<HTML>
<HEAD>
<TITLE> </TITLE>
</HEAD>
<BODY bgcolor="#ffffff" style='font-family:"Times New Roman"'>

<div style='width:650;'>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=3>UNITED STATES</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=3>SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=3>Washington, D.C. 20549</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=3>_____________________</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=3>FORM 8-K</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=3>CURRENT REPORT</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=3>Pursuant to Section 13 or 15(d) of the </FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=3>Securities Exchange Act of 1934</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=3></FONT>&nbsp;</P>
<TABLE style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellPadding=0 width=498 border=0></TABLE>
<TABLE>
  <TR>
    <TD vAlign=top width=348>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=3>Date of report (Date of earliest event reported)</FONT></P></TD>
    <TD vAlign=top width=150>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><U><FONT size=3>December 16, 2005</FONT></U></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>

<TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width=625 border=0>
  <TR>
    <TD width=1>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=1></FONT>&nbsp;</P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" vAlign=top width=624>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>Marsh &amp; McLennan Companies, Inc.</FONT></P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top colSpan=2>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>(Exact Name of Registrant as Specified in Charter)</FONT></P></TD></TR>
  <TR>
    <TD width=1></TD>
    <TD width=534></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width=625 border=0>

  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" vAlign=top width=197>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>Delaware</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" vAlign=top width=197>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>1-5998</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" vAlign=top width=232>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>36-2668272</FONT></P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width=197>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>(State or Other Jurisdiction</FONT></P>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>of Incorporation)</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width=197>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>(Commission File Number)</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width=232>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>(IRS Employer</FONT></P>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>Identification No.)</FONT></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width=625 border=0>

