GVHR » Topics » Departure of Certain Officers

This excerpt taken from the GVHR 8-K filed Nov 5, 2007.

Departure of Certain Officers

In connection with the resignation of Erik Vonk as Chief Executive Officer and Chairman of the Board of Gevity HR, Inc. (the “Company”) effective October 18, 2007 (the “Severance Date”), Mr. Vonk and the Company entered into a Separation Agreement and Full and Final Release of Claims, dated November 2, 2007 (the “Separation Agreement”). The Separation Agreement provides that the Company will pay Mr. Vonk a total of $1,500,000 through October 18, 2009, together with health and welfare benefits through that period of time. The Separation Agreement also provides an extension of Mr. Vonk’s 90 day option exercise period (i) to the period ending on the first anniversary of the Severance Date to exercise (a) the option granted to him on March 21, 2002 to purchase 100,000 shares of Company stock at a per share price of $3.02 and (b) the option granted to him on May 30, 2002 to purchase 900,000 shares of Company stock at a per share price of $3.90 and (ii) to the period ending on the second anniversary of the Severance Date to exercise (a) the option granted to him on December 15, 2003 (but only to the extent vested as of the Severance Date with respect to the right to purchase 68,181 of Company stock at a per share price of $21.85), (b) the option granted to him on February 15, 2005 (but only to the extent vested as of the Severance Date with respect to the right to purchase 57,937 shares of Company stock at a per share price of $21.14), and (c) the option granted to him on February 22, 2006 (but only to the extent vested as of the Severance Date with respect to the right to purchase 34,762 shares of Company stock at a per share price of $29.22).

The foregoing description of the Separation Agreement is qualified in its entirety by reference to the full text of the Separation Agreement, which the Company intends to file in its next periodic report.

This excerpt taken from the GVHR 8-K filed Jul 27, 2007.

Departure of Certain Officers

Peter Grabowski, Senior Vice President National Sales & Field Service Operations, resigned from Gevity HR, Inc. (the “Company”) effective July 23, 2007. In connection with his resignation, Mr. Grabowski and the Company entered into a Separation Agreement and Full and Final Release of Claims, dated July 24, 2007 (the “Agreement”). The Agreement provides that the Company will pay Mr. Grabowski severance totaling $240,000 payable in equal installments of $15,000 through March 13, 2008, together with health and welfare benefits on the same terms and conditions currently in place through that period of time. The Agreement also provides for a full and final release by Mr. Grabowski of any and all claims he may have against the Company. The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement, which is attached hereto as Exhibit 99.1 and incorporated herein by reference.

EXCERPTS ON THIS PAGE:

8-K
Nov 5, 2007
8-K
Jul 27, 2007
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki