 

26 August 2010

 

Facility Agreement - Amendment
Request Letter

 

1.                                      BACKGROUND

 

1.1          We
refer to the facility agreement dated 7 February 2005 (as amended from
time to time) between, amongst others, AON Corporation (the Company) and certain of its
Subsidiaries, Citigroup Global Markets Limited, ING Bank N.V. and The
Royal Bank of Scotland plc as arrangers, 
Citibank International plc as agent and certain lenders as set out
therein (the Facility
Agreement).

 

1.2          Words
and expressions defined in the Facility Agreement have the same meanings when
used in this letter unless otherwise provided or the context otherwise
requires.

 

1.3          The
Company has been negotiating and finalising the terms of certain credit
facilities (being a term loan facility and a bridge loan facility, the Target Acquisition Facilities) in
connection with the financing of the acquisition of the entire issued share
capital of Hewitt Associates Inc., a Delaware corporation (the Target). As part of this negotiation
process, certain provisions of the Target Acquisition Facilities have been
agreed which do not reflect the position of certain other of the Company’s
credit facilities, including the Facility Agreement.
In order for the Company and its Subsidiaries to have a broadly common set of
covenants and undertakings across its major financing agreements, we are
requesting the amendments as set out in this letter (the Request
Letter).

 

2.                                      AMENDMENT REQUEST

 

2.1          Accordingly,
in accordance with clause 35 (Amendments and
waivers) of the Facility Agreement, we hereby request the consent of
the Majority Lenders (as defined in the Facility Agreement) to the amendments
of the provisions of the Facility Agreement as set out within the Schedule to
this Request Letter.

 

2.2          The
amendments set out at the schedule to this Request Letter shall become
effective on the date of countersignature of the final Obligor on this letter.

 

3.                                      CONSENT

 

By your countersignature hereto, you hereby
confirm that the amendments requested in this letter have been given by the
Majority Lenders.

 

4.                                      CONFIRMATIONS

 

4.1          The
provisions of the Facility Agreement and the other Finance Documents shall,
save as amended by this Request Letter, continue in full force and effect and
the Facility Agreement and this Request Letter will be read and construed as
one document.

 

 

4.2          The
Repeating Representations are made by the Company (by reference to the facts
and circumstances then existing) on the date that the amendments become
effective in accordance with paragraph 2.2 above.

 

4.3          Each
Obligor hereby confirms for the benefit of the Finance Parties that the
guarantee and indemnity obligations assumed by it under Clause 18 (Guarantee
and indemnity) of the Facility Agreement shall continue in full force and
effect and shall extend to the obligations of the Obligors under the Facility
Agreement as amended by this Request Letter notwithstanding the imposition of
any amended, additional or more onerous obligations.

 

5.                                      MISCELLANEOUS

 

5.1          Save
as expressly set out in this letter, nothing in this letter shall constitute or
be construed as a waiver or compromise of any other term or condition of the
Finance Documents or any of the Finance Parties rights in relation to them
which for the avoidance of doubt shall continue to apply in full force and
effect.

 

5.2          This
letter is a Finance Document for the purposes of the Facility Agreement.

 

5.3          This
letter may be executed in any number of counterparts and all those counterparts
taken together shall be deemed to constitute one and the same letter. Delivery
of a counterpart of this letter by e-mail attachment or telecopy shall be an
effective mode of delivery.

 

5.4          This
letter and any non-contractual obligations arising out of or in relation to
this letter are governed by English law. 
The parties submit to the non-exclusive jurisdiction of the English
courts.

 

 

Yours faithfully

 

 

	
  /s/ Paul Hagy

  	
   

  
	
  for and on behalf of

  	
   

  
	
  AON Corporation

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Mark Chessher

  	
   

  
	
  for and on behalf of

  	
   

  
	
  AON Limited

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Stephen Gale

  	
   

  
	
  for and on behalf of

  	
   

  
	
  Aon UK Holdings Intermediaries
  Limited

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Herve Renaudie

  	
   

  
	
  for and on behalf of

  	
   

  
	
  AON Holdings France SNC

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Lambert Schroeder

  	
   

  
	
  for and on behalf of

  	
   

  
	
  Aon Finance Luxembourg S.A.R.L.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Lambert Schroeder

  	
   

  
	
  for and on behalf of

  	
   

  
	
  Aon Financial Services
  Luxembourg S.A.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Ralph Liebke

  	
   

  
	
  for and on behalf of

  	
   

  
	
  AON Jauch & Hübener
  Holdings GmbH

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Carin Verhagen

  	
   

  
	
  for and on behalf of

  	
   

  
	
  AON Holdings B.V.

  	
   

  

 

 

	
  /s/ Carin Verhagen

  	
   

  
	
  for and on behalf of

  	
   

  
	
  AON Holdings International B.V.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Carin Verhagen

  	
   

  
	
  for and on behalf of

  	
   

  
	
  AON Group International B.V.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Carin Verhagen

  	
   

  
	
  for and on behalf of

  	
   

  
	
  AON Southern Europe B.V.

