Document:

reta-ex102_204.htm

Exhibit 10.2

 

AMENDMENT NO. 2 TO 2009 LICENSE AGREEMENT

 

Amendment No. 2, dated as of August 17, 2021 (this “Amendment”), to the Reata Pharmaceuticals, Inc. - Dartmouth Exclusive License Agreement, effective December 16, 2009, as amended by the Amendment No. 1 to 2009 License Agreement dated as of July 9, 2012 (as so amended, the “License Agreement”), by and between Trustees of Dartmouth College (“DARTMOUTH”), said college being a non-profit educational and research institution existing under the laws of the State of New Hampshire, Hanover, New Hampshire 03755, and Reata Pharmaceuticals, Inc. (“REATA”), a Delaware corporation having a principal place of business located at 5320 Legacy Drive, Plano, Texas 75024.

 

WHEREAS, as part of a corporate reorganization (the “Transaction”), REATA anticipates assigning certain intellectual property rights and agreements, including the License Agreement (the “Assignment”), to its wholly-owned subsidiary, [***] (“Reata Sub”) pursuant to a Contribution Agreement (hereinafter defined).  Upon the closing of the Transaction, Reata Sub will assume all obligations of REATA under the License Agreement arising from and after the closing of the Transaction.  However, REATA will remain liable for and guarantee all obligations under the License Agreement assumed by Reata Sub.

 

WHEREAS, prior to the Assignment, REATA has sublicensed its rights under the License Agreement (pursuant to Section 2.02 thereof) to [***] (“[***] Sub”), a newly-formed indirect wholly-owned subsidiary of REATA (the agreement giving effect to such sublicense, the “Sublicense”).  The Sublicense will be assigned from REATA to Reata Sub as part of the Assignment.

 

WHEREAS, under the License Agreement, DARTMOUTH’s consent is required for REATA to assign the License Agreement to Reata Sub.

 

WHEREAS, DARTMOUTH desires to monetize (a “Monetization”) all or a portion of its rights to receive running royalties under Section 5.01(f) of the License Agreement, milestone payments under Section 5.01(g) of the License Agreement and payments related thereto (collectively, the “Receivables”), including by means of an assignment of such Receivables, and such a Monetization may take the form of a direct sale, a loan or otherwise.

 

WHEREAS, DARTMOUTH agrees to consent to the assignment of the License Agreement as amended by this Amendment (the “Amended License Agreement”) by REATA to Reata Sub on the terms and conditions specified in this Amendment and in the Amended License Agreement.

 

WHEREAS, the parties now wish to amend the License Agreement to, among other things, (i) reflect the Assignment, (ii) include a guarantee granted by REATA of the obligations of Reata Sub under the Amended License Agreement, (iii) amend the use of certain defined terms, (iv) amend the definition of NET SALES, (v) clarify that there is no minimum royalties provision, (vi) provide for payment by wire transfer and delivery of notices and other communications by email, (vii) specify the information to be included in the royalty reports required to be delivered under Section 5.02 of the License Agreement, (viii) add provisions regarding the defense of Dartmouth 

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Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 

 

 

 
 
 

 

Patent Rights, (ix) specify the foreign currency exchange rates to be applied in calculating running royalties due under Section 5.01(f) of the License Agreement and milestone payments due under Section 5.01(g) of the License Agreement and (x) revise the confidentiality provisions of the License Agreement to permit the disclosure of certain information in connection with a Monetization, in each case on the terms and conditions specified in this Amendment and in the Amended License Agreement.

 

NOW, THEREFORE, in consideration of the recitals above and the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, do hereby agree as follows:

 

1.Definitions.  Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Amended License Agreement.

