Document:

EX-4.1

Exhibit 4.1

EXECUTED VERSION

THIRD AMENDMENT AND SUPPLEMENT TO

RIGHTS AGREEMENT

     This AMENDMENT, dated as of March 4, 2009 (this “Amendment”), is made to the Rights
Agreement dated as of April 23, 2002, as amended by the First Amendment and Supplement to Rights
Agreement, dated as of March 5, 2003, and the Second Amendment and Supplement to Rights Agreement,
dated as of June 6, 2003 (as amended, the “Rights Agreement”), by and between GEVITY HR,
INC. (f/k/a Staff Leasing, Inc. d/b/a Gevity HR) (the “Company”) and AMERICAN STOCK
TRANSFER & TRUST COMPANY, as Rights Agent (the “Rights Agent”).

     WHEREAS, the Company, TriNet Group, Inc., a Delaware corporation (“Parent”) and Gin
Acquisition, Inc., a Florida corporation and a wholly owned subsidiary of Parent, intend to enter
into an Agreement and Plan of Merger to be dated the date hereof (as the same may be amended from
time to time, the “Merger Agreement”);

     WHEREAS, as a condition to the willingness of Parent to enter into the Merger Agreement,
Parent and certain shareholders of the Company intend to enter into a Voting Agreement to be dated
the date hereof (as the same may be amended from time to time, the “Voting Agreement”);

     WHEREAS, the Company desires to amend the Rights Agreement to render such agreement
inapplicable to the Merger (as defined in the Merger Agreement), the other transactions
contemplated by the Merger Agreement, the Voting Agreement and the transactions contemplated by the
Voting Agreement;

     WHEREAS, the Board of Directors of the Company has approved the amendment of the Rights
Agreement and the execution and delivery of this Amendment; and

     WHEREAS, pursuant to Section 26 of the Rights Agreement, the Company may, and the Rights Agent
shall, if so directed by the Company, from time to time, supplement or amend the Rights Agreement.

     NOW, THEREFORE, in consideration of the foregoing, the Company and the Rights Agent hereby
agree as follows:

     Section 1. Amendment to Rights Agreement. The Rights Agreement is hereby amended as
follows:

          (a) the definition of “Acquiring Person” in Section 1(a) of the Rights Agreement is amended to
add the following sentence at the end thereof:

               “Notwithstanding anything in this Agreement to the contrary, none of Parent, or any
stockholder, Affiliate or Associate of Parent shall be deemed to be an Acquiring Person, either
individually or collectively, solely by virtue of (i) the announcement of the Merger, (ii) the
execution of the Merger Agreement, (iii) the consummation of the Merger or of

 

 

the other transactions contemplated by the Merger Agreement, (iv) the execution of the Voting
Agreement or (v) the consummation of the transactions contemplated by the Voting Agreement;”

          (b) the following definitions shall be added to Section 1 of the Rights Agreement and the
remaining sections shall be renumbered accordingly:

               (dd) “Parent” shall mean TriNet Group, Inc., a Delaware corporation.

               (ee) “Merger” shall have the meaning assigned to such term in the Merger Agreement.

               (ff) “Merger Agreement” shall mean the Agreement and Plan of Merger, dated as of March 4,
2009, by and among Parent, Gin Acquisition, Inc., and the Company.

               (gg) “Voting Agreement” shall mean the Voting Agreement, dated as of March 4, 2009, by and
among Parent and certain shareholders of the Company.

          (c) the definition of “Distribution Date” in Section 1(h) of the Rights Agreement is amended
to add the following sentence at the end thereof:

               “Notwithstanding anything in this Rights Agreement to the contrary, a Distribution Date shall
not be deemed to have occurred solely by virtue of (i) the announcement of the Merger, (ii) the
execution of the Merger Agreement, (iii) the consummation of the Merger or of the other
transactions contemplated by the Merger Agreement, (iv) the execution of the Voting Agreement or
(v) the consummation of the transactions contemplated by the Voting Agreement;”

          (d) The definition of “Share Acquisition Date” in Section 1(y) of the Rights Agreement is
amended by adding the following new sentence at the end thereof:

               “Notwithstanding anything in this Rights Agreement to the contrary, a Share Acquisition Date
shall not be deemed to have occurred solely by virtue of (i) the announcement of the Merger, (ii)
the execution of the Merger Agreement, (iii) the consummation of the Merger or of the other
transactions contemplated by the Merger Agreement, (iv) the execution of the Voting Agreement or
(v) the consummation of the transactions contemplated by the Voting Agreement;”

          (e) The definition of “Triggering Event” in Section 1(cc) of the Rights Agreement is amended
by adding the following new sentence at the end thereof:

               “Notwithstanding anything in this Rights Agreement to the contrary, a Triggering Event shall
not be deemed to have occurred solely by virtue of (i) the announcement of the Merger, (ii) the
execution of the Merger Agreement, (iii) the consummation of the Merger or of the other
transactions contemplated by the Merger Agreement, (iv) the execution of the Voting Agreement or
(v) the consummation of the transactions contemplated by the Voting Agreement;”

          (f) A new Section 23(d) of the Rights Agreement is added as follows:

 

 

                    “Notwithstanding anything in this Rights Agreement to the contrary, the Rights will expire in
their entirety immediately prior to the Effective Time (as defined in the Merger Agreement) without
any payment being made in respect thereof.”

