Company: ADP
Filing Date: 2025-06-27
Form Type: 8-K
Source: 0000950142-25-001700
Chunk: 0

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-06-27
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On June 27, 2025, Automatic Data Processing,
Inc., a Delaware corporation (the “ Company”), entered into a $4.55 billion 364-Day Credit Agreement (the “364-Day Facility”)
and a $2.5 billion Five-Year Credit Agreement (the “ Five-Year Facility,” and together with the 364-Day Facility, the “ New
Facilities”) with a group of lenders (the “ Lenders”).

The Five-Year Facility contains an accordion
feature under which the aggregate commitment can be increased by $500 million to an aggregate principal amount of $3 billion, subject
to the availability of additional commitments. The 364-Day Facility replaced the Company’s prior $4.55 billion 364-day facility,
entered into on June 28, 2024, and the Five-Year Facility replaced the Company’s prior $2.25 billion five-year facility, entered
into on June 30, 2023, both of which were terminated on June 27, 2025. JPMorgan Chase Bank, N. A. acts as Administrative Agent, and Bank
of America, N. A., BNP Paribas, Wells Fargo Bank, N. A. and Deutsche Bank Securities Inc., as Syndication Agents, for each of the New Facilities.

The New Facilities will have a revolving credit
option, which will be provided on a committed basis. Amounts borrowed and repaid may be reborrowed subject to availability under each
New Facility.

The Lenders’ commitments under the 364-Day
Facility will expire on June 26, 2026 and any borrowings outstanding will mature and be payable on such date (or, at the option of the
Company, subject to the accuracy of all representations and warranties and the absence of any default, on June 26, 2027). The Lenders’
commitments under the Five-Year Facility will expire and the borrowings thereunder will mature on June 27, 2030. The Company may, from
time to time and by written notice to the Administrative Agent given not fewer than 30 days and not more than 120 days prior to any anniversary
of June 27, 2025, request that the Lenders extend the commitments under the Five-Year Facility for an additional period of one year.

At the Company’s option, under each New
Facility, revolving loans denominated in U. S. Dollars will