 

2.Consent to Assignment.  DARTMOUTH hereby consents, under Section 10.03 of the Amended License Agreement, to the assignment of the Amended License Agreement by REATA to Reata Sub.  REATA shall ensure that, on the effective date of the Contribution Agreement, Reata Sub assumes all obligations of REATA under the Amended License Agreement (other than those set forth in Article XII of the Amended License Agreement) arising from and after the closing of the Transaction.  REATA hereby agrees to (i) remain liable for and guarantee all obligations under the Amended License Agreement assumed by Reata Sub and (ii) on the effective date of the Contribution Agreement, deliver to DARTMOUTH a contribution agreement duly executed by REATA and Reata Sub that is in the form of the contribution agreement attached hereto as Exhibit B (the “Contribution Agreement”).

 

3.Amendment to Company and Reata Definition.  With effect from and after the effective date of the Contribution Agreement, the definition of the terms “Company” and “Reata” in the preamble of the License Agreement is hereby amended and restated in its entirety as follows:

 

“[***], a Delaware limited liability company, with a principal place of business at 5320 Legacy Drive, Plano, Texas 75024; hereinafter called Company or Reata.”

 

4.REATA Guaranty.  With effect from and after the effective date of the Contribution Agreement, the following new Article XII is hereby added to the License Agreement: 

 

“ARTICLE XII.Guaranty

 

Section 12.01The Guaranty.

 

(a)Reata Pharmaceuticals, Inc. (“Guarantor”) hereby unconditionally guarantees the full and punctual payment (upon demand or otherwise) of all of the payment obligations of Company payable under this Agreement (the “Payment Obligations”).  Upon failure by Company to pay punctually any such Payment Obligation, Guarantor shall forthwith on demand pay the amount not so paid at the place and in the manner and the currency specified in this Agreement.

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 
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(b)Guarantor hereby unconditionally guarantees the full and punctual performance (upon demand or otherwise) of all other obligations of Company under this Agreement (the “Performance Obligations” and together with the Payment Obligations, the “Company Obligations”).  Upon failure by Company to perform punctually any such Performance Obligation, Guarantor shall forthwith on demand perform such Performance Obligation in the manner specified in this Agreement.

 

Section 12.02Guaranty Unconditional.  The obligations of Guarantor under this Article XII shall be unconditional and absolute and, without limiting the generality of the foregoing, shall not be released, discharged or otherwise affected by:

 

(a)any extension, renewal, settlement, compromise, waiver or release in respect of any Company Obligation, by operation of law or otherwise; provided, however, that the release by Dartmouth in writing of Company in respect of any Company Obligation under this Agreement shall also operate to release Guarantor from its obligations hereunder in respect of such Company Obligation;

 

(b)any modification or amendment of or supplement to this Agreement or any other document referred to herein; provided, however, that the release by Dartmouth in writing of Company in respect of any Company Obligation under this Agreement shall also operate to release Guarantor from its obligations hereunder in respect of such Company Obligation;

 

(c)any change in the existence, structure or ownership of Company, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting Company or its assets or any resulting release or discharge of any Company Obligation;

 

(d)the existence of any claim, set-off or other rights which Guarantor may have at any time against Company, Dartmouth or any other corporation, entity or person, whether in connection herewith or any unrelated transaction, provided that nothing herein shall prevent the assertion of any such claim by separate suit or compulsory counterclaim;

 

(e)any invalidity or unenforceability relating to or against Company for any reason of this Agreement, or any provision of applicable law or regulation purporting to prohibit the payment by Company of any Payment Obligation or the performance by Company of any of its other Company Obligations under this Agreement; or

 

(f)any other act or omission to act or delay of any kind by Company, Dartmouth or any other corporation, entity or person or any other circumstance whatsoever which might, but for the provisions of this paragraph, constitute a legal or equitable discharge of Guarantor’s obligations hereunder.

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 
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Section 12.03Discharge Only Upon Payment in Full; Reinstatement In Certain Circumstances.  Guarantor’s obligations under Section 12.01 shall remain in full force and effect until all Company Obligations have been irrevocably and unconditionally satisfied and paid in full.  If at any time any payment made of any Company Obligation is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of Company or otherwise, Guarantor’s obligations hereunder with respect to such payment shall be reinstated as though such payment had been due but not made at such time.

