EXECUTION VERSION 364-DAY BRIDGE LOAN AGREEMENT dated as of September 18, 2018 among MARSH & MCLENNAN COMPANIES, INC. as the Borrower, the Lenders from Time to Time Party Hereto and GOLDMAN SACHS BANK USA, as Administrative Agent ——————————————— GOLDMAN SACHS BANK USA, as Sole Lead Arranger and Sole Bookrunner ——————————————— WEIL:\96719829\13\99980.0025 TABLE OF CONTENTS Page Article 1 DEFINITIONS ............................................................................................................................... 1 Section 1.1 Definitions ............................................................................................................. 1 Section 1.2 Accounting Terms and Determinations ............................................................... 20 Section 1.3 Other Interpretive Provisions ............................................................................... 20 Article 2 THE CREDITS ............................................................................................................................ 21 Section 2.1 Advances .............................................................................................................. 21 Section 2.2 Making the Advances .......................................................................................... 21 Section 2.3 [reserved] ............................................................................................................. 22 Section 2.4 [reserved] ............................................................................................................. 22 Section 2.5 Fees ...................................................................................................................... 22 Section 2.6 Mandatory Termination or Reduction of Commitments; Mandatory Prepayments ......................................................................................................... 23 Section 2.7 Repayment of Advances ...................................................................................... 24 Section 2.8 Interest on Advances ............................................................................................ 24 Section 2.9 Interest Rate Determination ................................................................................. 24 Section 2.10 [reserved] ............................................................................................................. 25 Section 2.11 Voluntary Termination or Reduction of Commitments; Voluntary Prepayments ......................................................................................................... 25 Section 2.12 General Provisions as to Payments ...................................................................... 25 Section 2.13 Sharing of Payments, Etc ..................................................................................... 26 Section 2.14 Evidence of Debt ................................................................................................. 27 Section 2.15 [reserved] ............................................................................................................. 27 Section 2.16 [reserved] ............................................................................................................. 27 Section 2.17 [reserved] ............................................................................................................. 27 Section 2.18 Funding Losses .................................................................................................... 27 Section 2.19 Defaulting Lenders .............................................................................................. 28 i WEIL:\96719829\13\99980.0025 TABLE OF CONTENTS (continued) Article 3 CONDITIONS ............................................................................................................................. 29 Section 3.1 Effective Date ...................................................................................................... 29 Section 3.2 Closing Date ........................................................................................................ 30 Section 3.3 Each Borrowing Date ........................................................................................... 31 Section 3.4 Actions during Certain Funds Period ................................................................... 31 Section 3.5 Determinations under Article 3 ............................................................................ 32 Article 4 REPRESENTATIONS AND WARRANTIES ............................................................................ 32 Section 4.1 Corporate Existence and Power ........................................................................... 32 Section 4.2 Corporate and Governmental Authorization; No Contravention ......................... 32 Section 4.3 Binding Effect ...................................................................................................... 33 Section 4.4 Financial Information .......................................................................................... 33 Section 4.5 Litigation .............................................................................................................. 33 Section 4.6 Compliance with ERISA ..................................................................................... 33 Section 4.7 Taxes .................................................................................................................... 34 Section 4.8 Subsidiaries .......................................................................................................... 34 Section 4.9 Regulatory Restrictions on Borrowing ................................................................ 34 Section 4.10 Full Disclosure ..................................................................................................... 34 Section 4.11 Use of Credit; Investment Company Act ............................................................. 34 Section 4.12 Anti-Corruption Laws and Sanctions................................................................... 34 Section 4.13 Acquisition Documents ........................................................................................ 35 Article 5 COVENANTS ............................................................................................................................. 35 Section 5.1 Information .......................................................................................................... 35 Section 5.2 Conduct of Business and Maintenance of Existence ........................................... 36 Section 5.3 Compliance with Laws; Borrowing Authorization .............................................. 37 Section 5.4 Financial Covenants ............................................................................................. 37 Section 5.5 Consolidations, Mergers and Sales of Assets ...................................................... 38 ii WEIL:\96719829\13\99980.0025 TABLE OF CONTENTS (continued) Section 5.6 Use of Proceeds ................................................................................................... 38 Section 5.7 Negative Pledge ................................................................................................... 38 Section 5.8 Taxes, Etc ............................................................................................................ 39 Section 5.9 Maintenance of Insurance .................................................................................... 39 Section 5.10 Subsidiary Debt.................................................................................................... 39 Section 5.11 Scheme and Offer ................................................................................................ 40 Article 6 DEFAULTS ................................................................................................................................. 41 Section 6.1 Events of Default ................................................................................................. 41 Section 6.2 Clean-up Date ...................................................................................................... 43 Article 7 THE ADMINISTRATIVE AGENT ............................................................................................ 44 Section 7.1 Authorization and Authority ................................................................................ 44 Section 7.2 Rights as a Lender ................................................................................................ 44 Section 7.3 Duties of Administrative Agent; Exculpatory Provisions.................................... 44 Section 7.4 Reliance by Administrative Agent ....................................................................... 45 Section 7.5 Delegation of Duties ............................................................................................ 46 Section 7.6 Resignation of Administrative Agent .................................................................. 46 Section 7.7 Non-Reliance on Agent and Other Lenders ......................................................... 46 Section 7.8 Indemnification .................................................................................................... 47 Section 7.9 Administrative Agent’s Fee ................................................................................. 47 Section 7.10 No Other Duties, etc ...........................................................................................