Company: DLX
Filing Date: 2025-02-21
Form Type: S-8
Source: 0001104659-25-016024
Chunk: 3

Company: DELUXE CORP
Filing Date: 2025-02-21
Form: S-8
Chunk 3
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 another organization or employee benefit plan, reasonably believed that the conduct was not opposed
to the best interests of the corporation. If the person's acts or omissions complained of in the proceeding relate to conduct as a director,
officer, trustee, employee, or agent of an employee benefit plan, the conduct is not considered to be opposed to the best interests of
the corporation if the person reasonably believed that the conduct was in the best interests of the participants or beneficiaries of the
employee benefit plan.

Article XII of Deluxe’s Amended and Restated Articles of
Incorporation provides that no director of Deluxe shall be personally liable to Deluxe or its shareholders for monetary damages for breach
of fiduciary duty by such director as a director. Article XII does not, however, limit or eliminate the liability of a director to
the extent provided by applicable law for (i) any breach of the director’s duty of loyalty to Deluxe or its shareholders, (ii) acts
or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) authorizing a dividend,
stock repurchase or redemption or other distribution in violation of Minnesota law or for violation of certain provisions of Minnesota
securities laws or (iv) any transaction from which the director derived an improper personal benefit.

Article V of the Bylaws of Deluxe provide that Deluxe shall indemnify
all officers and directors of Deluxe for such expenses and liabilities, in such manner, under such circumstances and to the fullest extent
as permitted by the MBCA. Unless otherwise approved by the board of directors, Deluxe shall not indemnify any officer or director of Deluxe
who is not otherwise entitled to indemnification pursuant to the prior sentence.

Deluxe maintains an insurance policy or policies to assist in funding
the indemnification of directors and officers for certain liabilities.

Item 7. Exemption from Registration Claimed.

Not Applicable.

Item 8. Exhibits.

| 4.1   
 4.2   |     | Amended                                                                                                                                                       
 and Restated Articles of Incorporation (incorporated by reference to Exhibit 3.1 to the Quarterly Report on Form 10-Q for                                     
 the quarter ended September 30, 2010).                                                                                                                        
 Bylaws, as amended on February 16, 2023 (incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K filed with the SEC on February 21, 2023). |
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