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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Registration No.&nbsp;333-______
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">As filed with the Securities and Exchange Commission on May&nbsp;6, 2008
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT UNDER THE<BR>
SECURITIES ACT OF 1933</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>DELUXE CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Minnesota</B><BR>
(State or other jurisdiction <BR>
of incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>41-0216800</B><BR>
(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
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</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>3680 Victoria St. N.<BR>
Shoreview, Minnesota 55126</B><BR>
(Address of principal executive offices,<BR>
including zip code)
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 18pt"><B>DELUXE CORPORATION 2008 STOCK INCENTIVE PLAN</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Full title of the plan)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
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    <TD width="47%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top">Anthony C. Scarfone
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Copy to:</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">Senior Vice President, General Counsel and Secretary <BR>
Deluxe Corporation D <BR>
3680 Victoria St. N. 5<BR>
Shoreview, Minnesota 55126 M<BR>
(651)&nbsp;483-7122
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Robert A. Rosenbaum<BR>
orsey &#038; Whitney LLP<BR>
0 South Sixth Street, Suite&nbsp;1500<BR>
inneapolis, MN 55042<BR>
(612)&nbsp;340-5681</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center">(Name, address and telephone number,<BR></TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center">including area code, of agent for service)<BR></TD>
</TR>
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</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="39%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left"><B>Title of securities to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>offering price per</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>aggregate offering</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left"><B>registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>to be registered(1)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>share(2)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>price(2)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>registration fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock,
par value $1.00 per share(3)</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">4,000,000 shares</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$21.35</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$85,400,000</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$3,356.22</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</DIV>



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<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
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<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to Rule&nbsp;416 under the Securities Act of 1933, as amended, this registration
statement also covers any additional shares of common stock that become issuable under the
Deluxe Corporation 2008 Stock Incentive Plan pursuant to its antidilution provisions.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the registration fee in accordance with Rule
457(h)(1) and (c)&nbsp;under the Securities Act of 1933, as amended. The proposed maximum offering
price is based on the average of the high and low prices of Deluxe Corporation common stock as
reported on the New York Stock Exchange on April&nbsp;30, 2008.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes corresponding rights to acquire shares of Deluxe Corporation common stock pursuant to
the Amended and Restated Rights Agreement, dated as of December&nbsp;20, 2006, by and between the
Company and Wells Fargo Bank, National Association.</TD>
</TR>

</TABLE>



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">








<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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</TR>
<TR><TD colspan="9"><A HREF="#000">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. Incorporation of Documents by Reference.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. Description of Securities.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. Interests of Named Experts and Counsel.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;6. Indemnification of Directors and Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;7. Exemption from Registration Claimed.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;8. Exhibits.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;9. Undertakings.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="c26475exv5w1.htm">Opinion of Anthony C. Scarfone</A></TD></TR>
<TR><TD colspan="9"><A HREF="c26475exv23w2.htm">Consent of PricewaterhouseCoopers LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="c26475exv24w1.htm">Power of Attorney</A></TD></TR>
</TABLE>
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<!-- link1 "PART II" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>

