UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K/A

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported): February 23, 2010

 

ONEBEACON INSURANCE GROUP, LTD.

(Exact name of registrant as specified in its charter)

 

 

601 Carlson Parkway

Minnetonka, Minnesota  55305

(Address of Principal Executive Offices) (Zip Code)

 

(952) 852-2431

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

ITEM 5.02(e)

DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

 

On March 1, 2010, OneBeacon Insurance Group, Ltd. (the “Company”) filed a Current Report on Form 8-K (the “Original Filing”) to report, among other things, that the Compensation Committee of the Board of Directors of the Company approved payments to Andrew C. Carnase, the former Senior Vice President of Commercial Lines, in connection with the elimination of his position as a result of the sale by the Company of the renewal rights to its non-specialty Commercial Lines business on December 3, 2009. The Company is filing this Amendment No. 1 to its Original Filing for the sole purpose of providing information regarding final payment amounts in settlement of Mr. Carnase’s outstanding long-term performance shares and units and his retention award scheduled to vest in February 2011, which was not available at the time of the Original Filing.   This Amendment No. 1 does not change any of the other disclosures contained in the Original Filing.

 

In June 2010, Mr. Carnase will receive payments of $764,253 in settlement of 45,491 2008-2010 performance shares, $235,747 in settlement of his retention award, $156,297 in settlement of 8,815 2009-2011 performance shares, and $437,500 in settlement of 4,375 2009-2011 performance units, respectively.  A description of the change in control terms of the 2007 Long-Term Incentive Plan is included in the Company’s 2009 Proxy Statement.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

		ONEBEACON INSURANCE GROUP, LTD.
Date:	April 12, 2010
		By:	/s/ Jane E. Freedman
			Jane E. Freedman
			Secretary

 

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