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  			8-K PAYX 112318
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  			<a name="_GoBack"></a><font style="display: inline;font-weight:bold;font-size:18pt;">UNITED STATES</font>
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  			<font style="display: inline;font-weight:bold;font-size:18pt;">SECURITIES AND EXCHANGE COMMISSION</font>
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  			<font style="display: inline;font-weight:bold;font-size:12pt;">Washington, DC 20549</font>
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  			<font style="display: inline;font-weight:bold;font-size:18pt;">FORM 8-K</font>
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  			<font style="display: inline;font-weight:bold;font-size:14pt;">CURRENT REPORT</font>
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  			<font style="display: inline;font-weight:bold;font-size:12pt;">Pursuant t</font><font style="display: inline;font-weight:bold;font-size:12pt;">o Section&nbsp;13 or 15(d) of the</font>
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  			<font style="display: inline;font-weight:bold;font-size:12pt;">Securities Exchange Act of 1934</font>
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  			<font style="display: inline;font-weight:bold;font-size:12pt;">Date of Report: </font><font style="display: inline;font-weight:bold;font-size:12pt;">November</font><font style="display: inline;">&nbsp;</font><font style="display: inline;font-weight:bold;font-size:12pt;">26</font><font style="display: inline;font-weight:bold;font-size:12pt;">, 2018 </font>
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  			<font style="display: inline;font-weight:bold;font-size:12pt;">(Date of earliest event reported)</font>
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  			<font style="display: inline;font-weight:bold;font-size:24pt;">PAYCHEX,&nbsp;INC.</font>
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  			<font style="display: inline;font-weight:bold;">(Exact name of registrant as specified in its charter)</font>
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  						<font style="display: inline;font-weight:bold;color:#000000;">DELAWARE</font></p>
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  						<font style="display: inline;font-weight:bold;color:#000000;">0-11330</font></p>
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  						<font style="display: inline;font-weight:bold;color:#000000;">16-1124166</font></p>
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  						<font style="display: inline;font-weight:bold;font-size:8pt;">(State or other jurisdiction</font></p>
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  						<font style="display: inline;font-weight:bold;font-size:8pt;">of incorporation)</font></p>
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  						<font style="display: inline;font-weight:bold;font-size:8pt;">(Commission</font></p>
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  						<font style="display: inline;font-weight:bold;font-size:8pt;">File Number)</font></p>
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  						<font style="display: inline;font-weight:bold;font-size:8pt;">(IRS Employer</font></p>
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  						<font style="display: inline;font-weight:bold;font-size:8pt;">Identification Number)</font></p>
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  						<font style="display: inline;font-weight:bold;">911 PANORAMA TRAIL SOUTH,</font></p>
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  						<font style="display: inline;font-weight:bold;">ROCHESTER, NEW YORK</font></p>
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  						<font style="display: inline;font-weight:bold;color:#000000;">14625-2396</font></p>
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  			<font style="display: inline;font-weight:bold;">(585) 385-6666</font>
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  			<font style="display: inline;font-weight:bold;font-size:8pt;">(Registrant&#x2019;s telephone number, including area code)</font>
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  			<font style="display: inline;font-weight:bold;">N/A</font>
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  			<font style="display: inline;font-weight:bold;font-size:8pt;">(Former name or former address, if changed since last report.)</font>
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  			<font style="display: inline;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font>
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  						<font style="display: inline;color:#000000;">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font></p>
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  						<font style="display: inline;color:#000000;">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
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  						<font style="display: inline;color:#000000;">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
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  						<font style="display: inline;color:#000000;">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
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  			<font style="display: inline;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (</font><font style="display: inline;">&#xA7;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#xA7;240.12b-2 of this chapter).</font>
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  			<font style="display: inline;">Emerging growth company&nbsp;&nbsp;&nbsp;</font><font style="display: inline;color:#000000;">&#x2610;</font>
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  			<font style="display: inline;">If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;&nbsp;</font><font style="display: inline;color:#000000;">&#x2610;</font>
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  			<font style="display: inline;font-weight:bold;color:#000000;">ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</font>