<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference." -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents have been filed with the Securities and Exchange Commission (the
&#147;SEC&#148;) by Deluxe Corporation (&#147;Deluxe&#148; or the &#147;Company&#148;), are incorporated by reference in this
registration statement:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2007;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company&#146;s Current Report on Form 10-Q filed with the SEC on May&nbsp;1, 2008;
and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Company&#146;s common stock and preferred stock purchase
rights contained in any registration statement or report filed by the Company under
the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), including any
amendment or report filed for the purpose of updating such description.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the
Exchange Act subsequent to the date hereof and prior to the filing of a post-effective amendment
which indicates that all securities offered hereby have been sold or which deregisters all
securities remaining unsold shall be deemed to be incorporated by reference herein and to be a part
hereof from the respective dates of filing of such documents.
</DIV>
<!-- link2 "Item&nbsp;4. Description of Securities." -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel." -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anthony C. Scarfone, who is providing an opinion of counsel with respect to the securities to
which this Registration Statement on Form S-8 relates, is an employee and officer (Senior Vice
President, General Counsel and Secretary) of the Company. As of May&nbsp;6, 2008, Mr.&nbsp;Scarfone owned
stock options to purchase 194,025 shares of Deluxe&#146;s common stock, all of which were awarded to him
in his capacity as an employee of the Company, and 127,925 of which are currently exercisable. Mr.
Scarfone also owns 35,758 shares of the Company&#146;s common stock, and 3,668 restricted stock units
that will be converted into shares of the Company&#146;s common stock in 2010, provided he remains in
the employ of the Company. Mr.&nbsp;Scarfone is eligible to receive awards under the Deluxe Corporation
2008 Stock Incentive Plan.
</DIV>
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers." -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;302A.521, subd. 2, of the Minnesota Business Corporation Act (the &#147;MBCA&#148;) requires
Deluxe to indemnify a person made or threatened to be made a party to a proceeding by reason of the
former or present official capacity of the person with respect to Deluxe against judgments,
penalties, fines, including, without limitation, excise taxes assessed against the person with
respect to an employee benefit plan, settlements and reasonable expenses, including attorneys&#146; fees
and disbursements, incurred by the person in connection with the proceeding (collectively,
&#147;Losses&#148;) if, with respect to the same acts or omissions, such person: (1)&nbsp;has not been indemnified
by another organization or employee benefit plan for the same Losses; (2)&nbsp;acted in good faith; (3)
received no improper personal benefit, and statutory procedures have been followed in the case of
any conflict of interest by a director; (4)&nbsp;in the case of a criminal proceeding, had no reasonable
cause to believe the conduct was unlawful; and (5)&nbsp;in the case of acts or omissions occurring in
the person&#146;s official capacity as director, officer, member of a committee of the board or
employee, reasonably believed that the conduct was in the best interests of the corporation, or in
the case of acts or omissions occurring in a director&#146;s, officer&#146;s or employee&#146;s capacity as a
director, officer, partner, trustee, employee or agent of another organization or employee benefit
plan, reasonably believed that the conduct was not opposed to the best interests of the
corporation.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->II-1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;XII of Deluxe&#146;s Amended Articles of Incorporation provides that no director of Deluxe
shall be personally liable to Deluxe or its shareholders for monetary damages for breach of
fiduciary duty by such director as a director. Article&nbsp;XII does not, however, limit or eliminate
the liability of a director to the extent provided by applicable law for (i)&nbsp;any breach of the
director&#146;s duty of loyalty to Deluxe or its shareholders, (ii)&nbsp;acts or omissions not in good faith
or which involve intentional misconduct or a knowing violation of law, (iii)&nbsp;authorizing a
dividend, stock repurchase or redemption or other distribution in violation of Minnesota law or for
violation of certain provisions of Minnesota securities laws or (iv)&nbsp;any transaction from which the
director derived an improper personal benefit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bylaws of Deluxe provide that Deluxe shall indemnify such persons for expenses and
liabilities, in such manner, under such circumstances and to such extent as permitted by the
provisions of the Minnesota Statutes relating to indemnification of directors, officers and
employees of Minnesota corporations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deluxe maintains an insurance policy or policies to assist in funding the indemnification of
directors and officers for certain liabilities.
</DIV>
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed." -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;8. Exhibits." -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Articles of Incorporation (incorporated by reference to the Annual
Report on Form 10-K for the year ended December&nbsp;31, 1990).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Bylaws (incorporated by reference to Exhibit&nbsp;3.2 to the Quarterly
Report on Form 10-Q for the quarter ended June&nbsp;30, 2006).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amended and Restated Rights Agreement, dated as of December&nbsp;20, 2006,
by and between the Company and Wells Fargo Bank, National
Association, as Rights Agent, which includes as Exhibit&nbsp;A thereto,
the Form of Rights Certificate (incorporated by reference to Exhibit
4.1 to the Current Report on Form 8-K filed with the Commission on
December&nbsp;21, 2006).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Opinion of Anthony C. Scarfone.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">23.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Consent of Anthony C. Scarfone (included in Exhibit&nbsp;5.1).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">23.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Consent of PricewaterhouseCoopers LLP.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">24.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Power of Attorney.</TD>
</TR>

