Document:

EX-4.2

 Exhibit 4.2 

BLOCK FINANCIAL LLC 

OFFICERS’ CERTIFICATE 

The undersigned, Gregory J. MacFarlane, President of Block Financial LLC, a Delaware limited liability company (f/k/a Block Financial
Corporation, the “Issuer”), and Joel L. Campbell, Vice President and Treasurer of the Issuer, do hereby certify that, pursuant to the Indenture, dated as of October 20, 1997 (the “Base Indenture”), among the
Issuer, H&R Block, Inc. (“Block”) and Deutsche Bank Trust Company Americas (f/k/a Bankers Trust Company) (“Deutsche Bank”), as supplemented by that certain Second Supplemental Indenture, dated as of the date
hereof, among the Issuer, Block, Deutsche Bank and U.S. Bank National Association, as separate trustee under the Indenture in respect of each series of debt securities of the Issuer being established hereby (together with the Base Indenture, the
“Indenture”), two series of debt securities of the Issuer are hereby established with the terms set forth below. Unless otherwise defined in this Officers’ Certificate (this “Certificate”), capitalized terms
used herein have the meanings given thereto in the Indenture. 
  

	(1)	The title of the two series of securities shall be the “4.125% Notes due 2020” (the “2020 Notes”) and the “5.250% Notes due 2025” (the “2025 Notes” and, together
with the 2020 Notes, the “Notes”). 

  

	(2)	U.S. Bank National Association has been appointed as the Trustee under the Indenture and as Registrar, Paying Agent, transfer agent and authenticating agent with respect to the Notes. 

 

	(3)	The aggregate principal amount of the 2020 Notes which may be initially authenticated and delivered under the Indenture shall be initially limited to a maximum of $650,000,000, subject to the right of the Issuer to
issue additional principal amount of the 2020 Notes at any time and from time to time in the future on the same terms and conditions (except for any differences in the issue price and interest accrued prior to the issue date of the additional 2020
Notes and with the same CUSIP number as the 2020 Notes issued hereby); provided that if such additional 2020 Notes are not fungible for U.S. federal income tax purposes with the original 2020 Notes, such additional 2020 Notes shall have a separate
CUSIP number. 

  

	(4)	The aggregate principal amount of the 2025 Notes which may be initially authenticated and delivered under the Indenture shall be initially limited to a maximum of $350,000,000, subject to the right of the Issuer to
issue additional principal amount of the 2025 Notes at any time and from time to time in the future on the same terms and conditions (except for any differences in the issue price and interest accrued prior to the issue date of the additional 2025
Notes and with the same CUSIP number as the 2025 Notes issued hereby); provided that such if additional 2025 Notes are not fungible for U.S. federal income tax purposes with the original 2025 Notes, such additional 2025 Notes shall have a separate
CUSIP number. 

  

	(5)	The Stated Maturity of the 2020 Notes is October 1, 2020. The Stated Maturity of the 2025 Notes is October 1, 2025. 

	(6)	Subject to paragraph 16 of this Certificate, the 2020 Notes shall bear interest at the rate of 4.125% per annum (the “2020 Original Interest Rate”), which interest shall accrue from
September 30, 2015, or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, on the 2020 Notes until their principal is paid. 

 

	(7)	Subject to paragraph 16 of this Certificate, the 2025 Notes shall bear interest at the rate of 5.250% per annum (the “2025 Original Interest Rate” and, together with the 2020 Original Interest
Rate, either, an “Original Interest Rate”), which interest shall accrue from September 30, 2015, or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, on the 2025
Notes until their principal is paid. 

  

	(8)	Interest on the Notes shall be payable semi-annually on April 1 and October 1 of each year (each, an “Interest Payment Date”), commencing on April 1, 2016 to Holders of record at the
close of business on the March 15 or September 15, respectively, next preceding each such Interest Payment Date, whether or not a Business Day. 

  

	(9)	The Issuer hereby designates as Places of Payment for the Notes (i) the principal corporate trust office of U.S. Bank National Association in St. Paul, Minnesota, or (ii) any other banking institution
hereafter selected by the officers of the Issuer. Such Place of Payment shall also be (a) where the Notes may be presented for registration of transfer or exchange, (b) where notices and demands to or upon the Issuer in respect of the
Notes or the Indenture may be made or served and (c) where the Notes may be presented for payment of principal, premium, if any, and interest. 

  

	(10)	The 2020 Notes are approved in the form attached hereto as Exhibit A and shall be issued upon original issuance in whole in the form of book-entry Global Securities, and the Depositary shall be The Depository
Trust Company, New York, New York. Such Global Securities shall bear the legends set forth in the form of Note attached as Exhibit A hereto. 

  

	(11)	The 2025 Notes are approved in the form attached hereto as Exhibit B and shall be issued upon original issuance in whole in the form of book-entry Global Securities, and the Depositary shall be The Depository
Trust Company, New York, New York. Such Global Securities shall bear the legends set forth in the form of Note attached as Exhibit B hereto. 

  

	(12)	In addition to the circumstances specified in Section 2.15(c)(i) and (ii) of the Base Indenture, the Global Securities may be exchanged for individual Notes in definitive registered form if an
Event of Default has occurred and is continuing. 

  

	(13)	The Issuer may, at its option, redeem the 2020 Notes or the 2025 Notes, as the case may be, in whole or in part, at any time prior to September 1, 2020 (with respect to the 2020 Notes, which is the date that is 1
month prior to the maturity date of such series of Notes) or July 1, 2025 (with respect to the 2025 Notes, which is the date that is 3 months prior to the maturity date of such series of Notes) at a redemption price equal to the greater of:

  
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	 	(a)	100% of the principal amount of the Notes of such series to be redeemed, plus accrued and unpaid interest to the applicable redemption date, and 

 

	 	(b)	the sum of the present values of the remaining scheduled payments of principal amount and interest on the Notes of such series to be redeemed that would be due if such Notes matured on October 1, 2020 (with respect
to the 2020 Notes) or October 1, 2025 (with respect to the 2025 Notes) but for the redemption (not including any portion of payments of interest accrued as of the applicable redemption date), discounted to the applicable redemption date in
accordance with customary market practice on a semi-annual basis at a rate equal to the sum of the Treasury Rate plus 45 basis points (with respect to the 2020 Notes) or 50 basis points (with respect to the 2025 Notes), plus accrued and unpaid
interest to the applicable redemption date. 

 The Issuer may, at its option, redeem the 2020 Notes or the 2025 Notes, as the
case may be, in whole or in part, at any time on or following September 1, 2020 (with respect to the 2020 Notes) or July 1, 2025 (with respect to the 2025 Notes) at a redemption price equal to 100% of the principal amount of the Notes of
such series to be redeemed, plus accrued and unpaid interest to the applicable redemption date. 
 The redemption price for the Notes of such
series to be redeemed shall be calculated by the Independent Investment Banker assuming a 360-day year consisting of twelve 30-day months. 

For purposes of the Notes: 

“Treasury Rate” means, with respect to any redemption date, the rate per year equal to the semi-annual equivalent
yield to maturity of the Comparable Treasury Issue, calculated on the third Business Day preceding the redemption date, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for that redemption date. 
 “Comparable Treasury Issue” means the United States Treasury security
selected by the Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes of such series to be redeemed (assuming, for this purpose, with respect to the 2020 Notes, that such Notes
matured on October 1, 2020, and with respect to the 2025 Notes, that such Notes matured on October 1, 2025) that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity to such remaining term. 
 “Comparable Treasury Price” means, with
respect to any redemption date: 
  

	 	(x)	the average of the Reference Treasury Dealer Quotations for that redemption date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations, 

  
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	 	(y)	if the Issuer obtains fewer than four Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received, or 

 

	 	(y)	if only one such Reference Treasury Dealer Quotation is received, such Reference Treasury Dealer Quotation. 

“Independent Investment Banker” means an independent investment banking institution of national standing appointed by
the Issuer, which may be one of the Reference Treasury Dealers. 
 “Reference Treasury Dealer” means each of
(1) J.P. Morgan Securities LLC, or its affiliates, and their respective successors, (2) Merrill Lynch, Pierce, Fenner & Smith Incorporated, or its affiliates, and their respective successors, and (3) any other primary U.S.
Government securities dealer in The City of New York (a “Primary Treasury Dealer”) selected by the Issuer; provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Issuer shall substitute
therefor another Primary Treasury Dealer. 
 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any redemption date, the average, as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the
Issuer by that Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding that redemption date. 

The Issuer shall send notice of any redemption at least 30 days but not more than 60 days before the redemption date to each
Holder of the Notes of such series to be redeemed. Any notice of redemption may, at the Issuer’s discretion, be conditioned on the satisfaction of one or more conditions precedent, including, but not limited to, the occurrence or consummation
of any event or transaction as described in the notice before the date fixed for the redemption. A notice of conditional redemption will be of no effect unless all conditions to the redemption have occurred before the redemption date or have been
waived by the Issuer. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest shall cease to accrue on the Notes of such series or portions of the Notes of such series called for redemption. 

If less than all of any series of Notes are to be redeemed at any time, the Trustee shall select Notes of such series for
redemption on a pro rata basis, by lot or by such method as the Trustee deems fair and appropriate; provided, however, that, so long as the Notes of such series are held in book-entry form, the Notes of such series shall be selected
for redemption in accordance with the Depositary’s then-current practice. 
  

	(14)	 Upon the occurrence of a Change of Control Triggering Event (as defined herein) with respect to a series of Notes, unless the Issuer has exercised its
right to redeem the Notes of such series pursuant to paragraph 13 hereof, each Holder of Notes of such series will have the right to require the Issuer to repurchase all or any part (equal to $2,000 or an

  
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integral multiple of $1,000 in excess thereof) of such Holder’s Notes of such series as provided herein (the “Change of Control Offer”) at a purchase price in cash equal to
101% of the aggregate principal amount of such Notes of such series repurchased, plus accrued and unpaid interest, if any, on such Notes repurchased, to the date of purchase (the “Change of Control Payment”). Within 30 days
following any Change of Control Triggering Event, the Issuer shall send a notice to each Holder of Notes of such series, with a written copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. Such notice shall state:

  

	 	(i)	a description of the transaction or transactions that constitute such Change of Control Triggering Event; 

  

	 	(ii)	that the Change of Control Offer is being made pursuant to this paragraph 14 and that all Notes of such series validly tendered will be accepted for payment; 

 

	 	(iii)	the Change of Control Payment and the date on which the Change of Control Payment will be made (the “Change of Control Payment Date”), which shall be a Business Day that is no earlier than 30 days nor
later than 60 days from the date the notice is sent, other than as may be required by law; 

  

	 	(iv)	that any Note of such series not tendered will continue to accrue interest; 

  

	 	(v)	that any Note of such series accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest on and after the Change of Control Payment Date unless the Issuer shall default in the Change of
Control Payment and the only remaining right of the Holder thereof is to receive the Change of Control Payment upon surrender of such Note to the Paying Agent; 

  

	 	(vi)	that Holders of the Notes of such series electing to have a portion of a Note of such series purchased pursuant to the Change of Control Offer may only elect to have such Note purchased in a principal amount of $2,000
or integral multiples of $1,000 in excess thereof; 

  

	 	(vii)	that if a Holder of Notes of such series elects to have such Notes purchased pursuant to the Change of Control Offer it will be required to surrender such Notes, with the form entitled “Option of Holder to Elect
Purchase” on the reverse of such Notes completed, or transfer by book-entry transfer, to the Paying Agent at the address specified in the notice prior to the close of business on the third Business Day prior to the Change of Control Payment
Date; 

  

	 	(viii)	 that a Holder of Notes of such series will be entitled to withdraw its election if the Issuer receives, not later than the third Business Day
preceding the Change of Control Payment Date, a telegram, telex, 

  
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facsimile transmission or letter setting forth the name of such Holder, the principal amount of such Notes such Holder delivered for purchase, and a statement that such Holder is withdrawing its
election to have such Notes purchased; and 

  

	 	(ix)	that if Notes of such series are purchased only in part a new Note of the same type will be issued in a principal amount equal to the unpurchased portion of such Notes surrendered. 

On the Change of Control Payment Date, the Issuer shall, to the extent lawful, (a) accept for payment all Notes of such
series or portions of such notes properly tendered pursuant to the Change of Control Offer, (b) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes of such series or portions thereof properly
tendered and (c) deliver or cause to be delivered to the Trustee for cancellation the Notes of such series properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes of such series or portions
thereof being purchased by the Issuer. The Paying Agent shall promptly send to each Holder of such Notes properly tendered the Change of Control Payment for such Notes, and the Trustee, upon receipt of an order from the Issuer, shall promptly
authenticate and send (or cause to be transferred by book entry) to such Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered by such Holder, if any, in denominations as set forth in the Indenture. 

The Issuer shall comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and any other applicable securities laws and regulations thereunder to the extent these laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control
Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with this paragraph 14, the Issuer and Block will comply with the applicable securities laws and regulations and will not be deemed to have breached
its or their obligations under this paragraph 14 by virtue of such conflicts. 
 For purposes of the Notes: 

“Below Investment Grade Rating Event” means the ratings on the Notes of a series are lowered by each of the
Rating Agencies and the Notes of such series are rated below an Investment Grade Rating by each of the Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the
60-day period following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the Notes of such series is under publicly announced consideration for possible downgrade by any of the
Rating Agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a
Below Investment Grade Rating Event for purposes of the definition of Change of 

  
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Control Triggering Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee
or the Issuer in writing at the Trustee’s or the Issuer’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of
Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). 

“Capital Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options,
participation or other equivalents of or interests in (however designated) equity of such Person, including any preferred stock and limited liability or partnership interests (whether general or limited), but excluding any debt securities
convertible into such equity. 
 “Change of Control” means the occurrence of any of the following: 

(a) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in
one or a series of related transactions, of all or substantially all of Block’s properties or assets and of Block’s Subsidiaries’ properties or assets taken as a whole to any Person or group of related “persons” (as that
term is used in Section 13(d)(3) of the Exchange Act) (a “Group”) other than the Issuer or Block or one of their Subsidiaries or a holding company satisfying the conditions of the proviso below; 

(b) the adoption of a plan relating to liquidation or dissolution of Block; 

(c) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is
that any Person or Group (other than the Issuer or Block or one of their subsidiaries) becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Issuer’s or Block’s Voting Stock;
or 
 (d) the first day on which a majority of the members of the board of directors of Block are not Continuing Directors.

