Company: ADP
Filing Date: 2025-05-07
Form Type: 424B2
Source: 0001193125-25-114878
Chunk: 33

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-05-07
Form: 424B2
Chunk 33
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 Plan and a party in interest or disqualified person so long as (i) such party in interest or disqualified person is treated as such solely by reason of providing services to the
Covered Plan, (ii) such party in interest or disqualified person is not a fiduciary which renders investment advice, or has or exercises discretionary authority or control, with respect to the plan assets involved in such transaction, or an
affiliate of any such person and (iii) the Covered Plan neither receives less than nor pays more than “adequate consideration” (as defined in such sections of ERISA and the Code) in connection with such transaction. In addition, the
U.S. Department of Labor has issued prohibited transaction class exemptions (“PTCEs”) that may apply to the acquisition and holding of the Notes by a Covered Plan. These class exemptions include, without limitation, PTCE 84-14, as amended, with respect to transactions determined by independent qualified professional asset managers, PTCE 90-1, with respect to insurance company pooled separate
accounts, PTCE 91-38, with respect to bank collective investment funds, PTCE 95-60, with respect to life insurance company general accounts and PTCE 96-23, with respect to transactions determined by in-house asset managers. Each of the above-noted exemptions contains conditions and limitations on its application.
Fiduciaries of Covered Plans considering acquiring and/or holding the Notes, or any interest therein, in reliance on these or any other exemptions should carefully review the exemption to assure it is applicable. There can be no assurance that any
such exemptions will be available, or that all of the conditions of any such exemptions will be satisfied with respect to transactions involving the Notes, or any interest therein.

Government plans (as defined in Section 3(32) of ERISA), non-U.S. plans (as described in
Section 4(b)(4) of ERISA) and certain church plans( as defined in Section 3(33) of ERISA or Section 4975(g)(3) of the Code), while not subject to the fiduciary responsibility provisions of Title I of ERISA or the prohibited
transaction provisions of Section 406 of ERISA or Section 4975 of the Code, may nevertheless be subject to Similar Laws. Fiduciaries of such Plans should consult with their counsel regarding the potential consequences of an investment in
the Notes, or any interest therein, under any applicable Similar Laws before acquiring the Notes.

Representations

Accordingly