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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.
OnDecember 31, 2021 ,TriNet Group, Inc. (the "Company") entered into a separation agreement (the "Separation Agreement") withEdward Griese , the Company's Senior Vice President, Insurance Services, who will be retiring effectiveDecember 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, theTriNet 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, entitleMr. Griese to the following: (i) a lump sum cash severance payment equal to 12 months of his current base salary, (ii) ifMr. 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 throughDecember 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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