Company: DLX
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000027996-25-000107
Chunk: 36

Company: DELUXE CORP
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 36
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 to provide a structured and measurable way to reward executives for achieving threshold to maximum levels of performance outcomes, ensuring that incentives are meaningful and challenging. No payouts are made on a financial metric if the threshold performance requirements for that metric are not met. This structure helps mitigate excessive risk-taking, ensures payouts are competitive and market-aligned, and provides a clear framework for assessing performance and determining payouts.

The following table summarizes the 2024 AIP threshold and maximum performance requirements relative to the financial targets and the corresponding payout percentages.

| Performance             
 Level                   |     | Enterprise Comparable 
 Adjusted              
 EBITDA                |     | Enterprise          
 Comparable Adjusted 
 EPS                 |     | Enterprise Comparable 
 Adjusted              
 Revenue               |     | Business Unit   
 Revenue         |     | Payout        
 (% of target) |
| Maximum (% of Target)   |     | ≥ 110.0% of AOP       |     | ≥ 115.0% of AOP     |     | ≥ 110.0% of AOP       |     | ≥ 110.0% of AOP |     | 200%          |
| Target                  |     | 100%                  |     | 100%                |     | 100%                  |     | 100%            |     | 100%          |
| Threshold (% of Target) |     | 92% of AOP            |     | 87% of AOP          |     | 92.5% of AOP          |     | 92.5% of AOP    |     | 50%           |
| Below Threshold         |     | —                     |     | —                   |     | —                     |     | —               |     | 0%            |

Strategic Initiatives

The Committee believes strategic initiatives ensure that executives are focused on achieving important objectives that contribute to overall business success. For this metric of the AIP, the Committee identified areas of focus related to specific operational goals of the company and its segments. The Committee assessed the company's performance in each of these areas, which included a quantitative assessment of each initiative, followed by a qualitative assessment of overall company performance and management's efforts. The following table summarizes the quantifiable portion of the 2024 AIP strategic initiative goals identified by the Committee.

| Strategic Initiative                                                                                                                        |     | Threshold |     | Target |     | Maximum |
| Enterprise: Unlocking value in key areas specific to North Star measured as a percentage of the total 2024 implemented value of the