  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" vAlign=top width=391>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>1166 Avenue of the Americas, New York, NY</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" vAlign=top width=234>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>10036</FONT></P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width=391>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>(Address of Principal Executive Offices)</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width=234>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>(Zip Code)</FONT></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=3></FONT>&nbsp;</P>
<TABLE style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellSpacing=0 width=468 border=0>
<TR>
    <TD vAlign=top width=348>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=3>Registrant's telephone number, including area code</FONT></P></TD>
    <TD vAlign=top width=120>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><U><FONT size=3>(212) 345-5000</FONT></U></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=3></FONT>&nbsp;</P>
<P
style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><FONT size=3>Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=3></FONT>&nbsp;</P>
<TABLE style="MARGIN-LEFT: 27.35pt; BORDER-COLLAPSE: collapse" cellSpacing=0>
  <TR>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 3pt; PADDING-TOP: 0in" vAlign=top width=24>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=4><B>&#144;</B></FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 3pt; PADDING-TOP: 0in" vAlign=top>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=3>Written communications pursuant to Rule 425 under the Securities
      Act (17 CFR 230.425)</FONT></P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 3pt; PADDING-TOP: 0in" vAlign=top width=24>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=4><B>&#144;</B></FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 3pt; PADDING-TOP: 0in" vAlign=top>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=3>Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)</FONT></P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 3pt; PADDING-TOP: 0in" vAlign=top width=24>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=4><B>&#144;</B></FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 3pt; PADDING-TOP: 0in" vAlign=top>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=3>Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width=24>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=4><B>&#144;</B></FONT></P></TD>
    <TD vAlign=top>
      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=3>Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))</FONT></P></TD></TR></TABLE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<P style="PAGE-BREAK-BEFORE: always"></P>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
<b><font size=3>Item 1.01.</font></b><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size=3>Entry Into a Material Definitive Agreement</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>On December 20, 2005, Marsh &amp; McLennan Companies, Inc. (&#147;MMC&#148;) announced that MMC and M. Michele Burns have entered into an employment agreement, dated as of December 19, 2005 (the &#147;Agreement&#148;), pursuant to which Ms. Burns will become an Executive Vice President of MMC on March 1, 2006 and will become the Chief Financial Officer of MMC not later than March 31, 2006. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>The Agreement has an initial term commencing March 1, 2006 and ending March 31, 2009.  The Agreement will automatically renew for successive one (1) year terms unless either party notifies the other that it does not wish to renew the Agreement.  If MMC provides notice of non-renewal of the Agreement before Ms. Burns attains age 62, then upon the subsequent termination of her employment (other than termination by MMC for cause, as defined in the Agreement), MMC will pay Ms. Burns an amount equal to her annual base salary.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>Under the Agreement, Ms. Burns is entitled to an annual base salary of $750,000.  Ms. Burns is eligible for an annual bonus opportunity with a range of 100% to 200% of her annual base salary, with a minimum bonus for 2006 performance of $750,000.  Ms. Burns will be eligible to participate in MMC&#146;s long-term incentive compensation plans applicable to senior executive officers, under which she will be eligible for an annual grant comprised of a mix of long-term equity incentive compensation awards with a combined grant-date target value of between one-time and three-times her annual base salary.  The minimum combined grant-date target value of long-term incentive compensation to be granted to Ms. Burns in 2006 is $2.625 million.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>The Agreement provides that MMC will reimburse Ms. Burns for certain temporary housing and travel expenses for up to eighteen months, with such amounts grossed-up for income taxes. The Agreement also provides that MMC will make payments to Ms. Burns (up to $1.8 million) intended to offset certain awards from her previous employer in the event that she forfeits those awards.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>If Ms. Burns's employment is terminated for any reason, she will receive previously earned but unpaid base salary and bonus.  If her employment is terminated by MMC other than for cause (as defined in the Agreement) or if she resigns for good reason (as defined in the Agreement), Ms. Burns would also be entitled to receive (i) a lump sum payment equal to two times the sum of her then current annual base salary and her average annual bonus during the previous three years, (ii) a prorated annual bonus for the year of termination of employment and (iii) vesting of her equity awards.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>Payments made to Ms. Burns in connection with termination of her employment are generally subject to her delivery to MMC of a general release of claims.  Under the Agreement, Ms. Burns will be subject to certain non-competition and non-solicitation restrictions for twelve months following termination of her employment.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>The foregoing description of the Agreement is not complete and is qualified in its entirety by reference to the Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=3>2</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=3>Item 5.02</font></b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size=3>Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="363" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=3>(c)</font></b></p> </td>
        <td width="315" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=3>Appointment of Principal Financial Officer</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>See Item 1.01 above, incorporated herein by reference, for a description of the employment agreement entered into between MMC and M. Michele Burns, pursuant to which Ms. Burns will become an Executive Vice President of MMC on March 1, 2006 and will become the Chief Financial Officer of MMC not later than March 31, 2006.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>Ms. Burns, 47, has been executive vice president, chief financial officer, and chief restructuring officer of Mirant Corporation, a competitive energy company, since 2004.  Prior to joining Mirant, Ms. Burns had spent five years at Delta Air Lines, Inc., last serving as executive vice president and chief financial officer.  Before joining Delta, she was a senior tax partner at Arthur Andersen LLP.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>A copy of MMC&#146;s press release dated December 20, 2005, announcing the appointment of Ms. Burns, is attached hereto as Exhibit 99.1 and incorporated herein by reference.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="223" style='border-collapse:collapse'>
    <tr >
        <td width="61" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=3>(d)</font></b></p> </td>
        <td width="161" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=3>Election of Directors</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>On December 21, 2005, MMC announced that its board of directors has elected Leslie M. (&#147;Bud&#148;) Baker, Jr. and Marc D. Oken to the board of directors, effective January 18, 2006.  Mr. Baker retired in 2003 from Wachovia Corporation, where he had served as chairman since 1998.  Mr. Oken held executive positions at Bank of America Corporation from 1989 to 2005, serving most recently as chief financial officer.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>MMC&#146;s board of directors elected Messrs. Baker and Oken at a meeting on December 16, 2005.  Messrs. Baker and Oken will both serve in the class of directors whose terms expire in May 2006.  There are currently two directors in that class.  It has not yet been determined on which board committees Messrs. Baker and Oken will serve.  MMC&#146;s board of directors has determined that Messrs. Baker and Oken will be independent directors under the New York Stock Exchange listing standards and MMC&#146;s director independence standards, as set forth in MMC&#146;s guidelines for corporate governance.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>A copy of MMC&#146;s press release dated December 21, 2005, announcing the election of Messrs. Baker and Oken to MMC&#146;s board of directors, is attached hereto as Exhibit 99.2 and incorporated herein by reference.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=3>3</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>


