Marsh & McLennan Companies Inc. will pay former president and chief executive officer Michael G. Cherkasky $7.15 million as part of its separation agreement with him.

In a Securities and Exchange Commission filing last week, MMC said it came to agreement with Mr. Cherkasky on Feb. 15 to pay him a lump sum as part of his employment agreement. He received no bonus for 2007, and the figure was arrived at based on his salary and bonus for 2005 and 2006.

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