 Notwithstanding the foregoing, a transaction will not be considered to be a Change of Control if (i) Block becomes a
direct or indirect, wholly-owned subsidiary of a holding company or transfers all or substantially all of its assets to a holding company and (ii) immediately following that transaction, (A) the direct or indirect holders of the Voting
Stock of the holding company are substantially the same as the holders of Block’s Voting Stock immediately prior to that transaction or (B) no Person or Group is the beneficial owner, directly or indirectly, of more than 50% of the Voting
Stock of the holding company. 

  
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 “Change of Control Triggering Event” means the occurrence of
both a Change of Control and a Below Investment Grade Rating Event. 
 “Continuing Director” means, as of
any date of determination, any member of the board of directors of Block who (i) was a member of the board of directors of Block on the date of the issuance of the Notes or (ii) was nominated for election, elected or appointed to
Block’s board of directors with the approval of a majority of the Continuing Directors who were members of the board of directors of Block at the time of such nomination, election or appointment (either by a specific vote or by approval of
Block’s proxy statement in which such member was named as a nominee for election as a director). 
 “Investment
Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 

“Moody’s” means Moody’s Investors Service, Inc. or its successor. 

“Person” means any individual, corporation, partnership, joint venture, association, joint stock company,
trust, unincorporated organization, limited liability company, government or any agency or political subdivision thereof or any other entity, and includes a “person” as used in Section 13(d)(3) of the Exchange Act. 

“Rating Agencies” means (i) each of Moody’s and S&P and (ii) if either of Moody’s or
S&P ceases to rate the applicable series of Notes or fails to make a rating of such Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning
of Section 3(a)(62) under the Exchange Act selected by Block (as certified by a resolution of the board of directors of Block) as a replacement agency for Moody’s or S&P, or either of them, as the case may be. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies,
Inc. or its successor. 
 “Voting Stock” of a Person means all classes of Capital Stock of such Person then
outstanding and normally entitled to vote in the election of directors, managers or trustees, as applicable. 
  

	(15)	Unless a Change of Control Triggering Event has occurred with respect to a series of Notes, the Holders of the Notes of such series shall not have the right to demand repayment of the Notes of such series prior to
maturity. 

  

	(16)	The interest rate payable on the each series of Notes shall be subject to adjustments from time to time if either Moody’s or S&P (or, in either case if applicable, any Substitute Rating Agency (as defined
below)) downgrades or subsequently upgrades the debt rating assigned to the Notes of such series, as set forth below. 

  
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 If the rating from Moody’s (or any applicable Substitute Rating Agency) of a
series of Notes is decreased to a rating set forth in the immediately following table, the interest rate on such series of Notes shall increase from the Original Interest Rate for such series of Notes by the percentage set forth opposite that
rating: 
  

					
	 Rating
	  	Percentage	 
	 Ba1
	  	 	0.25	% 
	 Ba2
	  	 	0.50	% 
	 Ba3
	  	 	0.75	% 
	 B1 or below
	  	 	1.00	% 

 If the rating from S&P (or any applicable Substitute Rating Agency) of a series of Notes is
decreased to a rating set forth in the immediately following table, the interest rate on such series of Notes shall increase from the Original Interest Rate for such series of Notes by the percentage set forth opposite that rating: 

 

					
	 Rating
	  	Percentage	 
	 BB+
	  	 	0.25	% 
	 BB
	  	 	0.50	% 
	 BB-
	  	 	0.75	% 
	 B+ or below
	  	 	1.00	% 

 Notwithstanding the foregoing, if at any time the interest rate on the Notes of any series has
been adjusted upward and either Moody’s or S&P (or any applicable Substitute Rating Agency), as the case may be, subsequently increases its rating of the Notes of such series to any of the threshold ratings set forth in the tables above,
the interest rate on the Notes of such series shall be decreased such that the interest rate for the Notes of such series equals the Original Interest Rate for such series of Notes plus the percentages set forth opposite the ratings from the tables
above in effect immediately following the increase. If Moody’s (or any applicable Substitute Rating Agency) subsequently increases its rating of the Notes of such series to Baa3 or higher and S&P (or any applicable Substitute Rating Agency)
increases its rating to BBB- or higher (or, in either case if applicable, the equivalent rating of any Substitute Rating Agency) the interest rate on the Notes of such series shall be decreased to the Original Interest Rate for such series of Notes.

 Each adjustment required by any decrease or increase in a rating set forth above, whether occasioned by the action of
Moody’s or S&P (or any applicable Substitute Rating Agency), shall be made independent of any and all other adjustments. In no event shall (1) the interest rate for the Notes of any series be reduced to below the Original Interest Rate
for such series of Notes or (2) the total increase in the interest rate on the Notes of any series exceed 2.00% above the Original Interest Rate for such series of Notes. 

  
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 If at any time either Moody’s or S&P (or any applicable Substitute
Rating Agency) ceases to provide a rating of the Notes of any series and a Substitute Rating Agency is not obtained as provided below, any subsequent increase or decrease in the interest rate of the Notes of such series necessitated by a reduction
or increase in the rating by the agency continuing to provide the rating shall be twice the percentage set forth in the applicable table above. No adjustments in the interest rate of the Notes of such series shall be made solely as a result of
either Moody’s or S&P (or any applicable Substitute Rating Agency) ceasing to provide a rating. If none of Moody’s, S&P or any Substitute Rating Agency provides a rating of the Notes of any series, the interest rate on the Notes of
such series shall increase to, or remain at, as the case may be, 2.00% above the Original Interest Rate for such series of Notes. 

If at any time either Moody’s or S&P (or any applicable Substitute Rating Agency) ceases to provide a rating of the
Notes of any series for reasons outside of the Issuer’s control, the Issuer may, at its option, obtain a rating of the Notes of such series from another nationally recognized statistical rating organization within the meaning of
Section 3(a)(62) under the Exchange Act, to the extent one exists, and if another nationally recognized statistical rating organization rates the Notes of such series (such organization, as certified by the Issuer in writing to the Trustee, a
“Substitute Rating Agency”), for purposes of determining any increase or decrease in the interest rate on the Notes of such series pursuant to the table above (a) such Substitute Rating Agency will be substituted for the last
such rating agency to provide a rating of the Notes of such series but which has since ceased to provide such rating until such time, if any, as such rating agency resumes providing a rating of the Notes of such series, (b) the relative ratings
scale used by such Substitute Rating Agency to assign ratings to senior unsecured debt will be determined in good faith by an independent investment banking institution of national standing appointed by the Issuer and, for purposes of determining
the applicable ratings included in the table above with respect to such Substitute Rating Agency, such ratings shall be deemed to be the equivalent ratings used by Moody’s, S&P or any prior Substitute Rating Agency (if applicable), as the
case may be, in such table and for any other purpose described in this section and (c) the interest rate on the Notes of such series will increase, decrease or remain unchanged, as the case may be, as described above to reflect any change in
the appropriate percentage, if any, set forth opposite the rating from such Substitute Rating Agency in the applicable table above (taking into account the provisions of clause (b) above) compared to the prior percentage, if any, corresponding
to the rating agency for which the Substitute Rating Agency has been substituted. If Moody’s or S&P either ceases to provide a rating of the Notes of any series for reasons within the Issuer’s control, the Issuer will not be entitled
to obtain a rating from a Substitute Rating Agency and the increase or decrease in the interest rate of Notes of such series shall be determined in the manner described above as if either only one or no rating agency provides a rating of the Notes,
as the case may be. 
 Any interest rate increase or decrease described above shall take effect on the next Business Day
after the rating change has occurred. The Issuer shall provide written notification to the Trustee of any adjustment to the interest rate promptly following any ratings event requiring such adjustment pursuant to this paragraph (16). 

  
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 The interest rate on the Notes of any series shall permanently cease to be
subject to any adjustment described above (notwithstanding any subsequent decrease in the ratings by either or both rating agencies (or any applicable Substitute Rating Agency)) if the Notes of such series become rated Baa1 and BBB+ or higher by
Moody’s and S&P, respectively (or, in either case if applicable, the equivalent rating of any Substitute Rating Agency) (or one of these ratings if only rated by one rating agency), with a stable or positive outlook by each of the rating
agencies. 
  

	(17)	The Notes shall be general unsecured obligations of the Issuer and shall rank equal in right of payment, on a pari passu basis, with all of its other existing and future unsecured and unsubordinated senior indebtedness.
The Notes shall be fully and unconditionally guaranteed on a senior unsecured basis by Block. The guarantee of each series of Notes shall rank equal in right of payment, on a pari passu basis, with all of Block’s existing and future unsecured
and unsubordinated senior indebtedness and guarantees. 

  

	(18)	The Notes shall not be subject to any sinking fund requirement. 

  

	(19)	Section 4.10 of the Base Indenture with respect to the Notes shall be replaced with the following: 

Limitation on Liens. Unless the Company contemporaneously secures the Notes equally and ratably with (or prior to) such obligation, the Company
shall not, and shall not permit any of its Subsidiaries to create or permit to exist any Lien on any Principal Property, or any shares of stock or Indebtedness of a Restricted Subsidiary, whether owned on the date of issuance of the Notes or
thereafter acquired, securing any obligation, except for: 
  

	 	(i)	Permitted Liens; or 

  

	 	(ii)	Liens securing Indebtedness if, after giving pro forma effect to the incurrence of such Indebtedness (and the receipt and application of the proceeds thereof) or the securing of outstanding Indebtedness, all
Indebtedness of the Company and its Subsidiaries secured by Liens on any Principal Property (other than Permitted Liens), at the time of determination does not exceed the greater of $250,000,000 or 15% of the total consolidated stockholders’
equity of the Company as shown on the audited consolidated balance sheet contained in the latest annual report to stockholders of the Company. 

  

	(20)	The definition of “Credit Agreement” in the Base Indenture with respect to the Notes shall be replaced with the following: 

“Credit Agreement” means, as supplemented, amended, modified, refinanced or replaced at any time from time to time, the Credit
and Guarantee Agreement dated September 21, 2015 among Block Financial LLC, H&R Block, Inc., the lenders party thereto from time to time, and J.P. Morgan Chase Bank, N.A., as Administrative Agent. 

  
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	(21)	The definition of “Permitted Lien” in the Base Indenture with respect to the Notes shall be replaced with the following: 

“Permitted Liens” means, with respect to any Person, 

 

	 	(a)	Pledges or deposits by such Person under worker’s compensation laws, unemployment insurance laws, social security laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts
(other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or bonds to secure performance, surety or appeal bonds to which such
Person is a party or which are otherwise required of such Person, or deposits as security for contested taxes or import duties or for the payment of rent or other obligations of like nature, in each case Incurred in the ordinary course of business;

  

	 	(b)	Liens imposed by law, such as carriers’, warehousemen’s, laborers’, materialmen’s, landlords’, vendors’, workmen’s, operators’, factors and mechanics liens, in each case for sums
not yet delinquent by more than 30 days or being contested in good faith by appropriate proceedings; 

  

	 	(c)	Liens for taxes, assessments and other governmental charges or levies not yet due or which are being contested in good faith by appropriate proceedings; 

 

	 	(d)	Survey exceptions, encumbrances, easements or reservations of or with respect to, or rights of others for or with respect to, licenses, rights-of-way, sewers, electric and other utility lines and usages, telegraph and
telephone lines, pipelines, surface use, operation of equipment, permits, servitudes and other similar matters, or zoning or other restrictions as to the use of real property or Liens incidental to the conduct of the business of such Person or to
the ownership of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate materially adversely detract from the value of the affected properties or materially interfere with the ordinary course of
business of such Person; 

  

	 	(e)	Liens existing on or provided for under the terms of agreements existing on the date the Notes are issued (including, without limitation, under existing credit agreements); 

 

	 	(f)	Liens on property at the time the Company or any of its Subsidiaries acquired the property or the entity owning the property; provided, however, any such Lien may not extend to any other property owned by the Company or
any of its Subsidiaries; 

  

	 	(g)	Liens on any Principal Property, or any shares of stock or Indebtedness of any Subsidiary, that the Company or any Subsidiary acquires after the date of the Indenture that are created contemporaneously with such
acquisition, or within 24 months thereafter, to secure or provide for the payment or financing of any part of the purchase price thereof; 

  
 12 

	 	(h)	Liens and transfers arising from, or in connection with, any securitization, sale or other transfer, or any financing, involving loans, servicing assets, securities, receivables or other financial assets (or, in each
case, portions thereof, or participations therein) and/or, in each case, related rights and interests; 

  

	 	(i)	Liens securing a Hedging Obligation so long as such Hedging Obligation is of the type customarily entered into for the purpose of limiting risk; 

 

	 	(j)	Purchase Money Liens; 

  

	 	(k)	Liens securing intercompany Indebtedness and obligations (including under repurchase agreements or other similar obligations) owed to the Company or a wholly-owned subsidiary of the Company; 

 

	 	(l)	Liens on any property to secure Indebtedness incurred in connection with the construction, installation or financing of pollution control or abatement facilities or other forms of industrial revenue bond financing or
Indebtedness issued or Guaranteed by the United States, any state or any department, agency or instrumentality thereof; 

  

	 	(m)	Government Contract Liens; 

  

	 	(n)	Liens securing Indebtedness of joint ventures in which the Company or a Subsidiary has an interest to the extent such Liens are on property or assets of such joint ventures; 

 

	 	(o)	Liens arising in connection with payables to brokers and dealers in the ordinary course of business; 

  

	 	(p)	Liens arising in connection with deposits and other liabilities incurred by banking and/or other financial services or cash management activities in the ordinary course of business; 

 

	 	(q)	Banker’s Liens, rights of setoff and other similar Liens existing solely with respect to bank accounts maintained by the Company and its Subsidiaries, in each case granted in the ordinary course of business in
favor of the bank or banks with which such accounts are maintained; provided that, unless the Liens are non-consensual and arise by operation of law, the Liens shall not secure (either directly or indirectly) the repayment of any Indebtedness;

  

	 	(r)	Liens resulting from the deposit of funds or evidences of Indebtedness in trust for the purpose of defeasing Indebtedness of the Company or any of its Subsidiaries; 

  
 13 

	 	(s)	legal or equitable Liens deemed to exist by reason of negative pledges or the existence of any litigation or other legal proceeding and any related lis pendens filing (excluding any attachment prior to judgment
lien or attachment lien in aid of execution on a judgment);  

  

	 	(t)	any attachment Lien being contested in good faith and by proceedings promptly initiated and diligently conducted upon such Person’s actual knowledge thereof, unless the attachment giving rise to the Lien shall not,
within sixty days after the entry thereof, have been discharged or fully bonded or shall not have been discharged within sixty days after the termination of any such bond; 

 

	 	(u)	any judgment Lien, unless the judgment it secures shall not, within sixty days after the entry thereof, have been discharged or execution thereof stayed pending appeal, or shall not have been discharged within sixty
days after the expiration of any such stay; 

  

	 	(v)	Liens to banks arising from the issuance of letters of credit issued by such banks or other financial institutions; 

  

	 	(w)	Rights of a common owner of any interest in property held by such Person; 

  

	 	(x)	Any defects, irregularities or deficiencies in title to easements, rights-of-way or other properties which do not in the aggregate materially adversely affect the Company and its Subsidiaries taken as a whole;

  

	 	(y)	Liens securing Indebtedness in an aggregate outstanding principal amount not to exceed $300,000,000 on (i) the property located at One H&R Block Way, Kansas City, Missouri, together with all adjacent
properties, including, without limitation, parking structures, owned by the Company and its Subsidiaries and (ii) all rights, incentives, benefits and other interests related thereto, including air rights, development rights and tax incentives;
and 

  

	 	(z)	Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings, extensions, renewals or replacements), as a whole, or in part, of any obligation secured by any Lien
referred to in the foregoing clauses (e) through (n); provided, however, that (i) such new Lien shall be limited to all or part of the same property that secured the original Lien (plus improvements on such property) and (ii) the
Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A) the outstanding principal amount or, if greater, committed amount of the obligations described under clauses (e) through (n) at
the time the original Lien became a Permitted Lien under this Indenture and (B) an amount necessary to pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement. 

