Company: PAYX
Filing Date: 2025-04-08
Form Type: 424B2
Source: 0001193125-25-075170
Chunk: 76

Company: PAYCHEX INC
Filing Date: 2025-04-08
Form: 424B2
Chunk 76
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 of an Event of Default regarding payment of principal, any premium or interest, the holders of a majority in aggregate principal amount of each affected series of debt securities then outstanding voting as a separate class, will have the right to direct the time, method and place of conducting any proceeding for exercising any remedy available to the trustee with respect to such series of debt securities, providedthat the direction would not conflict with any rule of law or with the indenture, would not be unduly prejudicial to the rights of another holder of the debt securities, and would not involve any trustee in personal liability. The indenture provides that in case an Event of Default shall occur and the trustee has received written notice thereof and such Event of Default has not be cured, the trustee must use the same degree of care as a prudent person would use under the circumstances in the conduct of their own affairs in the exercise of the trustee’s power. Subject to these provisions, the trustee will be under no obligation to exercise any of its rights or powers under the indenture at the request of any of the holders of the debt securities, unless they shall have offered to the trustee security and/or indemnity satisfactory to the trustee. 14

No Individual Liability of Incorporators, Stockholders, Officers or Directors

The indenture provides that no incorporator and no past, present or future stockholder, officer or director of us or any successor corporation
in their capacity as such shall have any individual liability for any of our obligations, covenants or agreements under the debt securities or the indenture.

Governing Law

The indenture and the debt
securities will be governed by, and construed in accordance with, the laws of the State of New York.

15

PLAN OF DISTRIBUTION We may sell the securities in one or more of the following ways (or in any combination) from time to time:

| • |     | to or through underwriters, brokers or dealers; |

| • |     | directly to a limited number of purchasers or to a single purchaser; |

| • |     | through agents; |

| • |     | through a combination of any such methods; or |

| • |     | through any other methods described in a prospectus supplement. |

The applicable prospectus supplement will state the terms of the offering of the securities, including:

| • |     | the name or names of any underwriters or agents; |

| • |     | the purchase price of such securities and the proceeds to be received by us, if any; |