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Paychex Inc (PAYX.OQ)

PAYX.OQ on NASDAQ Stock Exchange Global Select Market

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Summary

Name Age Since Current Position

B. Thomas Golisano

77 2015 Non-Independent Chairman of the Board

Martin Mucci

59 2015 President, Chief Executive Officer, Non-Independent Director

Efrain Rivera

62 2011 Chief Financial Officer, Senior Vice President, Treasurer

Mark Bottini

58 2011 Senior Vice President - Sales

John Gibson

53 2013 Senior Vice President - Service

Michael Gioja

61 2011 Senior Vice President - Information Technology, Product Development

Robert Schrader

47 2019 Vice President, Controller

Jennifer Vossler

55 2019 Vice President, Assistant Treasurer

Laurie Zaucha

54 2011 Vice President - Human Resources and Organizational Development

Stephanie Schaeffer

49 2011 Chief Legal Officer, Vice President, Corporate Secretary

Joseph Tucci

72 2015 Lead Independent Director

Thomas Bonadio

70 2017 Independent Director

Joseph Doody

67 2010 Independent Director

David Flaschen

63 1999 Independent Director

Pamela Joseph

60 2018 Independent Director

Joseph Velli

60 2007 Independent Director

Kara Wilson

49 2017 Independent Director

Terri Allen

2012 IR Contact

Biographies

Name Description

B. Thomas Golisano

Mr. B. Thomas Golisano is Non-Independent Chairman of the Board of the Company. Mr. Golisano founded Paychex in 1971 and is Chairman of the Board of the Company. He served as President and Chief Executive Officer (“CEO”) of the Company until October 2004. He serves on the board of trustees of the Rochester Institute of Technology. Mr. Golisano serves on the board of Twinlab Consolidated Holdings, Inc. and serves as a director of numerous non-profit organizations and private companies. He is founder and member of the board of trustees of the B. Thomas Golisano Foundation. The Board has concluded that Mr. Golisano is qualified to lead the Board due to his relevant executive leadership experience and extensive knowledge of the operations of the Company. These skills were attained through his role of founder and former CEO of Paychex.

Martin Mucci

Mr. Martin Mucci is President, Chief Executive Officer, Non-Independent Director of the Company. Mr. Mucci has served as President and CEO of the Company since September 2010. Mr. Mucci joined the Company in 2002 as Senior Vice President (“SVP”), Operations. Prior to joining Paychex, he held senior level positions with Frontier Communications, a telecommunications company, including President of Telephone Operations and CEO of Frontier Telephone of Rochester, over the course of his 20-year career. Mr. Mucci was a member of the Board of Directors of Cbeyond, Inc. until it was purchased by Birch Communications in July 2014. He is a member of the Upstate New York Regional Advisory Board of the Federal Reserve Bank of New York and is a Trustee Emeritus of St. John Fisher College.

Efrain Rivera

Mr. Efrain Rivera is a Chief Financial Officer, Senior Vice President, Treasurer of the Company. Prior to joining the Company, Mr. Rivera served as Vice President of Finance and Administration for Houghton College from 2009 to 2011. He previously served for over twenty years with Bausch & Lomb Incorporated, a world leader in the development, manufacture, and marketing of eye health products, most recently as Corporate Vice President and Chief Financial Officer from 2007 to 2009.

Mark Bottini

Mr. Mark A. Bottini is Senior Vice President - Sales of the Company. From 2008 to 2011, Mr. Bottini served as Vice President of Sales for Ricoh, North America, a provider of advanced office technology and innovative document imaging products, services, and software. He assumed his most recent position with Ricoh when Ricoh acquired IKON Office Solutions, Inc. During his nearly 20 years with IKON, Mr. Bottini served in a variety of sales leadership and field management roles.

John Gibson

Mr. John B. Gibson is a Senior Vice President - Service of the Company. Prior to joining the Company, Mr. Gibson served as President and Chief Executive Officer for AlphaStaff, a national provider of human resource outsourcing services to small- and medium-sized businesses. Prior to joining AlphaStaff in 2010, Mr. Gibson was President of the HR Management Division of Convergys, a global leader in technology, outsourcing, and business services. From 2004 to 2007, he served as Senior Vice President of Global Operations and Client Services of Convergys.