[Signature Page Follows]

 

 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the day and year first above written.

	 	 	 	 	 
	 	GEVITY HR, INC.

 	 
	 	By:  	/s/   Edwin E. Hightower, Jr.
 	 
	 	 	Name:  	Edwin E. Hightower, Jr. 	 
	 	 	Title:  	Senior Vice President, Chief Legal
Officer 	 
	 
	 
	 	AMERICAN STOCK TRANSFER & TRUST
COMPANY,

 as Rights Agent

 	 
	 	By:  	/s/   Herbert J. Lemmer
 	 
	 	 	Name:  	Herbert J. Lemmer 	 
	 	 	Title:  	Vice PresidentEX-10.1

Exhibit 10.1

EXECUTED VERSION

     FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

     THIS FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT dated as of March 4, 2009 (the
“Agreement”) is entered into among Gevity HR, Inc., a Florida corporation (the
“Borrower”), the Guarantors, the Lenders and Bank of America, N.A., as Administrative
Agent. All capitalized terms used herein and not otherwise defined herein shall have the meanings
given to such terms in the Credit Agreement (as defined below).

RECITALS

     WHEREAS, the Borrower, the Guarantors, the Lenders and the Administrative Agent entered into
that certain Amended and Restated Credit Agreement dated as of August 30, 2006 (as amended and
modified from time to time, the “Credit Agreement”);

     WHEREAS, the Borrower has requested that the Lenders amend the Credit Agreement as set forth
below;

     NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

     1. Amendment. Clause (i) in the definition of “Change of Control” in
Section 1.01 of the Credit Agreement is hereby amended to read as follows:

	 	(i)	 	except as hereinafter provided, any “person” or “group” (within
the meaning of Sections 13(d) and 14(d)(2) of the Securities Exchange Act)
shall have acquired beneficial ownership, directly or indirectly, of more than
20% of the outstanding Voting Stock of the Borrower provided,
however, that for the avoidance of doubt, the execution of any
agreement between the Borrower and any person or group that provides for the
merger or consolidation of the Borrower with or into such person or group, or
the merger or consolidation of any such person or group with or into Borrower,
including any voting agreement entered into in connection therewith, shall not
constitute a “Change of Control” until the time that such merger or
consolidation is consummated, or

     2. Conditions Precedent. This Agreement shall be effective upon receipt by the
Administrative Agent of counterparts of this Agreement duly executed by each of the Borrower, the
Guarantors, the Lenders and Bank of America, N.A., as Administrative Agent.

     3. Miscellaneous.

     (a) The Credit Agreement and the obligations of the Loan Parties thereunder and under
the other Loan Documents, are hereby ratified and confirmed and shall remain in full force
and effect according to their terms.

     (b) Each Guarantor (a) acknowledges and consents to all of the terms and conditions of
this Agreement, (b) affirms all of its obligations under the Loan Documents and (c) agrees
that this Agreement and all documents executed in connection herewith do not operate to
reduce or discharge its obligations under the Credit Agreement or the other Loan Documents.

 

 

     (c) The Borrower and the Guarantors hereby represent and warrant as follows:

     (i) Each Loan Party has taken all necessary action to authorize the execution,
delivery and performance of this Agreement.

     (ii) This Agreement has been duly executed and delivered by the Loan Parties
and constitutes each of the Loan Parties’ legal, valid and binding obligations,
enforceable in accordance with its terms, except as such enforceability may be
subject to (A) bankruptcy, insolvency, reorganization, fraudulent conveyance or
transfer, moratorium or similar laws affecting creditors’ rights generally and (B)
general principles of equity (regardless of whether such enforceability is
considered in a proceeding at law or in equity).

     (iii) No consent, approval, authorization or order of, or filing, registration
or qualification with, any court or governmental authority or third party is
required in connection with the execution, delivery or performance by any Loan Party
of this Agreement.

     (d) The Loan Parties represent and warrant to the Lenders that (i) the representations
and warranties of the Loan Parties set forth in Article VI of the Credit Agreement
and in each other Loan Document are true and correct in all material respects as of the date
hereof after giving effect to this Agreement with the same effect as if made on and as of
the date hereof, except to the extent such representations and warranties expressly relate
solely to an earlier date and (ii) no event has occurred and is continuing which constitutes
a Default or an Event of Default.