</TABLE>
</DIV>
<!-- link2 "Item&nbsp;9. Undertakings." -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned registrant hereby undertakes:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any prospectus required by Section&nbsp;10(a)(3) of the Securities
Act of 1933, as amended (the &#147;Securities Act&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the
registration statement. Notwithstanding the foregoing, any increase or
decrease in volume of </TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->II-2<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>securities offered (if the total dollar value of securities
offered would not exceed that which was registered) and any deviation from the low
or high end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148; table in
the effective registration statement; and</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement;</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><I>provided</I>, <I>however, </I>that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the SEC by the registrant pursuant to
Section&nbsp;13 or Section 15(d) of the Exchange Act that are incorporated by reference in the
registration statement.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining any liability under the Securities Act, each
such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial <I>bona fide </I>offering thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the registrant&#146;s annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide </I>offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC
such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than
the payment by the registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->II-3<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Shoreview, State of Minnesota, on May&nbsp;6,
2008.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">DELUXE CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Lee J. Schram
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Lee J. Schram&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, this registration
statement has been signed by the following persons in the capacities indicated on May&nbsp;6, 2008.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">

    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" colspan="3" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ Lee J. Schram
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Lee J. Schram</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Chief Executive Officer and Director<br>
(Principal Executive Officer)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ Richard S. Greene
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Richard S. Greene</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Senior Vice President, Chief Financial Officer<br>
(Principal Financial Officer)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ Terry D. Peterson
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Terry D. Peterson</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Vice President, Investor Relations and Chief<br>
Accounting Officer<br>
(Principal Accounting Officer)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ *
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Ronald C. Baldwin</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ *
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Charles A. Haggerty</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ *
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Isaiah Harris, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ *
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Don J. McGrath</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ *
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Cheryl E. Mayberry McKissack</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ *
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Neil J. Metviner</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ *
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Stephen P. Nachtsheim</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ *
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Mary Ann O&#146;Dwyer</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD colspan="3" align="left" valign="top">/s/ *
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Martyn R. Redgrave</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">*By:</td>
    <TD align="left" valign="top">&nbsp;</td>

    <TD align="left" valign="top">/s/ Anthony C. Scarfone
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Anthony C. Scarfone
Attorney-in-Fact</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->II-4<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Anthony C. Scarfone.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Anthony C. Scarfone (included in Exhibit&nbsp;5.1).</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of PricewaterhouseCoopers LLP.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->II-5<!-- /Folio -->
</DIV>