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  			<font style="display: inline;color:#000000;">On </font><font style="display: inline;color:#000000;">November 23, 20</font><font style="display: inline;color:#000000;">18</font><font style="display: inline;color:#000000;">,</font><font style="display: inline;color:#000000;"> Paychex, Inc.</font><font style="display: inline;color:#000000;">, a Delaware corporation</font><font style="display: inline;color:#000000;"> (the &#x201C;Company</font><font style="display: inline;color:#000000;">&#x201D;</font><font style="display: inline;color:#000000;"> or &#x201C;Paychex&#x201D;</font><font style="display: inline;color:#000000;">) entered into a Stock Purchase Agreement </font><font style="display: inline;color:#000000;">(the &#x201C;Agreement&#x201D;) </font><font style="display: inline;color:#000000;">by and among </font><font style="display: inline;color:#000000;">Oasis Outsourcing Acquisition Corporation</font><font style="display: inline;color:#000000;">, a Delaware corporation</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">(&#x201C;Oasis&#x201D;)</font><font style="display: inline;color:#000000;">,</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">Oasis Outsourcing Group Holdin</font><font style="display: inline;color:#000000;">gs, L.P</font><font style="display: inline;color:#000000;">.</font><font style="display: inline;color:#000000;">, a Delaware limited partnership</font><font style="display: inline;color:#000000;"> &nbsp;(</font><font style="display: inline;color:#000000;">the </font><font style="display: inline;color:#000000;">&#x201C;</font><font style="display: inline;color:#000000;">Seller</font><font style="display: inline;color:#000000;">&#x201D;)</font><font style="display: inline;color:#000000;">, and Paychex North America Inc., a Delaware corporation and wholly-owned subsidiary of the Company (&#x201C;Buyer&#x201D;).</font><font style="display: inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display: inline;color:#000000;">Upon the terms and s</font><font style="display: inline;color:#000000;">ubject to the conditions set forth </font><font style="display: inline;color:#000000;">in the A</font><font style="display: inline;color:#000000;">greement</font><font style="display: inline;color:#000000;">, &nbsp;</font><font style="display: inline;color:#000000;">Buyer</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">wil</font><font style="display: inline;color:#000000;">l purchase </font><font style="display: inline;color:#000000;">from the Seller </font><font style="display: inline;color:#000000;">all of the issued and outstanding </font><font style="display: inline;color:#000000;">capital</font><font style="display: inline;color:#000000;"> stock of Oasis</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">(the &#x201C;Acquisition&#x201D;)</font><font style="display: inline;color:#000000;">.</font><font style="display: inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display: inline;color:#000000;">The Company has guaranteed the obligations of </font><font style="display: inline;color:#000000;">B</font><font style="display: inline;color:#000000;">uyer under the Agreement.</font>
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  			<font style="display: inline;color:#000000;">The cash consideration payable upon closing of the Acquisition is approximately $1.2 billion, subject to a net financial position adjustment and certain other purchase price adjustments specified in the Agreement, and is expected to be financed through a combination of cash on Paychex&#x2019;s balance sheet and borrowings</font><font style="display: inline;color:#000000;"> under existing credit facilities or new debt</font><font style="display: inline;color:#000000;">.</font><font style="display: inline;color:#000000;"> &nbsp; &nbsp;</font>
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  			<font style="display: inline;color:#000000;">The Agreement contains customary representations and warranties</font><font style="display: inline;color:#000000;"> and covenants</font><font style="display: inline;color:#000000;">, and the consummation of the Acquisition is subject </font><font style="display: inline;color:#000000;">to customary closing conditions,</font><font style="display: inline;color:#000000;"> including </font><font style="display: inline;color:#000000;">(i) the expiration or termination of the waiting period under the Hart-Scott-Rodino </font><font style="display: inline;color:#000000;">Anti-Trust Improvements Act of 1976, as amended</font><font style="display: inline;color:#000000;">,</font><font style="display: inline;color:#000000;"> and any other regulatory approvals required</font><font style="display: inline;color:#000000;">;</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">&nbsp;(ii)&nbsp;the absence of any governmental order or law prohibiting the consummation of the Acquisition; (iii)&nbsp;the accuracy of representations and warranties of the parties</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> (subject to certain materiality and material adverse effect qualifications)</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">; &nbsp;</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">(iv) compliance by each of the parties in all material respects with all of their respective covenants; </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">and </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">(v) the non-occurrence of any event having a </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">material adverse effect </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">(as defined in the Agreement) </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">with respect to Oasis and its subsidiaries</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> taken as a whole</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> since the date of the Agreement.</font><font style="display: inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display: inline;color:#000000;">The Acquisition is expected to close during the </font><font style="display: inline;color:#000000;">Company&#x2019;s </font><font style="display: inline;color:#000000;">third fiscal </font><font style="display: inline;color:#000000;">quarter ended February 28, 2019.</font><font style="display: inline;color:#000000;font-size:5pt;vertical-align:super;line-height:100%">1</font>
