Company: ADP
Filing Date: 2025-05-07
Form Type: 424B2
Source: 0001193125-25-114878
Chunk: 32

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-05-07
Form: 424B2
Chunk 32
---
 without limitation, the prudence, diversification, delegation of control, conflicts of interest and prohibited transaction provisions of ERISA, the Code and any applicable Similar Laws.

Plan fiduciaries should consider the fact that none of the Company, the underwriters or any of their respective affiliates (collectively, the
“Transaction Parties”) is acting, or will act, as a fiduciary to any Plan with respect to the decision to purchase and/or hold the Notes, or any interest therein, and none of them is undertaking to provide impartial investment advice or
advice based on any particular investment need, or to give advice in a fiduciary capacity, with respect to the decision to purchase and/or hold the Notes, or any interest therein, unless, in each case, a statutory or administrative exemption applies
(all of the applicable conditions of which are satisfied) or the transaction is not otherwise prohibited.

Prohibited Transaction Issues

Section 406 of ERISA and Section 4975 of the Code prohibit Covered Plans from engaging in specified transactions involving plan
assets with persons or entities who are “parties in interest,” within the meaning of Section 406 of ERISA, or “disqualified persons,” within the meaning of Section 4975 of the Code, unless an exemption is available. A
party in interest or disqualified person who engages in a non-exempt prohibited transaction may be subject to excise taxes and other penalties and liabilities under ERISA and the Code and may result in the
disqualification of an IRA if the prohibited transaction involves the IRA owner or his or her beneficiary. In addition, the fiduciary of a Plan that engages in such a non-exempt prohibited transaction may also
be subject to penalties and liabilities under ERISA and/or the Code.

The acquisition and/or holding of Notes, or any interest therein, by
a Covered Plan with respect to which a Transaction Party is considered a party in interest or a disqualified person may constitute or result in a direct or indirect prohibited transaction under Section 406 of ERISA and/or Section 4975 of
the Code, unless the Notes, or any interest therein, are acquired and held in accordance with an applicable statutory, class or individual prohibited transaction exemption. Included among these statutory exemptions are Section 408(b)(17) of
ERISA

S-25

and Section 4975(d)(20) of the Code (the so-called “service provider exemption”), which exempt certain transactions (including, without
limitation, a sale and purchase of securities) between a Covered