Company: PAYC
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001193125-25-072358
Chunk: 71

Company: Paycom Software, Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 71
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| (11) | The applicable award agreements provide that unvested RSAs, unvested PSAs or unvested RSUs, as applicable, vest 100% upon the participant’s death or termination of service as a result of total and permanent disability (as defined in the applicable award agreement). The restricted stock award agreements governing the terms of awards granted to Mr. Peck and Ms. Walker prior to their respective appointments as executive officers provide that if at any time during the period beginning on the date of termination and ending on the 60th day following the third anniversary of the termination, the Company determines that the participant breached certain non-solicitation, non-competition, non-disparagement and confidentiality restrictions in the agreement, all RSAs and PSAs (whether or not vested and whether then held by the participant) shall be subject to certain forfeiture and clawback provisions. |

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| (12) | Upon a change in control (as defined in the 2014 LTIP or 2023 LTIP, as applicable), (i) the awards will continue in accordance with their terms if they are assumed by the surviving entity (or if the Company is the surviving entity) and (ii) 100% of the RSAs, PSAs or RSUs not previously vested will vest if the award is not assumed by the surviving entity. For purposes of this table, we have assumed that the surviving entity will assume the obligations under the equity award and, as a result, the award will remain outstanding and subject to vesting in accordance with its terms. |

| (13) | All unvested RSAs, unvested PSAs or unvested RSUs, as applicable, would be forfeited on the date of a termination of service without cause or by the NEO for good reason. |

| (14) | On May 29, 2024, the Company and Mr. Thomas entered into the Severance Agreement pursuant to which, among other things, (i) Mr. Thomas was paid cash severance of $812,876, less applicable withholdings and taxes, which amount represented 12 months of Mr. Thomas’s base salary and the cost of 12 months of coverage pursuant to COBRA, and (ii) the vesting of 2,000 RSAs was accelerated. See “Employment Agreements and Arrangements—Other Arrangements.” |

| (15) | In April 2024, Ms. Faurot transitioned to a non