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<p align="center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p align=center><b>Washington, D.C.&nbsp; 20549</b></p>

<p align=center><b>__________________</b></p>

<p align=center><b>&nbsp;</b></p>

<p align=center><b>FORM 8-K</b></p>

<p align=center><b>CURRENT REPORT</b></p>

<p align=center><b>PURSUANT TO SECTION 13 OR 15(d)<br>
OF THE SECURITIES EXCHANGE ACT OF 1934</b></p>

<p align=center><b>&nbsp;Date of Report (Date of earliest event reported) April 4, 2003</b></p>

<p align=center><b>&nbsp;</b></p>

<p align=center><b><u>NORD PACIFIC LIMITED<br>
</u>(Exact name of registrant as specified in its charter)</b></p>

<p align=center><b>&nbsp;</b></p>

<p align=center><b>&nbsp;</b></p>

<div align="left">

<table border=0 cellspacing=0 cellpadding=0 width="740" style="border-collapse: collapse" bordercolor="#111111">
 <tr>
  <td width=213 valign=top align="center">
  <b><u>New Brunswick, Canada</u></b></td>
  <td width=213 valign=top>
  <p align=center><b><u>000-19182</u></b></p>
  </td>
  <td width=48 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=213 valign=top align="center">
  <p><b><u>Not Applicable</u></b></p>
  </td>
 </tr>
 <tr>
  <td width=213 valign=top align="center">
  <p>(State or Other<br>
  Jurisdiction of<br>
  Incorporation)</p>
  </td>
  <td width=213 valign=top>
  <p align=center>(Commission<br>
  File Number)</p>
  </td>
  <td width=48 valign=top>
  <p><b>&nbsp;</b></p>
  </td>
  <td width=213 valign=top align="center">
  <p>(IRS Employer<br>
  Identification Number</p>
  </td>
 </tr>
</table>

</div>

<p align=center><b>&nbsp;</b></p>

<div align="left">

<table border=0 cellspacing=0 cellpadding=0 width="740" style="border-collapse: collapse" bordercolor="#111111">
 <tr>
  <td width=392 valign=top align="center">
  <p><b>40 Wellington Row, Suite 2100, Scotia Plaza</b></p>
  </td>
  <td width=185 valign=top align="center">
  <p><b>&nbsp;</b></p>
  </td>
 </tr>
 <tr>
  <td width=392 valign=top align="center">
  Saint John, New Brunswick, Canada<br>
  (Address of Principal Executive Offices)</td>
  <td width=185 valign=top align="center">
  <p><u>&nbsp; E2L 4S3&nbsp;&nbsp; <br>
  </u>(Zip Code)</p>
  </td>
 </tr>
</table>

</div>

<p><b>&nbsp;</b></p>

<p align="center"><b>&nbsp;Registrant's telephone number, including area code: (506) 633-3800</b></p>

<b><br clear=all>
</b>

<hr color="#000080"><P Style="page-break-after:always" ></p>

<p>&nbsp;</p>

<p><b>Item 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other
Events</b></p>



<p align="justify">Agreement was entered into on March 31, 2003 between
Nord Pacific Limited and Mark R. Welch, President and Chief Executive Officer
of Nord Pacific Limited pursuant to which 4,000,000 shares of common stock
valued at $0.13 per share (rounded) were issued in trust for the benefit of Mr.
Welch (and his wife) in consideration of his agreement to cancel his Retirement
Benefits Agreement entered into on November 20, 2001. The Retirement Benefits
Agreement (RBA) is currently subject to a derivative shareholder action brought
on December 31, 2002 against Mr. John B. Roberts, Ms. Lucile Lansing and Mr.
Welch, directors of the Corporation, by Nord Resources Corporation and Ronald
A. Hirsch.&nbsp; The agreement with Mr. Welch
is attached to this Form 8-K and as set forth therein, the agreement provides
that Mr. Welch has reserved all rights under an earlier 1997 retirement
arrangement in the event that the current litigation concerning the 2001
Retirement Benefits Agreement is resolved adversely to Mr. Welch and the
Corporation.</p>



<p align="justify">A copy of the agreement which contains additional
details concerning the transaction is attached as Exhibit A.</p>







<p align="center"><b>SIGNATURES</b></p>



<p align="justify">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.</p>







<div align="left">
  <table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="740" id="AutoNumber1">
    <tr>
      <td width="326">Dated:&nbsp;&nbsp;&nbsp;April
4, 2003</td>
      <td width="435">By:&nbsp;&nbsp; <u>&nbsp;&nbsp;&nbsp; /s/
Mark R. Welch&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u>
      </td>
    </tr>
    <tr>
      <td width="326">&nbsp;</td>
      <td width="435">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark R. Welch</td>
    </tr>
    <tr>
      <td width="326">&nbsp;</td>
      <td width="435">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President
&amp;
CEO</td>
    </tr>
  </table>
</div>

<p><b>&nbsp;</b></p>

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{"company-data": {"conformed-name": "NORD PACIFIC LIMITED", "cik": "0000843296", "assigned-sic": "1000", "irs-number": "000000000", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-19182", "film-number": "03639888"}, "business-address": {"street1": "40 WELLINGTON ROW", "street2": "SUITE 2100 SCOTIA PLAZA", "city": "ST JOHN N B CANADA", "state": "A3", "phone": "8092922363"}}
Prepared by E-Services - www.edgar2.net
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
Date of Report (Date of earliest event reported) April 4, 2003
NORD PACIFIC LIMITED
(Exact name of registrant as specified in its charter)
New Brunswick, Canada
000-19182
Not Applicable
(State or Other
Jurisdiction of
Incorporation)
(Commission
File Number)
(IRS Employer
Identification Number
40 Wellington Row, Suite 2100, Scotia Plaza
Saint John, New Brunswick, Canada
(Address of Principal Executive Offices)
E2L 4S3
(Zip Code)
Registrant's telephone number, including area code: (506) 633-3800
Item 5.            Other
Events
Agreement was entered into on March 31, 2003 between
Nord Pacific Limited and Mark R. Welch, President and Chief Executive Officer
of Nord Pacific Limited pursuant to which 4,000,000 shares of common stock
valued at $0.13 per share (rounded) were issued in trust for the benefit of Mr.
Welch (and his wife) in consideration of his agreement to cancel his Retirement
Benefits Agreement entered into on November 20, 2001. The Retirement Benefits
Agreement (RBA) is currently subject to a derivative shareholder action brought
on December 31, 2002 against Mr. John B. Roberts, Ms. Lucile Lansing and Mr.
Welch, directors of the Corporation, by Nord Resources Corporation and Ronald
A. Hirsch.  The agreement with Mr. Welch
is attached to this Form 8-K and as set forth therein, the agreement provides
that Mr. Welch has reserved all rights under an earlier 1997 retirement
arrangement in the event that the current litigation concerning the 2001
Retirement Benefits Agreement is resolved adversely to Mr. Welch and the
Corporation.
A copy of the agreement which contains additional
details concerning the transaction is attached as Exhibit A.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Dated:   April
4, 2003
By:
/s/
Mark R. Welch
Mark R. Welch
President
&
CEO