Company: ADP
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001308179-25-000607
Chunk: 90

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 90
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| (4) | Amounts in the Termination Following Change In Control, Involuntary Termination Without Cause and Retirement columns represent the vesting of RSU awards in full. Amounts in the Death and Disability columns represent the vesting of the September 1, 2023 and September 1, 2024 RSU awards in full.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| (5) | Amount in the Termination Following Change In Control column represents amount attributable to the fiscal years 2024 and 2025 PSU programs assuming performance goals of these programs will be achieved at 100% target rate. Amounts in the Death, Disability, Involuntary Termination Without Cause, and Retirement columns represent the sum of (a) the full fiscal year 2024 PSU award based on performance goals achieved at 111% target rate for fiscal year 2024, at 132% target rate for fiscal year 2025, and an assumed achievement at target rate for fiscal year 2026 plus (b) the full fiscal year 2025 PSU award based on performance goals achieved at 132% target rate for fiscal year 2025 and an assumed achievement at target rate for fiscal years 2026 and 2027. The amount actually payable upon an involuntary termination without cause and retirement would be determined based on actual achievement of the performance goals under the fiscal years 2024 and 2025 PSU awards. All amounts include accrued dividend equivalents through June 30, 2025. |
| (6) | Represents the present value of the incremental benefit using the Pri-2012 mortality table projected generationally using scale MP-2021 (with a white collar adjustment) and a 5.35% discount rate, assuming disability occurring on June 30, 2025.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| (7) | Represents the present value of Mr. Bonarti’s health coverage under our retiree medical plan using a discount rate of 5.42% and a medical inflation rate beginning at 7.85% for 2025-2026 and ultimately settling at 4.0% by 2050.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

| Automatic Data Processing, Inc. – Proxy Statement | | | 88 |

| Potential Payments to Named Executive Officers Upon Termination or Change in Control |

POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL FOR JOSEPH DESILVA

|                     |     | Termination