8-KLeadership ChangesExhibits & Filings

Aon plc 8-K Report, Executive Changes (Dec 31, 2008)

Filed December 31, 2008For Securities:AON

Summary

This 8-K filing by Aon Corporation on December 30, 2008, primarily reports on an amendment to the employment agreement for Andrew M. Appel, a named executive officer. The amendment, effective retroactively from March 13, 2008, was made in conjunction with Mr. Appel assuming additional responsibilities as Chief Executive Officer of Aon Re Global. Investors should note that this change primarily impacts executive compensation and organizational structure within the company's reinsurance segment. The key changes detailed in the amendment involve an increase in Mr. Appel's base salary and the establishment of his annual bonus targets and maximum payable bonus for performance in 2008 and subsequent years. While the specific financial impact of these compensation adjustments is not detailed in this 8-K, it signals an investment in leadership for a key business unit during a period of potential market volatility.

Key Highlights

  • 1Amendment to Andrew M. Appel's employment agreement executed on December 29, 2008.
  • 2Amendment effective retroactively from March 13, 2008.
  • 3Mr. Appel assumed additional responsibilities as Chief Executive Officer of Aon Re Global.
  • 4Key changes include an increase in Mr. Appel's base salary.
  • 5New annual bonus targets and maximum bonus amounts established for Mr. Appel for 2008 and future years.
  • 6The filing includes Exhibit 10.1, the Amendment to the Employment Agreement.

Frequently Asked Questions

The main purpose of this 8-K filing is to report an amendment to the employment agreement of Andrew M. Appel, a key executive officer, related to his increased responsibilities as CEO of Aon Re Global.

The amendment increased Mr. Appel's base salary and established his annual bonus targets and maximum bonus amounts for performance in 2008 and subsequent years.

The amendment was made in connection with Mr. Appel assuming additional responsibilities as the Chief Executive Officer of Aon Re Global.

No, this filing focuses on the fact that the agreement was amended and outlines the types of changes (salary, bonus structure). It does not provide specific dollar amounts or a detailed financial analysis of the impact of these compensation adjustments.