 

Section 12.04Waiver by Guarantor.  Guarantor irrevocably waives acceptance hereof, presentment, demand, protest and any notice not expressly provided for herein, as well as any requirement that at any time any action be taken by Dartmouth or any other corporation, entity or person against Company or any other corporation, entity or person.

 

Section 12.05Subrogation.  Upon making any payment hereunder with respect to Company, Guarantor shall be subrogated to the rights of Dartmouth against Company with respect to such payment; provided that Guarantor shall not enforce any payment right by way of subrogation until all Company Obligations have been paid in full.

 

Section 12.06Confirmation by Guarantor.  Guarantor confirms, acknowledges and agrees that the provisions of this Article XII constitute obligations of Guarantor (and have not been, and will not be, assigned to, or assumed by, Company pursuant to the Contribution Agreement referred to in Section 2 of Amendment No. 2 to this Agreement).”

 

5.Other Amendments.  With effect from and after the date hereof, the License Agreement is hereby amended as follows:

 

(a)Section 1.06 of the License Agreement is hereby amended by replacing each reference to “LICENSEE” therein with a reference to “Company”.

 

(b)Section 1.08 of the License Agreement is hereby amended and restated in its entirety as follows: 

 

“1.08“Net Sales” means, with respect to a Licensed Product for any period in any country, the total amount billed or invoiced on sales of such Licensed Product during such period by Company or its Affiliates or its or their Sublicensees/Distributors in such country to third parties (including wholesalers or distributors who are not Sublicensees/Distributors) in bona fide arm’s length transactions, less the following deductions, in each case to the extent such deductions relate specifically to such Licensed Product in such country and are actually allowed and taken by such third parties and are not otherwise recovered by or reimbursed to Company or its Affiliates or its or their Sublicensees/Distributors:  

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 
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(a)trade, cash and quantity discounts;

(b)price reductions or rebates, retroactive or otherwise, imposed by, negotiated with or otherwise paid to governmental authorities; 

(c)taxes on sales (such as sales, value added, or use taxes) to the extent added to the sale price and set forth separately as such in the total amount invoiced;

(d)freight, insurance, and other transportation charges to the extent added to the sale price and set forth separately as such in the total amount invoiced, as well as any fees for services provided by wholesalers and warehousing chains related to the distribution of such Licensed Product;

(e)amounts repaid or credited by reason of rejections, defects, one percent (1%) return goods allowance, recalls or returns, or because of retroactive price reductions, including rebates or wholesaler charge backs; and 

(f)any invoiced amounts from a prior period that are written off or reserved as not collectable by Company or its Affiliates or its or their Sublicensees/Distributors, including bad debts.

Net Sales shall include the amount or fair market value of all other consideration received by Company or its Affiliates or its or their Sublicensees/Distributors in respect of such Licensed Product, whether such consideration is in cash, payment in kind, exchange, or other form.  Net Sales shall not include transfers or dispositions for charitable, promotional, pre-clinical, clinical, regulatory, or governmental purposes so long as such transfer or disposition is made at or below  cost.  Net Sales shall not include sales between or among Company or its Affiliates or its or their Sublicensees/Distributors so long as such Affiliates or Sublicensees/Distributors are not end-users of such Licensed Product.  Subject to the above, Net Sales shall be calculated in accordance with the standard internal policies and procedures of Company or its Affiliates or its or their Sublicensees/Distributors, which must be in accordance with GAAP and consistently applied.  

