Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 65

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 65
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 in the event of retirement after the first anniversary of the grant date, the performance-based RSUs remain outstanding and continue to vest. The number of shares earned is determined after the end of the performance period, and the NEO receives payment of the number of shares earned. In the event of retirement before the one-year anniversary of the grant date, the performance-based RSUs granted in 2025 are forfeited. |

Paychex, Inc. 2025 Proxy Statement •56

| NEO Compensation |

Retirement eligible for equity awards means the NEO is age 60 or older with 10 or more years of service. As of May 31, 2025, Messrs. Bottini and Gioja were retirement eligible. Potential Benefits Upon Separation from Company The following table presents, as of May 31, 2025, the compensation and benefits that would be owed to our NEOs upon separation from employment from the Company for the various reasons specified.

| John B. Gibson                    |     | Annual       
 Compensation 
 per the      
 Summary      
 Compensation 
 Table(1)     |   |           |     | Potential Payments Upon Separation 
 Voluntary                          
 Resignation/                       
 Termination                        |   |   |     | Death or   
 Disability |   |            |     | Retirement |   |           |     | Termination 
 Other Than  
 For Cause/  
 Resignation 
 For         
 Good Reason 
 within      
 One Year of 
 Change of   
 Control     |   |            |
|:----------------------------------|:----|:-------------|:--|----------:|:----|:-----------------------------------|:--|:--|:----|:-----------|:--|-----------:|:----|:-----------|:--|----------:|:----|:------------|:--|-----------:|
| Base Salary(2)                    |     |              |   |           |     |                                    | $ | — |     |            | $ |          — |     |            | $ |         — |     |             | $ |  1,800,000 |
| Annual Incentive(3)               |     |              |   |           |     |                                    |   | — |     |            |   |    957,375 |     |            |   |   957,375 |     |             |   |  2,700,000 |
| Stock Options(4)                  |     |              |   |           |     |                                    |   |