Company: PAYX
Filing Date: 2025-04-08
Form Type: 424B2
Source: 0001193125-25-075170
Chunk: 21

Company: PAYCHEX INC
Filing Date: 2025-04-08
Form: 424B2
Chunk 21
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 on , 20 . The 20 notes will bear interest at % per annum, the 20 notes will bear interest at % per annum and the 20 notes will bear interest at % per annum. We will pay interest on the notes semi-annually in arrears on and of each year, beginning on , 2025, to the persons in whose name the notes are registered at the close of business on the immediately preceding or (whether or not such record date is a business day). Interest on the notes will be computed on the basis of a 360-dayyear composed of twelve 30-daymonths. If an interest payment date or maturity date for the notes falls on a day that is not a business day, we will make the payment on the next business day and no additional interest shall accrue as a result of the delay in payment. Special Mandatory Redemption If (i) the Acquisition is not consummated on or prior to the later of (x) October 7, 2025 or (y) the date that is five business days after any later date to which the parties to the Merger Agreement may agree to extend the “End Date” in the Merger Agreement, (ii) the Merger Agreement is terminated or (iii) the Company notifies the Trustee, in writing, that it will not pursue the consummation of the Acquisition (each, a “Special Mandatory Redemption Event”), we will be obligated to redeem all of the 20 notes, the 20 notes and the 20 notes on the Special Mandatory Redemption Date (as defined below) at a redemption price (the “Special Mandatory Redemption Price”) equal to 101% of the aggregate principal amount of the applicable series of notes, plus accrued and unpaid interest to, but not including, the Special Mandatory Redemption Date. Upon the occurrence of a Special Mandatory Redemption Event, we will promptly (and in any event not more than five business days following such Special Mandatory Redemption Event) deliver written notice to the Trustee of the Special Mandatory Redemption and the date upon which the notes will be redeemed (the “Special Mandatory Redemption Date,” which date shall be no earlier than the fifth business day following the date of such notice) together with a notice of Special Mandatory Redemption for the Trustee to deliver to each registered holder of the notes to be redeemed. The Trustee will then promptly mail, or electronically deliver, according to the procedures of DTC, such notice of Special Mandatory Redemption to each registered holder of the notes to be redeemed. Unless we default in