<SEC-DOCUMENT>0001193125-24-189994.txt : 20240731
<SEC-HEADER>0001193125-24-189994.hdr.sgml : 20240731
<ACCEPTANCE-DATETIME>20240731165556
ACCESSION NUMBER:		0001193125-24-189994
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240731
DATE AS OF CHANGE:		20240731

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CBIZ, Inc.
		CENTRAL INDEX KEY:			0000944148
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				222769024
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32961
		FILM NUMBER:		241162755

	BUSINESS ADDRESS:	
		STREET 1:		5959 ROCKSIDE WOODS BLVD N.
		STREET 2:		SUITE 600
		CITY:			INDEPENDENCE
		STATE:			OH
		ZIP:			44131
		BUSINESS PHONE:		2164479000

	MAIL ADDRESS:	
		STREET 1:		5959 ROCKSIDE WOODS BLVD N.
		STREET 2:		SUITE 600
		CITY:			INDEPENDENCE
		STATE:			OH
		ZIP:			44131

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTURY BUSINESS SERVICES INC
		DATE OF NAME CHANGE:	19980218

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL ALLIANCE SERVICES INC
		DATE OF NAME CHANGE:	19961031
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
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<TITLE>DEFA14A</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>the Securities Exchange Act of 1934 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the
Registrant&#8194;&#9746; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a Party other than the Registrant&#8194;&#9744; </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Preliminary Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Confidential, for Use of the Commission Only (as permitted by Rule
<FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT> </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Additional Materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting Material under <FONT STYLE="white-space:nowrap">&#167;240.14a-12</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>CBIZ, INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of
Registrant as Specified In Its Charter) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not applicable. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check the appropriate box): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">No fee required. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee paid previously with preliminary materials. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules
<FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT STYLE="white-space:nowrap">0-11</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the transactions contemplated by the previously announced Agreement and Plan of Merger
(the &#147;Merger Agreement&#148;), dated July&nbsp;30, 2024, among CBIZ, Inc., a Delaware corporation (the &#147;Company&#148; or &#147;CBIZ&#148;), Marcum LLP, a New York registered limited liability partnership (&#147;Marcum&#148;), Marcum
Advisory Group LLC, a Delaware limited liability company and wholly owned subsidiary of Marcum (&#147;MAG&#148;), PMMS LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company (&#147;Merger Sub&#148;), and Marcum
Partners SPV LLC, a Delaware limited liability company, the Company made available the following information to employees on July&nbsp;31, 2024: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Email
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Subject Line: Exciting News: CBIZ to Acquire Marcum! </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CBIZ Team Members, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I am thrilled to share some exciting news
with you. Earlier today, we publicly announced that CBIZ has signed a definitive agreement to acquire Marcum, with Mayer Hoffman McCann (MHM) to acquire the attest business of the same name. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Founded in 1951 and headquartered in New York City, Marcum is a national accounting and advisory firm that provides a range of professional services to
entrepreneurial, middle-market companies, midcap and <FONT STYLE="white-space:nowrap">micro-cap</FONT> SEC registrants, and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">high-net-worth</FONT></FONT> individuals. With over 70
years of experience and 4,000 professionals, Marcum is known for its personalized service and strong client relationships. Marcum is ranked as the 13<SUP STYLE="font-size:75%; vertical-align:top">th</SUP> largest accounting firm in the country. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This strategic acquisition, the largest in our company&#146;s history, presents an incredible opportunity for CBIZ and Marcum to bring together the best
talent in the industry to offer our clients an unmatched breadth of services and depth of expertise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Momentarily, you will be receiving an invitation for
an All Team Member Town Hall at 12:30 p.m. ET, where Chris Spurio, Mike Kouzelos, Elizabeth Newman and I will share more about Marcum and what this opportunity means for CBIZ and for each of you. If you are not able to attend today&#146;s call, the
recording will be shared following the meeting, along with a set of team member FAQs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the interim, while I am sharing our news with investors, I
invite you to watch this video [link included here] and read the <U>press release</U> about this exciting news. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This is an exciting time for our company,
and we anticipate you will see a considerable amount of media coverage and social chatter about it. We encourage you to share the news on social media by resharing the posts from our CBIZ accounts: <U>LinkedIn, X</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you happen to be contacted by the media or other external audiences about our announcement, please contact <U>Amy McGahan</U>, our Director of Corporate