i.If a Licensed Product is sold as a Combination Product for any period in any country, the Net Sales for such Combination Product will be calculated as follows: If Company, its Affiliates, or Sublicensees/Distributors separately sells in such country, (x) Licensed Products containing as its sole active ingredient the compound covered by or made, in whole or in part, by the use of Dartmouth Patent Rights or by the use of Dartmouth Know-How contained in such Combination Product (the “Mono Product”) and (y) products containing as their sole active ingredients the other active ingredient(s) in such Combination Product, the Net Sales attributable to such Combination Product shall be calculated by multiplying actual Net Sales of such Combination Product by the fraction A/(A+B) where: A is Company’s (or its Affiliate’s or 

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 
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Sublicensees/Distributor’s, as applicable) average Net Sales price during the period to which the Net Sales calculation applies for the Mono Product(s) in such country and B is Company’s (or its Affiliate’s or Sublicensees/Distributor’s, as applicable) average Net Sales price during the period to which the Net Sales calculation applies in such country, for products that contain as their sole active ingredient(s) the other active ingredient(s) in such Combination Product.

ii.If Company, its Affiliates, or Sublicensees/Distributors separately sells in such country the Mono Product but does not separately sell in such country products containing as their sole active ingredient(s) the other active ingredient(s) in such Combination Product, the Net Sales attributable to such Combination Product shall be calculated by multiplying the Net Sales of such Combination Product by the fraction A/C where: A is Company’s (or its Affiliate’s or Sublicensees/Distributor’s, as applicable)  average Net Sales price during the period to which the Net Sales calculation applies for the Mono Product in such country, and C is Company’s (or its Affiliate’s or Sublicensees/Distributor’s, as applicable) average Net Sales price in such country during the period to which the Net Sales calculation applies for such Combination Product.

iii.If Company, its Affiliates, or Sublicensees/Distributors do not separately sell in such country the Mono Product but do separately sell products containing as their sole active ingredient(s) the other active ingredient(s) contained in such Combination Product, the Net Sales attributable to such Combination Product shall be calculated by multiplying the Net Sales of such Combination Product by the fraction (D-E)/D where: D is the average Net Sales price during the period to which the Net Sales calculation applies for such Combination Product in such country and E is the average Net Sales price during the period to which the Net Sales calculation applies for products that contain as their sole active ingredient(s) the other active ingredient(s) in such Combination Product.

iv.If Company, its Affiliates, or Sublicensees/Distributors do not separately sell in such country both the Mono Product and the other active ingredient or ingredients in such Combination Product, the Net Sales attributable to such Combination Product shall be determined by the Parties in good faith based on the relative fair market value of such Mono Product and such other active ingredient or ingredients.

As used herein, “Sublicensee/Distributor” means (a) a sublicensee or (b) a third party who is not a sublicensee, but to whom Company or any of its Affiliates has granted the right to distribute Licensed Products wherein such third party makes payments to Company or any of its Affiliates for the right to sell (or resell) Licensed Products, whether or not such payment is in the form of a royalty (or other amount) based upon the revenues received by such third party for the sale (or resale) of such Licensed Products.  For clarity, the following entities are not Sublicensee/Distributors under the foregoing clause (b): (i) McKesson Corporation, 

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 
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AmerisourceBergen, Cardinal Health and Besse Medical, in each case based on the activities performed by those entities as of the date of Amendment No. 2 to this Agreement, and other entities performing like activities in other countries in the Territory; and (ii) any other third party that acts as a wholesaler or provides warehousing or logistical support with respect to the sale or distribution of Licensed Products, without more.

 

As used herein, “Combination Product” means a Licensed Product that comprises or contains both (1) a compound that is covered by or made, in whole or in part, by the use of Dartmouth Patent Rights or by the use of Dartmouth Know-How as an active pharmaceutical ingredient; plus (2) one or more other active pharmaceutical ingredients that is not described in the foregoing clause (1), and that is sold either as a fixed dose or as separate doses in a single package for a single price.”

 

(c)Section 2.03 of the License Agreement is hereby amended by deleting the first sentence thereof and replacing it with the following:

 

“Company shall control all aspects of preparation, filing, prosecution, maintenance, enforcement and defense of Dartmouth Patent Rights, and shall be responsible for all costs thereof, except as otherwise provided herein.”

