8-KMaterial Agreements

Aon plc 8-K Report, Material Agreement (Feb 14, 2006)

Filed February 14, 2006For Securities:AON

Summary

This 8-K filing from Aon Corporation, dated February 14, 2006, reports on a material definitive agreement entered into by its subsidiary, Aon Holdings b.v. The agreement concerns a supplemental pension benefit for Dirk P.M. Verbeek, Chairman and Chief Executive Officer of Aon Risk Services International, tied to his decision to delay early retirement. Investors should note the specifics of the supplemental pension, which is linked to Mr. Verbeek's base salary for services performed in the Netherlands (€463,867/U.S. $553,576). The terms allow for different benefit structures depending on whether retirement occurs between ages 56½ and 62, or between ages 62 and 65, with provisions for spousal benefits in the event of Mr. Verbeek's death before age 62. While this is an executive compensation matter, it outlines a potential financial commitment for the company.

Key Highlights

  • 1Aon Corporation subsidiary Aon Holdings b.v. entered into a material definitive agreement on February 8, 2006.
  • 2The agreement is with Dirk P.M. Verbeek, CEO of Aon Risk Services International.
  • 3The agreement establishes terms for a supplemental pension benefit for Mr. Verbeek.
  • 4The supplemental pension is contingent on Mr. Verbeek delaying his early retirement.
  • 5The benefit amount is linked to Mr. Verbeek's base salary for services performed in the Netherlands (€463,867 / U.S. $553,576 as of the report date).
  • 6Different supplemental pension structures apply based on retirement age (between 56½-62 or 62-65).
  • 7The agreement includes provisions for spousal benefits if Mr. Verbeek dies before age 62.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose a material definitive agreement entered into by Aon Corporation's subsidiary, Aon Holdings b.v., with Dirk P.M. Verbeek, related to his supplemental pension benefits tied to delayed retirement.

The agreement outlines a potential future financial commitment for Aon Holdings b.v. in the form of supplemental pension payments to Mr. Verbeek, contingent on his retirement timing. The exact financial impact depends on when Mr. Verbeek chooses to retire and the terms of the agreement at that time. The base salary referenced is €463,867 / U.S. $553,576.

Dirk P.M. Verbeek is identified as the Chairman and Chief Executive Officer of Aon Risk Services International.

Yes, the agreement states that Mr. Verbeek's spouse will be entitled to receive the supplemental pension benefit if Mr. Verbeek dies prior to attaining age 62.