AMENDMENT TERMS

Pursuant to its January 2005 settlement with New York authorities, Marsh & McLennan Cos. Inc. has the right to request modifications to the terms and conditions of the settlement if compliance proves impracticable. MMC has amended its agreement four times.

Amendment No. 1: Reached April 27, 2005; clarifies limitations in the settlement for U.S. and non-U.S. domiciled Marsh entities.

Amendment No. 2: Reached Sept. 27, 2005; clarifies that if Schinnerer Group Inc. or Price Forbes Ltd. are no longer directly owned by Marsh as of Oct. 31, 2005, they will not be subject to the settlement agreement requirements. After that date, the settlement provisions continue to apply even if the units are sold at a later date.

Schinnerer, a Chevy Chase, Md.-based underwriting manager, remains part of Marsh, while management of London-based Price Forbes bought out the wholesaler from Marsh in September 2006.

Amendment No. 3: Reached Aug. 17, 2006; recognizes that part of Marsh's business is to act as a managing general agent or underwriting manager for insurers. When acting in that capacity, Marsh is not barred from receiving additional compensation from insurers.

Amendment No. 4: Reached Aug. 3, 2007; broadens the form of compensation Marsh can receive in connection with brokerage transactions to include specific fees for services paid by insurers. Such fees must be disclosed to clients.