Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 2, 2023, Christopher L. Thomas, Senior Vice President, Chief Revenue Officer ("CRO") of Deluxe Corporation (the "Company"), entered into a Separation Agreement with the Company providing for the transition out of the role of CRO and into the role of a Special Advisor to the Company's Chief Executive Officer, effective January 6, 2023. Mr. Thomas will serve as Special Advisor during a transition period until Mr. Thomas' separation from the Company on April 28, 2023 (the "Separation Date"). In accordance with the terms of the Separation Agreement, Mr. Thomas' compensation and benefits will continue during the transition period as in effect on December 1, 2022. The Separation Agreement provides for the release of claims by Mr. Thomas as of the date of the Separation Agreement and a second release following the Separation Date (the "Second Release").

In connection with his separation, Mr. Thomas will also be entitled to receive severance payments in accordance with the Company's Severance Plan for Certain Executive Level Employees (the "Executive Severance Plan"), subject to his providing the Second Release. Pursuant to the terms of the Executive Severance Plan, following the Separation Date, Mr. Thomas will be entitled to receive: (i) a severance payment equal to twelve months of his base salary, (ii) a cash bonus equal to one-third of his target bonus for fiscal year 2023 and (iii) a one-time payment of $45,000. He is also required to comply with the post-employment restrictions and the other terms of an existing confidentiality agreement and non-competition agreement. Mr. Thomas' outstanding equity awards will be handled in accordance with the applicable terms of the Company's related plans and awards, copies of which have been previously filed with the Securities and Exchange Commission. Mr. Thomas will also receive his fiscal year 2022 cash bonus and any payment under the retention agreement into which Mr. Thomas previously entered with the Company. Each of these payments will be made in the spring of 2023, prior to the Separation Date.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.
      Exhibit
      Number                                            Description
      101.INS             XBRL Instance Document - the instance document does not appear in the
                          Interactive Data File because its XBRL tags are embedded within the
                          Inline XBRL document
      101.SCH             XBRL Taxonomy Extension Schema Document
      101.LAB             XBRL Taxonomy Extension Label Linkbase Document
      101.PRE             XBRL Taxonomy Extension Presentation Linkbase Document
        104               Cover page interactive data file (formatted as Inline XBRL and contained
                          in Exhibit 101)




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