Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 50

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 50
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 restatement due to the Company’s material noncompliance with any financial reporting requirement under the federal securities laws, the Company will recover, on a reasonably prompt basis, the excess incentive-based compensation received by any current or former executive officer during the prior three fiscal years that exceeds the amount that the executive officer would have received had the incentive-based compensation been determined based on the restated financial statements. The Clawback Policy is intended to comply with the requirements of Section 10D of the Exchange Act and Nasdaq Listing Rule 5608. Paychex, Inc. 2025 Proxy Statement •43

| CD&A |

Prior to adopting the Clawback Policy, we retained the right to recoup all or a portion of the payouts made under the annual incentive program and equity-based compensation awards if those payouts were based on financial statements that were subsequently subject to restatement and where fraud or misconduct was involved. Non-Competeand Other Forfeiture Provisions Our equity-based compensation agreements state that following termination of employment, certain benefits (including equity-based compensation) will be forfeited if the NEO engages in activities adverse to the Company. These activities include:

| • |     | competition with the Company during a specified period after termination of employment; |

| • |     | solicitation of the Company’s clients or employees during a specified period after termination of employment; |

| • |     | breach of confidentiality either during or after employment; or |

| • |     | engaging in conduct which is detrimental to the Company during the NEO’s employment with the Company. |

Should any of these activities occur, we may cancel all or any outstanding portion of the equity awards subject to this provision and recover the gross value of any vested time-based stock awards and vested performance-based stock awards, including all dividends and dividend equivalents. In the case of stock options, we may suspend the NEO’s right to exercise the option and/or may declare the option forfeited. In addition, we may seek to recover all profits from certain prior exercises as liquidated damages and pursue other available legal remedies. Perquisites Our NEOs receive benefits in the form of vacation, health insurance, life insurance, Company matching contributions to the 401(k) Plan when such contributions are in effect, and other benefits, which are generally available to all our employees. We do not provide our NEOs with pension arrangements, post-retirement health coverage, or other similar benefits, with the exception of access to a non-qualifiedand unfunded deferred compensation plan. Deferred Compensation We offer a non-qualifiedand