Exhibit 10.5

                                AMENDMENT TO THE
                       STOCK INVESTMENT SUPPLEMENTAL PLAN


      WHEREAS, this Board has previously adopted the Marsh & McLennan Companies
Stock Investment Supplemental Plan (the "Supplemental Plan") to provide benefits
to certain employees of this Corporation and its subsidiaries who would have
their benefits and contributions under the Marsh & McLennan Companies Stock
Investment Plan (the "Stock Investment Plan") limited by certain provisions of
the Internal Revenue Code of 1986, as amended; and

      WHEREAS, the Supplemental Plan was previously amended to provide a
diversification election comparable to that offered to eligible employees under
the Stock Investment Plan and this Board now deems it advisable to limit the
scope of such diversification.

      NOW, THEREFORE, BE IT RESOLVED, that the Supplemental Plan is hereby
amended to provide that, effective January 1, 2000 to the extent participant
account balances are deemed invested in shares of this Corporation's common
stock as of January 1, 2000 and thereafter such common stock shall not be
eligible for diversification; and further

      RESOLVED, that the proper officers of this Corporation are hereby
authorized and empowered to amend and restate the Supplemental Plan in any and
all respects as they, upon advice of counsel, may deem necessary or appropriate
to implement the foregoing resolution; and further

      RESOLVED, that the proper officers of this Corporation are hereby
authorized and empowered to take all other steps and to execute and deliver all
other instruments and documents as may be necessary or appropriate to carry out
the intent and purpose of the foregoing resolutions.

Effective:  January 1, 2000