Michael Gioja

Mr. Michael E. Gioja is Senior Vice President - Information Technology, Product Development of the Company. Mr. Gioja was named Senior Vice President of Information Technology and Product Development in July 2011. Mr. Gioja has been with the Company since November 2008 and previously served as Senior Vice President of Information, Technology, Product Management, and Development and Vice President of Product Management. Previously, he was Chief Information Officer and Executive Vice President of Products and Services for Workstream, Inc., a provider of on-demand enterprise talent management solutions and services.

Robert Schrader

Mr. Robert L. Schrader is Vice President, Controller of the Company. He is a senior executive with over 20 years of experience in corporate finance and public accounting. Most recently he served as Senior Director, Financial Planning and Analysis at Paychex, since August 2017. He first joined Paychex in December 2014 as Director, Internal Audit. Prior to Paychex, Mr. Schrader was Chief Financial Officer for Unither Manufacturing LLC in Rochester, N.Y. Before taking that role, Mr. Schrader was with Bausch & Lomb, Inc. and culminated his 10-year career there as Vice President of Finance and Controller of Global Quality and Operations. He was a former Audit Manager at PricewaterhouseCoopers LLP. Mr. Schrader is a certified public accountant. He holds an MBA from the University of Rochester’s Simon Business School and a Bachelor of Science degree in Accounting from the State University of New York College at Brockport.

Jennifer Vossler

Ms. Jennifer R. Vossler, CPA, is Vice President, Assistant Treasurer of the Company. Ms. Vossler joined the Company in May 2009 as Vice President and Controller. Prior to joining the Company, she served as Vice President and Corporate Controller, and held various executive and senior management positions during her eleven years at Bausch & Lomb Incorporated. Previously in her career, she held leadership roles with a global facilities management outsourcing company and a public accounting firm.

Laurie Zaucha

Ms. Laurie L. Zaucha is a Vice President - Human Resources and Organizational Development of the Company. Ms. Zaucha joined the Company in March 2011 and was named Vice President of Human Resources and Organizational Development. Prior to joining the Company, she served as Senior Vice President of Human Resources for Paetec Holding Corp., a Fortune 1000 telecommunications company, from 2007 to 2011. From 2003 to 2007, she held various executive positions at Bausch & Lomb Incorporated.

Stephanie Schaeffer

Ms. Stephanie L. Schaeffer is Chief Legal Officer, Vice President, Corporate Secretary of the Company. She joined Paychex in 2000 as Corporate Counsel and was promoted to Director of Legal Affairs in 2004. In her current role, she is responsible for overseeing all of the Company's legal functions, including litigation, corporate governance, and regulatory matters.

Joseph Tucci

Mr. Joseph M. Tucci is Lead Independent Director of the Company. Mr. Tucci is the co-founder of GTY Technology Holdings, Inc., a special purpose acquisitions company founded in September 2016, and is a member of the board of directors. He has been Chairman of Bridge Growth Partners, LLC, a private equity firm based in New York, since October 2016. Mr. Tucci was the former Chairman of the Board of Directors and CEO of EMC Corporation, a provider of data-storage systems. He was EMC’s Chairman from January 2006 and CEO from January 2001 until September 2016, when Dell Technologies acquired the company. He was Chairman of the Board of Directors for VMWare, Inc. from 2007 through September 2016. He serves on the Board of Directors of Motorola Solutions, Inc., and on the boards of various academic and community organizations. The Board has concluded that Mr. Tucci is qualified to serve as a director of the Company due to his extensive executive leadership experience as CEO of EMC Corporation. Mr. Tucci has spent over 40 years in the technology industry in senior roles at large, complex, and global technology companies. His experience leading EMC through a period of dramatic revitalization, growth and market share gains, and new product introductions enables him to share knowledge of the challenges a company faces due to rapid changes in the marketplace.

Thomas Bonadio

Mr. Thomas F. Bonadio serves as Independent Director of the Company. Mr. Bonadio is the founder and senior counsel of The Bonadio Group, the largest independent provider of accounting, business advisory, and financial services in New York State outside of Manhattan. Mr. Bonadio has experience serving on community organizations and not-for-profit boards, as well as publicly traded boards. He is currently a director and chair of the audit committee for CurAegis Technologies, Inc. He also previously served as a director and audit committee chair for Conceptus, Inc., which is now a wholly owned subsidiary of Bayer AH of Germany.

