8-KLeadership ChangesExhibits & Filings

Aon plc 8-K Report, Executive Changes (Dec 20, 2007)

Filed December 20, 2007For Securities:AON

Summary

This 8-K filing from Aon Corporation, dated December 20, 2007, primarily reports on an amendment to the employment agreement of Michael D. O’Halleran, a named executive officer. The amendment, effective December 15, 2007, outlines changes to Mr. O’Halleran's role and compensation structure. Key changes include a new title as Senior Executive Vice President and Executive Chairman of Aon Re Global, an increase in his base salary, and the future grant of performance share units. The settlement of these units is contingent upon the achievement of specific pre-tax net income and margin targets, indicating a performance-based incentive tied to the company's financial results.

Key Highlights

  • 1Amendment to employment agreement for Michael D. O’Halleran, a named executive officer, dated December 15, 2007.
  • 2Mr. O’Halleran's title changed to Senior Executive Vice President and Executive Chairman of Aon Re Global.
  • 3Increase in Mr. O’Halleran's base salary.
  • 4Future grant of performance share units to Mr. O’Halleran.
  • 5Performance share units settlement is subject to specified pre-tax net income and margin targets.
  • 6The filing is an 8-K Current Report, indicating a material event for the company.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose material changes to the employment agreement of Aon Corporation's Senior Executive Vice President and Executive Chairman of Aon Re Global, Michael D. O’Halleran.

The amendment includes a change in his title, an increase in his base salary, and the future granting of performance share units tied to specific financial performance targets.

The settlement of these performance share units is contingent upon the achievement of pre-defined targets for pre-tax net income and a specified margin.

This filing specifically details changes to an executive's compensation and role. While the performance metrics for his share units are tied to financial targets, this 8-K itself does not provide an update on the company's overall financial performance or outlook; it only documents an executive compensation adjustment.