Benefits Handbook

While the Company intends to continue these benefit plans and programs indefinitely, the Company reserves the right to terminate or amend any or all of the health & welfare plans or any particular health or welfare benefit described in this Benefits Handbook, in whole or part, at any time and for any reason as it deems advisable, as to any or all employees covered. In fact, as a matter of prudent business planning, the Company periodically evaluates the Benefits Program.

While Marsh McLennan intends to continue the retirement and savings plans described in the Benefits Handbook indefinitely, Marsh McLennan reserves the right to terminate or amend any plan or all of the plans, in whole or part, at any time and for any reason as it deems advisable, as to any or all employees covered. In fact, as a matter of prudent business planning, Marsh McLennan periodically evaluates its benefits programs.

However, if Marsh McLennan should exercise its right to amend, modify or terminate a retirement plan, you will not be deprived of any benefit you have accrued to the date of such modification, suspension or termination, and you may have preserved rights as to your benefits (such as an account balance in a savings plan) as of the date of the change, although changes may be made retroactively to comply with applicable laws.

For the following retirement plans, if a plan is terminated or if there is a complete discontinuance of contributions, all accounts of affected participants that are not otherwise fully (100%) vested will become fully vested and will be paid to you under the circumstances and in the manner as determined by Marsh McLennan's Board of Directors:

Amounts accumulated under these defined contribution plans are not insured by the Pension Benefit Guaranty Corporation (PBGC), a federal agency, if any of these plans terminates.

Your accrued benefits under the Marsh & McLennan Companies Retirement Plan are insured by the PBGC. If the plan terminates (ends) without enough money to pay all benefits, the PBGC will step in and may pay all or a portion of the pension benefits shortfall. If this were to occur some people may lose certain benefits.

The PBGC guarantee generally covers:

The PBGC guarantee generally does not cover:

Even if certain of your benefits are not guaranteed, you may still receive some of these benefits from the PBGC depending on how much money your plan has and how much the PBGC collects from employers.

For more information about the PBGC and the benefits it guarantees, ask the Plan Administrator or contact the PBGC's Technical Assistance Division, 1200 K Street N.W., Suite 930, Washington, D.C. 20005-4026 or call +1 202 326 4000 (not a toll-free number). TTY/TDD users may call the federal relay toll-free at +1 800 877 8339 and ask to be connected to +1 202 326 4000. Additional information about the PBGC's pension insurance program is available through the PBGC's website on the Internet at www.pbgc.gov.

If it ever becomes necessary to terminate the Marsh & McLennan Companies Retirement Plan, accrued benefits of affected participants will be fully 100% vested (to the extent funded or guaranteed) and assets will be used to pay out benefits in the form of non-transferable annuity contracts and/or lump sums in accordance with legal requirements. The Marsh & McLennan Companies Retirement Plan provides that, in the event of a complete termination, any excess assets remaining after all liabilities have been satisfied will revert to the Company.

Other qualified plans may be merged into any of the retirement and savings plans, and any of the retirement and savings plans may also be merged, in whole or in part, into or with another plan. However, in no event will your benefit immediately after the transfer or merger (determined as if the plan terminated) be less than your benefit immediately prior to the transfer or merger (determined as if the plan terminated).