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  			<font style="display: inline;color:#000000;background-color: #FFFFFF;">Each of Oasis and Seller have</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> agreed, among other things, subject to certain exceptions, to conduct </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">the Oasis</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> business</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">es</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> in the ordinary course during the period between the execution of the </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">Agreement and the closing of the Acquisition</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">. &nbsp;</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">Oasis and Seller</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> are each subject to restrictions on their ability to solicit</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">&nbsp;</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">alternative acquisition proposals and to provide information to, and engage in discussion with, or approve or recommend an alternative acquisition proposal with third parties regarding such proposals during the period between the execution of the Agreement </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">and the closing of the Acquisition</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">. Subject to certain exceptions, each of the parties has agreed to</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> cooperate with the other and to</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> use its reasonable best efforts to </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">obtain required government approvals </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">and to cooperate, as provided in the Agreement, to obtain the </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">certain </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">other consents and approvals required</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> to consummate the </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">Acquisition</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">.</font>
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  			<font style="display: inline;color:#000000;background-color: #FFFFFF;">The Agreement provides that the Seller and the Company may mutually agree to terminate the Agreement before completing the Acquisition. In addition, either party may decide to terminate the Agreement if: (i)&nbsp;the Acq</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">uisition is not consummated by </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">February 21</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">, 2019</font><font style="display: inline;color:#000000;background-color: #FFFFFF;font-size:5pt;vertical-align:super;line-height:100%">2</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">, subject to possible extension under circumstances described in the Agreement; (ii)&nbsp;a court or other governmental entity issues a final,&nbsp;non-appealable&nbsp;order permanently prohibiting the </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">Acquisition</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">; &nbsp;</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">or </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">(iii)&nbsp;the other party breaches its representations</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">,</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> warranties or covenants in a way that would entitle the </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">non-breaching </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">party seeking to terminate the Agreement not to consummate the </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">Acquisition</font><font style="display: inline;color:#000000;background-color: #FFFFFF;">, subject to the right of the breaching party to cure the breach within 30 days.</font>
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  			<font style="display: inline;color:#000000;">The representations, warranties and covenants of the parties contained in the Agreement have been made solely for the benefit of the parties thereto</font><font style="display: inline;color:#000000;"> and may be subject to qualifications in confidential disclosures made by the Seller, and should not be relied upon by any person not a party to the Agreement</font><font style="display: inline;color:#000000;">.</font>
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  			<font style="display: inline;font-weight:bold;color:#000000;">&nbsp;</font>
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  			<font style="display: inline;color:#000000;">The foregoing description of the terms and conditions of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of t</font><font style="display: inline;color:#000000;">he Agreement. </font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">Paychex</font><font style="display: inline;color:#000000;"> expects to file a copy of the </font><font style="display: inline;color:#000000;">Stock </font><font style="display: inline;color:#000000;">Purchase Agreement with its </font><font style="display: inline;color:#000000;">Quarterly Report on Form 10-Q</font><font style="display: inline;color:#000000;"> for the </font><font style="display: inline;color:#000000;">fiscal quarter</font><font style="display: inline;color:#000000;"> end</font><font style="display: inline;color:#000000;">ing November 30</font><font style="display: inline;color:#000000;">, 2018.</font><font style="display: inline;color:#000000;"> &nbsp; &nbsp;</font>
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  			<font style="display: inline;font-weight:bold;color:#000000;">ITEM 7.01 REGULATION FD DISCLOSURE</font>