</BODY>
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sv8
Table of Contents
Registration No. 333-______
As filed with the Securities and Exchange Commission on May 6, 2008
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933
DELUXE CORPORATION
(Exact name of registrant as specified in its charter)
Minnesota
(State or other jurisdiction
of incorporation or organization)
41-0216800
(I.R.S. Employer
Identification No.)
3680 Victoria St. N.
Shoreview, Minnesota 55126
(Address of principal executive offices,
including zip code)
DELUXE CORPORATION 2008 STOCK INCENTIVE PLAN
(Full title of the plan)
Anthony C. Scarfone
Copy to:
Senior Vice President, General Counsel and Secretary
Deluxe Corporation D
3680 Victoria St. N. 5
Shoreview, Minnesota 55126 M
(651) 483-7122
Robert A. Rosenbaum
orsey & Whitney LLP
0 South Sixth Street, Suite 1500
inneapolis, MN 55042
(612) 340-5681
(Name, address and telephone number,
including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Title of securities to be
Amount
offering price per
aggregate offering
Amount of
registered
to be registered(1)
share(2)
price(2)
registration fee
Common Stock,
par value $1.00 per share(3)
4,000,000 shares
$21.35
$85,400,000
$3,356.22
(1)
Pursuant to Rule 416 under the Securities Act of 1933, as amended, this registration
statement also covers any additional shares of common stock that become issuable under the
Deluxe Corporation 2008 Stock Incentive Plan pursuant to its antidilution provisions.
(2)
Estimated solely for the purpose of calculating the registration fee in accordance with Rule
457(h)(1) and (c) under the Securities Act of 1933, as amended. The proposed maximum offering
price is based on the average of the high and low prices of Deluxe Corporation common stock as
reported on the New York Stock Exchange on April 30, 2008.
(3)
Includes corresponding rights to acquire shares of Deluxe Corporation common stock pursuant to
the Amended and Restated Rights Agreement, dated as of December 20, 2006, by and between the
Company and Wells Fargo Bank, National Association.
TABLE OF CONTENTS
PART II
Item 3. Incorporation of Documents by Reference.
Item 4. Description of Securities.
Item 5. Interests of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption from Registration Claimed.
Item 8. Exhibits.
Item 9. Undertakings.
SIGNATURES
EXHIBIT INDEX
Opinion of Anthony C. Scarfone
Consent of PricewaterhouseCoopers LLP
Power of Attorney
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents have been filed with the Securities and Exchange Commission (the
"SEC") by Deluxe Corporation ("Deluxe" or the "Company"), are incorporated by reference in this
registration statement:
(a)
the Company's Annual Report on Form 10-K for the year ended December 31, 2007;
(b)
the Company's Current Report on Form 10-Q filed with the SEC on May 1, 2008;
and
(c)
The description of the Company's common stock and preferred stock purchase
rights contained in any registration statement or report filed by the Company under
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including any
amendment or report filed for the purpose of updating such description.
All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act subsequent to the date hereof and prior to the filing of a post-effective amendment
which indicates that all securities offered hereby have been sold or which deregisters all
securities remaining unsold shall be deemed to be incorporated by reference herein and to be a part
hereof from the respective dates of filing of such documents.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Anthony C. Scarfone, who is providing an opinion of counsel with respect to the securities to
which this Registration Statement on Form S-8 relates, is an employee and officer (Senior Vice
President, General Counsel and Secretary) of the Company. As of May 6, 2008, Mr. Scarfone owned
stock options to purchase 194,025 shares of Deluxe's common stock, all of which were awarded to him
in his capacity as an employee of the Company, and 127,925 of which are currently exercisable. Mr.
Scarfone also owns 35,758 shares of the Company's common stock, and 3,668 restricted stock units
that will be converted into shares of the Company's common stock in 2010, provided he remains in
the employ of the Company. Mr. Scarfone is eligible to receive awards under the Deluxe Corporation
2008 Stock Incentive Plan.
Item 6. Indemnification of Directors and Officers.
Section 302A.521, subd. 2, of the Minnesota Business Corporation Act (the "MBCA") requires
Deluxe to indemnify a person made or threatened to be made a party to a proceeding by reason of the
former or present official capacity of the person with respect to Deluxe against judgments,
penalties, fines, including, without limitation, excise taxes assessed against the person with
respect to an employee benefit plan, settlements and reasonable expenses, including attorneys' fees
and disbursements, incurred by the person in connection with the proceeding (collectively,
"Losses") if, with respect to the same acts or omissions, such person: (1) has not been indemnified
by another organization or employee benefit plan for the same Losses; (2) acted in good faith; (3)
received no improper personal benefit, and statutory procedures have been followed in the case of
