NSP Insperity Inc

On June 30, 2022, Insperity, Inc. (the “Company” or “we”) entered into the Fourth Amendment to Amended and Restated Credit Agreement (the “Fourth Amendment”) with Zions Bancorporation, N.A. dba Amegy Bank, as administrative agent, and certain financial institutions, as lenders. The Fourth Amendment amends the Company’s existing Amended and Restated Credit Agreement, dated as of February 6, 2018 (as amended by the First Amendment to Amended and Restated Credit Agreement, dated as of September 13, 2019, the Second Amendment to Amended and Restated Credit Agreement, dated as of March 9, 2021, and the Third Amendment to Amended and Restated Credit Agreement, dated as of April 28, 2021), to, among other things, (i) increase the aggregate principal amount that the Company may borrow under the revolving credit facility thereunder (the “Facility”) from $500 million to $650 million, (ii) increase the aggregate principal amount to which the Facility may be increased, subject to certain terms and conditions, to $700 million, (iii) extend the maturity date of the Facility to June 30, 2027, (iv) increase the letter of credit subfacility in an aggregate principal amount up to $65 million from $45 million and (v) replace the ability of the Company to elect that borrowings accrue interest at the London Inter-Bank Offered Rate, plus the Applicable Margin, with the ability of the Company to elect that borrowings accrue interest at a forward-looking term rate based on the secured overnight financing rate (“Term SOFR”) plus (i) the Applicable Margin and (ii) a Term SOFR spread adjustment.

The foregoing summary is qualified in its entirety by reference to the Fourth Amendment, a copy of which is filed as Exhibit 10.1 to this Form 8-K and is incorporated in this Item 1.01 by reference.