TRINET GROUP, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers - Insurance News | InsuranceNewsNet

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January 3, 2022 Newswires
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TRINET GROUP, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers

Edgar Glimpses

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


On December 31, 2021, TriNet Group, Inc. (the "Company") entered into a
separation agreement (the "Separation Agreement") with Edward Griese, the
Company's Senior Vice President, Insurance Services, who will be retiring
effective December 31, 2021 (the "Retirement Date") to pursue other professional
and personal interests. Under the Separation Agreement, Mr. Griese will be
entitled to participate in, and his retirement will constitute a qualifying
termination under, the TriNet Group, Inc. Amended and Restated Executive
Severance Benefit Plan (the "Plan"). The Separation Agreement provides for a
customary release of claims, which upon becoming effective would, under the
Plan, entitle Mr. Griese to the following: (i) a lump sum cash severance payment
equal to 12 months of his current base salary, (ii) if Mr. Griese elects to
continue his participation in the Company's group health insurance plan under
applicable COBRA regulations, the Company will pay the applicable COBRA premiums
for a period of up to 12 months; and (iii) accelerated vesting of all unvested
equity awards that would have otherwise vested based solely on continued service
through December 31, 2022. Also under the Separation Agreement, Mr. Griese's
consulting firm, ER Griese Consulting, LLC, will provide services to the Company
for the first three months (with possibility of renewal for an additional three
months) of 2022, for a monthly fee of $83,000, to support the transition of his
duties and certain priorities concerning the Company's health and welfare
strategy.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
    Exhibit
     Number                                       Description
      104        Cover Page Interactive Data File (embedded with the Inline XBRL document)


--------------------------------------------------------------------------------

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