FORM 10-Q/A
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Quarterly Report Under Section 13 or 15(d) of
the Securities Exchange Act of 1934
(Mark One)
(x) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended August 31, 1996
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OR
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
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For Quarter Ended August 31, 1996 Commission file number 0-11330
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PAYCHEX, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 16-1124166
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
911 PANORAMA TRAIL SOUTH, ROCHESTER, NEW YORK 14625-0397
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(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code) (716)385-6666
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(Former name, former address and former fiscal year, if
changed since last report.)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. YES x . NO .
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CLASS OUTSTANDING AT AUGUST 31,1996
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(Common Stock, $.01 Par Value) (71,632,456 Shares)
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Part II - Other Information
Paychex, Inc. and Subsidiaries
Item 1. Legal Proceedings
On October 14, 1996, RADC Corporation (RADC) served a summons and complaint
against Paychex, Inc. (Paychex) in the Illinois circuit Court for the 18th
Judicial District, DuPage County. RADC is a motor transport company which
contracted to deliver payrolls to Paychex' clients at an agreed upon price in
the Greater Chicago area. Paychex terminated the relationship in February,
1996. Subsequently, RADC claimed that its delivery rates charged for Paychex'
shipments were governed by tariffs filed with the Illinois Commerce
Commission. RADC alleges that, although it received the price agreed upon,
Paychex owes it the difference between the allegedly applicable tariff rates
and the amounts previously invoiced by RADC and paid timely by Paychex.
Originally RADC demanded approximately $2.5 million for the last three years.
When Paychex refused, RADC filed this action claiming an aggregate of
approximately $23 million for the past 15 years. Paychex believes the claim
is totally without merit and intends to move to dismiss the case.
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SIGNATURES
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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. AND SUBSIDIARIES
DATE: OCTOBER 30, 1996 /s/ B. THOMAS GOLISANO
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B. THOMAS GOLISANO
CHAIRMAN, PRESIDENT AND CHIEF
EXECUTIVE OFFICER
DATE: OCTOBER 30, 1996 /s/ JOHN M. MORPHY
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JOHN MORPHY
CHIEF FINANCIAL OFFICER
AND SECRETARY