  
 14 

	(22)	The definition of “Principal Property” in the Base Indenture shall be replaced with the following: 

“Principal Property” means, as of any date of determination, any property or assets owned by the Company or any Subsidiary other than
any such property or assets which, in the good faith opinion of the Company’s board of directors, are not of material importance to the business conducted by the Company and its Subsidiaries taken as a whole; it being understood and agreed that
in no event will the term “Principal Property” include any ownership interests in, or any property or assets of any entity whose activities are reported as discontinued operations. 

 

	(23)	Section 4.08 of the Base Indenture (Maintenance of Properties) shall not be applicable to the Notes. 

  

	(24)	Upon a covenant defeasance in accordance with Section 11.02 of the Base Indenture (Satisfaction and Discharge of Indenture; Defeasance; Unclaimed Moneys), the Issuer and Block’s obligations under
Section 4.07 of the Base Indenture (Existence), Section 4.09 of the Base Indenture (Payment of Taxes and Other Claims), Section 4.10 of the Base Indenture (Limitation on Liens), paragraph 19 of this Certificate
and Section 4.11 of the Base Indenture (Ownership of BFC) shall terminate. 

  

	(25)	References in the Indenture to the “Board of Directors” of the Issuer are understood to refer to its sole manager or any other individual, group or entity that carries out an equivalent role of a board of
directors in the future. 

  

	(26)	Section 6.01(h) of the Base Indenture with respect to the Notes shall be replaced with the following: 

  

	 	(h)	the entry of an order or decree by a court having competent jurisdiction in the premises for (i) relief in respect of BFC, the Company or any of its Restricted Subsidiaries under Title 11 or the United States Code
or any other Federal or State bankruptcy, insolvency or similar law, (ii) the appointment of a receiver, trustee, custodian, sequestrator or similar official for BFC, the Company or any such Restricted Subsidiary or for a substantial part of
any of their property (except any decree or order appointing such official of any Restricted Subsidiary pursuant to a plan under which the assets and operations of such Restricted Subsidiary are transferred to or combined with another Subsidiary or
Subsidiaries of the Company or to the Company), (iii) the winding-up or liquidation of BFC, the Company or any such Restricted Subsidiary (except any decree or order approving or ordering the winding up or liquidation of the affairs of a
Restricted Subsidiary pursuant to a plan under which the assets and operations of such Restricted Subsidiary are transferred to or combined with another Subsidiary or Subsidiaries of the Company or to the Company) or (iv) any similar relief is
granted under any foreign laws; and, in each case, such order or decree shall continue unstayed and in effect for 60 consecutive days; or 

  
 15 

	(27)	Clauses (a) through (h) of Section 6.01 of the Base Indenture, as amended by paragraph (26) of this Certificate, shall be the only of Events of Default with respect to the Notes.
Section 6.01 of the Base Indenture will be further amended to include the following paragraph after the enumerated Events of Default: 

It is understood and agreed that no action, activity, event, order, decree or relief described in either of the two Events of Default described
in Section 6.01(g) and Section 6.01(h) that relates solely to any ownership interest in, or any property or assets of, any entity whose activities are reported as discontinued operations will constitute an Event of Default. 

 

	(28)	Section 10.01 of the Base Indenture with respect to the Notes shall be replaced with the following: 

Consolidations and Mergers of the Company. Neither the Company nor BFC shall consolidate with or merge with or into any Person, or convey,
transfer or lease all or substantially all the assets of the Company on a consolidated basis to any Person (other than the Company or any Subsidiary), unless the following conditions have been satisfied: 

 

	 	(i)	either (a) the Company or BFC shall be the continuing Person in the case of a consolidation or merger or (b) the resulting, surviving or transferee Person if other than the Company or BFC (the
“Successor Company”) shall be a Person organized and existing under the laws of the United States, any State thereof or the District of Columbia and expressly assumes, by an indenture supplemental hereto, executed and delivered to
the Trustee, in form satisfactory to the Trustee, all the obligations of the Company or BFC, as applicable, under the Notes and this Indenture; 

  

	 	(ii)	immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation of the Successor Company or any Subsidiary of the Company as a result of such transaction as having been
incurred by the Successor Company or such Subsidiary at the time of such transaction), no Default or Event of Default would occur or be continuing; and 

  

	 	(iii)	the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and each related supplemental indenture, if any, complies
with this Indenture. 

  

	(29)	Each series of Notes shall be subject to Article XI of the Base Indenture (Satisfaction and Discharge of Indenture; Defeasance; Unclaimed Moneys), as amended by paragraph (24) of this Certificate.

  
 16 

	(30)	Each series of Notes will be issued in registered form, in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

 

	(31)	The initial public offering price of the 2020 Notes is 99.674% of the principal amount thereof, plus accrued interest, if any, from September 30, 2015 and initial public offering price of the 2025 Notes is 99.700%
of the principal amount thereof, plus accrued interest, if any, from September 30, 2015; 

  

	(32)	The price to be received by the Issuer from the Underwriters pursuant to the Underwriting Agreement dated September 25, 2015 among the Issuer, Block and J.P. Morgan Securities LLC and Merrill, Lynch, Pierce,
Fenner & Smith Incorporated, as representatives of the several underwriters named therein, for the 2020 Notes shall be 99.074% of the principal amount thereof and for the 2025 Notes shall be 99.050% of the principal amount thereof;

  

	(33)	In case of any conflict between this Certificate and the Notes in the form referred to in paragraphs 10 and 11, the Notes shall control. 

[signature pages follow] 

  
 17 

 IN WITNESS WHEREOF, I have signed my name as of this 30th day of September, 2015. 

 

			
		
	By:	 	 /s/ Gregory J. Macfarlane

	Name:	 	Gregory J. Macfarlane
	Title:	 	Chief Financial Officer
		
	By:	 	 /s/ Joel L. Campbell

	Name:	 	Joel L. Campbell
	Title:	 	Vice President and Treasurer

 Exhibit A 

[Form of 2020 Note] 

 Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York
corporation (“DTC”), to the issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized
representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
  

			
	 Number [        ]
	  	$[            ]
		  	CUSIP [            ]

 Block Financial LLC 

4.125% Note due 2020 
  

					
	Rate of Interest	 	Maturity Date	 	Original Issue Date
	4.125%	 	October 1, 2020	 	September 30, 2015

 BLOCK FINANCIAL LLC, a limited liability company duly organized and existing under the laws of the State of
Delaware (herein called the “Company”, which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the
principal sum of                     , at the office or agency of the Company in St. Paul, Minnesota, on October 1, 2020, in such coin or
currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest, at the rate of 4.125% per annum (the “Original Interest Rate”), from the date
hereof or from the most recent date to which interest has been paid or duly provided for, semi-annually on April 1 and October 1 of each year and at maturity, on said principal sum at said office or agency, in like coin or currency,
commencing on April 1, 2016. 
 The interest so payable on any April 1 or October 1 will, subject to certain exceptions
provided in the Indenture referred to on the reverse hereof, be paid to the person in whose name this Note is registered at the close of business on such March 15 or September 15, as the case may be, next preceding such April 1 or
October 1, unless the Company shall default in the payment of interest due on such interest payment date, in which case such defaulted interest, at the option of the Company, may be paid to the person in whose name this Note is registered at
the close of business on a special record date for the payment of such defaulted interest established by notice to the registered Holders of Notes not less than ten days preceding such special record date or may be paid in any other lawful manner
not inconsistent with the requirements of any securities exchange on which the Notes may be listed. Payment of interest may, at the option of the Company, be made by check mailed to the registered address of the person entitled thereto. 

This Note is one of a duly authorized issue of unsecured notes or other evidences of indebtedness of the Company (hereinafter called the
“Securities”), of the series hereinafter specified, all issued or to be issued under an indenture dated as of October 20, 1997 (the “Base Indenture”), among the Company (formerly known as Block Financial Corporation),
H&R Block, Inc. (“Guarantor”) and Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company) (“DBT”), as supplemented by that certain Second Supplemental Indenture, dated as of September 30, 2015 (the

 
“Supplemental Indenture,” and together with the Base Indenture, the “Indenture”), among the Company, Guarantor, DBT and U.S. Bank National Association, as separate trustee
under the Indenture (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the respective rights and duties thereunder of the Trustee, DBT, the Company, the Guarantor and
the Holders of the Securities. The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest at different rates, may have different
conversion prices (if any), may be subject to different redemption provisions, may be subject to different sinking, purchase or analogous funds, may be subject to different covenants and Events of Default and may otherwise vary as in the Indenture
provided. This Note is one of a series designated as the 4.125% Notes due 2020 of the Company (herein called the “Notes”) issued under the Indenture. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes have
the same effect as though fully set forth at this place. This Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the
reverse hereof. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
  

							
	Dated:                     , 2015	 		 	BLOCK FINANCIAL LLC
				
		 		 	By	 	  

		 		 		 	Name: Gregory J. Macfarlane
		 		 		 	Title:   President
			
		 		 	ATTEST:
				
		 		 	By	 	  

		 		 		 	Name: Joel L. Campbell
		 		 		 	Title:   Vice President and Treasurer

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

Dated:                     , 2015 

This is one of the Notes referred to in the within-mentioned Indenture. 
  

			
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
		
	By	 	  

		 	Name:
		 	Title:

 [Global Note] 

 BLOCK FINANCIAL LLC 

4.125% Notes 2020 
 The Company
may, at its option, redeem the Notes, in whole or in part, at any time prior to September 1, 2020 (which is the date that is 1 month prior to the maturity date of the Notes) at a redemption price equal to the greater of (i) 100% of the
principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the redemption date, or (ii) the sum of the present values of the remaining scheduled payments of principal amount and interest on the Notes to be redeemed that
would be due if such Notes matured on October 1, 2020 but for the redemption (not including any portion of payments of interest accrued as of the redemption date), discounted to the redemption date in accordance with customary market practice
on a semi-annual basis (assuming a 360 day year consisting of twelve 30 day months) at a rate equal to the sum of the Treasury Rate plus 45 basis points, plus accrued and unpaid interest to the redemption date. 

In addition, the Company may, at its option, redeem the Notes, in whole or in part, at any time on or following September 1, 2020 at a
redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per year equal to the semi-annual equivalent yield to maturity
of the Comparable Treasury Issue, calculated on the third Business Day preceding the redemption date, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
that redemption date. 
 “Comparable Treasury Issue” means the United States Treasury security selected by the Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed (assuming, for this purpose, that such notes matured on October 1, 2020) that would be used, at the time of selection
and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to such remaining term. 

“Comparable Treasury Price” means, with respect to any redemption date: 

(a) the average of the Reference Treasury Dealer Quotations for that redemption date, after excluding the highest and lowest of the Reference
Treasury Dealer Quotations; 
 (b) if the Company obtains fewer than four Reference Treasury Dealer Quotations, the average of all Reference
Treasury Dealer Quotations so received; or 
 (c) if only one such Reference Treasury Dealer Quotation is received, such Reference Treasury
Dealer Quotation. 
 “Independent Investment Banker” means an independent investment banking institution of national standing
appointed by the Company, which may be one of the Reference Treasury Dealers. 
 “Reference Treasury Dealer” means each of
(1) J.P. Morgan Securities LLC, or its affiliates, and their respective successors, (2) Merrill Lynch, Pierce, Fenner & Smith Incorporated, or its affiliates, and their respective successors, and (3) any other primary U.S.
Government securities dealer in The City of New York (a “Primary Treasury Dealer”) selected by the Company; provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company shall substitute therefor
another Primary Treasury Dealer. 

