In a large pan, over medium heat, melt butter and sauté down onions for 10-15 minutes until onion are soften.
Add remaining ingredients, reduce heat to low, and continue to stir frequently for another 30-45 minutes until onions are caramelized.
Discard bay leaves, adjust salt and pepper to taste. Allow to cool and then transfer to an airtight container.
Refrigerate for up to a month. Use jam to do just about whatever your taste buds desire!