Communications. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I look forward to speaking with you all shortly! </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jerry </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the transaction, the Company will file a proxy statement with the SEC. The definitive proxy statement will be mailed to the Company&#146;s
stockholders and will contain important information about the transaction and related matters. THE COMPANY&#146;S STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT CAREFULLY WHEN IT BECOMES AVAILABLE BEFORE MAKING ANY VOTING OR
INVESTMENT DECISION WITH RESPECT TO THE TRANSACTION BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION. The definitive proxy statement and other relevant materials (when they become available) and any other documents filed by the
Company with the SEC may be obtained free of charge at the SEC&#146;s website at <U>www.sec.gov</U>. In addition, stockholders will be able to obtain free copies of the definitive proxy statement from the Company on the Investor Relations page of
the Company&#146;s website, <U>www.cbiz.com</U>, or by writing to us at Attention: Investor Relations Department, 5959 Rockside Woods Blvd. N., Suite 600, Independence, Ohio 44131. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PARTICIPANTS IN THE SOLICITATION </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company and its
directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the transaction. Information with respect to the Company&#146;s directors and executive officers is set forth in the Company&#146;s
Proxy Statement on Schedule 14A for its 2024 Annual Meeting of Stockholders, which was filed with the SEC on March&nbsp;25, 2024, and its Annual Report on <FONT STYLE="white-space:nowrap">Form&nbsp;10-K</FONT> for the fiscal year ended
December&nbsp;31, 2023, which was filed with the SEC on February&nbsp;23, 2024. These documents are available free of charge at the SEC&#146;s website at <U>www.sec.gov</U>, or from the Company on the Investor Relations page of the Company&#146;s
website, <U>www.cbiz.com</U>, or by writing to us at Attention: Investor Relations Department, 5959 Rockside Woods Blvd. N., Suite 600, Independence, Ohio 44131. Additional information regarding the interests of participants in the solicitation of
proxies in connection with the transaction will be included in the proxy statement that the Company intends to file with the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following is a
transcript of the video linked in the above email message to employees: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>JERRY GRISKO ON CAMERA:</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B></B><I>Good morning everyone. I wanted to be the first to notify you of a very exciting announcement for CBIZ. Earlier this morning, we announced that we
entered into an agreement to make the largest acquisition in our history by bringing Marcum onto our team. </I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>With this acquisition, we will become
the seventh-largest accounting services provider in the nation and, together with our benefits and insurance, advisory, and other businesses, we&#146;ll be the largest professional services provider of our kind. At closing, we&#146;ll have revenues
of close to $3&nbsp;billion, more than 10,000 team members and over 135,000 clients. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>When we talk about acquisitions, we have always rallied
around the idea of &#145;stronger together&#146;, which is what this acquisition is all about. Combining our organizations will solidify our position as a leading provider of accounting, tax, advisory, insurance, and other professional services to
middle-market clients and as the employer of choice for the best talent in our industries. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>As we look to the future, the potential of this
acquisition is perhaps best symbolized by our logo &#150; the power of many coming together as one to accelerate growth. Growth for our team members, for our clients and for our business. </I></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>The fundamental things that have made us successful will never change. Like our commitment to our core
values&#133;to developing and supporting our people&#133;and to delivering exceptional advice and solutions to our clients.&#8195; </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Any changes to
come will be ones of <U>opportunity.</U> Opportunities for you and our company to grow in capabilities and develop innovative solutions for our clients. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>With that in mind, we&#146;ve put together this brief video to give you a preview of what to expect in this new chapter of our story. </I></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>VOICE TALENT NARRATION: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Thirty years ago, CBIZ set
its sights on a powerful vision&#133; To become the leading provider of professional services to middle-market businesses. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>To deliver on our
vision in this moment of industry transformation, we need not just skill, but scale &#150; and the boldness to think big. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>And, that is precisely
what this milestone will enable us to do. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>When two of the most successful organizations serving the middle market come together as one, the result
will be one company with unmatched depth of expertise and breadth of services. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>One company ready to seize this breakaway moment. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>One company unafraid to think bigger and bolder. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>One