 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any redemption date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by that
Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding that redemption date. 
 The Company shall
mail notice of any redemption at least 30 days but not more than 60 days before the redemption date to each Holder of Notes to be redeemed. Any notice of redemption may, at the Company’s discretion, be conditioned on the satisfaction of one or
more conditions precedent, including, but not limited to, the occurrence or consummation of any event or transaction as described in the notice before the date fixed for the redemption. A notice of conditional redemption will be of no effect unless
all conditions to the redemption have occurred before the redemption date or have been waived by the Company. Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest shall cease to accrue on the
Notes or portions of the Notes called for redemption. 
 If less than all of the Notes are to be redeemed at any time, the Trustee shall
select Notes for redemption on a pro rata basis, by lot or by such method as the Trustee deems fair and appropriate; provided, however, that, so long as the Notes are held in book-entry form, the Notes shall be selected for redemption
in accordance with the Depositary’s then-current practice. 
 Upon the occurrence of a Change of Control Triggering Event (as defined
herein), unless the Company has exercised its right to redeem the Notes, each Holder of Notes will have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such
Holder’s Notes as provided herein (the “Change of Control Offer”) at a purchase price in cash equal to 101% of the aggregate principal amount of such Notes plus accrued and unpaid interest, if any, on such Notes to the date of
purchase (the “Change of Control Payment”). 
 Within 30 days following any Change of Control Triggering Event, the Company
shall send a notice to each Holder of Notes, with a written copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. Such notice shall state: 

(i) a description of the transaction or transactions that constitute such Change of Control Triggering Event; 

(ii) that the Change of Control Offer is being made pursuant to provisions hereof and that all Notes validly tendered will be accepted for
payment; 
 (iii) the Change of Control Payment and the date on which the Change of Control Payment will be made (“Change of
Control Payment Date”), which shall be a Business Day that is no earlier than 30 days nor later than 60 days from the date such notice is sent, other than as may be required by law; 

(iv) that any Note not tendered will continue to accrue interest; 

(v) that any Note accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest on and after the Change of
Control Payment Date unless the Company shall default in the Change of Control Payment and the only remaining right of the Holder thereof is to receive the Change of Control Payment upon surrender of such Note to the Paying Agent; 

 (vi) that Holders of the Notes electing to have a portion of a Note purchased pursuant to a
Change of Control Offer may only elect to have such Note purchased in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof; 

(vii) that if a Holder of Notes elects to have such Notes purchased pursuant to the Change of Control Offer it will be required to
surrender such Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Notes completed, or transfer by book-entry transfer, to the Paying Agent at the address specified in the notice prior to the close of
business on the third Business Day prior to the Change of Control Payment Date; 
 (viii) that a Holder of Notes will be entitled to
withdraw its election if the Company receives, not later than the third Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of such Holder, the principal amount of
Notes such Holder delivered for purchase, and a statement that such Holder is withdrawing its election to have such Notes purchased; and 

(ix) that if Notes are purchased only in part a new Note of the same type will be issued in a principal amount equal to the unpurchased
portion of the Notes surrendered. 
 On the Change of Control Payment Date, the Company shall, to the extent lawful, (i) accept for
payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer, (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof properly tendered
and (iii) deliver or cause to be delivered to the Trustee for cancellation the Notes properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the
Company. The Paying Agent shall promptly send to each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee, upon receipt of an order from the Company, shall promptly authenticate and send (or cause to be
transferred by book entry) to such Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered by such Holder, if any, in denominations as set forth in the Indenture. 

The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act of 1934, as amended (the “Exchange Act”)
and any other applicable securities laws and regulations thereunder to the extent these laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the
provisions of any securities laws or regulations conflict with the Change of Control Triggering Event provisions hereof, the Company and the Guarantor will comply with the applicable securities laws and regulations and will not be deemed to have
breached its or their obligations under the Change of Control Triggering Event provisions hereof by virtue of such conflicts. 
 For all
purposes hereof: 
 “Below Investment Grade Rating Event” means the ratings on the Notes are lowered by each of the Rating Agencies
and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public
notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below
Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for
purposes of the definition of Change of Control Triggering 

 
Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee or the Company in
writing at the Trustee’s or the Company’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or
not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). 
 “Capital
Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options, participation or other equivalents of or interests in (however designated) equity of such Person, including any preferred stock and limited
liability or partnership interests (whether general or limited), but excluding any debt securities convertible into such equity. 

“Change of Control” means the occurrence of any of the following: 

(a) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the Guarantor’s properties or assets and of the Guarantor’s Subsidiaries’ properties or assets taken as a whole to any Person or group of related “persons” (as
that term is used in Section 13(d)(3) of the Exchange Act (a “Group”) other than the Company or Guarantor or one of the their Subsidiaries or a holding company satisfying the conditions of the proviso below; 

(b) the adoption of a plan relating to the liquidation or dissolution of the Guarantor; 

(c) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any
Person or Group (other than the Company or the Guarantor or one of their subsidiaries) becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Company’s or the Guarantor’s
Voting Stock; or 
 (d) the first day on which a majority of the members of the Guarantor’s Board of Directors are not Continuing
Directors. 
 Notwithstanding the foregoing, a transaction will not be considered to be a Change of Control if (1) the Guarantor
becomes a direct or indirect wholly-owned subsidiary of a holding company or transfers all or substantially all of its assets to a holding company and (2) immediately following that transaction, (A) the direct or indirect holders of the
Voting Stock of the holding company are substantially the same as the Holders of the Guarantor’s Voting Stock immediately prior to that transaction or (B) no Person or Group is the beneficial owner, directly or indirectly, of more than 50%
of the Voting Stock of the holding company. 
 “Change of Control Triggering Event” means the occurrence of both a Change of
Control and a Below Investment Grade Rating Event. 
 “Continuing Director” means, as of any date of determination, any member of
the Guarantor’s Board of Directors who (1) was a member of the Guarantor’s Board of Directors on the date of the issuance of the Notes or (2) was nominated for election, elected or appointed to the Guarantor’s Board of
Directors with the approval of a majority of the Continuing Directors who were members of the Guarantor’s Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the
Guarantor’s proxy statement in which such member was named as a nominee for election as a director). 

 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 
 “Moody’s” means Moody’s Investors Service, Inc.
or its successor. 
 “Person” means any individual, corporation, partnership, joint venture, association, joint stock company,
trust, unincorporated organization, limited liability company, government or any agency or political subdivision thereof or any other entity, and includes a “person” as used in Section 13(d)(3) of the Exchange Act. 

“Rating Agencies” means (1) each of Moody’s and S&P and (2) if either of Moody’s or S&P ceases to rate
the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange
Act, selected by the Guarantor (as certified by a resolution of the Guarantor’s Board of Directors) as a replacement agency for Moody’s or S&P or either of them, as the case may be. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. or its successor.

 “Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled to vote in
the election of directors, managers or trustees, as applicable. 
 Unless a Change of Control Triggering Event has occurred, the Holders of
the Notes shall not have the right to demand repayment of the Notes prior to maturity. 
 The Notes will not be entitled to any sinking
fund. 
 In case an Event of Default with respect to the Notes, as defined in the Indenture, shall have occurred and be continuing, the
principal hereof together with interest accrued thereon, if any, may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture. 

The interest rate payable on the Notes shall be subject to adjustments from time to time if either Moody’s or S&P (or, in either case
if applicable, any Substitute Rating Agency (as defined below)) downgrades or subsequently upgrades the debt rating assigned to the Notes, as set forth below. 

If the rating from Moody’s (or any applicable Substitute Rating Agency) of the Notes is decreased to a rating set forth in the
immediately following table, the interest rate on the Notes shall increase from the Original Interest Rate by the percentage set forth opposite that rating: 
  

					
	 Rating
	  	Percentage	 
	 Ba1
	  	 	0.25	% 
	 Ba2
	  	 	0.50	% 
	 Ba3
	  	 	0.75	% 
	 B1 or below
	  	 	1.00	% 

 If the rating from S&P (or any applicable Substitute Rating Agency) of the Notes is decreased
to a rating set forth in the immediately following table, the interest rate on the Notes shall increase from the Original Interest Rate by the percentage set forth opposite that rating: 

 

					
	 Rating
	  	Percentage	 
	 BB+
	  	 	0.25	% 
	 BB
	  	 	0.50	% 
	 BB-
	  	 	0.75	% 
	 B+ or below
	  	 	1.00	% 

 Notwithstanding the foregoing, if at any time the interest rate on the Notes has been adjusted upward and
either Moody’s or S&P (or any applicable Substitute Rating Agency), as the case may be, subsequently increases its rating of the Notes to any of the threshold ratings set forth in the tables above, the interest rate on the Notes shall be
decreased such that the interest rate for the Notes equals the Original Interest Rate plus the percentages set forth opposite the ratings from the tables above in effect immediately following the increase. If Moody’s (or any applicable
Substitute Rating Agency) subsequently increases its rating of the Notes to Baa3 or higher and S&P (or any applicable Substitute Rating Agency) increases its rating to BBB- or higher (or, in either case if applicable, the equivalent rating of
any Substitute Rating Agency) the interest rate on the Notes shall be decreased to the Original Interest Rate. 
 Each adjustment required
by any decrease or increase in a rating set forth above, whether occasioned by the action of Moody’s or S&P (or any applicable Substitute Rating Agency), shall be made independent of any and all other adjustments. In no event shall
(1) the interest rate for the Notes be reduced to below the Original Interest Rate or (2) the total increase in the interest rate on the Notes exceed 2.00% above the Original Interest Rate. 

If either Moody’s or S&P (or any applicable Substitute Rating Agency) ceases to provide a rating of the Notes and a Substitute Rating
Agency is not obtained as provided below, any subsequent increase or decrease in the interest rate of the Notes necessitated by a reduction or increase in the rating by the agency continuing to provide the rating shall be twice the percentage set
forth in the applicable table above. No adjustments in the interest rate of the Notes shall be made solely as a result of either Moody’s or S&P (or any applicable Substitute Rating Agency) ceasing to provide a rating. If none of
Moody’s, S&P or any Substitute Rating Agency provides a rating of the Notes, the interest rate on the Notes shall increase to, or remain at, as the case may be, 2.00% above the Original Interest Rate. 

If at any time either Moody’s or S&P (or any applicable Substitute Rating Agency) ceases to provide a rating of the Notes for reasons
outside of the Company’s control, the Company may, at its option, obtain a rating of the Notes from another nationally recognized statistical rating organization within the meaning of Section 3(a)(62) under the Exchange Act, to the extent
one exists, and if another nationally recognized statistical rating organization rates the Notes (such organization, as certified by the Company in writing to the Trustee, a “Substitute Rating Agency”), for purposes of determining any
increase or decrease in the interest rate on the Notes pursuant to the table above (a) such Substitute Rating Agency will be substituted for the last such rating agency to provide a rating of the Notes but which has since ceased to provide such
rating until such time, if any, as such rating agency resumes providing a rating of the Notes, (b) the relative ratings scale used by such Substitute Rating Agency to assign ratings to senior unsecured debt will be determined in good faith by
an independent investment banking 

 
institution of national standing appointed by the Company and, for purposes of determining the applicable ratings included in the table above with respect to such Substitute Rating Agency, such
ratings shall be deemed to be the equivalent ratings used by Moody’s, S&P or any prior Substitute Rating Agency (if applicable), as the case may be, in such table and for any other purpose described in this section and (c) the interest
rate on the Notes will increase, decrease or remain unchanged, as the case may be, as described above to reflect any change in the appropriate percentage, if any, set forth opposite the rating from such Substitute Rating Agency in the applicable
table above (taking into account the provisions of clause (b) above) compared to the prior percentage, if any, corresponding to the rating agency for which the Substitute Rating Agency has been substituted. If Moody’s or S&P either
ceases to provide a rating of the Notes for reasons within the Company’s control, the Company will not be entitled to obtain a rating from a Substitute Rating Agency and the increase or decrease in the interest rate of the Notes shall be
determined in the manner described above as if either only one or no rating agency provides a rating of the Notes, as the case may be. 

Any interest rate increase or decrease described above shall take effect on the next Business Day after the rating change has occurred. The
Company shall provide written notification to the Trustee of any adjustment to the interest rate promptly following any ratings event requiring such adjustment. 

The interest rate on the Notes shall permanently cease to be subject to any adjustment described above (notwithstanding any subsequent
decrease in the ratings by either or both rating agencies (or any applicable Substitute Rating Agency)) if the Notes become rated Baa1 and BBB+ or higher by Moody’s and S&P, respectively (or, in either case if applicable, the equivalent
rating of any Substitute Rating Agency) (or one of these ratings if only rated by one rating agency), with a stable or positive outlook by each of the rating agencies. 

The Indenture contains provisions permitting the Company, the Guarantor and the Trustee, with the consent of the Holders of not less than a
majority in aggregate principal amount of the outstanding Notes to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or modifying
in any manner the rights of the Holders of the Notes; provided, however, that no such supplemental indenture shall, among other things, (i) reduce the percentage in principal amount of Notes whose Holders must consent to an amendment;
(ii) reduce the rate of or extend the time for payment of interest on any Notes; (iii) reduce the principal of or extend the Stated Maturity of any Notes; (iv) reduce the premium payable upon the redemption of any Notes or change the
time at which any Notes may or will be redeemed; (v) make any Notes payable in Currency other than that stated in the Notes; (vi) release any security that may have been granted in respect of the Notes; or (vii) make any change in any
of the provisions of the Indenture relating to directing the Trustee and waiving defaults or amendments that require unanimous consent. It is also provided in the Indenture that the Holders of a majority in aggregate principal amount of the
Securities of a series at the time outstanding may on behalf of the Holders of all the Securities of such series waive any past default under the Indenture with respect to such series and its consequences, except a default in the payment of the
principal of, premium, if any, or interest, if any, on any Security of such series or in respect of a covenant or provision which cannot be modified without the consent of each Holder affected thereby. Any such consent or waiver by the Holder of
this Note shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Note and any Notes which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon
this Note or such other Notes. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or
impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, if any, and interest on this Note at the place, at the respective times, at the rate and in the coin or currency herein prescribed. 

 The Indenture permits the Company to discharge its obligations with respect to the Notes on the
91st day following the satisfaction of the conditions set forth in the Indenture, which include the deposit with the Trustee of money or U.S. Government Obligations or a combination thereof sufficient to pay and discharge each installment of
principal of (including premium, if any, on) and interest, if any, on the outstanding Notes. 
 If the Company or Guarantor shall, in
accordance with Section 10.01 of the Indenture, consolidate with or merge with or into any other Person or convey, transfer or lease all or substantially all the assets of the Guarantor on a consolidated basis to any Person (other than the
Company or any Subsidiary) the successor shall succeed to, and be substituted for, the Person named as the “Company” on the face of this Note or the Guarantee, as applicable, all on the terms set forth in the Indenture. 

The Notes are issuable in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000. In the manner and
subject to the limitations provided in the Indenture, but without the payment of any service charge, Notes may be exchanged for an equal aggregate principal amount of Notes of other authorized denominations at the office or agency of the Company
maintained for such purpose. 
 Prior to due presentment for registration of transfer of this Note, the Company, the Trustee and any agent
of the Company or the Trustee may deem and treat the registered Holder hereof as the absolute owner of this Note (whether or not this Note shall be overdue) for the purpose of receiving payment of the principal of, premium, if any, and interest on
this Note, as herein provided, and for all other purposes, and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice of the contrary. All payments made to or upon the order of such registered
Holder shall, to the extent of the sum or sums paid, effectually satisfy and discharge liability for moneys payable on this Note. 
 No
recourse for the payment of the principal of, premium, if any, or interest on this Note, or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the
Indenture or any indenture supplemental thereto or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the
Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such
liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released. 
 Unless
otherwise defined in this Note, all terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

 H&R BLOCK, INC., a Missouri corporation (the “Guarantor”, which term includes any
successor under the Indenture (the “Indenture”) referred to in the Note on which this notation is endorsed) has fully and unconditionally guaranteed, pursuant to the terms of the Guarantees contained in Article XIII of the Indenture, the
due and punctual payment of the principal of and any premium and interest on this Note, when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, in
accordance with the terms of this Note and the Indenture. 
 The obligations of the Guarantor to the Holders of the Securities and to the
Trustee pursuant to the Guarantees and the Indenture are expressly set forth in Article XIII of the Indenture, and reference is hereby made to such Article and Indenture for the precise terms of the Guarantees. 

