Amendment and Termination of Aon Outside Director Deferred Compensation Plan (Effective May 18, 2012)

Summary

Aon plc, through its authorized officers, has amended the Aon Outside Director Deferred Compensation Plan to formally terminate the plan as of May 18, 2012. All benefits accrued under the plan will be distributed to participants in accordance with applicable tax regulations within a specified 12-month period starting May 19, 2013, or earlier if otherwise provided. This amendment reflects the company's assumption of the plan and the board's decision to end it.

EX-10.17 4 a12-13662_1ex10d17.htm EX-10.17

Exhibit 10.17

 

AMENDMENT TO THE
AON OUTSIDE DIRECTOR DEFERRED COMPENSATION PLAN,
EFFECTIVE JANUARY 1, 2008

 

This Amendment to the Aon Outside Director Deferred Compensation Plan, effective January 1, 2008 (the “Plan”), is adopted by Aon plc, a public limited company incorporated under English law (the “Company”), to be effective as set forth below.

 

RECITALS

 

WHEREAS, pursuant to a Deed of Assumption dated April 2, 2012 the Company assumed sponsorship of the Plan and the rights and obligations of Aon Corporation under the Plan; and

 

WHEREAS, the Board of Directors of the Company took action on May 18, 2012 to terminate the Plan effective as of such date and authorized Christa Davies, the Executive Vice President and Chief Financial Officer of Aon Corporation, and Gregory J. Besio, the Executive Vice President and Chief Human Resources Officer of Aon Corporation, to execute any necessary documentation to reflect such action;

 

NOW, THEREFORE, the Plan is hereby amended to reflect its termination effective as of May 18, 2012, as follows:

 

A new Section 13 is added to the Plan providing as follows:

 

13.          Termination and Liquidation of Plan:

 

The Plan is terminated effective May 18, 2012.  All accrued benefits under the Plan shall be distributed in accordance with Treasury Regulation 1.409A-3(j)(4)(ix) on such date(s) during the 12-month period beginning May 19, 2013 and ending May 18, 2014 as may be determined by the Company, or on such earlier dates as otherwise provided in the Plan.

 

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed on its behalf by the duly authorized officers of Aon Corporation, this 19th day of July, 2012.

 

Aon plc

 

 

 

 

 

By:

/s/ Christa Davies

 

 

Christa Davies

 

 

 

 

 

By:

/s/ Gregory J. Besio

 

 

Gregory J. Besio