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<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>
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      <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>November 17, 2005</FONT></U></P></TD></TR></TABLE>
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      <P
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    <TD
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      <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>
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      <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>
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    <TD width=1></TD>
    <TD width=534></TD></TR></TABLE>
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      <P
      style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=3>Delaware</FONT></P></TD>
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      <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
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      <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>
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      <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
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      <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>
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      <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>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=3></FONT>&nbsp;</P>
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      <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>
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      <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
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      <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>
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<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>
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      <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>
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<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>
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      <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>
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      <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>
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    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>
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    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>
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    <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="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;'><font size=2></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;'><b><font SIZE=3>Item 1.01.&nbsp;&nbsp;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-indent:0.80in;text-align:left;'><font SIZE=3>On November 17, 2005, Marsh &amp; McLennan Companies, Inc. (&#147;MMC&#148;") entered into an employment agreement (the &#147;Agreement&#148;) with Mathis Cabiallavetta, MMC's Vice Chairman, Office of the Chief Executive Officer.
</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-indent:0.80in;text-align:left;'><font SIZE=3>The Agreement is effective as of November 1, 2005 and has an initial term of three years.
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
does not renew the Agreement, then upon the subsequent termination of Mr. Cabiallavetta's employment (other than termination by MMC for cause, as defined in the
Agreement), Mr. Cabiallavetta would be deemed to have twenty-five (25) years of service under the MMC Special Severance Pay Plan as of the date of termination.  The
effect of this provision on Mr. Cabiallavetta's participation in the MMC Special Severance Pay Plan is to provide him with shares of MMC stock equal to 90% of the value
of certain restricted stock, or awards in lieu of restricted stock, that are forfeited upon termination of his 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-indent:0.80in;text-align:left;'><font SIZE=3>Under the Agreement, Mr. Cabiallavetta is entitled to an annual base salary divided into two parts based on expected worktime in the United States.  The two parts are
$360,000 and 810,000 Swiss Francs (CHF) (with adjustment for actual days worked in the US).  Mr. Cabiallavetta is eligible for an annual bonus opportunity with a range
of 100% to 200% of his annual base salary.  The bonus will be paid in U.S. dollars ($) and Swiss Francs (CHF) consistent with the methodology used to pay Mr.
Cabiallavetta's base salary.  Mr. Cabiallavetta will be eligible to participate in MMC's long-term incentive compensation plans applicable to senior executive officers,
under which he 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 two-times annual base salary.  The Agreement also provides for a retention award comprised of 21,200 restricted stock units that vest on October 31,
2008.</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-indent:0.80in;text-align:left;'><font SIZE=3>If Mr. Cabiallavetta's employment is terminated for any reason, he will receive previously earned but unpaid base salary and bonus.  If his employment is terminated by
MMC other than for cause (as defined in the Agreement) or if he resigns for good reason (as defined in the Agreement), Mr. Cabiallavetta would also be entitled to
receive a lump sum payment equal to the sum of his then current annual base salary and his average annual bonus during the previous three years, a prorated annual bonus
for the year of termination of employment and vesting of his equity awards, and he would be deemed to have twenty-five (25) years of service under the MMC Special
Severance Pay Plan as of the date of termination.  If such termination of employment without cause or for good reason is in connection with a change in control (as
defined in the Agreement), Mr. Cabiallavetta would be entitled to receive two times the sum of his annual base salary and average annual bonus during the previous three
years, as well as a prorated annual bonus for the year of termination of employment and vesting of his 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>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=3>2</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-indent:0.80in;text-align:left;'><font SIZE=3>Payments made to Mr. Cabiallavetta in connection with his termination of employment are generally subject to his delivery to MMC of a general release of claims.  Under
the Agreement, Mr. Cabiallavetta will be subject to certain non-competition and non-solicitation restrictions for twelve months following his termination of 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-indent:0.80in;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, attached hereto as Exhibit 10.1 and
incorporated herein by reference.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font SIZE=3>&nbsp;</font></p>
<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 9.01.  &nbsp;&nbsp;Financial Statements and Exhibits</font></b></p>

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

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font SIZE=3>(a)</font></b></p> </td>
        <td width="117" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><FONT SIZE="3"><B>Not applicable</B> </FONT></p> </td> </tr></table>

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

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    <tr >
        <td width="41" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font SIZE=3>(b)</font></b></p> </td>
        <td width="117" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><FONT SIZE="3"><B>Not applicable</B> </FONT></p> </td> </tr></table>

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

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            <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="117" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><FONT SIZE="3"><B>Not applicable</B> </FONT></p> </td> </tr></table>

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

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        <td width="41" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <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="117" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><FONT SIZE="3"><B>Exhibits</B> </FONT></p> </td> </tr></table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font SIZE=2>&nbsp;</font></p>

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    <tr >
        <td width="50" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <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 width="560" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font SIZE=3>Employment Agreement, dated November 17, 2005 and effective as of November 1, 2005, between Marsh &amp; McLennan Companies, Inc. and Mathis Cabiallavetta
<BR> </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>3</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:9pt; margin-top:0pt;text-align:center;'><b><font SIZE=3>SIGNATURES</font></b></p>