The Guarantees shall not be valid or obligatory for any purpose until the certificate of authentication on the Debt Security upon which this
notation of the Guarantees is endorsed shall have been executed by the Trustee under the Indenture by the manual signature of one of its authorized signatories. 

							
	Dated: September     , 2015	 		 	H&R BLOCK, INC.
				
		 		 	By	 	  

		 		 		 	Name: Gregory J. Macfarlane
		 		 		 	Title:   Chief Financial Officer

 [Global Note] 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations 
 TEN COM — as tenants in common 

TEN ENT — as tenants by the entireties 
 JT TEN — as
joint tenants with right of survivorship and not as tenants in common 
  

									
	UNIF GIFT MIN ACT —  	 	 	 	  Custodian  	 	 	 	
		 	(Cust)	 		 	(Minor)	 	

  

					
	Under Uniform Gifts to Minors Act  	 	 	 	
		 	(State)	 	

 Additional abbreviations may also be used though not in the above list. 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) 

and transfer(s) unto 
  

					
	  
	 		  	  

	 [PLEASE INSERT SOCIAL SECURITY OR
 OTHER
IDENTIFYING NUMBER OF
 ASSIGNEE]
	 	                	  	 [PLEASE PRINT OR TYPE NAME AND
 ADDRESS
INCLUDING ZIP CODE, OF
 ASSIGNEE]

 Within Note and all rights thereunder, hereby irrevocably constituting and appointing such person attorney to transfer such
note on the books of the Issuer, with full power of substitution in the premises. 
  

					
	  
	 	                	  	  

	DATE	 		  	SIGNATURE

 NOTICE: The signature must correspond with the name as written upon the face of the within Note in every particular without
alteration or enlargement or any change whatsoever. 

 OPTION OF HOLDER TO ELECT PURCHASE 

If the undersigned wants to elect to have this Note purchased by the Company pursuant to the provisions hereof, check the box below: 

 
  ̈ 

If the undersigned wants to elect to have only part of this Note purchased by the Company pursuant to the provisions hereof, state the amount
the undersigned elects to have purchased: 
 $            

 

			
	Dated:	  	 

  

			
	Signature:	  	 

  

			
	 Tax Identification
 Number:
	  	 

  

			
	 Signature
 Guarantee:
	  	 

 NOTE: The signature to this assignment must correspond exactly with the name as written upon the face of
the within Global Note in every particular without alteration or enlargement or any change whatsoever and must be guaranteed by a commercial bank or trust company having its principal office or correspondent in The City of New York or by a member of
the New York Stock Exchange. 

 Exhibit B 

[Form of 2025 Note] 

 Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York
corporation (“DTC”), to the issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized
representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
  

			
	Number [            ]	  	$[            ]
		  	CUSIP [            ]

 Block Financial LLC 

5.250% Note due 2025 
  

					
	Rate of Interest	 	Maturity Date	 	Original Issue Date
	5.250%	 	October 1, 2025	 	September 30, 2015

 BLOCK FINANCIAL LLC, a limited liability company duly organized and existing under the laws of the State of
Delaware (herein called the “Company”, which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the
principal sum of             , at the office or agency of the Company in St. Paul, Minnesota, on October 1, 2025, in such coin or currency of the United States of America as at the
time of payment shall be legal tender for the payment of public and private debts, and to pay interest, at the rate of 5.250% per annum (the “Original Interest Rate”), from the date hereof or from the most recent date to which
interest has been paid or duly provided for, semi-annually on April 1 and October 1 of each year and at maturity, on said principal sum at said office or agency, in like coin or currency, commencing on April 1, 2016. 

The interest so payable on any April 1 or October 1 will, subject to certain exceptions provided in the Indenture referred to on the
reverse hereof, be paid to the person in whose name this Note is registered at the close of business on such March 15 or September 15, as the case may be, next preceding such April 1 or October 1, unless the Company shall default
in the payment of interest due on such interest payment date, in which case such defaulted interest, at the option of the Company, may be paid to the person in whose name this Note is registered at the close of business on a special record date for
the payment of such defaulted interest established by notice to the registered Holders of Notes not less than ten days preceding such special record date or may be paid in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Notes may be listed. Payment of interest may, at the option of the Company, be made by check mailed to the registered address of the person entitled thereto. 

This Note is one of a duly authorized issue of unsecured notes or other evidences of indebtedness of the Company (hereinafter called the
“Securities”), of the series hereinafter specified, all issued or to be issued under an indenture dated as of October 20, 1997 (the “Base Indenture”), among the Company (formerly known as Block Financial Corporation),
H&R Block, Inc. (“Guarantor”) and Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company) (“DBT”), as supplemented by that certain Second Supplemental Indenture, dated as of September 30, 2015 (the

 
“Supplemental Indenture,” and together with the Base Indenture, the “Indenture”), among the Company, Guarantor, DBT and U.S. Bank National Association, as separate trustee
under the Indenture (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the respective rights and duties thereunder of the Trustee, DBT, the Company, the Guarantor and
the Holders of the Securities. The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest at different rates, may have different
conversion prices (if any), may be subject to different redemption provisions, may be subject to different sinking, purchase or analogous funds, may be subject to different covenants and Events of Default and may otherwise vary as in the Indenture
provided. This Note is one of a series designated as the 5.250% Notes due 2025 of the Company (herein called the “Notes”) issued under the Indenture. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes have
the same effect as though fully set forth at this place. This Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the
reverse hereof. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
  

							
	Dated:                     , 2015	 		 	BLOCK FINANCIAL LLC
				
		 		 	By	 	 
		 		 		 	Name: Gregory J. Macfarlane
		 		 		 	Title:   President
			
		 		 	ATTEST:
				
		 		 	By	 	 
		 		 		 	Name: Joel L. Campbell
		 		 		 	Title:   Vice President and Treasurer

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

Dated:                     , 2015 

This is one of the Notes referred to in the within-mentioned Indenture. 
  

			
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
		
	By	 	 
		 	Name:
		 	Title:

 [Global Note] 

 BLOCK FINANCIAL LLC 

5.250% Notes 2025 
 The Company
may, at its option, redeem the Notes, in whole or in part, at any time prior to July 1, 2025 (which is the date that is 3 months prior to the maturity date of the Notes) at a redemption price equal to the greater of (i) 100% of the
principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the redemption date, or (ii) the sum of the present values of the remaining scheduled payments of principal amount and interest on the Notes to be redeemed that
would be due if such Notes matured on October 1, 2025 but for the redemption (not including any portion of payments of interest accrued as of the redemption date), discounted to the redemption date in accordance with customary market practice
on a semi-annual basis (assuming a 360 day year consisting of twelve 30 day months) at a rate equal to the sum of the Treasury Rate plus 50 basis points, plus accrued and unpaid interest to the redemption date. 

In addition, the Company may, at its option, redeem the Notes, in whole or in part, at any time on or following July 1, 2025 at a
redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per year equal to the semi-annual equivalent yield to maturity
of the Comparable Treasury Issue, calculated on the third Business Day preceding the redemption date, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
that redemption date. 
 “Comparable Treasury Issue” means the United States Treasury security selected by the Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed (assuming, for this purpose, that such notes matured on October 1, 2025) that would be used, at the time of selection
and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to such remaining term. 

“Comparable Treasury Price” means, with respect to any redemption date: 

(a) the average of the Reference Treasury Dealer Quotations for that redemption date, after excluding the highest and lowest of the Reference
Treasury Dealer Quotations; 
 (b) if the Company obtains fewer than four Reference Treasury Dealer Quotations, the average of all Reference
Treasury Dealer Quotations so received; or 
 (c) if only one such Reference Treasury Dealer Quotation is received, such Reference Treasury
Dealer Quotation. 
 “Independent Investment Banker” means an independent investment banking institution of national standing
appointed by the Company, which may be one of the Reference Treasury Dealers. 
 “Reference Treasury Dealer” means each of
(1) J.P. Morgan Securities LLC, or its affiliates, and their respective successors, (2) Merrill Lynch, Pierce, Fenner & Smith Incorporated, or its affiliates, and their respective successors, and (3) any other primary U.S.
Government securities dealer in The City of New York (a “Primary Treasury Dealer”) selected by the Company; provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company shall substitute therefor
another Primary Treasury Dealer. 

 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any redemption date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by that
Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding that redemption date. 
 The Company shall
mail notice of any redemption at least 30 days but not more than 60 days before the redemption date to each Holder of Notes to be redeemed. Any notice of redemption may, at the Company’s discretion, be conditioned on the satisfaction of one or
more conditions precedent, including, but not limited to, the occurrence or consummation of any event or transaction as described in the notice before the date fixed for the redemption. A notice of conditional redemption will be of no effect unless
all conditions to the redemption have occurred before the redemption date or have been waived by the Company. Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest shall cease to accrue on the
Notes or portions of the Notes called for redemption. 
 If less than all of the Notes are to be redeemed at any time, the Trustee shall
select Notes for redemption on a pro rata basis, by lot or by such method as the Trustee deems fair and appropriate; provided, however, that, so long as the Notes are held in book-entry form, the Notes shall be selected for redemption
in accordance with the Depositary’s then-current practice. 
 Upon the occurrence of a Change of Control Triggering Event (as defined
herein), unless the Company has exercised its right to redeem the Notes, each Holder of Notes will have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such
Holder’s Notes as provided herein (the “Change of Control Offer”) at a purchase price in cash equal to 101% of the aggregate principal amount of such Notes plus accrued and unpaid interest, if any, on such Notes to the date of
purchase (the “Change of Control Payment”). 
 Within 30 days following any Change of Control Triggering Event, the Company
shall send a notice to each Holder of Notes, with a written copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. Such notice shall state: 

(i) a description of the transaction or transactions that constitute such Change of Control Triggering Event; 

(ii) that the Change of Control Offer is being made pursuant to provisions hereof and that all Notes validly tendered will be accepted for
payment; 
 (iii) the Change of Control Payment and the date on which the Change of Control Payment will be made (“Change of
Control Payment Date”), which shall be a Business Day that is no earlier than 30 days nor later than 60 days from the date such notice is sent, other than as may be required by law; 

(iv) that any Note not tendered will continue to accrue interest; 

(v) that any Note accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest on and after the Change of
Control Payment Date unless the Company shall default in the Change of Control Payment and the only remaining right of the Holder thereof is to receive the Change of Control Payment upon surrender of such Note to the Paying Agent; 

 (vi) that Holders of the Notes electing to have a portion of a Note purchased pursuant to a
Change of Control Offer may only elect to have such Note purchased in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof; 

(vii) that if a Holder of Notes elects to have such Notes purchased pursuant to the Change of Control Offer it will be required to
surrender such Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Notes completed, or transfer by book-entry transfer, to the Paying Agent at the address specified in the notice prior to the close of
business on the third Business Day prior to the Change of Control Payment Date; 
 (viii) that a Holder of Notes will be entitled to
withdraw its election if the Company receives, not later than the third Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of such Holder, the principal amount of
Notes such Holder delivered for purchase, and a statement that such Holder is withdrawing its election to have such Notes purchased; and 

(ix) that if Notes are purchased only in part a new Note of the same type will be issued in a principal amount equal to the unpurchased
portion of the Notes surrendered. 
 On the Change of Control Payment Date, the Company shall, to the extent lawful, (i) accept for
payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer, (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof properly tendered
and (iii) deliver or cause to be delivered to the Trustee for cancellation the Notes properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the
Company. The Paying Agent shall promptly send to each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee, upon receipt of an order from the Company, shall promptly authenticate and send (or cause to be
transferred by book entry) to such Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered by such Holder, if any, in denominations as set forth in the Indenture. 

The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act of 1934, as amended (the “Exchange Act”)
and any other applicable securities laws and regulations thereunder to the extent these laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the
provisions of any securities laws or regulations conflict with the Change of Control Triggering Event provisions hereof, the Company and the Guarantor will comply with the applicable securities laws and regulations and will not be deemed to have
breached its or their obligations under the Change of Control Triggering Event provisions hereof by virtue of such conflicts. 
 For all
purposes hereof: 
 “Below Investment Grade Rating Event” means the ratings on the Notes are lowered by each of the Rating Agencies
and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public
notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below
Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for
purposes of the definition of Change of Control Triggering 

 
Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee or the Company in
writing at the Trustee’s or the Company’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or
not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). 
 “Capital
Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options, participation or other equivalents of or interests in (however designated) equity of such Person, including any preferred stock and limited
liability or partnership interests (whether general or limited), but excluding any debt securities convertible into such equity. 

“Change of Control” means the occurrence of any of the following: 

(a) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the Guarantor’s properties or assets and of the Guarantor’s Subsidiaries’ properties or assets taken as a whole to any Person or group of related “persons” (as
that term is used in Section 13(d)(3) of the Exchange Act (a “Group”) other than the Company or Guarantor or one of the their Subsidiaries or a holding company satisfying the conditions of the proviso below; 

(b) the adoption of a plan relating to the liquidation or dissolution of the Guarantor; 

(c) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any
Person or Group (other than the Company or the Guarantor or one of their subsidiaries) becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Company’s or the Guarantor’s
Voting Stock; or 
 (d) the first day on which a majority of the members of the Guarantor’s Board of Directors are not Continuing
Directors. 
 Notwithstanding the foregoing, a transaction will not be considered to be a Change of Control if (1) the Guarantor
becomes a direct or indirect wholly-owned subsidiary of a holding company or transfers all or substantially all of its assets to a holding company and (2) immediately following that transaction, (A) the direct or indirect holders of the
Voting Stock of the holding company are substantially the same as the Holders of the Guarantor’s Voting Stock immediately prior to that transaction or (B) no Person or Group is the beneficial owner, directly or indirectly, of more than 50%
of the Voting Stock of the holding company. 
 “Change of Control Triggering Event” means the occurrence of both a Change of
Control and a Below Investment Grade Rating Event. 
 “Continuing Director” means, as of any date of determination, any member of
the Guarantor’s Board of Directors who (1) was a member of the Guarantor’s Board of Directors on the date of the issuance of the Notes or (2) was nominated for election, elected or appointed to the Guarantor’s Board of
Directors with the approval of a majority of the Continuing Directors who were members of the Guarantor’s Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the
Guarantor’s proxy statement in which such member was named as a nominee for election as a director). 

