EX-10.2 2 mmc0930202210qex_102.htm LETTER AGREEMENT MARK C. MCGIVNEY
Daniel S. Glaser
President and Chief Executive Officer
Marsh McLennan
1166 Avenue of the Americas
New York, NY 10036
T +1 212 345 5000
www.mmc.com
September 22, 2022
Subject: Terms of Employment
Dear Mark,
This third amendment to the Letter Agreement, dated September 17, 2015, between you and Marsh & McLennan Companies, Inc. as subsequently amended on January 17, 2018 and February 19, 2019 (together, the “Letter Agreement”), revises the terms and conditions of your employment. The Letter Agreement will continue to govern your employment except as specified below:
1.Exhibit A to the Letter Agreement shall be deleted and replaced in its entirety with the attached Exhibit A.
The terms of this amendment are effective as of September 22, 2022. Please acknowledge your agreement with the terms of the Letter Agreement, as further amended by this third amendment, by signing and dating this and the enclosed copy and returning one to me.
Sincerely,
/s/ Daniel S. Glaser
Daniel S. Glaser
President and Chief Executive Officer
Marsh McLennan
Accepted and Agreed:
/s/ Mark C. McGivney
(Signature)
9/22/22
(Date)

Page 2
September 22, 2022
Mark C. McGivney
Exhibit A

Board or Committee Memberships | None
Annual Base Salary | $800,000 effective as of April 1, 2019.
Annual Target Bonus Opportunity | Bonus awards are discretionary. Target bonus of $1,600,000 commencing with the 2022 performance year (awarded in February 2023). Actual bonus may range from 0% - 200% of target, based on achievement of individual and Marsh McLennan performance objectives, as Marsh McLennan may establish from time to time.
Annual Target Long-Term Incentive Opportunity | Long-term incentive awards are discretionary. Target award value of $2,600,000, commencing with the award made in 2019.