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

<p style=' margin-bottom:6pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><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; margin-left:3.25in;text-align:justify;'><font SIZE=3>&nbsp;</font></p>

<p style=' margin-bottom:6pt; margin-top:0pt; margin-left:2.90in;text-align:justify;'><b><font SIZE=3>MARSH &amp; McLENNAN COMPANIES, INC.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3.25in;text-align:justify;'><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; margin-left:3.25in;text-align:justify;'><font SIZE=3>&nbsp;</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="224" style='border-collapse:collapse'>
    <tr >
        <td width="40" valign=top style='padding:0pt 0pt 12.0pt 0pt'>
            <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="184" valign=top style='padding:0pt 0pt 12.0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font SIZE=3>November 22, 2005</font></p> </td> </tr></table>

<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>4</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;'><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>

<table border="0" cellspacing=0 cellpadding=0 width="656" style='border-collapse:collapse'>
    <tr >
        <td width="90" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font SIZE=3>Exhibit No.</font></u></p> </td>
        <td width="566" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font SIZE=3>Description</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="656" style='border-collapse:collapse'>
    <tr >
        <td width="90" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <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 width="566" valign=top style='padding:0pt 0pt 0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font SIZE=3>Employment Agreement, dated November 17, 2005 and effective as of November 1, 2005, between Marsh &amp; McLennan Companies, Inc. and Mathis Cabiallavetta
</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>5</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>


</div>
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{"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": "051223917"}, "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)
November 17, 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 November 17, 2005, Marsh & McLennan Companies, Inc. ("MMC"") entered into an employment agreement (the "Agreement") with Mathis Cabiallavetta, MMC's Vice Chairman, Office of the Chief Executive Officer.
The Agreement is effective as of November 1, 2005 and has an initial term of three years.
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
does not renew the Agreement, then upon the subsequent termination of Mr. Cabiallavetta's employment (other than termination by MMC for cause, as defined in the
Agreement), Mr. Cabiallavetta would be deemed to have twenty-five (25) years of service under the MMC Special Severance Pay Plan as of the date of termination.  The
effect of this provision on Mr. Cabiallavetta's participation in the MMC Special Severance Pay Plan is to provide him with shares of MMC stock equal to 90% of the value
of certain restricted stock, or awards in lieu of restricted stock, that are forfeited upon termination of his employment.
Under the Agreement, Mr. Cabiallavetta is entitled to an annual base salary divided into two parts based on expected worktime in the United States.  The two parts are
$360,000 and 810,000 Swiss Francs (CHF) (with adjustment for actual days worked in the US).  Mr. Cabiallavetta is eligible for an annual bonus opportunity with a range
of 100% to 200% of his annual base salary.  The bonus will be paid in U.S. dollars ($) and Swiss Francs (CHF) consistent with the methodology used to pay Mr.
Cabiallavetta's base salary.  Mr. Cabiallavetta will be eligible to participate in MMC's long-term incentive compensation plans applicable to senior executive officers,
under which he 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 two-times annual base salary.  The Agreement also provides for a retention award comprised of 21,200 restricted stock units that vest on October 31,
2008.
If Mr. Cabiallavetta's employment is terminated for any reason, he will receive previously earned but unpaid base salary and bonus.  If his employment is terminated by
MMC other than for cause (as defined in the Agreement) or if he resigns for good reason (as defined in the Agreement), Mr. Cabiallavetta would also be entitled to
receive a lump sum payment equal to the sum of his then current annual base salary and his average annual bonus during the previous three years, a prorated annual bonus
for the year of termination of employment and vesting of his equity awards, and he would be deemed to have twenty-five (25) years of service under the MMC Special
Severance Pay Plan as of the date of termination.  If such termination of employment without cause or for good reason is in connection with a change in control (as
defined in the Agreement), Mr. Cabiallavetta would be entitled to receive two times the sum of his annual base salary and average annual bonus during the previous three
years, as well as a prorated annual bonus for the year of termination of employment and vesting of his equity awards.
2
Payments made to Mr. Cabiallavetta in connection with his termination of employment are generally subject to his delivery to MMC of a general release of claims.  Under
the Agreement, Mr. Cabiallavetta will be subject to certain non-competition and non-solicitation restrictions for twelve months following his termination of employment.
The foregoing description of the Agreement is not complete and is qualified in its entirety by reference to the Agreement, attached hereto as Exhibit 10.1 and
incorporated herein by reference.
Item 9.01.    Financial Statements and Exhibits
(a)
Not applicable
(b)
Not applicable
(c)
Not applicable
(d)
Exhibits
10.1
Employment Agreement, dated November 17, 2005 and effective as of November 1, 2005, between Marsh & McLennan Companies, Inc. and Mathis Cabiallavetta
3
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:
November 22, 2005
4
Exhibit Index
Exhibit No.
Description
10.1
Employment Agreement, dated November 17, 2005 and effective as of November 1, 2005, between Marsh & McLennan Companies, Inc. and Mathis Cabiallavetta
5