<table border="0" cellspacing=0 cellpadding=0 width="207" style='border-collapse:collapse'>
    <tr >
        <td width="96" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=3>Item 8.01.</font></b></p> </td>
        <td width="111" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=3>Other Events</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0.5pt; margin-top:0.5pt;text-align:left;'><font size=3>Also on December 21, 2005, MMC announced that its board of directors, acting on the recommendation of the board&#146;s directors and governance committee, has approved an amendment to MMC&#146;s guidelines for corporate governance establishing a majority voting policy for the election of directors.</font></p>

<p style=' margin-bottom:0pt; margin-top:0.5pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0.5pt; margin-top:0.5pt;text-align:left;'><font size=3>Effective December 16, 2005, MMC&#146;s guidelines for corporate governance provide that:</font></p>

<p style=' margin-bottom:0pt; margin-top:0.5pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="24" valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td  valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>In an uncontested election of directors, any nominee for director who receives a greater number of votes &#147;withheld&#148; from his or her election than votes &#147;for&#148; his or her election must tender his or her resignation to the chairman of the board. </font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0.5pt; margin-left:0.25in;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="24" valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td  valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>The directors and governance committee of the board will consider the tendered resignation and recommend to the board whether to accept or reject it.  The board will act on the committee&#146;s recommendation within 90 days following the date of the shareholder vote.</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0.5pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="24" valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td  valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>MMC will make prompt public disclosure of the board&#146;s decision whether to accept or reject the tendered resignation, providing an explanation of the process by which the decision was reached and, if applicable, the board&#146;s reasons for rejecting the tendered resignation.</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0.5pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="24" valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0.5pt;margin-bottom:0.5pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
        <td  valign=top style='padding:.5pt 0in .5pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>Any director who tenders his or her resignation will not participate in the directors and governance committee&#146;s recommendation or the board&#146;s consideration regarding whether or not to accept the tendered resignation. </font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>The board of directors&#146; adoption of this majority voting policy is also addressed in MMC&#146;s press release dated December 21, 2005, a copy of which is attached hereto as Exhibit 99.2 and incorporated herein by reference.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="355" style='border-collapse:collapse'>
    <tr >
        <td width="96" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=3>Item 9.01.</font></b></p> </td>
        <td width="259" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=3>Financial Statements and Exhibits.</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="125" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=3>(d)</font></b></p> </td>
        <td width="77" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=3>Exhibits</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>10.1</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>Employment Agreement, dated as of December 19, 2005, between Marsh &amp; McLennan Companies, Inc. and M. Michele Burns</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>99.1</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>Press release of Marsh &amp; McLennan Companies, Inc., dated December 20, 2005, announcing the appointment of M. Michele Burns as Executive Vice President and Chief Financial Officer</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>99.2</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>Press release of Marsh &amp; McLennan Companies, Inc., dated December 21, 2005, announcing the election of Leslie M. Baker, Jr. and Marc D. Oken to the board of directors and the adoption of a majority voting policy for the election of directors</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=3>4</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font size=3>SIGNATURES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:left;'><font size=3>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.40in; text-indent:0.5in;text-align:left;'><font size=3>MARSH &amp; McLENNAN COMPANIES, INC.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="50%" style='margin-left:203.4pt;border-collapse:collapse'>
    <tr >
        <td width="20" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=3>By:</font></p> </td>
        <td width="380" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>/s/ Luciana Fato</font></p> </td> </tr></table>

<table border="0" cellspacing=0 cellpadding=0 width="188" style='margin-left:225.0pt;border-collapse:collapse'>
    <tr >
        <td width="60" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>&nbsp;&nbsp;&nbsp;Name:</font></p> </td>
        <td width="128" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>Luciana Fato</font></p> </td> </tr></table>

<table width="600" border="0" cellspacing=0 cellpadding=0 style='margin-left:225.0pt;border-collapse:collapse'>
    <tr >
        <td width="55" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>&nbsp;&nbsp;&nbsp;Title:</font></p> </td>
        <td width="535" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>&nbsp;Deputy General Counsel-Corporate &amp;</font></p> </td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:3.63in;text-align:left;'><font SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Secretary</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="193" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>Date:</font></p> </td>
        <td width="145" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>December 22, 2005</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=3>5</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font size=3>EXHIBIT INDEX</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>Exhibit</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="163" style='border-collapse:collapse'>
    <tr >
        <td width="96" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=3>Number</font></u></p> </td>
        <td width="67" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=3>Exhibit</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>10.1</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>Employment Agreement, dated as of December 19, 2005, between Marsh &amp; McLennan Companies, Inc. and M. Michele Burns</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>99.1</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>Press release of Marsh &amp; McLennan Companies, Inc., dated December 20, 2005, announcing the appointment of M. Michele Burns as Executive Vice President and Chief Financial Officer</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>99.2</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=3>Press release of Marsh &amp; McLennan Companies, Inc., dated December 21, 2005, announcing the election of Leslie M. Baker, Jr. and Marc D. Oken to the board of directors and the adoption of a majority voting policy for the election of directors</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=3>6</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>


