Benefits Handbook

The Supplemental Savings & Investment Plan is an unfunded plan. Payments are made from the Company's general assets or from a grantor trust ("rabbi trust"), the assets of which are subject to the claims of the Company's creditors in the event of the Company's bankruptcy or insolvency. Your right to payment under the Plan is the same as the right of an unsecured general creditor of the Company.

Your deferrals and Company Credit amounts are credited with notional net earnings based on the return of Marsh & McLennan Companies stock and other notional investment options you select.

Please note that your account under the Supplemental Savings & Investment Plan is an unfunded, "notional" arrangement. This means that Marsh McLennan or your employer do not make actual "deposits" to a traditional trust or financial institution in your name. Your account under the Plan, for accounting and computational purposes, simply tracks your employer's notional contributions made on your behalf and tracks the notional investment results of your account as if your account had actually been invested in the options you select.

With the exception of the Invesco Fixed Income Fund, S&P 500 Index Fund, US Bond Index Fund, Non-US Equity Index Fund and US Extended Equity Market Index Fund all notional investment funds are valued using share accounting. With share accounting, the investment is priced using the daily market value or price of the mutual fund or stock. This means that you will be able to track the daily price of your notional investment options through newspapers and online financial websites.

If you have elected the Invesco Fixed Income Fund, S&P 500 Index Fund, US Bond Index Fund, Non-US Equity Index Fund or US Extended Equity Market Index Fund for a portion of your deferrals or Company credits, this portion of your deferrals or Company credits is considered invested in the Invesco Fixed Income, S&P 500 Index Fund, US Bond Index Fund, Non-US Equity Index Fund or US Extended Equity Market Index Fund notional investment option. The notional return on this investment is the same that is offered under the Marsh & McLennan Companies 401(k) Savings & Investment Plan.

If you have elected notional shares of Marsh & McLennan Companies stock for any portion of your deferrals, that portion is considered notionally invested in shares of Marsh & McLennan Companies stock. This is done by converting the dollar credits in your account on the Company's books into notional shares of Marsh & McLennan Companies stock. This conversion is generally done on a daily basis using the New York Stock Exchange closing price of Marsh & McLennan Companies stock for that trading day.

If Marsh McLennan pays a dividend on its outstanding Marsh & McLennan Companies common stock, your account will be credited with the same notional dollar amount for each notional share of Marsh & McLennan Companies stock credited to your account on the record date for dividend payment. These dividend equivalents that are credited to your account under the Plan are then converted into additional notional shares of Marsh & McLennan Companies stock based on the closing price of Marsh & McLennan Companies stock on the dividend payment date. Thus, the value of your account under the Plan that is represented by notional shares of Marsh & McLennan Companies stock will fluctuate with the value of those units which mirror the value of Marsh & McLennan Companies stock, which trades on the New York Stock Exchange.

If you have elected a notional investment option other than the Invesco Fixed Income Fund, S&P 500 Index Fund, US Bond Index Fund, Non-US Equity Index Fund and US Extended Equity Market Index Fund or notional shares of Marsh & McLennan Companies stock for any portion of your deferrals, that portion is considered invested in those notional investment options. This is done by converting the dollar credits to your account on the Company's books into shares representing your designated notional investment options. This conversion is done on each trading day.

If the actual fund pays a cash dividend, income distribution or other amount, your account will be credited with the same dollar amount based on the number of notional investment option shares credited to your account relating to that fund on the record date for such payment. The dividend equivalents that are credited to your account under the Plan are then converted to additional notional investment option shares representing the applicable fund's value on the payment date. Thus, the value of your account invested in notional investment options will fluctuate with the value of those shares which mirror the value of the underlying funds.