UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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| Date of Report (Date of Earliest Event Reported): | | March 11, 2005 |
United America Indemnity, Ltd.
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(Exact name of registrant as specified in its charter)
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| Cayman Islands | 000-50511 | 98-0417107 |
_____________________
(State or other jurisdiction | _____________
(Commission | ______________
(I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
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| Walker House, 87 Mary Street, P.O. Box 908GT, Cayman Islands, Cayman Islands | | None |
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(Address of principal executive offices) | | ___________
(Zip Code) |
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| Registrant’s telephone number, including area code: | | (345) 949-0100 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On March 11, 2005, United America Indemnity, Ltd. (the "Company") entered into a Chief Executive Officer Agreement, effective February 7, 2005, with Edward J. Noonan. The agreement provides that Mr. Noonan will receive an annual base salary of $450,000 and shall be eligible to receive a bonus to be determined by the Board in its discretion. Upon termination of the agreement, the non-compete, non-solicitation and no-hire provisions extend for a period of six months thereafter. In addition, the agreement also includes confidentiality restrictions.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits
Exhibit Description
10.1 Agreement dated March 11, 2005 between the Company and Edward J. Noonan.
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.
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| | | United America Indemnity, Ltd. |
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| March 17, 2005 | | By: | | /s/ Richard S. March
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| | | | | Name: Richard S. March |
| | | | | Title: General Counsel |
Exhibit Index
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| Exhibit No. | | Description |
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|
10.1 | | Agreement dated March 11, 2005 between the Company and Edward J. Noonan |
