Company: PAYC
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001193125-25-072358
Chunk: 65

Company: Paycom Software, Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 65
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 such plans or arrangements. Each NEO is entitled to vacation time and reimbursement of business expenses. Each NEO is subject to confidentiality, noninterference and intellectual property protection obligations, either pursuant to an employment agreement or other written agreement. For a description of our Clawback Policy, see “Compensation Discussion and Analysis—Other Compensation Components and Considerations—Clawback Policy.”

In April 2024, Ms. Faurot transitioned to a non-employee consulting role. In connection with this transition, Ms. Faurot entered into an Independent Consultant and Services Agreement (the “Faurot Consulting Agreement”) with the Company’s wholly owned subsidiary, Paycom Payroll, LLC (“Paycom Payroll”), and a Release and Award Cancellation and Acceleration Agreement (the “Release Agreement”) with the Company, each dated April 4, 2024. Pursuant to the Faurot Consulting Agreement, Ms. Faurot provides Paycom Payroll with her client success expertise and knowledge, and general business consulting. The term of the Faurot Consulting Agreement commenced on April 4, 2024 and continues for a term of 12 months (the “Consulting Term”), during which time Ms. Faurot is paid $42,557 per month. The Faurot Consulting Agreement includes customary confidentiality provisions and includes non-solicitation provisions applicable during the Consulting Term and for 24 months following termination for any reason. Pursuant to the Faurot Consulting Agreement, Ms. Faurot agreed that, during the Consulting Term, she will notify Paycom Payroll at least 10 days prior to providing services to, or on behalf of, any Related Business (as defined in the Faurot Consulting Agreement). The Faurot Consulting Agreement is terminable by Paycom Payroll (i) immediately upon written notice to Ms. Faurot if Ms. Faurot materially breaches the Faurot Consulting Agreement (including failure to provide notice as described in the preceding sentence) and (ii) immediately upon written notice to Ms. Faurot if she notifies Paycom Payroll of her intent to provide services to or on behalf of any Related Business. In the event of termination of the Faurot Consulting Agreement by Paycom Payroll as described in the preceding sentence, Paycom Payroll will be entitled to reimbursement of the consulting fees paid to Ms. Faurot. Pursuant to the Release Agreement, Ms. Faurot agreed to (i) the cancellation of certain unvested equity incentive