Company: PAYX
Filing Date: 2025-04-09
Form Type: 424B2
Source: 0001193125-25-076822
Chunk: 69

Company: PAYCHEX INC
Filing Date: 2025-04-09
Form: 424B2
Chunk 69
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| • |     | 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 by either the trustee or holders of not less than twenty-five percent (25%) in aggregate principal amount of the outstanding debt securities of such series; |

| • |     | certain events of bankruptcy, insolvency or reorganization of us; or |

| • |     | any other Event of Default provided in the applicable resolution of our board of directors or the officer’s 
 certificate or supplemental indenture under which we issue such series of debt securities.                  |

An Event of Default for a particular series of debt securities does not necessarily constitute an Event of Default for any other series of debt securities issued under the indenture. If an Event of Default (other than an Event of Default relating to events of bankruptcy, insolvency or reorganization of us) involving any series of debt securities has occurred and is continuing, the trustee or the holders