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  			<font style="display: inline;color:#000000;">On November 26, 2018, the Company issued a press release announcing the execution of the Agreement.&nbsp;&nbsp;A copy of the press release regarding the transaction is attached hereto as Exhibit 99.</font><font style="display: inline;color:#000000;">1</font><font style="display: inline;color:#000000;"> and is incorporated herein by reference.</font>
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  			<font style="display: inline;color:#000000;">The information in this Item 7.01 of th</font><font style="display: inline;color:#000000;">e Current Report on</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">Form 8-K, including the infor</font><font style="display: inline;color:#000000;">mation contained in Exhibit 99.1</font><font style="display: inline;color:#000000;">, is being &#x201C;furnished&#x201D;, not &#x201C;filed,&#x201D; for pur</font><font style="display: inline;color:#000000;">poses of </font><font style="display: inline;color:#000000;">the </font><font style="display: inline;color:#000000;">Securities </font><font style="display: inline;color:#000000;">Exchange Act</font><font style="display: inline;color:#000000;"> of 1934, as amended</font><font style="display: inline;color:#000000;">.</font>
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  			<font style="display: inline;color:#000000;font-size:5pt;vertical-align:super;line-height:100%">1</font><font style="display: inline;"> NTD:&nbsp;&nbsp;The expectation is to close as soon as possible, but we have an outside date (90 days from signing).&nbsp; </font>
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  			<font style="display: inline;color:#000000;background-color: #FFFFFF;font-size:5pt;vertical-align:super;line-height:100%">2</font><font style="display: inline;"> NTD:&nbsp;&nbsp;This date </font><font style="display: inline;">is</font><font style="display: inline;"> 90 days from the date of the Agreement.</font>
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  		<p style="margin:0pt;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;font-weight:bold;color:#000000;">ITEM&nbsp;9.01 FINANCIAL STATEMENTS AND EXHIBITS</font>
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  						<a href="payx-20181126xex99_1.htm" style="-sec-extract:exhibit"><font style="display: inline;">Press Release of Paychex, Inc. dated November 26, 2018</font></a><font style="display: inline;">.</font></p>
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  			<font style="display: inline;font-weight:bold;">SIGNATURES</font>
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  			<font style="display: inline;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</font>
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  						<font style="display: inline;font-weight:bold;color:#000000;">PAYCHEX,&nbsp;INC.</font></p>
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  						<font style="display: inline;color:#000000;">Senior&nbsp;Vice&nbsp;President,&nbsp;Chief&nbsp;Financial&nbsp;Officer,&nbsp;and&nbsp;Treasurer</font></p>
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "payx-20181126x8k.htm", "description": "8-K", "secsgml_size_bytes": 51373}]
metadata_filer: {"company-data": {"conformed-name": "PAYCHEX INC", "cik": "0000723531", "assigned-sic": "8700", "irs-number": "161124166", "state-of-incorporation": "DE", "fiscal-year-end": "0531"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-11330", "film-number": "181200033"}, "business-address": {"street1": "911 PANORAMA TRAIL S", "city": "ROCHESTER", "state": "NY", "zip": "14625-0397", "phone": "5853856666"}, "mail-address": {"street1": "911 PANORAMA TRAIL SOUTH", "city": "ROCHESTER", "state": "NY", "zip": "14625-0397"}}
text: 8-K PAYX 112318
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, DC 20549
  ﻿
  FORM 8-K
  ﻿
  CURRENT REPORT
  ﻿
  Pursuant t
  o Section 13 or 15(d) of the
  Securities Exchange Act of 1934
  ﻿
  Date of Report:
  November
  26
  , 2018
  (Date of earliest event reported)
  ﻿
  PAYCHEX, INC.
  (Exact name of registrant as specified in its charter)
  ﻿
  DELAWARE
  0-11330
  16-1124166
  (State or other jurisdiction
  of incorporation)
  (Commission
  File Number)
  (IRS Employer
  Identification Number)
  ﻿
  ﻿
  911 PANORAMA TRAIL SOUTH,
  ROCHESTER, NEW YORK
  14625-2396
  (Address of principal executive offices)
  (Zip Code)
  ﻿
  (585) 385-6666
  (Registrant's telephone number, including area code)
  ﻿
  N/A
  (Former name or former address, if changed since last report.)
  ﻿
  Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
  ﻿
  ﻿
  ☐
  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  ☐
  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  ☐
  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  ☐
  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  ﻿
  Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (
  §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
  ﻿
  Emerging growth company
  ☐
  ﻿
  If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
  ☐
  ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
  ﻿
  On
  November 23, 20
  18
  ,
  Paychex, Inc.
  , a Delaware corporation
  (the "Company
  "
  or "Paychex"
  ) entered into a Stock Purchase Agreement
  (the "Agreement")
  by and among
  Oasis Outsourcing Acquisition Corporation
  , a Delaware corporation
  ("Oasis")
  ,
  Oasis Outsourcing Group Holdin
  gs, L.P
  .
  , a Delaware limited partnership
  (
  the
  "
  Seller
  ")
  , and Paychex North America Inc., a Delaware corporation and wholly-owned subsidiary of the Company ("Buyer").
  Upon the terms and s
  ubject to the conditions set forth
  in the A
  greement
  ,
  Buyer
  wil
  l purchase
  from the Seller
  all of the issued and outstanding
  capital
  stock of Oasis
  (the "Acquisition")
  .
  The Company has guaranteed the obligations of
  B
  uyer under the Agreement.
  ﻿
  The cash consideration payable upon closing of the Acquisition is approximately $1.2 billion, subject to a net financial position adjustment and certain other purchase price adjustments specified in the Agreement, and is expected to be financed through a combination of cash on Paychex's balance sheet and borrowings
  under existing credit facilities or new debt
  .