  	
   

  

 

 

	
  We acknowledge and agree to the amendment
  request

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Alasdair Watson

  	
   

  
	
  for and on behalf of Citibank International
  plc

  	
   

  
	
   

  	
   

  
	
  as Agent (as defined in the Facility
  Agreement)

  	
   

  
	
  (acting on the instructions of the Majority
  Lenders

  	
   

  
	
  pursuant to clause
  35.1 (Amendments and waivers)
  of the Facility Agreement)

  

 

 

Schedule

 

The Facility Agreement is amended as set out
below:

 

1.             The following new defined terms are
hereby inserted into clause 1.1 (Definitions) of the Facility Agreement in the
appropriate alphabetical order:

 

“Bridge Credit Agreement” means the senior bridge term loan
credit agreement to finance, amongst other things, the acquisition of Target,
between the Company, Credit Suisse AG, as administrative agent, and the lenders
and agents party thereto as it may be amended or modified and in effect from
time to time to the extent permitted thereunder.

 

“Bridge Loans” means the “Loans” as defined in the Bridge
Credit Agreement.

 

“Merger” means the merger of Merger Sub with and into the
Target pursuant to the Merger Agreement.

 

“Merger Agreement” means the agreement and plan of merger
dated July 11, 2010 among the Company, Merger LLC, Merger Sub and Target.

 

“Merger Cash Consideration” means an aggregate amount of
approximately $2,450,000,000 in cash to be paid to the equity holders of Target
pursuant to the Merger Agreement.

 

“Merger Consideration” means the Merger Cash Consideration
and the Merger Equity Consideration.

 

“Merger Equity Consideration” means the shares of common
stock of the Compamy to be delivered to the equity holders of Target pursuant
to the Merger Agreement.

 

“Merger LLC” means Alps Merger LLC, a Delaware limited
liability company and a wholly owned subsidiary of the Company.

 

“Merger Sub” means Alps Merger Corp., a Delaware corporation
and a wholly owned subsidiary of the Company.

 

“Senior Notes” means the up to $1,500,000,000 in aggregate
principal amount of senior unsecured notes of the Company issued in a public
offering or in a Rule 144A or other private placement.

 

“Subsequent Merger” means the merger of the surviving
corporation in the Merger with and into Merger LLC, with Merger LLC surviving
as a wholly owned subsidiary of the Company.

 

“Target” means Hewitt Associates, Inc., a Delaware
corporation.

 

“Term Loan Agreement” means the Three-Year Credit Agreement
to finance, amongst other things, the acquisition of Target, between the
Company, Credit Suisse AG, as administrative agent, and the lenders and agents
party thereto as it may be amended or modified and in effect from time to time
to the extent permitted thereunder.

 

“Term Loan Closing Date” means the “Closing Date” as defined
in the Term Loan Agreement.

 

“Transactions” means (i) the Merger and the Subsequent
Merger, including the payment of the Merger Consideration, (iii) the
execution, delivery and performance of the Term Loan Agreement, (iv) the
execution, delivery and performance of the Bridge Credit Agreement, (v) the
issuance of the Senior Notes, and, to the extent the Borrower is unable to
issue the Senior Notes on or prior to the date the Merger is consummated, the
funding of the Bridge Loans and the application of the proceeds thereof and (vi) payment
of the Transaction Costs.

 

 

“Transaction Costs”
means fees and expenses in an aggregate amount not to exceed $50,000,000 in
connection with the Transactions.

 

2.             The definition of “Reportable Event”
is hereby amended to insert immediately following the reference to “Section 412”
the following: “or 430”.

 

3.             Paragraph (b) of clause 20.7 of the
Facility Agreement is hereby amended to insert the following proviso at the end
thereof:

 

“; provided that
no such notice shall be required to be given unless such ERISA Termination
Event could reasonably be expected to result in liabilities of the Company in
excess of $25,000,000.”

 

4.                                      The following words shall be
included at the end (and before the full stop) of clause 21.1(c) (Financial
condition):

 

“; provided that in the event that the Senior Notes are issued
prior to the Term Loan Closing Date and the proceeds thereof are held in escrow
pursuant to arrangements reasonably satisfactory to the administrative agent
under the Term Loan Agreement, the outstanding principal amount of the Senior
Notes for the purpose of determining ‘Borrowings’ at any time prior to the Term
Loan Closing Date shall be deemed to be the excess (if any) of the outstanding
principal amount of the Senior Notes over the escrowed proceeds thereof”.

