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Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Pay vs Performance Disclosure [Table]

Pay vs Performance [Table Text Block]

Pay vs. Performance

As described in the Compensation Discussion & Analysis (“CD&A”), Aon has a strong pay for performance philosophy that shapes how we deliver compensation to all colleagues, including the senior executives of the firm. This is evidenced by (1) the weighting of fixed vs variable compensation awarded annually, (2) the proportion of variable compensation delivered in the form of company equity instruments, and (3) the proportion of equity awards that are leveraged on performance conditions above and beyond share price.

2022 Compensation Details

Variable compensation awarded to the CEO and other NEOs (on average) represented 92% and 81%, respectively, of the total compensation awarded for 2022. To maximize shareholder alignment, 100% of their variable compensation was delivered in the form of equity, including the annual incentive for the year. Finally, 100% and 89%, respectively, of the equity compensation for the CEO and other NEOs (on average) is comprised of performance share units (“PSU”) under our Leadership Performance Program (“LPP”) that can result in a 0x – 2x payout based on performance against Adjusted EPS goals which we believe closely

aligns

with shareholder value creation.

PVP Disclosure

In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation covering calculations and narrative of Compensation Actually Paid (“CAP”) under new SEC Pay Versus Performance (“PVP”) disclosure requirements for our principal executive officer (“PEO”) and

Non-PEO

NEOs and Company performance for the fiscal years listed below. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.


Year	Summary Compensation Table Total for PEO 1 ($)		CAP to PEO 1,2 ($)		Average Summary Compensation Table Total for Non-PEO NEOs 1 ($)		Average CAP Paid to Non-PEO NEOs 1,2 ($)		Value of Initial Fixed $100 Investment based on: 3				Net Income ($ Millions)		Adjusted Earnings per Share Growth 4
Year	Summary Compensation Table Total for PEO 1 ($)		CAP to PEO 1,2 ($)				Average CAP Paid to Non-PEO NEOs 1,2 ($)		TSR ($)		Peer Group TSR ($)		Net Income ($ Millions)		Adjusted Earnings per Share Growth 4
2022		19,668,985		18,597,824		6,643,617		6,468,548		148		119		2,589		12	%
2021		19,868,384		100,549,260		7,644,425		25,579,739		147		133		1,308		22	%
2020		20,294,496		39,382,835		6,898,103		11,457,219		102		98		2,018		7	%

The principal executive officer (PEO) for each year reflected in the table is Gregory C. Case, the Company’s Chief Executive Officer. The non-PEO NEOs are Christa Davies, Eric Andersen, Lisa Stevens (for years 2021 and 2022 only), Darren Zeidel (for years 2021 and 2022 only), John Bruno (for 2020 only) and Anthony Goland (for 2020 only).

The amounts shown for CAP have been calculated in accordance with Item 402(v) of Regulation

S-K

and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. CAP amounts reflect the Summary Compensation Table Total with exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table.

PEO



Year	Summary Compensation Table Total for PEO		Exclusion of Stock Awards for PEO			Inclusion of Equity Values for PEO		CAP to PEO
2022		19,668,985		(17,497,455	)		16,426,294		18,597,824
2021		19,868,384		(15,262,436	)		95,943,312		100,549,260
2020		20,294,496		(15,880,566	)		34,968,905		39,382,835

Average Non-PEO NEOs



Year	Average Summary Compensation Table Total for Non-PEO NEOs		Average Exclusion of Change in Pension Value for Non-PEO NEOs			Average Exclusion of Stock Awards for Non-PEO NEOs			Average Inclusion of Equity Values for Non-PEO NEOs		Average CAP to Non-PEO NEOs
2022		6,643,617		—			(4,729,173	)		4,554,104		6,468,548
2021		7,644,425		—			(4,583,837	)		22,519,151		25,579,739
2020		6,898,103		(76,821	)		(4,387,596	)		9,023,533		11,457,219

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set

forth

in the following tables:

PEO



Year	Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO		Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO			Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO			Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for PEO		Total - Inclusion of Equity Values for PEO
2022		16,554,822		(52,980	)		(83,279	)		7,731		16,426,294
2021		39,121,312		38,650,509			18,164,704			6,787		95,943,312
2020		20,945,730		12,672,451			1,339,915			10,809		34,968,905

Average Non-PEO NEOs



Year	Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs		Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs			Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs			Average Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for Non-PEO NEOs		Total - Average Inclusion of Equity Values for Non-PEO NEOs
2022		4,599,376		(15,750	)		(37,513	)		7,991		4,554,104
2021		11,411,916		8,245,180			2,859,048			3,007		22,519,151
2020		5,771,045		2,890,055			357,014			5,419		9,023,533

The Peer Group TSR set forth in this table utilizes the S&P 500 Financials Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation

S-K

included in our Annual Report for the year ended December 31, 2022. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the S&P 500 Financials Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.

We determined Adjusted EPS to be the most important financial performance measure used to link Company performance to CAP to our PEO and

Non-PEO

NEOs in 2022. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.