     (e) This Agreement may be executed in any number of counterparts, each of which when so
executed and delivered shall be an original, but all of which shall constitute one and the
same instrument. Delivery of an executed counterpart of this Agreement by telecopy or pdf
shall be effective as an original.

     (f) The Loan Parties hereby release the Administrative Agent, the Lenders and each of
their respective officers, employees, representatives, agents, trustees, counsel and
directors (collectively, the “Released Persons”) from any and all actions, causes of
action, claims, demands, damages and liabilities of whatever kind or nature, in law or in
equity, now known or unknown, suspected or unsuspected to the extent that any of the
foregoing is in any way related to or connected with the transactions reflected in the
Loan Documents and arises on or prior to the date hereof.

     (g) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK.

[Signature pages follow]

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first above written.

	 	 	 	 	 	 	 
	BORROWER:	 	GEVITY HR, INC.,	 	 
	 	 	a Florida corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Edwin E. Hightower, Jr.
 

	 	 
	 	 	Name: Edwin E. Hightower, Jr.	 	 
	 	 	Title: Senior Vice President, Chief Legal Officer

	 	 	 
	GUARANTORS:

	 	GEVITY HR, L.P.,
	 

	 	a Delaware limited partnership
	 

	 	GEVITY HR II, L.P.,
	 

	 	a Delaware limited partnership
	 

	 	GEVITY HR III, L.P.,
	 

	 	a Delaware limited partnership
	 

	 	GEVITY HR IV, L.P.,
	 

	 	a Delaware limited partnership
	 

	 	GEVITY HR V, L.P.,
	 

	 	a Delaware limited partnership
	 

	 	GEVITY HR VI, L.P.,
	 

	 	a Delaware limited partnership
	 

	 	GEVITY HR VII, L.P.,
	 

	 	a Delaware limited partnership
	 

	 	GEVITY HR VIII, L.P.,
	 

	 	a Delaware limited partnership
	 

	 	GEVITY HR IX, L.P.,
	 

	 	a Delaware limited partnership
	 

	 	GEVITY HR X, L.P.,
	 

	 	a Delaware limited partnership

	 	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Staff Leasing, LLC its General Partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Edwin E. Hightower, Jr.
 

	 	 	 	 
	 

	 	 	 	Name:
	 	Edwin E. Hightower, Jr.	 	 	 	 
	 	 	 	 	Title:	 	Senior Vice President, Chief Legal Officer

	 	 	 	 	 	 	 
	 	 	GEVITY HR XI, LLC,	 	 
	 	 	a New Mexico limited liability company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Edwin E. Hightower, Jr.
 

	 	 
	 	 	Name: Edwin E. Hightower, Jr.	 	 
	 	 	Title: Senior Vice President, Chief Legal Officer

 

 

	 	 	 	 	 	 	 
	 	 	GEVITY HR XII Corp.,	 	 
	 	 	a Florida corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Edwin E. Hightower, Jr.
 

	 	 
	 	 	Name: Edwin E. Hightower, Jr.	 	 
	 	 	Title: Senior Vice President, Chief Legal Officer

	 	 	 	 	 	 	 
	 	 	GEVITY XIV, LLC,	 	 
	 	 	a Delaware limited liability company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Edwin E. Hightower, Jr.
 

	 	 
	 	 	Name: Edwin E. Hightower, Jr.	 	 
	 	 	Title: Senior Vice President, Chief Legal Officer

	 	 	 	 	 	 	 
	 	 	STAFF LEASING, LLC,	 	 
	 	 	a Delaware limited liability company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Edwin E. Hightower, Jr.
 

	 	 
	 	 	Name: Edwin E. Hightower, Jr.	 	 
	 	 	Title: Senior Vice President, Chief Legal Officer

	 	 	 	 	 	 	 
	 	 	GEVITY INSURANCE AGENCY, INC.,	 	 
	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Edwin E. Hightower, Jr.
 

	 	 
	 	 	Name: Edwin E. Hightower, Jr.	 	 
	 	 	Title: Secretary

 

 

	 	 	 	 	 	 	 
	ADMINISTRATIVE
	 	 	 	 	 	 
	AGENT:	 	BANK OF AMERICA, N.A.,	 	 
	 	 	as Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Anne M. Zeschke
 

	 	 
	 	 	Name: Anne M. Zeschke	 	 
	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 
	LENDER:	 	BANK OF AMERICA, N.A.,	 	 
	 	 	as a Lender and L/C Issuer	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Cameron S. Cardozo
 

	 	 
	 	 	Name: Cameron S. Cardozo	 	 
	 	 	Title: Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Valerie Clark
 

	 	 
	 	 	Name: Valerie Clark	 	 
	 	 	Title: Senior Vice President

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