Stir in butter, brown sugar and 1 teaspoon salt; top with thyme and bay leaf. Cover and cook on high heat for 8-10 hours, or until onions are caramelized and browned.*
Stir in beef stock and sherry; season with salt and pepper, to taste. Cover and cook on high heat for 2-3 hours, or until heated through. Remove and discard thyme and bay leaf.
Preheat oven to broil.
Place baguette slices onto a baking sheet. Place into oven and broil until golden brown on both sides, about 1-2 minutes per side; set aside.
Divide soup into ramekins or ovenproof bowls. Place onto a baking sheet. Top with baguette slices to cover the surface of the soup completely; sprinkle with cheeses.
Place into oven and broil until golden brown and cheeses have melted; about 2 minutes.