 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 
 “Moody’s” means Moody’s Investors Service, Inc.
or its successor. 
 “Person” means any individual, corporation, partnership, joint venture, association, joint stock company,
trust, unincorporated organization, limited liability company, government or any agency or political subdivision thereof or any other entity, and includes a “person” as used in Section 13(d)(3) of the Exchange Act. 

“Rating Agencies” means (1) each of Moody’s and S&P and (2) if either of Moody’s or S&P ceases to rate
the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange
Act, selected by the Guarantor (as certified by a resolution of the Guarantor’s Board of Directors) as a replacement agency for Moody’s or S&P or either of them, as the case may be. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. or its successor.

 “Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled to vote in
the election of directors, managers or trustees, as applicable. 
 Unless a Change of Control Triggering Event has occurred, the Holders of
the Notes shall not have the right to demand repayment of the Notes prior to maturity. 
 The Notes will not be entitled to any sinking
fund. 
 In case an Event of Default with respect to the Notes, as defined in the Indenture, shall have occurred and be continuing, the
principal hereof together with interest accrued thereon, if any, may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture. 

The interest rate payable on the Notes shall be subject to adjustments from time to time if either Moody’s or S&P (or, in either case
if applicable, any Substitute Rating Agency (as defined below)) downgrades or subsequently upgrades the debt rating assigned to the Notes, as set forth below. 

If the rating from Moody’s (or any applicable Substitute Rating Agency) of the Notes is decreased to a rating set forth in the
immediately following table, the interest rate on the Notes shall increase from the Original Interest Rate by the percentage set forth opposite that rating: 
  

					
	 Rating
	  	Percentage	 
	 Ba1
	  	 	0.25	% 
	 Ba2
	  	 	0.50	% 
	 Ba3
	  	 	0.75	% 
	 B1 or below
	  	 	1.00	% 

 If the rating from S&P (or any applicable Substitute Rating Agency) of the Notes is decreased
to a rating set forth in the immediately following table, the interest rate on the Notes shall increase from the Original Interest Rate by the percentage set forth opposite that rating: 

 

					
	 Rating
	  	Percentage	 
	 BB+
	  	 	0.25	% 
	 BB
	  	 	0.50	% 
	 BB-
	  	 	0.75	% 
	 B+ or below
	  	 	1.00	% 

 Notwithstanding the foregoing, if at any time the interest rate on the Notes has been adjusted upward and
either Moody’s or S&P (or any applicable Substitute Rating Agency), as the case may be, subsequently increases its rating of the Notes to any of the threshold ratings set forth in the tables above, the interest rate on the Notes shall be
decreased such that the interest rate for the Notes equals the Original Interest Rate plus the percentages set forth opposite the ratings from the tables above in effect immediately following the increase. If Moody’s (or any applicable
Substitute Rating Agency) subsequently increases its rating of the Notes to Baa3 or higher and S&P (or any applicable Substitute Rating Agency) increases its rating to BBB- or higher (or, in either case if applicable, the equivalent rating of
any Substitute Rating Agency) the interest rate on the Notes shall be decreased to the Original Interest Rate. 
 Each adjustment required
by any decrease or increase in a rating set forth above, whether occasioned by the action of Moody’s or S&P (or any applicable Substitute Rating Agency), shall be made independent of any and all other adjustments. In no event shall
(1) the interest rate for the Notes be reduced to below the Original Interest Rate or (2) the total increase in the interest rate on the Notes exceed 2.00% above the Original Interest Rate. 

If either Moody’s or S&P (or any applicable Substitute Rating Agency) ceases to provide a rating of the Notes and a Substitute Rating
Agency is not obtained as provided below, any subsequent increase or decrease in the interest rate of the Notes necessitated by a reduction or increase in the rating by the agency continuing to provide the rating shall be twice the percentage set
forth in the applicable table above. No adjustments in the interest rate of the Notes shall be made solely as a result of either Moody’s or S&P (or any applicable Substitute Rating Agency) ceasing to provide a rating. If none of
Moody’s, S&P or any Substitute Rating Agency provides a rating of the Notes, the interest rate on the Notes shall increase to, or remain at, as the case may be, 2.00% above the Original Interest Rate. 

If at any time either Moody’s or S&P (or any applicable Substitute Rating Agency) ceases to provide a rating of the Notes for reasons
outside of the Company’s control, the Company may, at its option, obtain a rating of the Notes from another nationally recognized statistical rating organization within the meaning of Section 3(a)(62) under the Exchange Act, to the extent
one exists, and if another nationally recognized statistical rating organization rates the Notes (such organization, as certified by the Company in writing to the Trustee, a “Substitute Rating Agency”), for purposes of determining any
increase or decrease in the interest rate on the Notes pursuant to the table above (a) such Substitute Rating Agency will be substituted for the last such rating agency to provide a rating of the Notes but which has since ceased to provide such
rating until such time, if any, as such rating agency resumes providing a rating of the Notes, (b) the relative ratings scale used by such Substitute Rating Agency to assign ratings to senior unsecured debt will be determined in good faith by
an independent investment banking 

 
institution of national standing appointed by the Company and, for purposes of determining the applicable ratings included in the table above with respect to such Substitute Rating Agency, such
ratings shall be deemed to be the equivalent ratings used by Moody’s, S&P or any prior Substitute Rating Agency (if applicable), as the case may be, in such table and for any other purpose described in this section and (c) the interest
rate on the Notes will increase, decrease or remain unchanged, as the case may be, as described above to reflect any change in the appropriate percentage, if any, set forth opposite the rating from such Substitute Rating Agency in the applicable
table above (taking into account the provisions of clause (b) above) compared to the prior percentage, if any, corresponding to the rating agency for which the Substitute Rating Agency has been substituted. If Moody’s or S&P either
ceases to provide a rating of the Notes for reasons within the Company’s control, the Company will not be entitled to obtain a rating from a Substitute Rating Agency and the increase or decrease in the interest rate of the Notes shall be
determined in the manner described above as if either only one or no rating agency provides a rating of the Notes, as the case may be. 

Any interest rate increase or decrease described above shall take effect on the next Business Day after the rating change has occurred. The
Company shall provide written notification to the Trustee of any adjustment to the interest rate promptly following any ratings event requiring such adjustment. 

The interest rate on the Notes shall permanently cease to be subject to any adjustment described above (notwithstanding any subsequent
decrease in the ratings by either or both rating agencies (or any applicable Substitute Rating Agency)) if the Notes become rated Baa1 and BBB+ or higher by Moody’s and S&P, respectively (or, in either case if applicable, the equivalent
rating of any Substitute Rating Agency) (or one of these ratings if only rated by one rating agency), with a stable or positive outlook by each of the rating agencies. 

The Indenture contains provisions permitting the Company, the Guarantor and the Trustee, with the consent of the Holders of not less than a
majority in aggregate principal amount of the outstanding Notes to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or modifying
in any manner the rights of the Holders of the Notes; provided, however, that no such supplemental indenture shall, among other things, (i) reduce the percentage in principal amount of Notes whose Holders must consent to an amendment;
(ii) reduce the rate of or extend the time for payment of interest on any Notes; (iii) reduce the principal of or extend the Stated Maturity of any Notes; (iv) reduce the premium payable upon the redemption of any Notes or change the
time at which any Notes may or will be redeemed; (v) make any Notes payable in Currency other than that stated in the Notes; (vi) release any security that may have been granted in respect of the Notes; or (vii) make any change in any
of the provisions of the Indenture relating to directing the Trustee and waiving defaults or amendments that require unanimous consent. It is also provided in the Indenture that the Holders of a majority in aggregate principal amount of the
Securities of a series at the time outstanding may on behalf of the Holders of all the Securities of such series waive any past default under the Indenture with respect to such series and its consequences, except a default in the payment of the
principal of, premium, if any, or interest, if any, on any Security of such series or in respect of a covenant or provision which cannot be modified without the consent of each Holder affected thereby. Any such consent or waiver by the Holder of
this Note shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Note and any Notes which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon
this Note or such other Notes. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or
impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, if any, and interest on this Note at the place, at the respective times, at the rate and in the coin or currency herein prescribed. 

 The Indenture permits the Company to discharge its obligations with respect to the Notes on the
91st day following the satisfaction of the conditions set forth in the Indenture, which include the deposit with the Trustee of money or U.S. Government Obligations or a combination thereof sufficient to pay and discharge each installment of
principal of (including premium, if any, on) and interest, if any, on the outstanding Notes. 
 If the Company or Guarantor shall, in
accordance with Section 10.01 of the Indenture, consolidate with or merge with or into any other Person or convey, transfer or lease all or substantially all the assets of the Guarantor on a consolidated basis to any Person (other than the
Company or any Subsidiary) the successor shall succeed to, and be substituted for, the Person named as the “Company” on the face of this Note or the Guarantee, as applicable, all on the terms set forth in the Indenture. 

The Notes are issuable in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000. In the manner and
subject to the limitations provided in the Indenture, but without the payment of any service charge, Notes may be exchanged for an equal aggregate principal amount of Notes of other authorized denominations at the office or agency of the Company
maintained for such purpose. 
 Prior to due presentment for registration of transfer of this Note, the Company, the Trustee and any agent
of the Company or the Trustee may deem and treat the registered Holder hereof as the absolute owner of this Note (whether or not this Note shall be overdue) for the purpose of receiving payment of the principal of, premium, if any, and interest on
this Note, as herein provided, and for all other purposes, and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice of the contrary. All payments made to or upon the order of such registered
Holder shall, to the extent of the sum or sums paid, effectually satisfy and discharge liability for moneys payable on this Note. 
 No
recourse for the payment of the principal of, premium, if any, or interest on this Note, or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the
Indenture or any indenture supplemental thereto or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the
Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such
liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released. 
 Unless
otherwise defined in this Note, all terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

 H&R BLOCK, INC., a Missouri corporation (the “Guarantor”, which term includes any
successor under the Indenture (the “Indenture”) referred to in the Note on which this notation is endorsed) has fully and unconditionally guaranteed, pursuant to the terms of the Guarantees contained in Article XIII of the Indenture, the
due and punctual payment of the principal of and any premium and interest on this Note, when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, in
accordance with the terms of this Note and the Indenture. 
 The obligations of the Guarantor to the Holders of the Securities and to the
Trustee pursuant to the Guarantees and the Indenture are expressly set forth in Article XIII of the Indenture, and reference is hereby made to such Article and Indenture for the precise terms of the Guarantees. 

The Guarantees shall not be valid or obligatory for any purpose until the certificate of authentication on the Debt Security upon which this
notation of the Guarantees is endorsed shall have been executed by the Trustee under the Indenture by the manual signature of one of its authorized signatories. 

							
	Dated: September     , 2015	 		 	H&R BLOCK, INC.
				
		 		 	By	 	 
		 		 		 	Name: Gregory J. Macfarlane
		 		 		 	Title:   Chief Financial Officer

 [Global Note] 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations 
 TEN COM — as tenants in common 

TEN ENT — as tenants by the entireties 
 JT TEN — as
joint tenants with right of survivorship and not as tenants in common 
  

									
	UNIF GIFT MIN ACT —  	 	 	 	  Custodian  	 	 	 	
		 	(Cust)	 		 	(Minor)	 	

  

					
	Under Uniform Gifts to Minors Act  	 	 	 	
		 	(State)	 	

 Additional abbreviations may also be used though not in the above list. 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) 

and transfer(s) unto 
  

					
	  
	 		 	  

	 [PLEASE INSERT SOCIAL SECURITY OR
 OTHER
IDENTIFYING NUMBER OF
 ASSIGNEE]
	 		 	 [PLEASE PRINT OR TYPE NAME AND
 ADDRESS
INCLUDING ZIP CODE, OF
 ASSIGNEE]

 Within Note and all rights thereunder, hereby irrevocably constituting and appointing such person attorney to transfer such
note on the books of the Issuer, with full power of substitution in the premises. 
  

					
	  
	 		 	  

	DATE	 		 	SIGNATURE

 NOTICE: The signature must correspond with the name as written upon the face of the within Note in every particular without
alteration or enlargement or any change whatsoever. 

 OPTION OF HOLDER TO ELECT PURCHASE 

If the undersigned wants to elect to have this Note purchased by the Company pursuant to the provisions hereof, check the box below: 

 
  ̈ 

If the undersigned wants to elect to have only part of this Note purchased by the Company pursuant to the provisions hereof, state the amount
the undersigned elects to have purchased: 
 $            

 

			
	Dated:	  	 

  

			
	Signature:	  	 

  

			
	 Tax Identification
 Number:
	  	 

  

			
	 Signature
 Guarantee:
	  	 

 NOTE: The signature to this assignment must correspond exactly with the name as written upon the face of
the within Global Note in every particular without alteration or enlargement or any change whatsoever and must be guaranteed by a commercial bank or trust company having its principal office or correspondent in The City of New York or by a member of
the New York Stock Exchange.Exhibit
10.1

 

SECURITIES
PURCHASE AGREEMENT

 

THIS SECURITIES
PURCHASE AGREEMENT (this “Agreement”) is dated as of September 25, 2015, between Mount Tam Biotechnologies,
Inc., a Nevada corporation (the “Company”), and the purchaser identified on the signature page hereto (including
its successors and assigns, “Purchaser”).

 

WHEREAS,
the Company and Purchaser is executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (“Securities Act”), and Rule 506(b) of
Regulation D (“Regulation D”) as promulgated by the United States Securities and Exchange Commission (the
“SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”); and

 

WHEREAS, Purchaser
wishes to purchase, and the Company wishes to sell, upon the terms and conditions stated in this Agreement, that number of shares
of the common stock, par value $0.0001 per share, of the Company (“Common Stock”), set forth on Purchaser’s
signature page hereto (the “Shares”).

 

NOW, THEREFORE, in
consideration of the foregoing premises and the covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

Article
I

Purchase and Sale of Shares

 

1.1Purchase
of Shares. Subject to the satisfaction (or waiver) of the conditions set forth in Article IV below, the Company shall
issue and sell to Purchaser, and Purchaser agrees to purchase from the Company on the Closing Date (as defined below), the Shares
as is set forth on Purchaser’s signature page hereto (the “Closing”).

 

1.2Purchase
Price. The purchase price for the Shares shall be $0.50 per share, and the aggregate purchase price for the Shares to
be purchased by Purchaser at the Closing (the “Purchase Price”) shall be the amount set forth on Purchaser’s
signature page hereto.

