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New words:
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Filing tables
Filing exhibits
- 10-K Annual report
- 10 EX-10(N) Paychex, Inc. 2002 Stock Incentive Plan (As Amended and Restated Effective October 12, 2005) Form of Restricted Stock Unit Award
- 10 EX-10(O) Paychex, Inc. 2002 Stock Incentive Plan (As Amended and Restated Effective October 12, 2005) Form of Restricted Stock Unit (Cliff Vest) Award Agreement
- 10 EX-10(P) Paychex, Inc. 2002 Stock Incentive Plan (As Amended and Restated Effective October 12, 2005) Form of Restricted Stock Award Agreement for Directors
- 10 EX-10(Q) Paychex, Inc. 2002 Stock Incentive Plan (As Amended and Restated Effective October 12, 2005) Form of Non-qualified Stock Option Award Agreement for Directors
- 10 EX-10(Y) Paychex, Inc. Officer Performance Incentive Program for the Year Ending May 31, 2009
- 21.1 EX-21.1 Subsidiaries of the Registrant.
- 23.1 EX-23.1 Consent of Independent Registered Public Accounting Firm
- 24.1 EX-24.1 Power of Attorney
- 31.1 EX-31.1 Certification Pursuant to Section 302 of the Sarbanes-oxley Act of 2002
- 31.2 EX-31.2 Certification Pursuant to Section 302 of the Sarbanes-oxley Act of 2002
- 32.1 EX-32.1 Certification Pursuant to 18 U.s.c. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-oxley Act of 2002
- 32.2 EX-32.2 Certification Pursuant to 18 U.s.c. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-oxley Act of 2002
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EXHIBIT 10(y)
Paychex, Inc.
OFFICER PERFORMANCE INCENTIVE PROGRAM
For the Year Ending May 31, 2009
OFFICER PERFORMANCE INCENTIVE PROGRAM
For the Year Ending May 31, 2009
PLAN DESCRIPTION
1. | Participants: Officers of Paychex, Inc., except for the Chief Executive Officer. | |
2. | The maximum incentive for the Senior Vice Presidents is 85% of base salary, and for all other Officers is 60% of base salary. The Chief Executive Officer is subject to a separate performance incentive program. | |
3. | Performance Criteria: The payment of cash bonus awards to participants shall be determined by the Board based on performance against targets established annually by the Board of Directors. The targets include year-over-year revenue growth, year-over-year growth in operating income excluding interest on funds held for clients, and improvement in operating income excluding interest on funds held for clients as a percentage of service revenues, and, for the Officers within sales, new business revenue. Qualitative targets are established annually, based on functions unique to the individual. | |
4. | Payment: Incentive payments to be paid in July 2009 after Board approval. Officer must be employed at the fiscal year end to be eligible for any bonus. | |
5. | Changes and Termination: Bonus awards, changes to and termination of the Program is at the sole discretion of the Board. |