PAYCHEX INC — Director's Dealing 2010

Jul 8, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2010-07-06

Reporting Person: KUCHTA WILLIAM G (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-07-06	Common Stock	S	290	$25.16	Disposed	21920	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	757	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$42.688	2010-07-13	Common Stock (12000)	12000	Direct
Stock Option	$40.86	2011-07-12	Common Stock (8000)	8000	Direct
Stock Option	$28.14	2012-07-11	Common Stock (15000)	15000	Direct
Stock Option	$29.55	2013-07-10	Common Stock (8000)	8000	Direct
Stock Option	$31.79	2014-07-08	Common Stock (12000)	12000	Direct
Stock Option	$33.68	2015-07-07	Common Stock (25000)	25000	Direct
Stock Option	$36.87	2016-07-13	Common Stock (15000)	15000	Direct
Stock Option	$43.91	2017-07-17	Common Stock (15000)	15000	Direct
Stock Option	$31.95	2018-07-09	Common Stock (18391)	18391	Direct
Stock Option	$31.95	2018-07-09	Common Stock (5828)	5828	Direct
Stock Option	$24.21	2019-07-08	Common Stock (31647)	31647	Direct

Footnotes

F1: Disposition of shares to satisfy tax withholding obligations arising from lapse of restrictions applicable to award of restricted stock.