 

1.3The Closing.
The date and time of the Closing (the “Closing Date”) shall be 10:00 a.m., Los Angeles time, on the date hereof
(or such other date and time as is mutually agreed to by the Company and Purchaser) after notification of satisfaction (or waiver)
of the conditions to the Closing set forth in Article IV below, at the offices of LKP Global Law, LLP (the “Firm”),
at 1901 Avenue of the Stars, Suite 480, Los Angeles, California 90067.

 

1.4Pre-Closing
Deliveries. Prior to the Closing Date:

 

(a)The Company shall
deliver to the Firm, the Escrow Agreement among the Company, Purchaser and the Firm as escrow agent in the form of Exhibit A
attached hereto (the “Escrow Agreement”), and this Agreement, each duly executed by the Company.

 

     

     

    

 

(b)Purchaser shall
deliver to the Firm, this Agreement, this Agreement, the Escrow Agreement, and Purchaser Questionnaire in the form of Exhibit
B attached hereto (collectively the “Transaction Documents”), each duly executed by Purchaser, as well as
the Purchase Price.

 

1.5Closing Deliverables.
On the Closing Date:

 

(a)The Company shall
deliver the following:

 

(i)The Release
Notice (as defined in the Escrow Agreement) to the Firm, duly executed by the Company;

 

(ii)A certificate
to Purchaser evidencing the Shares purchased by Purchaser, registered in the name of Purchaser; and

 

(iii)An officer’s
certificate from the Chief Executive Officer, dated as of the Closing Date, to Purchaser certifying and setting forth (A) the names,
signatures and positions of the Persons authorized to execute this Agreement and any other Transaction Documents to which the Company
is a party, (B) a copy of the resolutions by the Board of Directors of the Company authorizing the execution, delivery and performance
of this Agreement and any other Transaction Documents to which the Company is a party, and (C) certifying that the representations
and warranties of the Company are true and correct as of the Closing Date and that the Company has satisfied all of the conditions
to the Closing.

 

(b)Purchaser shall
deliver the Release Notice to the Firm, duly executed by Purchaser.

 

Article
II

Representations and Warranties

 

2.1Representations
and Warranties of the Company. The Company hereby makes the following representations and warranties to Purchaser as of the
date hereof and the Closing Date:

 

(a)Organization
and Qualification; Material Adverse Effect. The Company is a corporation duly incorporated and existing in good standing
under the laws of the State of Nevada and has the requisite corporate power to own its properties and to carry on its business
as now being conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every
jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary other than
those in which the failure so to qualify would not have a Material Adverse Effect. As used herein, “Material Adverse Effect”
means any adverse effect on the business, operations, properties, prospects or financial condition of the Company, and which is
(either alone or together with all other adverse effects) material to the Company, and any material adverse effect on the transactions
contemplated under the Agreement.

 

    	 	2	 

     

    

 

(b)Authorization;
Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform its obligations
under the Agreement and to issue the Shares in accordance with the terms hereof, (ii) the execution and delivery of the Agreement
by the Company and the consummation by it of the transactions contemplated hereby, including the issuance of the Shares, have been
duly authorized by all necessary corporate action, and no further consent or authorization of the Company or its Board of Directors
or shareholders is required, (iii) the Agreement has been duly executed and delivered by the Company, (iv) the Agreement constitutes
valid and binding obligations of the Company enforceable against the Company, except (A) as such enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally
the enforcement of creditors’ rights and remedies or by other equitable principles of general application, and (B) to the
extent the indemnification provisions contained in this Agreement may be limited by applicable federal or state securities laws
and (v) the Shares have been duly authorized and, upon issuance thereof and payment therefor in accordance with the terms of this
Agreement, will be validly issued, fully paid and non-assessable, free and clear of any and all liens, claims and encumbrances.

 

(c)Capitalization.
As of the date hereof, the authorized capital stock of the Company consists of (i) 100,000,000 shares of Common Stock, of which
as of the date hereof, the number of shares set forth on Schedule 2.1(c) are outstanding, and (ii) 5,000,000 shares of preferred
stock, par value $0.0001 per share, none of which are issued and outstanding as of the date hereof. All of such outstanding shares
have been, or upon issuance will be, validly issued, fully paid and nonassessable. As of the date hereof, except as disclosed in
Schedule 2.1(c), (i) no shares of the Company’s capital stock are subject to preemptive rights or any other similar
rights or any liens or encumbrances suffered or permitted by the Company, (ii) there are no outstanding debt securities, (iii)
there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities or rights convertible into, any shares of capital stock of the Company, or contracts, commitments, understandings
or arrangements by which the Company is or may become bound to issue additional shares of capital stock of the Company or options,
warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights
convertible into, any shares of capital stock of the Company, (iv) there are no agreements or arrangements under which the Company
is obligated to register the sale of any of its securities under the Securities Act, (v) there are no outstanding securities of
the Company which contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements
by which the Company is or may become bound to redeem a security of the Company, and (vi) there are no securities or instruments
containing anti-dilution or similar provisions that will be triggered by the issuance or exercise of the Shares as described in
this Agreement.

 

(d)No Conflicts.
The execution, delivery and performance of the Agreement by the Company and the consummation by the Company of the transactions
contemplated hereby and issuance of the Shares will not (i) result in a violation of the Certificate of Incorporation, any certificate
of designations, preferences and rights of any outstanding series of preferred stock of the Company or the By-laws; (ii) conflict
with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to
others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the
Company is a party, or (iii) to the Company’s knowledge result in a violation of any law, rule, regulation, order, judgment
or decree (including United States federal and state securities laws and regulations) applicable to the Company or by which any
property or asset of the Company is bound or affected, except in the case of clause (ii), such conflicts that would not have a
Material Adverse Effect.

 

    	 	3	 

     

    

 

(e)Absence of
Litigation. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government
agency, self-regulatory organization or body pending or, to the knowledge of the Company, threatened against or affecting the Company
or any of its officers or directors in their capacities as such.

 

(f)Intellectual
Property Rights. The Company owns or possesses adequate rights or licenses to use all trademarks, trade names, service marks,
service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals, governmental authorizations,
trade secrets and rights necessary to conduct its business as now conducted. The Company does not have any knowledge of any infringement
by it of trademarks, trade name rights, patents, patent rights, copyrights, inventions, licenses, service names, service marks,
service mark registrations, trade secret or other similar rights of others, or of any such development of similar or identical
trade secrets or technical information by others, and there is no claim, action or proceeding being made or brought against, or
to the Company’s knowledge, being threatened against, the Company regarding trademarks, trade name rights, patents, patent
rights, inventions, copyrights, licenses, service names, service marks, service mark registrations, trade secrets or other infringement.

 

(g)Compliance
with Law. The business of the Company has been and is presently being conducted so as to comply with all applicable material
foreign, federal, state and local governmental laws, rules, regulations and ordinances.

 

(h)Disclosure.
No representation or warranty by the Company in this Agreement, nor in any certificate, schedule, document, exhibit or other instrument
delivered or to be delivered pursuant to this Agreement or otherwise in connection with the transactions contemplated by the Agreement,
contains or will contain any untrue statement of material fact or omits or will omit to state a material fact necessary to make
the statements contained herein or therein not misleading or necessary to in order fully and fairly to provide the information
required to be provided in any such certificate, schedule, document, exhibit or other instrument. To the knowledge of the Company
at the time of the execution of this Agreement, there is no information concerning the Company or its business which has not heretofore
been disclosed to Purchaser that would have a Material Adverse Effect.

 

(i)Title.
The Company has good and marketable title in fee simple to all real property and good and marketable title to all personal property
owned by it which is material to its business, in each case free and clear of all liens, encumbrances and defects except such as
do not materially and adversely affect the value of such property and do not interfere with the use made and proposed to be made
of such property by the Company. Any real property and facilities held under lease by the Company are held by them under valid,
subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed
to be made of such property and buildings by the Company.

 

    	 	4	 

     

    

 

(j)Permits.
The Company owns, holds, possesses, or lawfully uses in its business all material approvals, authorizations, certifications, franchises,
licenses, permits, and similar authorities (“Permits”) that are necessary for the conduct of its business as
currently conducted or the ownership and use of its assets or properties, in compliance with all laws. The Company is not in default
under, or has received any notice of any claim of default in respect of, any such Permits. To the Company’s knowledge, after
due inquiry, all such Permits are renewable by their respective terms in the ordinary course of business without the need to comply
with any special qualification procedures or to pay any amounts other than routine filing fees.

 

(k)Absence of
Undisclosed Liabilities. The Company has no obligations or liabilities of any nature (matured, fixed or contingent) other than
those obligations incurred in the ordinary course of business in amounts consistent with prior periods which have not had and will
not have a Material Adverse Effect on the Company.

 

(l)Restrictions
on Business Activities. There is no judgment, order, decree, writ or injunction binding upon the Company or, to the knowledge
of the Company, threatened that has or could prohibit or impair of its business as the conduct currently conducted or any of its
business practice, including the acquisition of property, the provision of services, the hiring of employees or the solicitation
of clients, in each case either individually or in the aggregate.

 

(m)Private Placement.
Assuming the accuracy of Purchaser’s representations and warranties set forth in Section 2.2, no registration under
the Securities Act is required for the offer and sale of the Shares by the Company to Purchaser as contemplated hereby.

 

(n)No Integrated
Offering. Assuming the accuracy of Purchaser’s representations and warranties set forth in Section 2.2, neither
the Company, nor any Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales
of any security or solicited any offers to buy any security, under circumstances that would cause this offering of the Shares to
be integrated with prior offerings by the Company for purposes of the Securities Act which would require the registration of any
such securities under the Securities Act.

 

(o)No General
Solicitation. Neither the Company nor any Person acting on its behalf has offered or sold any Share by any form of general
solicitation or general advertising. The Company has offered the Shares for sale only to Purchaser and certain other “accredited
investors” within the meaning of Rule 501 under the Securities Act.

 

2.2Representations
and Warranties of Purchaser. Purchaser hereby makes the following representations and warranties to the Company as of the date
hereof and the Closing Date:

 

(a)Organization;
Authority. If Purchaser is an entity, it is an entity duly organized, validly existing and in good standing under the laws
of the jurisdiction of its organization with full right, corporate or partnership power and authority to enter into and to consummate
the transactions contemplated by the Agreement and otherwise to carry out its obligations hereunder. The execution and delivery
of the Agreement and performance by Purchaser of the transactions contemplated by the Agreement has been duly authorized by all
necessary corporate or similar action on the part of Purchaser. The Agreement has been duly executed by Purchaser, and when delivered
by Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of Purchaser, enforceable
against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii)
as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii)
insofar as indemnification and contribution provisions may be limited by applicable law.

 

    	 	5	 

     

    

 

(a)No Conflicts.
The execution, delivery and performance of the Agreement by Purchaser and the consummation by Purchaser of the transactions contemplated
hereby will not (i) result in a violation of the certificate of incorporation, by-laws or other documents of organization of Purchaser,
(ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under,
or give others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to
which Purchaser is bound, or (iii) result in a violation of any law, rule, regulation or decree applicable to Purchaser.

 

(b)Purchaser Status.
At the time Purchaser was offered the Shares, it was, and as of the date hereof it is, either: (i) an “accredited investor”
as defined in Rule 501(a) under the Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a)
under the Securities Act. Purchaser is not required to be registered as a broker-dealer under Section 15 of the Exchange Act, is
not affiliated with any broker-dealer registered under Section 15 of the Exchange Act, and is not a member of the Financial Industry
Regulatory Authority, Inc.

 

(c)Information.
Purchaser and its advisors, if any, have been furnished with all materials relating to the business, finances and operations of
the Company which have been requested and materials relating to the offer and sale of the Shares which have been requested by Purchaser.
Purchaser and its advisors, if any, have been afforded the opportunity to ask questions of the Company. In determining whether
to enter into this Agreement and purchase the Shares, Purchaser has relied solely on the written information supplied by Company
employees in response to any written due diligence information request provided by Purchaser to the Company, and Purchaser has
not received nor relied upon any oral representation or warranty relating to the Company, this Agreement or any other Transaction
Document, the Shares, or any of the transactions or relationships contemplated thereby. Purchaser understands that its purchase
of the Shares involves a high degree of risk. Purchaser has sought such accounting, legal and tax advice as it has considered necessary
to make an informed investment decision with respect to its acquisition of the Shares.

 

(d)Experience
of Purchaser. Purchaser, either alone or together with its representatives (who satisfy all of the affiliation, financial experience,
acknowledgment and disclosure conditions set forth under Rule 501(i) of Regulation D under the Securities Act), has such knowledge,
sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective
investment in the Shares, and has so evaluated the merits and risks of such investment. Purchaser is able to bear the economic
risk of an investment in the Shares and, at the present time, is able to afford a complete loss of such investment.

 

    	 	6	 

     

    

 

(e)General Solicitation.
Purchaser is not purchasing the Shares as a result of any advertisement, article, notice or other communication regarding the Shares
published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any
other general solicitation or general advertisement.

 

(f)No Governmental
Review. Purchaser understands that no United States federal or state agency or any other government or governmental agency
has passed on or made any recommendation or endorsement of the Shares or the fairness or suitability of the investment in the Shares,
nor have such authorities passed upon or endorsed the merits thereof.

 

(g)Investment
Representation. Purchaser is purchasing the Shares for its own account for investment and not with a view to distribution
or sale in violation of the Securities Act or any state securities laws or rules and regulations promulgated thereunder. Purchaser
has been advised and understands that the Shares will not be registered under the Securities Act or under the “blue sky”
laws of any jurisdiction and may be resold only if registered pursuant to the provisions of the Securities Act or if an exemption
from registration is available, except under circumstances where neither such registration nor such an exemption is required by
law. Purchaser has been advised and understands that the Company, in issuing the Shares, is relying upon, among other things, the
representations and warranties of Purchaser contained in this Section 2.2 in concluding that such issuance is a “private
offering” and is exempt from the registration provisions of the Securities Act.

 

(h)Transfer or
Resale. Purchaser understands that: (i) the Shares have not been and are not being registered under the Securities Act or any
state securities laws, and may not be offered for sale, sold, assigned or transferred unless (A) subsequently registered thereunder,
(B) Purchaser shall have delivered to the Company an opinion of counsel, in a generally acceptable form, to the effect that the
Shares to be sold, assigned or transferred may be sold, assigned or transferred pursuant to an exemption from such registration,
or (C) Purchaser provides the Company with reasonable assurance that such Shares can be sold, assigned or transferred pursuant
to Rule 144 or Rule 144A promulgated under the Securities Act (collectively, “Rule 144”); (ii) any sale of the
Shares made in reliance on Rule 144 may be made only in accordance with the terms of Rule 144 and further, if Rule 144 is not applicable,
any resale of the Shares under circumstances in which the seller (or the Person through whom the sale is made) may be deemed to
be an underwriter (as that term is defined in the Securities Act) may require compliance with some other exemption under the Securities
Act or the rules and regulations of the SEC thereunder; and (iii) neither the Company nor any other Person is under any obligation
to register the Shares under the Securities Act or any state securities laws or to comply with the terms and conditions of any
exemption thereunder. For purposes of this Agreement, “Person” means an individual, a limited liability company,
a partnership, a joint venture, a corporation, a trust, an unincorporated organization and a government or any department or agency
thereof.