 

(d)Section 2.03 of the License Agreement is hereby further amended by adding the following sentences at the end of such Section 2.03:

 

“Company shall give Dartmouth prompt notice of any incident requiring defense of Dartmouth Patent Rights coming to its attention.  Should Company or applicable Sublicensee/Distributor decide not to defend any Dartmouth Patent Right, Dartmouth shall be entitled to do so in its own name, in which event Dartmouth shall be responsible for all legal costs incurred, without recourse to Company.  Financial recoveries from any such Dartmouth-initiated defense (i.e., from Dartmouth acting subsequent to Company declining to act) will be retained fully by Dartmouth, once litigation expenses actually incurred by Reata or any Sublicensee/Distributor are paid.  In any action to defend Dartmouth Patent Rights, either party, at the request and expense of the other party, shall cooperate to the fullest extent reasonably possible, including by agreeing to participate in such action as a named party, if necessary to maintain the action.  Company may not settle any defense action in any way detrimental to Dartmouth Patent Rights without the expressed written consent of Dartmouth.”

 

(e)In Sections 2.02, 5.01, 5.02, 5.03, 7.01, 7.02 and 8.01 of the License Agreement, (i) each reference to “sublicensee” is hereby replaced with a reference to “Sublicensee/Distributor” and (ii) each reference to “sublicensees” is hereby replaced with a reference to “Sublicensees/Distributors”.

 

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 
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(f)Section 5.01(c) of the License Agreement is hereby amended by replacing “; and” that appears at the end of such Section 5.01(c) with a period and then adding the following sentence immediately after such period:

 

“Each payment to be made by Company to Dartmouth under this Subsection 5.01(c) shall be paid by Company to Dartmouth within 30 days of Company’s receipt of the applicable consideration.”

 

(g)Section 5.01(f) of the License Agreement is hereby amended by replacing the phrase “any Reata product” that appears therein with the phrase “such Licensed Product”.

 

(h)Section 5.01 of the License Agreement is hereby further amended by adding the following new Sections 5.01(i) and 5.01(j) immediately after Section 5.01(h) of the License Agreement:

 

“(i)All amounts payable hereunder by Company will be paid in United States dollars without deduction for taxes, assessments, fees, or charges of any kind, and shall be paid by wire transfer of immediately available funds to such account as shall be designated by Dartmouth to Company (and otherwise in accordance with the provisions of this Agreement).”

 

“(j)“Bardoxolone” means that compound having the chemical structure set forth below:

Company and Dartmouth acknowledge and agree that any product that contains Bardoxolone (a “Bardoxolone Product”) is a product (i) (A) covered by, (B) made, in whole or in part by the use of, or (C) sold for a use claimed in, the Dartmouth Patent Rights or (ii) which utilizes the Dartmouth Know-How.  As such, upon the expiration of the Original Dartmouth Patents on April 15, 2022 (or, if sooner, upon the termination of the Exclusive Patent License Agreement referred to in Section 5.01(f) hereof), a royalty of [***]% of Net Sales of Bardoxolone Products shall, on a country-by-country and product-by-product basis, be payable by Company pursuant to Section 5.01(f) hereof, so long as the sale of such Bardoxolone Product in such country is covered by one or more Valid Claims in any of the Dartmouth Patent Rights.”