Joseph Doody

Mr. Joseph G. Doody is Independent Director of the Company. Mr. Doody retired from Staples, Inc., an office products company, in September 2017. He previously served as Vice Chairman of Staples, Inc. since February 2014. Prior to that, he served as President, North American Commercial, from January 2013 until February 2014, and President, North American Delivery, from March 2002 to January 2013. Mr. Doody has experience serving on other public boards, including Casella Waste Systems, Inc. and Virtusa Corporation. Mr. Doody is a member of the Foundation Board at The College at Brockport.

David Flaschen

Mr. David J.S. Flaschen is Independent Director of the Company. Mr. Flaschen is an investor and advisor to a number of private companies providing business, marketing, and information services. Mr. Flaschen is the co-founder of Regrub, LLC, a Smashburger franchisee group in the United States (“U.S.”). From 2005 to 2011, he was a partner with Castanea Partners, a private equity investment firm. Mr. Flaschen is a member of the National Association of Corporate Directors Blue Ribbon Commission on Adaptive Governance for Board Oversight of Disruptive Risks. Mr. Flaschen is also a director/advisor of various private companies. He also serves as a director and member of the audit committee for Informa PLC, a Financial Times Stock Exchange 100 public company which is traded on the London Stock Exchange.

Pamela Joseph

Ms. Pamela A. Joseph is Independent Director of the Company. Ms. Joseph served as President and Chief Operating Officer of Total System Services, Inc. (“TSYS”), from May 2016 until September 2017. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare, and business solutions. Previously, she served as a Vice Chairman of U.S. Bancorp Payment Services and Chairman of Elavon (formerly NOVA Information Systems, Inc.), a wholly owned subsidiary of U.S. Bancorp, from December 2004 until her retirement in June 2015. U.S. Bancorp Payment Services and Elavon manage and facilitate consumer and corporate card issuing, as well as payment processing. Ms. Joseph serves on the Board of Directors of TransUnion, and previously served on our Board from November 2005 until March 2017. The Board has concluded that Ms. Joseph is qualified to serve as a director of the Company due to her extensive executive experience in the financial services and payment industries. Her wealth of technology experience brings insight to the Board and its committees. In addition, her experience with major acquisitions, board experience with the healthcare services field, and international expansion provides valuable input towards the Company’s growth plans.

Joseph Velli

Mr. Joseph Mark Velli is Independent Director of the Company. Mr. Velli currently serves on the Board of Directors of Computershare Limited, a global provider of corporate trust, stock transfer, employee share plan, and mortgage servicing services. In December 2017, Mr. Velli was appointed to the Board of Directors of Cognizant Technology Solutions Corp., a multinational corporation that provides information technology services, including digital, technology, consulting, and operations services. He also serves on the Board of Directors of Foreside Financial Group, a private company in the investment management industry. Mr. Velli previously served as Senior Executive Vice President of The Bank of New York and as a member of the Senior Policy Committee. During his 22-year tenure with The Bank of New York, Mr. Velli’s responsibilities included heading Global Issuer Services, Global Custody and related Investor Services, Global Liquidity Services, Pension and 401(k) Services, Consumer and Retail Banking, Correspondent Clearing, and Securities Services. Most recently, he served as Chairman and CEO of ConvergEx Group, LLC, a provider of brokerage, software products, and technology services from 2006 to 2013, and continued to serve on the ConvergEx Board until 2014. Mr. Velli served on the Board of Directors of E*TRADE Financial Corporation and E*TRADE Bank until October 2014. Mr. Velli has been a member of the board of trustees for William Paterson University since June 2017. Mr. Velli acts as a Senior Advisor to Lovell Minnick Partners and, from time to time, he provides advisory services to other private equity firms.

Kara Wilson

Ms. Kara Wilson serves as Independent Director of the Company. Ms. Wilson was formerly Chief Marketing Officer at Rubrik, Inc., a cloud data management company, a role she held since June 2017. She has over 20 years of experience in driving go-to-market strategies for large, medium, and hyper-growth start-ups. She has held marketing leadership roles with some of the technology industry’s most influential companies, including Cisco Systems, SAP, SuccessFactors, PeopleSoft/Oracle, Okta, and FireEye, Inc. Prior to Rubrik, from October 2016 to June 2017, Ms. Wilson was Executive Vice President and from August 2013 to June 2017, Chief Marketing Officer of cyber security company FireEye, where she helped launch FireEye’s initial public offering and was responsible for the company’s global marketing initiatives including corporate, product, and technical marketing, global communications, and field enablement.

Terri Allen

Basic Compensation