 

5.             The
definition of “EBITDA” included at clause 21.3
(Definitions) is hereby amended and restated in its entirety to read as
follows:

 

“EBITDA” means Consolidated Net Income plus
(a) to the extent deducted from revenues in determining Consolidated Net
Income, (i) Consolidated Interest Expense, (ii) expense for taxes
paid or accrued, (iii) depreciation, (iv) amortization, (v) extraordinary
losses incurred other than in the ordinary course of business, (vi) the
Transaction Costs and (vii) non recurring cash charges incurred for such
period in connection with the Merger in an amount not to exceed $50,000,000 in
aggregate during the term of this Agreement minus (b) to
the extent included in Consolidated Net Income, extraordinary gains realised
other than in the ordinary course of business, all calculated for the Group on
a consolidated basis, provided that, notwithstanding the foregoing provisions
of this definition, no amounts shall be added pursuant to limbs (i) to (v) above
for any losses, costs, expenses or other charges arising in connection with or
resulting from the settlement of any Disclosed Claims or any payments in
respect of any judgments or other orders thereon or any restructuring or other
charges in connection therewith or relating thereto.

 

6.             Clause 22.5 (Conduct of business) of the Facility
Agreement is hereby amended and restated in its entirety to read as follows:

 

“The Company will,
and will cause each Subsidiary to, (a) carry on and conduct its business
in substantially the same manner and in substantially the same fields of
enterprise as it is conducted on the date of this Agreement taking into account
the Merger Agreement and Merger, and will not, and will not permit any of its
Subsidiaries to, engage in any business other than (i) businesses in the
same fields of enterprise as now conducted by the Company and its Subsidiaries
or the Target and its Subsidiaries or (ii) businesses that are reasonably
related or incidental thereto or that, in the judgment of the board of
directors of the Company, are reasonably expected to materially enhance the
other businesses in which the Company and its Subsidiaries are engaged, and (b) do
all things necessary to remain duly organized, validly existing and in good
standing in its jurisdiction of organization and maintain all requisite
authority to conduct its business in each jurisdiction in which its business is
conducted, except where failure to be in such good standing or so qualified or
authorized could not reasonably be expected to have a Material Adverse Effect;
provided, however, that nothing in this Clause 22.5 shall prohibit the
dissolution or sale, transfer or other disposition of any Subsidiary that is
not otherwise prohibited by this Agreement.”

 

 

7.             Clause 22.16 (Inconsistent
Agreements) is hereby amended and restated in its entirety to read as follows:

 

“(a)         The
Company shall not (and shall ensure that no other member of the Group shall)
enter into any indenture, agreement, instrument or other arrangement which:

 

(i)            directly
or indirectly prohibits or has the effect of prohibiting or imposes materially
adverse conditions upon the incurrence of the obligations of the Obligors under
the Finance Documents, the amending of the Finance Documents or the ability of
any Subsidiary of the Company to:

 

(A)          pay
dividends or make other distributions on its issued share capital;

 

(B)          make
loans or advances to the Company; or

 

(C)          repay
loans or advances from the Company

 

except (x) restrictions and limitations
imposed by Law or by the Finance Documents, (y) customary restrictions and
limitations contained in agreements relating to the sale of a Subsidiary or its
assets that is permitted hereunder, (z) restrictions and conditions
imposed by agreements relating to the Financial Indebtedness of any Subsidiary
in existence at the time such Subsidiary becomes a Subsidiary but not created
in contemplation of or in connection with such Subsidiary becoming a Subsidiary
(or any refinancing or amendment thereof that does not result in a materially
more restrictive restriction or condition); provided that such restrictions and
conditions apply only to such Subsidiary and its respective Subsidiaries, (aa)
in the case of any Subsidiary that is not a wholly-owned Subsidiary, customary
restrictions and conditions imposed by its organizational documents or any
joint venture or similar agreement, (bb) solely for the first 60 days following
the Term Loan Closing Date, restrictions set forth in any indenture, agreement,
instrument or other arrangement to which the Target or any of its Subsidiaries
is party and (cc) where, in the cases of (A), (B) and (C), any such
prohibition, restraint or imposition does not, or could not reasonably be
expected to, have a material adverse effect on the ability of the Company to
comply with its payment obligations under the Finance Documents; or

 

(ii)           contains
any provision which would be violated or breached by the making of Loans or by
the performance by any Obligor of any of its obligations under any Finance
Document.”ex41.htm

Exhibit 4.1

 

East Morgan 

Holdings, Inc.

 

CUSIP NO.  273771 10 5

 

	Number	 	Shares
	**Specimen**	 	**Specimen**

 

THIS CERTIFIES THAT **Specimen**

 

IS THE RECORD HOLDER OF **Specimen**

 

Shares of East Morgan Holdings, Inc. Common Stock

transferable on the books of the Corporation in person or by duly authorized attorney upon surrender of this Certificate properly endorsed.  This Certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar.

 

Witness the facimile seal of the Corporation and the facsimile signature of its duly authorized officers.

 

DATED **Specimen**

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