 

(i)The first and second sentences of Section 5.02(a) of the License Agreement are hereby amended and restated in their entirety as follows:

 

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 
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“Beginning with the date of first commercial sale of a Licensed Product in any country, within sixty (60) days after the end of each Calendar Quarter a true and accurate written report of all quantities of Licensed Products subject to royalty hereunder sold by Company, any Affiliate, and any Sublicensee/Distributor during such Calendar Quarter, the calculation of royalty thereon, and sufficient data for Dartmouth to verify the calculation, including gross sales and allowable deductions to derive to Net Sales figures (such reports will be on a per-country and per-product basis and presented substantially in the form as shown in Exhibit A to Amendment No. 2 to this Agreement), and shall simultaneously pay in United States dollars to Dartmouth the royalty due with respect to such sales.  For purposes of the running royalty payments under Section 5.01(f) hereof and the milestone payments under Section 5.01(g) hereof, conversion of foreign currency to U.S. dollars shall be made at the conversion rate quoted in the Wall Street Journal (WSJ) as of the last business day of the reporting period.  If the WSJ does not publish any such rate, a comparable rate publication will be agreed upon from time to time by Dartmouth and Company, and with respect to each country for which such rate is not published by the WSJ or in a comparable publication, Dartmouth and Company will use the prevailing rate for bank cable transfers for such date, as quoted by leading United States banks in New York City dealing in the foreign exchange market.”

 

(j)Section 5.02(a) of the License Agreement is hereby further amended by deleting the penultimate sentence of such Section 5.02(a) that begins with “If royalties for any License Year do not equal or exceed the minimum royalties . . .”.

 

(k)Section 8.01 of the License Agreement is hereby further amended by (i) replacing each reference to “Joint Patent Rights” therein with a reference to “Dartmouth Patent Rights” and (ii) replacing the reference to “any Reata sublicense” therein with a reference to “any Sublicensee/Distributor”.

 

(l)Section 10.02 of the License Agreement is hereby amended and restated in its entirety as follows:

 

“Section 10.02    Notices.  Any notices required by this Agreement must be in writing and must be sent by (i) email, (ii) electronic facsimile transmission, as evidenced by a confirmed fax transmission report, (iii) prepaid, first class, registered or certified mail, return receipt requested, or (iv) a nationally recognized overnight delivery service or air courier (e.g., UPS and FED EX).  Until a change of address is communicated, as provided below, all notices must be sent to Dartmouth and Company at the following:

 

If to Dartmouth:Dartmouth College

Technology Transfer Office

11 Rope Ferry Road

HB 6210

Hanover, New Hampshire 03755

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 
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Attention: Kim E. Rosenfield, Director, Technology Transfer

E-mail: Kim.E.Rosenfield@dartmouth.edu

Phone: (603) 646-1418

 

If to Company:Reata Pharmaceuticals, Inc.

2801 Gateway Drive, Suite 150

Irving, Texas 75063-2648

Attention: Robin Kral, Vice President, Licensing and

Intellectual Property

E-mail: robin.kral@reatapharma.com

Phone: (972) 865-2203

Fax: (214) 292-9692

 

All notices will be effective and will be deemed delivered (i) if delivery service or courier, on the date of delivery; (ii) if by email or electronic facsimile communication, on the date of transmission of the communication; and (iii) if by registered or certified mail, postage paid, three (3) days after deposit in the mail.  Any party hereto may from time to time change its address, facsimile number or other information for the purpose of notices to that party by giving notice specifying such change to the other parties hereto.”

 

(m)Article III of the License Agreement is hereby amended by adding the following new Section 3.04 to the end of such Article III:

 

“Section 3.04Monetization.  Notwithstanding anything in this Agreement to the contrary, Dartmouth and Company acknowledge and agree that:

 

(a)(i) Dartmouth may monetize (a “Monetization”) all or a portion of its rights to receive running royalties under Section 5.01(f) hereof, milestone payments under Section 5.01(g) hereof and payments related thereto (collectively, the “Receivables”), including by means of an assignment of such Receivables, and (ii) such a Monetization may take the form of a direct sale (through an auction process or otherwise) or a financing (through a borrowing of loans or otherwise); and

 

