Summary of GEVITY HR INC - Yahoo! Finance

Change in Directors or Principal Officers, Other Events, Financial Statements and E

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

In anticipation of the Merger (referenced in "Item 8.01 Other Events" below), on May 15, 2009, Gevity HR, Inc. (the "Company") provided a notice of termination of employment (deemed to be without cause) effective as of the expected June 1, 2009 Merger date to the following persons: Michael J. Lavington, Chairman and Chief Executive Officer; Garry J. Welsh, Senior Vice President and Chief Financial Officer; James E. Hardee, Senior Vice President and Chief Sales and Marketing Officer; Paul E. Benz, Senior Vice President and Chief Information Officer; and Edwin E. Hightower, Jr., Senior Vice President and Chief Legal Officer. These notices were delivered in accordance with the notice provisions required under the terms and conditions of the change in control severance agreements previously entered into between the Company and each of the persons listed above.

Item 8.01 Other Events.

On May 20, 2009, the Company issued a press release announcing that at a special meeting of the Company's shareholders held that day, the shareholders approved the Agreement and Plan of Merger, dated as of March 4, 2009 (the "Merger Agreement"), among the Company, TriNet Group, Inc. ("TriNet") and Gin Acquisition, Inc. ("Merger Sub") pursuant to which Merger Sub will be merged with and into the Company (the "Merger") with the Company surviving the Merger as a wholly owned subsidiary of TriNet. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

In addition, on May 20, 2009, TriNet, Merger Sub and the Company entered into a letter agreement (the "Letter Agreement") regarding the closing of the Merger. A copy of the Letter Agreement is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release, dated May 20, 2009.
99.2 Letter Agreement, dated May 20, 2009 between TriNet, Merger Sub and the Company.