company that will redefine the future of professional services for our clients. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>This is not about one + one&#133; This is about something
exponential. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Exponentially more opportunities to grow...to innovate&#133;to attract and keep the best talent </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>&#133;to take the exceptional services we provide today to a whole new level tomorrow. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Just imagine the opportunities to combine human and artificial intelligence with actionable insights from the unmatched data our two groups possess&#133;
</I></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>&#133;Imagine how we will be the frontrunner in the new age of professional services. A place where our
team and our clients will grow. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>This is an incomparable opportunity for our team to propel our growth, as a group and as individuals. Just imagine
what heights we will reach when we come together as one. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>JERRY GRISKO OUTRO (ON CAMERA): </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>We hope this gives you a glimpse into why we are so very excited about this news and our future together. And we&#146;re looking forward to sharing more
with each of you at our Town Hall later today. See you then! </I></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the transaction, the Company will file a proxy statement with the SEC. The definitive proxy statement will be mailed to the Company&#146;s
stockholders and will contain important information about the transaction and related matters. THE COMPANY&#146;S STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT CAREFULLY WHEN IT BECOMES AVAILABLE BEFORE MAKING ANY VOTING OR
INVESTMENT DECISION WITH RESPECT TO THE TRANSACTION BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION. The definitive proxy statement and other relevant materials (when they become available) and any other documents filed by the
Company with the SEC may be obtained free of charge at the SEC&#146;s website at <U>www.sec.gov</U>. In addition, stockholders will be able to obtain free copies of the definitive proxy statement from the Company on the Investor Relations page of
the Company&#146;s website, <U>www.cbiz.com</U>, or by writing to us at Attention: Investor Relations Department, 5959 Rockside Woods Blvd. N., Suite 600, Independence, Ohio 44131. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PARTICIPANTS IN THE SOLICITATION </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company and its
directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the transaction. Information with respect to the Company&#146;s directors and executive officers is set forth in the Company&#146;s
Proxy Statement on Schedule 14A for its 2024 Annual Meeting of Stockholders, which was filed with the SEC on March&nbsp;25, 2024, and its Annual Report on <FONT STYLE="white-space:nowrap">Form&nbsp;10-K</FONT> for the fiscal year ended
December&nbsp;31, 2023, which was filed with the SEC on February&nbsp;23, 2024. These documents are available free of charge at the SEC&#146;s website at <U>www.sec.gov</U>, or from the Company on the Investor Relations page of the Company&#146;s
website, <U>www.cbiz.com</U>, or by writing to us at Attention: Investor Relations Department, 5959 Rockside Woods Blvd. N., Suite 600, Independence, Ohio 44131. Additional information regarding the interests of participants in the solicitation of
proxies in connection with the transaction will be included in the proxy statement that the Company intends to file with the SEC. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward Looking
Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This communication includes &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical facts, included herein that address business performance, financial condition, activities, events or developments that the Company expects, believes or anticipates will or may occur in the
future are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.
Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, including but not limited to: the ability of the parties to consummate the transaction in a timely manner or at
all; satisfaction of the conditions precedent to </P>
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consummation of the transaction, including the ability to secure regulatory approvals in a timely manner or at all, and the approval by Marcum&#146;s partners and the approval by the
Company&#146;s stockholders; the possibility of litigation related to the transaction and the effects thereof; the possibility that anticipated benefits and/or synergies of the transaction will not be achieved in a timely manner or at all; the
possibility that the costs of the transaction and/or liabilities assumed will be more significant than anticipated; the possibility that integration will prove more costly and/or time consuming than anticipated; the possibility that the transaction
could disrupt ongoing plans and operations of the parties or their respective relationships with clients, other business partners and employees; the possibility that the financing will not be obtained as anticipated and the effects of the increased
leverage of the Company following the transaction; and other risks described in the Company&#146;s SEC filings. All forward-looking statements are based on management&#146;s estimates, projections and assumptions as of the date hereof. Except as
required by law, the Company does not undertake any obligation to update any forward-looking statements to reflect events or circumstances that subsequently occur or of which it subsequently becomes aware. </P>
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