Company: PAYX
Filing Date: 2025-04-08
Form Type: 424B2
Source: 0001193125-25-075170
Chunk: 68

Company: PAYCHEX INC
Filing Date: 2025-04-08
Form: 424B2
Chunk 68
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 by such consolidation or                                                                                                                                                                                                                         
 into which we are merged or to which all or substantially all of our consolidated properties and assets are transferred or leased is a person organized or formed under the laws of the United States, any state of the United States or the District of                                                                                 
 Columbia and, if such entity is not a corporation, a co-obligor of the debt securities is a corporation organized or existing under any such laws, and such successor corporation or person, including such co-obligor, if any, expressly assumes by supplemental indenture our obligations under the debt securities and the indenture; |

| • |     | immediately after giving effect to such transaction, no Event of Default or event, which after notice or lapse of 
 time or both would become an Event of Default, shall have occurred and be continuing; and                         |

| • |     | we shall have delivered to the trustee an officer’s certificate and opinion of counsel that such 
 consolidation, merger, transfer or lease complies with the indenture.                            |

Upon any such consolidation, merger, transfer or lease, the resulting, surviving or transferee person (if not us) shall succeed to, and may exercise every right and power of, ours under the indenture, and we shall be discharged from our obligations under the debt securities and the indenture, except in the case of any such lease. This covenant would not apply to any recapitalization transaction, a change of control of us or a highly leveraged transaction, unless the transaction or change of control were structured to include a merger or consolidation or transfer or lease of all or substantially all of our consolidated properties and assets. Events of Default Unless otherwise indicated, the term “Event of Default,” when used in the indenture with respect to the debt securities of any series, means any of the following:

| • |     | failure to pay interest for 30 days after the date payment on any debt security of such series is due and                                                                   
 payable; provided that an extension of an interest payment period by us in accordance with the terms of the debt securities shall not constitute a failure to pay interest; |

| • |     | failure to pay principal or premium, if any, on any debt security of such series when due, either at maturity, 
 upon any redemption, by declaration or otherwise;                                                              |

| • |     | failure to perform any other covenant in the indenture or the debt securities of such series for 90 days after                                                                                                                       
 written notice that performance was required, which notice must be sent