Company: ADP
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001308179-25-000607
Chunk: 65

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 65
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 to maximize her business availability and productivity. Ms. Black is required to reimburse the company for the aggregate incremental cost in excess of $250,000 per fiscal year and is responsible for any income taxes in connection with any such personal use. In addition, Ms. Black may be provided with security in certain personal, non-business-related circumstances, as recommended by an independent third-party security firm’s risk assessment and validated by the company’s global security organization. The committee and the board consider these offerings to be in the best interest of the company by enhancing the safety and welfare of the company’s most critical executive, while allowing for increased focus, availability, and productivity on business matters during personal travel.

| Automatic Data Processing, Inc. – Proxy Statement   | | 60 |

| Compensation Discussion and Analysis |

In accordance with the company’s standard policies available to all associates in the company’s relocation program, Mr. McGuire received tax reimbursement payments associated with a previous expatriate assignment. Change in Control Arrangements The Automatic Data Processing, Inc. Change in Control Severance Plan for Corporate Officers is designed to: (i) retain our corporate officers (including the NEOs) and (ii) align their interests with our stockholders’ interests so that they can consider transactions that are in the best interests of our stockholders and maintain their focus without concern regarding how any such transaction might personally affect them. Our Change in Control Severance Plan for Corporate Officers is described in more detail below under “Potential Payments To Named Executive Officers Upon Termination or Change in Control.” Under this plan, our chief executive officer is entitled to severance equal to two times base salary and bonus upon termination of employment without cause or with good reason, while our other NEOs are entitled to severance equal to one and one-half times base salary and bonus. We believe that a higher severance multiple for our chief executive officer is needed in order to attract and retain the individual we believe is best suited for the position. Our chief executive officer is the individual the public and our stockholders most closely identify as the face of the company. The chief executive officer has the greatest individual impact on our success and faces the greatest personal financial risks when the company takes risks. Our Change in Control Severance Plan for Corporate Officers also provides that the vesting of all unvested equity awards would be accelerated under qualifying termination scenarios based on a “double-trigger” in which payments of cash and vesting of equity awards occur only if termination of employment without cause or by a participant for good reason occurs during the two