PAYCHEX INC

Ticker: PAYX CUSIP: 704326107 Class: COM

Verity & Verity, LLC's Holding History (CIK: 0001542108)

Note: Option positions (PUT/CALL) are excluded.

Q4 2013

Shares 73,332 Value ($000) $3,338 Avg Close $29.42 Range $26.88 - $31.75

Q3 2013

Shares 79,388 Value ($000) $3,226 Avg Close $27.01 Range $24.67 - $28.27

Q2 2013

Shares 76,746 Value ($000) $2,802 Avg Close $25.02 Range $23.54 - $26.26

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2013	73,332	$3,338	$29.42	$26.88 - $31.75
Q3 2013	79,388	$3,226	$27.01	$24.67 - $28.27
Q2 2013	76,746	$2,802	$25.02	$23.54 - $26.26