any conflict of interest by a director; (4) in the case of a criminal proceeding, had no reasonable
cause to believe the conduct was unlawful; and (5) in the case of acts or omissions occurring in
the person's official capacity as director, officer, member of a committee of the board or
employee, reasonably believed that the conduct was in the best interests of the corporation, or in
the case of acts or omissions occurring in a director's, officer's or employee's capacity as a
director, officer, partner, trustee, employee or agent of another organization or employee benefit
plan, reasonably believed that the conduct was not opposed to the best interests of the
corporation.
II-1
Table of Contents
Article XII of Deluxe's Amended Articles of Incorporation provides that no director of Deluxe
shall be personally liable to Deluxe or its shareholders for monetary damages for breach of
fiduciary duty by such director as a director. Article XII does not, however, limit or eliminate
the liability of a director to the extent provided by applicable law for (i) any breach of the
director's duty of loyalty to Deluxe or its shareholders, (ii) acts or omissions not in good faith
or which involve intentional misconduct or a knowing violation of law, (iii) authorizing a
dividend, stock repurchase or redemption or other distribution in violation of Minnesota law or for
violation of certain provisions of Minnesota securities laws or (iv) any transaction from which the
director derived an improper personal benefit.
The Bylaws of Deluxe provide that Deluxe shall indemnify such persons for expenses and
liabilities, in such manner, under such circumstances and to such extent as permitted by the
provisions of the Minnesota Statutes relating to indemnification of directors, officers and
employees of Minnesota corporations.
Deluxe maintains an insurance policy or policies to assist in funding the indemnification of
directors and officers for certain liabilities.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
4.1
Articles of Incorporation (incorporated by reference to the Annual
Report on Form 10-K for the year ended December 31, 1990).
4.2
Bylaws (incorporated by reference to Exhibit 3.2 to the Quarterly
Report on Form 10-Q for the quarter ended June 30, 2006).
4.3
Amended and Restated Rights Agreement, dated as of December 20, 2006,
by and between the Company and Wells Fargo Bank, National
Association, as Rights Agent, which includes as Exhibit A thereto,
the Form of Rights Certificate (incorporated by reference to Exhibit
4.1 to the Current Report on Form 8-K filed with the Commission on
December 21, 2006).
5.1
Opinion of Anthony C. Scarfone.
23.1
Consent of Anthony C. Scarfone (included in Exhibit 5.1).
23.2
Consent of PricewaterhouseCoopers LLP.
24.1
Power of Attorney.
Item 9. Undertakings.
(a)
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities
Act of 1933, as amended (the "Securities Act");
(ii)
To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the
registration statement. Notwithstanding the foregoing, any increase or
decrease in volume of
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securities offered (if the total dollar value of securities
offered would not exceed that which was registered) and any deviation from the low
or high end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee" table in
the effective registration statement; and
(iii)
To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement;
provided
,
however,
that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the SEC by the registrant pursuant to
Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the
registration statement.
(2)
That, for the purpose of determining any liability under the Securities Act, each
such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial
bona fide
offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the registrant's annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC
such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than
the payment by the registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Shoreview, State of Minnesota, on May 6,
2008.
DELUXE CORPORATION
By:
/s/ Lee J. Schram
Lee J. Schram
Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration
statement has been signed by the following persons in the capacities indicated on May 6, 2008.
Signature
Title
/s/ Lee J. Schram
Lee J. Schram
Chief Executive Officer and Director
(Principal Executive Officer)
/s/ Richard S. Greene
Richard S. Greene
Senior Vice President, Chief Financial Officer
(Principal Financial Officer)
/s/ Terry D. Peterson
Terry D. Peterson
Vice President, Investor Relations and Chief
Accounting Officer
(Principal Accounting Officer)
/s/ *
Ronald C. Baldwin
Director
/s/ *
Charles A. Haggerty
Director
/s/ *
Isaiah Harris, Jr.
Director
/s/ *
Don J. McGrath
Director
/s/ *
Cheryl E. Mayberry McKissack
Director
/s/ *
Neil J. Metviner
Director
/s/ *
Stephen P. Nachtsheim
Director
/s/ *
Mary Ann O'Dwyer
Director
/s/ *
Martyn R. Redgrave
Director
*By:
/s/ Anthony C. Scarfone
Anthony C. Scarfone
Attorney-in-Fact
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EXHIBIT INDEX
Exhibit
Number
Description
5.1
Opinion of Anthony C. Scarfone.
23.1
Consent of Anthony C. Scarfone (included in Exhibit 5.1).
23.2
Consent of PricewaterhouseCoopers LLP.
24.1
Power of Attorney.
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