 

    	 	7	 

     

    

 

(i)Commissions
and Finder’s Fees. Purchaser has taken no action which would give rise to any claim by any Person for brokerage commissions,
finder’s fees or similar payments by the Company or Purchaser relating to this Agreement or the transactions contemplated
hereby.

 

(j)Short Sales
and Confidentiality Prior To Date Hereof. Other than consummating the transactions contemplated hereunder, Purchaser has not
directly or indirectly, nor has any Person acting on behalf of or pursuant to any understanding with Purchaser, executed any purchases
or sales, including short sales (as defined in Rule 200 of Regulation SHO under the Exchange Act) and any other transaction designed
to hedge the risk of ownership, however structured, of the securities of the Company during the period commencing from the
time that Purchaser first received a term sheet (written or oral) from the Company or any other Person representing the Company
setting forth the material terms of the transactions contemplated hereunder until the date hereof. Notwithstanding the foregoing,
in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions
of Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio
managers managing other portions of Purchaser’s assets, the representation set forth above shall only apply with respect
to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Shares covered by this
Agreement. Other than to other Persons party to this Agreement, Purchaser has maintained the confidentiality of all disclosures
made to it in connection with this transaction (including the existence and terms of this transaction).

 

(k)Reliance by
the Company. Purchaser understands that the Shares are being offered and sold in reliance on a transactional exemption
from the registration requirements of Federal and state securities laws and that the Company is relying upon the truth and accuracy
of the representations, warranties, agreements, acknowledgments and understandings of Purchaser set forth herein in order to determine
the applicability of such exemptions and the suitability of Purchaser to acquire the Shares.

 

(l)Correctness
of Representations and Information. Purchaser represents that the representations and warranties of this Section 2.2
and the information provided by Purchaser on the signature page hereof and Purchaser Questionnaire are true and correct as of the
date hereof and, unless Purchaser otherwise notifies the Company prior to the Closing Date, shall be true and correct as of the
Closing Date.

 

Article
III

Covenants

 

3.1Best Efforts.
Each party shall use its best efforts timely to satisfy each of the covenants and the conditions to be satisfied by it as provided
in Article IV of this Agreement.

 

3.2Form D; Blue
Sky Laws. The Company agrees to file a Form D with respect to the Shares in accordance with Regulation D. The Company shall,
on or before the Closing Date, take such action as the Company shall have reasonably determined is necessary to qualify the Shares
to Purchaser under applicable securities or “blue sky” laws of the states of the United States (or to obtain an exemption
from such qualification); provided, however, that the Company shall not be required in connection therewith to register
or qualify as a foreign corporation in any jurisdiction where it is not now so qualified or to take any action that would subject
it to service of process in suits or taxation, in each case, in any jurisdiction where it is not now so subject.

 

    	 	8	 

     

    

 

Article
IV

Conditions to Closings

 

4.1Conditions
Precedent to the Obligation of the Company to Sell. The obligation hereunder of the Company to issue and sell the Shares to
Purchaser at the Closing is subject to the satisfaction, at or before the Closing, of each of the applicable conditions set forth
below. These conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion.

 

(a)Accuracy of
Purchaser’s Representations and Warranties. The representations and warranties of Purchaser will be true and correct
in all material respects as of the date when made and as of the Closing Date, as though made at that time.

 

(b)Performance
by Purchaser. Purchaser shall have performed all agreements and satisfied all conditions required to be performed or
satisfied by Purchaser at or prior to the Closing, including full payment of the Purchase Price to the Company as provided herein.

 

(c)No Injunction.
No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed
by any court or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions contemplated
by this Agreement.

 

4.2Conditions
Precedent to the Obligation of Purchaser to Purchase. The obligation hereunder of Purchaser to acquire and pay for the Shares
at the Closing is subject to the satisfaction, at or before the Closing, of each of the Company’s agreements contained herein
required to be performed on or prior to the Closing Date as well as the applicable conditions set forth below. These conditions
are for Purchaser’s benefit and may be waived by Purchaser at any time.

 

(a)Accuracy of
the Company’s Representations and Warranties. The representations and warranties of the Company shall be true
and correct in all material respects as of the date when made and as of the Closing Date as though made at that time (except for
representations and warranties as of an earlier date, which shall be true and correct in all material respects as of such date).

 

(b)No Injunction.
No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed
by any court or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions contemplated
by this Agreement.  

 

(c)No Material
Adverse Change. There shall not have occurred any event prior to the Closing which, singly or taken together with any other
event, could reasonably be expected to have a Material Adverse Effect.

 

    	 	9	 

     

    

 

Article
V

Legend

 

5.1Legends.
Upon payment therefor as provided in this Agreement, the Company will issue the Shares in the name of Purchaser or its designees
and in such denominations to be specified by Purchaser prior to (or from time to time subsequent to) Closing, which shall be stamped
or otherwise imprinted with a legend in substantially the following form:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE
SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION D PROMULGATED UNDER
THE SECURITIES ACT, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT, OR PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM REGISTRATION;
HEDGING TRANSACTIONS INVOLVING THE SHARES REPRESENTED HEREBY MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

 

The Company agrees
to reissue the Shares without the legend set forth above, at such time as (i) the holder thereof is permitted to dispose of such
securities pursuant to Rule 144(b)(i) under the Securities Act, or (ii) such securities are sold to a purchaser or purchasers who
(in the opinion of counsel to the seller or such purchaser(s), in form and substance reasonably satisfactory to the Company and
its counsel) are able to dispose of such securities publicly without registration under the Securities Act, or (iii) such securities
have been registered under the Securities Act.

 

Article
VI

Indemnification

 

6.1Company
Indemnification. In consideration of Purchaser’s execution and delivery of the this Agreement and acquiring the Shares
hereunder and in addition to all of the Company’s other obligations under the Agreement, the Company shall defend, protect,
indemnify and hold harmless Purchaser and all of their respective partners, officers, directors, employees, members and direct
or indirect investors and any of the foregoing Person’s agents or other representatives (including, without limitation, those
retained in connection with the transactions contemplated by this Agreement) (collectively, the “Purchaser Indemnitees”)
from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages,
and expenses in connection therewith (irrespective of whether any Purchaser Indemnitee is a party to the action for which indemnification
hereunder is sought), and including reasonable attorneys’ fees and disbursements (the “Purchaser Indemnified Liabilities”),
incurred by any Purchaser Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any
representation or warranty made by the Company in the Agreement or any other certificate or document contemplated hereby or thereby,
(b) any breach of any covenant, agreement or obligation of the Company contained in the Agreement or any other certificate or document
contemplated hereby or thereby. Notwithstanding the foregoing, Purchaser Indemnified Liabilities shall not include any liability
of any Purchaser Indemnitee arising out of Purchaser Indemnitee’s gross negligence or willful misconduct. To the extent that
the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to
the payment and satisfaction of each of Purchaser Indemnified Liabilities which is permissible under applicable law.

 

    	 	10	 

     

    

 

6.2Purchaser
Indemnification. In consideration of the Company’s execution and delivery of this Agreement and issuing the Shares hereunder
and in addition to all of Purchaser’s other obligations under the Agreement, Purchaser shall defend, protect, indemnify and
hold harmless the Company and all of its partners, officers, directors, employees, members and direct and indirect investors and
any of the foregoing Person’s agents or other representatives (including, without limitation, those retained in connection
with the transactions contemplated by this Agreement) (collectively, the “Company Indemnitees”) from and against
any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in
connection therewith (irrespective of whether any such Company Indemnitee is a party to the action for which indemnification hereunder
is sought), and including reasonable attorney’s fees and disbursements (the “Company Indemnified Liabilities”),
incurred by any Company Indemnitee relating to violations of the Securities Act, as a result of, or arising out of, or relating
to (a) any misrepresentation or breach of any representation or warranty made by Purchaser in the Agreement or any other certificate
or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of Purchaser contained in the
Agreement or any other certificate or document contemplated hereby or thereby. Notwithstanding the foregoing, Company Indemnified
Liabilities shall not include any liability of any Company Indemnitee arising out of such Company Indemnitee’s gross negligence
or willful misconduct and Purchaser shall only be required to make indemnification to the extent of the aggregate dollar amount
of Purchaser’s Purchase Price. To the extent that the foregoing undertaking by Purchaser may be unenforceable for any reason,
Purchaser shall make the maximum contribution to the payment and satisfaction of each of the Company Indemnified Liabilities which
is permissible under applicable law.

 

Article
VII

Governing Law; Miscellaneous

 

7.1Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada applicable to contracts
to be wholly performed within such state and without regard to conflicts of laws provisions. Any legal action or proceeding arising
out of or relating to this Agreement may be instituted in the courts of the State of California sitting in Marin County or in the
United States district court for the Northern District of California, and the parties hereto irrevocably submit to the jurisdiction
of each such court in any action or proceeding. Purchaser hereby irrevocably waives and agrees not to assert, by way of motion,
as a defense, or otherwise, in every suit, action or other proceeding arising out of or based on this Agreement and brought in
any such court, any claim that Purchaser is not subject personally to the jurisdiction of the above named courts, that the suit,
action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper.

 

    	 	11	 

     

    

 

7.2Counterparts.
This Agreement may be executed by facsimile and in any number of counterparts, and each such counterpart hereof shall be deemed
to be an original instrument, but all such counterparts together shall constitute one agreement. Execution and delivery of this
Agreement by facsimile transmission (including delivery of documents in Adobe PDF format) shall constitute execution and delivery
of this Agreement for all purposes, with the same force and effect as execution and delivery of an original manually signed copy
hereof.

 

7.3Headings.
The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this
Agreement.

 

7.4Severability.
If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall
not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability
of any provision of this Agreement in any other jurisdiction.

 

7.5Costs and
Expenses. All reasonable out-of-pocket costs and expenses incurred by Axiom and Purchaser with respect to this Agreement and
the transactions contemplated by this Agreement shall be paid by the Company at the Closing.

 

7.6Entire Agreement;
Amendments; Waivers. This Agreement supersedes all other prior oral or written agreements between Purchaser, the Company, their
affiliates and Persons acting on their behalf with respect to the matters discussed herein, and this Agreement and the instruments
referenced herein contain the entire understanding of the parties with respect to the matters covered herein and therein and, except
as specifically set forth herein or therein, neither the Company nor any Purchaser makes any representation, warranty, covenant
or undertaking with respect to such matters. No provision of this Agreement may be amended other than by an instrument in writing
signed by the Company and Purchaser, and no provision hereof may be waived other than by an instrument in writing signed by the
party against whom enforcement is sought.

 

7.7Notices.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing, must be delivered by (i) courier, mail or hand delivery or (ii) facsimile, and will be deemed to have been
delivered upon receipt. The addresses and facsimile numbers for such communications shall be:

 

If to the Company:

 

To the address set forth on the
Company’s signature page to the Agreement.

 

If to Purchaser:

 

To the address of Purchaser set
forth on Purchaser’s signature page to the Agreement.

 

or at such other address and/or facsimile
number and/or to the attention of such other Person as the recipient party has specified by written notice given to each other
party three (3) business days prior to the effectiveness of such change. Written confirmation of receipt (i) given by the recipient
of such notice, consent, waiver or other communication, (ii) mechanically or electronically generated by the sender's facsimile
machine containing the time, date, recipient facsimile number and an image of the first page of such transmission or (iii) provided
by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by facsimile or
receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii)
above, respectively.

 

    	 	12	 

     

    

 

7.8Successors
and Assigns; No Third Party Beneficiaries. This Agreement shall be binding upon and inure to the benefit of the parties and
their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by,
any other Person.

 

7.9Survival.
The representations, warranties, rights to indemnification and agreements of the Company and Purchaser contained in the Agreement
shall survive the delivery of the Shares.

 

7.10Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

7.11No Strict
Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party.

 

7.12Days.
Unless the context refers to “business days,” all references herein to “days” shall mean calendar days.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	13	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

 

	
        MOUNT TAM BIOTECHNOLOGIES, INC.

         
	
        Address for Notice:

         

	
        By: /s/ Timothy Powers

        Name: Timothy Powers

        Title: Chief Executive Officer
	
        Mount Tam Biotechnologies, Inc.

        8001 Redwood Boulevard

        Novato, California 94925

        Attention: Chief Executive Officer

        Telephone: (310) 800-7175

        Facsimile:
(866) 212-6489 

 

 

 

 

 

 

 

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

    	 	14	 

     

    

 

IN WITNESS WHEREOF,
the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as
of the date first indicated above.

 

	Name of Purchaser: 	0851229 BC Ltd

(Exact name as it should appear in the records
of the Company)

 

	Signature of Authorized Signatory of Purchaser:	/s/ Doug Froese
	 	 
	Name and Title of Authorized Signatory: 	Doug Froese
	 	 
	Title of Authorized Signatory: 	Director
	 	 
	Purchase Price: 	$100,000
	 	 
	Number of Shares: 	200,000

  

 

    	 	15	 

     

    

 

SCHEDULE 2.1(c)

 

(Capitalization)

 

Outstanding Common
Stock:

 

42,001,575 shares.

 

Outstanding options:

 

The Company’s Chief
Executive Officer is entitled to options to purchase up to 1,160,000 shares of Common Stock.

 

Outstanding rights:

 

Under Section 6.2 of
the Research and Collaboration and License Agreement between Mount Tam Biotechnologies, Inc., a Delaware corporation and the Company’s
wholly owned subsidiary (“Subsidiary”), and Buck Institute for Research on Aging the (“Buck Institute”),
and dated August 17, 2014 (the “License Agreement”), the equity interests in Subsidiary held by Buck Institute
“will not be reduced below five percent (5%) of the total aggregate Shares until such time as Subsidiary has raised and received
a total of five million dollars ($5,000,000) of investments in equity, debts, grants, contributions, or donations.” From
and after the Company’s acquisition of Subsidiary on August 13, 2015, Buck Institute shall be entitled to such right with
respect to issuance of shares of Common Stock.

 

 

 

    	 	16

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