</div>
</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "f8kburnsempagrmt12-2005.htm", "description": "BURNS-BAKER-OKEN", "secsgml_size_bytes": 41005}]
{"company-data": {"conformed-name": "MARSH & MCLENNAN COMPANIES, INC.", "cik": "0000062709", "assigned-sic": "6411", "irs-number": "362668272", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-05998", "film-number": "051282433"}, "business-address": {"street1": "1166 AVENUE OF THE AMERICAS", "city": "NEW YORK", "state": "NY", "zip": "10036", "phone": "2123455000"}, "mail-address": {"street1": "1166 AVENUE OF THE AMERICAS", "city": "NEW YORK", "state": "NY", "zip": "10036"}, "former-company": [{"former-conformed-name": "MARSH & MCLENNAN COMPANIES INC", "date-changed": "19920703"}, {"former-conformed-name": "MARLENNAN CORP", "date-changed": "19760505"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported)
December 16, 2005
Marsh & McLennan Companies, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware
1-5998
36-2668272
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
1166 Avenue of the Americas, New York, NY
10036
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code
(212) 345-5000
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities
      Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.
Entry Into a Material Definitive Agreement
On December 20, 2005, Marsh & McLennan Companies, Inc. ("MMC") announced that MMC and M. Michele Burns have entered into an employment agreement, dated as of December 19, 2005 (the "Agreement"), pursuant to which Ms. Burns will become an Executive Vice President of MMC on March 1, 2006 and will become the Chief Financial Officer of MMC not later than March 31, 2006.
The Agreement has an initial term commencing March 1, 2006 and ending March 31, 2009.  The Agreement will automatically renew for successive one (1) year terms unless either party notifies the other that it does not wish to renew the Agreement.  If MMC provides notice of non-renewal of the Agreement before Ms. Burns attains age 62, then upon the subsequent termination of her employment (other than termination by MMC for cause, as defined in the Agreement), MMC will pay Ms. Burns an amount equal to her annual base salary.
Under the Agreement, Ms. Burns is entitled to an annual base salary of $750,000.  Ms. Burns is eligible for an annual bonus opportunity with a range of 100% to 200% of her annual base salary, with a minimum bonus for 2006 performance of $750,000.  Ms. Burns will be eligible to participate in MMC's long-term incentive compensation plans applicable to senior executive officers, under which she will be eligible for an annual grant comprised of a mix of long-term equity incentive compensation awards with a combined grant-date target value of between one-time and three-times her annual base salary.  The minimum combined grant-date target value of long-term incentive compensation to be granted to Ms. Burns in 2006 is $2.625 million.
The Agreement provides that MMC will reimburse Ms. Burns for certain temporary housing and travel expenses for up to eighteen months, with such amounts grossed-up for income taxes. The Agreement also provides that MMC will make payments to Ms. Burns (up to $1.8 million) intended to offset certain awards from her previous employer in the event that she forfeits those awards.
If Ms. Burns's employment is terminated for any reason, she will receive previously earned but unpaid base salary and bonus.  If her employment is terminated by MMC other than for cause (as defined in the Agreement) or if she resigns for good reason (as defined in the Agreement), Ms. Burns would also be entitled to receive (i) a lump sum payment equal to two times the sum of her then current annual base salary and her average annual bonus during the previous three years, (ii) a prorated annual bonus for the year of termination of employment and (iii) vesting of her equity awards.
Payments made to Ms. Burns in connection with termination of her employment are generally subject to her delivery to MMC of a general release of claims.  Under the Agreement, Ms. Burns will be subject to certain non-competition and non-solicitation restrictions for twelve months following termination of her employment.
The foregoing description of the Agreement is not complete and is qualified in its entirety by reference to the Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
2
Item 5.02
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
(c)
Appointment of Principal Financial Officer
See Item 1.01 above, incorporated herein by reference, for a description of the employment agreement entered into between MMC and M. Michele Burns, pursuant to which Ms. Burns will become an Executive Vice President of MMC on March 1, 2006 and will become the Chief Financial Officer of MMC not later than March 31, 2006.
