8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 25, 2006

DELUXE CORPORATION

(Exact name of registrant as specified in its charter)

Minnesota	1-7945	41-0216800
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

3680 Victoria St. North, Shoreview, Minnesota	55126-2966
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (651) 483-7111

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:

o   Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 1 – Registrant’s Business and Operations

Item 1.01    Entry into a Material Definitive Agreement.

At a regularly scheduled meeting held on October 25, 2006, the Deluxe Corporation Board of Directors approved grants of 2,271 shares of restricted stock to each of its eight non-employee directors. These grants are governed by award agreements in the form attached as exhibit 10.1 to this Form 8-K.

Section 9 – Financial Statements and Exhibits

Item 9.01    Financial Statements and Exhibits.

(d)    Exhibits

10.1 Form of Agreement as to Award of Restricted Common Stock (Non-Employee Director Grants).            

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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 hereunto duly authorized.

Date: October 27, 2006

DELUXE CORPORATION

/s/   Anthony C. Scarfone

Anthony C. Scarfone

Senior Vice President,

General Counsel and Secretary

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INDEX TO EXHIBITS

Exhibits

10.1 Form of Agreement as to Award of Restricted Common Stock (Non-Employee Director Grants)

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EX-10.1

Exhibit 10.1

DELUXE
CORPORATION
AGREEMENT AS TO AWARD OF RESTRICTED COMMON STOCK
(Non-Employee Director Grants)

AWARDED TO
AWARD DATE NUMBER OF RESTRICTED SHARES MARKET PRICE ON DATE OF AWARD

AWARD

Deluxe Corporation hereby awards to you the above stated number of restricted shares of its common stock, $1.00 par value per share.

RESTRICTIONS

This Award will be revoked, and the restricted shares subject hereto will be forfeited to Deluxe, if you cease to serve as a Director of Deluxe for any reason other than your mandatory retirement prior to the lapse of the restrictions applicable to your shares. In the event of your mandatory retirement as a Director, all of the shares of restricted stock awarded hereunder shall immediately vest in full. The restricted shares subject to this Award may not be sold, assigned, pledged or otherwise transferred prior to the lapse of the restrictions thereon.

LAPSE OF RESTRICTIONS

The restrictions on your shares will lapse on the one year anniversary succeeding the Award Date, provided that you continue as a Director of Deluxe on that anniversary date.

ISSUANCE OF STATEMENTS

Upon the lapse of restrictions hereunder, shares of unrestricted common stock shall be credited to a book entry account maintained by Deluxe Corporation’s transfer agent on your behalf. A statement reflecting your ownership of such unrestricted shares will be issued to you. If you prefer to receive certificates representing unrestricted shares, such certificates will be issued upon written request to Deluxe Corporate Treasury.

TERMS AND CONDITIONS

You will receive dividends on your restricted shares during the period that the restrictions imposed by this Agreement are in effect and you will have the right to vote the shares subject hereto. This Award is issued pursuant to the Deluxe Corporation Stock Incentive Plan, as amended, (the “Plan”), and is subject to its terms. In the event of any conflict between the provisions of the Plan and this Award Agreement, the provisions of the Plan shall prevail.

DELUXE CORPORATION

By: _____________________________________

[Authorized Officer]

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