No shit, that gif made my day.
As far as I remember, their contract expired back in 2007(source will be below), but were then re-contracted to make two more games for Microsoft, Halo 3: ODST and Halo Reach. Bungie handed Halo, entirely, over to 343 in March of 2012. In total, I think that five (maybe a few more) Bungie employees left Bungie to join 343 so that they could continue to work on Halo. The most predominate two from recollection were Frank O'connor and Chad Armstrong. Since then, Joseph Staten, essentially the father of Halo, left Bungie to go work for Microsoft. As far as I know, there is no more history to share.
Source: http://www.microsoft.com/en-us/news/press/2007/oct07/10-05bungieevolvespr.aspx
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