Ms. Burns, 47, has been executive vice president, chief financial officer, and chief restructuring officer of Mirant Corporation, a competitive energy company, since 2004.  Prior to joining Mirant, Ms. Burns had spent five years at Delta Air Lines, Inc., last serving as executive vice president and chief financial officer.  Before joining Delta, she was a senior tax partner at Arthur Andersen LLP.
A copy of MMC's press release dated December 20, 2005, announcing the appointment of Ms. Burns, is attached hereto as Exhibit 99.1 and incorporated herein by reference.
(d)
Election of Directors
On December 21, 2005, MMC announced that its board of directors has elected Leslie M. ("Bud") Baker, Jr. and Marc D. Oken to the board of directors, effective January 18, 2006.  Mr. Baker retired in 2003 from Wachovia Corporation, where he had served as chairman since 1998.  Mr. Oken held executive positions at Bank of America Corporation from 1989 to 2005, serving most recently as chief financial officer.
MMC's board of directors elected Messrs. Baker and Oken at a meeting on December 16, 2005.  Messrs. Baker and Oken will both serve in the class of directors whose terms expire in May 2006.  There are currently two directors in that class.  It has not yet been determined on which board committees Messrs. Baker and Oken will serve.  MMC's board of directors has determined that Messrs. Baker and Oken will be independent directors under the New York Stock Exchange listing standards and MMC's director independence standards, as set forth in MMC's guidelines for corporate governance.
A copy of MMC's press release dated December 21, 2005, announcing the election of Messrs. Baker and Oken to MMC's board of directors, is attached hereto as Exhibit 99.2 and incorporated herein by reference.
3
Item 8.01.
Other Events
Also on December 21, 2005, MMC announced that its board of directors, acting on the recommendation of the board's directors and governance committee, has approved an amendment to MMC's guidelines for corporate governance establishing a majority voting policy for the election of directors.
Effective December 16, 2005, MMC's guidelines for corporate governance provide that:
•
In an uncontested election of directors, any nominee for director who receives a greater number of votes "withheld" from his or her election than votes "for" his or her election must tender his or her resignation to the chairman of the board.
•
The directors and governance committee of the board will consider the tendered resignation and recommend to the board whether to accept or reject it.  The board will act on the committee's recommendation within 90 days following the date of the shareholder vote.
•
MMC will make prompt public disclosure of the board's decision whether to accept or reject the tendered resignation, providing an explanation of the process by which the decision was reached and, if applicable, the board's reasons for rejecting the tendered resignation.
•
Any director who tenders his or her resignation will not participate in the directors and governance committee's recommendation or the board's consideration regarding whether or not to accept the tendered resignation.
The board of directors' adoption of this majority voting policy is also addressed in MMC's press release dated December 21, 2005, a copy of which is attached hereto as Exhibit 99.2 and incorporated herein by reference.
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits
10.1
Employment Agreement, dated as of December 19, 2005, between Marsh & McLennan Companies, Inc. and M. Michele Burns
99.1
Press release of Marsh & McLennan Companies, Inc., dated December 20, 2005, announcing the appointment of M. Michele Burns as Executive Vice President and Chief Financial Officer
99.2
Press release of Marsh & McLennan Companies, Inc., dated December 21, 2005, announcing the election of Leslie M. Baker, Jr. and Marc D. Oken to the board of directors and the adoption of a majority voting policy for the election of directors
4
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MARSH & McLENNAN COMPANIES, INC.
By:
/s/ Luciana Fato
Name:
Luciana Fato
Title:
Deputy General Counsel-Corporate &
Corporate Secretary
Date:
December 22, 2005
5
EXHIBIT INDEX
Exhibit
Number
Exhibit
10.1
Employment Agreement, dated as of December 19, 2005, between Marsh & McLennan Companies, Inc. and M. Michele Burns
99.1
Press release of Marsh & McLennan Companies, Inc., dated December 20, 2005, announcing the appointment of M. Michele Burns as Executive Vice President and Chief Financial Officer
99.2
Press release of Marsh & McLennan Companies, Inc., dated December 21, 2005, announcing the election of Leslie M. Baker, Jr. and Marc D. Oken to the board of directors and the adoption of a majority voting policy for the election of directors
6