  ﻿
  The Agreement contains customary representations and warranties
  and covenants
  , and the consummation of the Acquisition is subject
  to customary closing conditions,
  including
  (i) the expiration or termination of the waiting period under the Hart-Scott-Rodino
  Anti-Trust Improvements Act of 1976, as amended
  ,
  and any other regulatory approvals required
  ;
  (ii) the absence of any governmental order or law prohibiting the consummation of the Acquisition; (iii) the accuracy of representations and warranties of the parties
  (subject to certain materiality and material adverse effect qualifications)
  ;
  (iv) compliance by each of the parties in all material respects with all of their respective covenants;
  and
  (v) the non-occurrence of any event having a
  material adverse effect
  (as defined in the Agreement)
  with respect to Oasis and its subsidiaries
  taken as a whole
  since the date of the Agreement.
  The Acquisition is expected to close during the
  Company's
  third fiscal
  quarter ended February 28, 2019.
  1
  ﻿
  Each of Oasis and Seller have
  agreed, among other things, subject to certain exceptions, to conduct
  the Oasis
  business
  es
  in the ordinary course during the period between the execution of the
  Agreement and the closing of the Acquisition
  .
  Oasis and Seller
  are each subject to restrictions on their ability to solicit
  alternative acquisition proposals and to provide information to, and engage in discussion with, or approve or recommend an alternative acquisition proposal with third parties regarding such proposals during the period between the execution of the Agreement
  and the closing of the Acquisition
  . Subject to certain exceptions, each of the parties has agreed to
  cooperate with the other and to
  use its reasonable best efforts to
  obtain required government approvals
  and to cooperate, as provided in the Agreement, to obtain the
  certain
  other consents and approvals required
  to consummate the
  Acquisition
  .
  ﻿
  The Agreement provides that the Seller and the Company may mutually agree to terminate the Agreement before completing the Acquisition. In addition, either party may decide to terminate the Agreement if: (i) the Acq
  uisition is not consummated by
  February 21
  , 2019
  2
  , subject to possible extension under circumstances described in the Agreement; (ii) a court or other governmental entity issues a final, non-appealable order permanently prohibiting the
  Acquisition
  ;
  or
  (iii) the other party breaches its representations
  ,
  warranties or covenants in a way that would entitle the
  non-breaching
  party seeking to terminate the Agreement not to consummate the
  Acquisition
  , subject to the right of the breaching party to cure the breach within 30 days.
  ﻿
  The representations, warranties and covenants of the parties contained in the Agreement have been made solely for the benefit of the parties thereto
  and may be subject to qualifications in confidential disclosures made by the Seller, and should not be relied upon by any person not a party to the Agreement
  .
  The foregoing description of the terms and conditions of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of t
  he Agreement.
  Paychex
  expects to file a copy of the
  Stock
  Purchase Agreement with its
  Quarterly Report on Form 10-Q
  for the
  fiscal quarter
  end
  ing November 30
  , 2018.
  ﻿
  ﻿
  ITEM 7.01 REGULATION FD DISCLOSURE
  ﻿
  On November 26, 2018, the Company issued a press release announcing the execution of the Agreement.  A copy of the press release regarding the transaction is attached hereto as Exhibit 99.
  1
  and is incorporated herein by reference.
  ﻿
  The information in this Item 7.01 of th
  e Current Report on
  Form 8-K, including the infor
  mation contained in Exhibit 99.1
  , is being "furnished", not "filed," for pur
  poses of
  the
  Securities
  Exchange Act
  of 1934, as amended
  .
  ﻿
  ﻿
  ﻿
  ﻿
  ﻿
  1
  NTD:  The expectation is to close as soon as possible, but we have an outside date (90 days from signing).
  2
  NTD:  This date
  is
  90 days from the date of the Agreement.
  ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
  ﻿
  ﻿
  Exhibit
  Description
  Location
  Exhibit 99.1
  Press Release of Paychex, Inc. dated November 26, 2018
  .
  Furnished herewith.
  ﻿
  SIGNATURES
  ﻿
  Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
  ﻿
  ﻿
  ﻿
  PAYCHEX, INC.
  Date:
  November
  2
  6
  , 2018
  /s/ Martin Mucci
  ﻿
  Martin Mucci
  ﻿
  President and Chief Executive Officer
  Date:
  November
  2
  6
  , 2018
  /s/ Efrain Rivera
  ﻿
  Efrain Rivera
  ﻿
  Senior Vice President, Chief Financial Officer, and Treasurer
  ﻿