Description of Compensation Arrangements for Independent Directors of Marsh & McLennan Companies, Inc. (Effective June 1, 2012)

Contract Categories: Human Resources › Compensation Agreements
Summary

Marsh & McLennan Companies, Inc. outlines how it will compensate its independent directors starting June 1, 2012. Each independent director will receive a $100,000 annual retainer, payable in cash, stock, or both, and an annual stock grant valued at $120,000. Additional cash retainers are provided for committee chairs: $25,000 for audit and compensation committee chairs, $15,000 for other committee chairs, and $200,000 for the independent chairman, who may also choose cash, stock, or a combination. These arrangements set the pay structure for non-executive board members.

Read More Arrow
EX-10.46 3 mmc-12312011ex_1046.htm DESCRIPTION OF COMPENSATION ARRANGEMENTS FOR NON-EXECUTIVE DIRECTORS MMC-12.31.2011 Ex10_46
Exhibit 10.46


Description of Compensation Arrangements for Independent Directors
 
Effective June 1, 2012, which will be the start of the Board’s annual pay cycle, Marsh & McLennan Companies, Inc. (the “Company”) will compensate its independent directors as follows:
 
Basic Annual Retainer. All independent directors will receive a basic annual retainer of $100,000. Under the terms of the Company’s Directors’ Stock Compensation Plan, directors may elect to receive the basic annual retainer in cash, common stock or a combination thereof.
 
Annual Stock Grant. On June 1 of each year, all independent directors will receive an annual grant of the Company’s common stock with a market value of $120,000 on the grant date.
 
Supplemental Annual Retainers for Audit and Compensation Committee Chairs. The chairs of the Board’s audit and compensation committees will each receive a supplemental annual cash retainer of $25,000.
 
Supplemental Annual Retainers for Committee Chairs. The chairs of the Board’s compliance, finance, directors and governance and corporate responsibility committees will each receive a supplemental annual cash retainer of $15,000.

Supplemental Annual Retainer for Non-Executive Chairman. The Board’s independent chairman will receive a supplemental annual retainer of $200,000. The independent chairman may elect to receive this amount in cash, common stock or a combination thereof.