Company Selected Measure Name

Adjusted EPS

Named Executive Officers, Footnote [Text Block]

Peer Group Issuers, Footnote [Text Block]

The Peer Group TSR set forth in this table utilizes the S&P 500 Financials Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation

S-K

PEO Total Compensation Amount

$ 19,668,985

$ 19,868,384

$ 20,294,496

PEO Actually Paid Compensation Amount

$ 18,597,824

100,549,260

39,382,835

Adjustment To PEO Compensation, Footnote [Text Block]

PEO



Year	Summary Compensation Table Total for PEO		Exclusion of Stock Awards for PEO			Inclusion of Equity Values for PEO		CAP to PEO
2022		19,668,985		(17,497,455	)		16,426,294		18,597,824
2021		19,868,384		(15,262,436	)		95,943,312		100,549,260
2020		20,294,496		(15,880,566	)		34,968,905		39,382,835

Average Non-PEO NEOs



Year	Average Summary Compensation Table Total for Non-PEO NEOs		Average Exclusion of Change in Pension Value for Non-PEO NEOs			Average Exclusion of Stock Awards for Non-PEO NEOs			Average Inclusion of Equity Values for Non-PEO NEOs		Average CAP to Non-PEO NEOs
2022		6,643,617		—			(4,729,173	)		4,554,104		6,468,548
2021		7,644,425		—			(4,583,837	)		22,519,151		25,579,739
2020		6,898,103		(76,821	)		(4,387,596	)		9,023,533		11,457,219

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set

forth

in the following tables:

PEO



Year	Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO		Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO			Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO			Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for PEO		Total - Inclusion of Equity Values for PEO
2022		16,554,822		(52,980	)		(83,279	)		7,731		16,426,294
2021		39,121,312		38,650,509			18,164,704			6,787		95,943,312
2020		20,945,730		12,672,451			1,339,915			10,809		34,968,905

Average Non-PEO NEOs



Year	Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs		Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs			Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs			Average Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for Non-PEO NEOs		Total - Average Inclusion of Equity Values for Non-PEO NEOs
2022		4,599,376		(15,750	)		(37,513	)		7,991		4,554,104
2021		11,411,916		8,245,180			2,859,048			3,007		22,519,151
2020		5,771,045		2,890,055			357,014			5,419		9,023,533

Non-PEO NEO Average Total Compensation Amount

$ 6,643,617

7,644,425

6,898,103

Non-PEO NEO Average Compensation Actually Paid Amount

$ 6,468,548

25,579,739

11,457,219

Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

PEO



Year	Summary Compensation Table Total for PEO		Exclusion of Stock Awards for PEO			Inclusion of Equity Values for PEO		CAP to PEO
2022		19,668,985		(17,497,455	)		16,426,294		18,597,824
2021		19,868,384		(15,262,436	)		95,943,312		100,549,260
2020		20,294,496		(15,880,566	)		34,968,905		39,382,835

Average Non-PEO NEOs



Year	Average Summary Compensation Table Total for Non-PEO NEOs		Average Exclusion of Change in Pension Value for Non-PEO NEOs			Average Exclusion of Stock Awards for Non-PEO NEOs			Average Inclusion of Equity Values for Non-PEO NEOs		Average CAP to Non-PEO NEOs
2022		6,643,617		—			(4,729,173	)		4,554,104		6,468,548
2021		7,644,425		—			(4,583,837	)		22,519,151		25,579,739
2020		6,898,103		(76,821	)		(4,387,596	)		9,023,533		11,457,219

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set

forth

in the following tables:

PEO



Year	Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO		Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO			Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO			Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for PEO		Total - Inclusion of Equity Values for PEO
2022		16,554,822		(52,980	)		(83,279	)		7,731		16,426,294
2021		39,121,312		38,650,509			18,164,704			6,787		95,943,312
2020		20,945,730		12,672,451			1,339,915			10,809		34,968,905

Average Non-PEO NEOs



Year	Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs		Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs			Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs			Average Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for Non-PEO NEOs		Total - Average Inclusion of Equity Values for Non-PEO NEOs
2022		4,599,376		(15,750	)		(37,513	)		7,991		4,554,104
2021		11,411,916		8,245,180			2,859,048			3,007		22,519,151
2020		5,771,045		2,890,055			357,014			5,419		9,023,533

Compensation Actually Paid vs. Total Shareholder Return [Text Block]

Compensation Actually Paid vs. Net Income [Text Block]

Our Net Income grew 28% over the 2019-2022 period reflective of strong growth and performance on our key financial metrics, though Net Income decreased in 2021, reflecting strong revenue growth offset by expenses that were not representative of our normal business operations, followed by an increase in 2022 to a level reflecting overall strong growth from 2020. Net Income performance does not have a strong relationship with the reported CAP to our PEO and Non-PEO NEOs given the lower relative weighting of this measurement of performance as compared to the others previously discussed.

Compensation Actually Paid vs. Company Selected Measure [Text Block]

Total Shareholder Return Vs Peer Group [Text Block]

Tabular List [Table Text Block]

Tabular List of Most Important Financial Performance Measures

The following table presents the financial performance measures that the Company considers to have been the most important in linking CAP to our PEO and

Non-PEO

NEOs for 2022 to Company performance. The measures in this table are not ranked.

Adjusted Earnings Per Share Growth

Adjusted Operating Income Growth

Total Shareholder Return Amount

$ 148

147

102

Peer Group Total Shareholder Return Amount

119

133

Net Income (Loss)