(b)in connection with a Monetization, Dartmouth may provide interested parties and the actual purchaser in such Monetization on an ongoing basis with copies of (i) the Relevant Agreements (as defined below), (ii) the royalty reports provided under the Relevant Agreements, and (iii) notices, reports and correspondence given or received under the Relevant Agreements; provided, however, that prior to disclosing any of the foregoing, each such interested party and actual purchaser shall execute a customary confidentiality agreement with Dartmouth covering such information.  “Relevant Agreements” means, collectively, (A) this Agreement, the Settlement Agreement, the Contribution Agreement (as defined in Section 2 of Amendment No. 2 to this Agreement) and 

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 
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the Sublicense (as defined in the second Whereas clause of Amendment No. 2 to this Agreement), (B) any agreements required to be provided by Company to Dartmouth under any of the agreements referenced in the immediately preceding clause (A), and (C) all amendments and other modifications to the agreements referenced in the immediately preceding clauses (A) and (B).”

 

(n)The last sentence of Section 9.05 of the License Agreement is hereby amended and restated in its entirety as follows: 

 

“Without limiting the foregoing and notwithstanding anything herein to the contrary, Article I, Sections 3.02, 5.01 – 5.03, 7.01 – 7.03, 9.01, 9.03, 9.05, 10.01 – 10.09, Article XI and Article XII shall survive the termination of this Agreement.”

 

6.Effect of Amendment.  Except as amended by this Amendment, the License Agreement shall remain in full force and effect pursuant to its terms.  By signing this Amendment, each of the parties hereto hereby agrees that the Amended License Agreement is hereby ratified and affirmed in all respects.  Each reference in the Amended License Agreement to “this Agreement”, “herein”, “hereunder” or words of similar import shall mean and be a reference to (a) from and after the date hereof, the License Agreement as amended by Section 5 of this Amendment and (b) from and after the effective date of the Contribution Agreement, the License Agreement as amended by Sections 3, 4 and 5 of this Amendment.

 

7.Governing Law.  This Amendment shall be construed, governed, interpreted and enforced according to the laws of the State of Delaware.

 

8.Counterparts.  This Amendment may be executed in one or more counterparts all of which together shall constitute one and the same agreement.  The delivery by any party of an executed counterpart hereof by facsimile transmission or email of .pdf copies shall be effective as an original executed counterpart of this Amendment by such party and shall constitute an original enforceable document.

 

[signatures set forth on the following page]

 

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].

 

 
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IN WITNESS WHEREOF, the parties have duly executed this Amendment as of the date first written above.

 

REATA PHARMACEUTICALS, INC.

 

 

By: /s/ Manmeet S. Soni

Name: Manmeet S. Soni

Title:   Chief Operating Officer, Chief Financial Officer and Executive Vice President 

 

 

 

TRUSTEES OF DARTMOUTH COLLEGE

 

 

By: /s/ Kim E. Rosenfeld

Name: Kim E. Rosenfeld

Title: Director, Technology Transfer

 

 

 

[Signature Page to Amendment No. 2 to 2009 License Agreement]

 

 

 

Exhibit A

 

Royalty Report

 

Period: [____/___/______] through [____/___/______]

 

Licensee:__________________________Agreement #:

 

***If license covers several product lines, please prepare a separate report for each product line.  Then combine all product lines into a summary report.***

 

Report Type:     Single Product Line Report: _____________________________________

(Product Name)

Multi-Product Summary Report (Page 1 of ____ pages)

 

	
Country
	
Quantity Produced
	
Gross Sales($)
	
*Less Allowances
	
Net Sales ($)
	
Royalty Rate
	
Conversion Rate (if applicable)
	
Royalties Due this period (US$)

	
USA
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Canada
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Japan
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Other:
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Sublicensees/Distributors:
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
[________]
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
[________]
	
 
	
 
	
 
	
 
	
 
	
 
	
 

 

Subtotal: ____________

Less Advanced Royalty Balance (if any): ____________

TOTAL ROYALTIES DUE THIS PERIOD: ____________

All other amounts due: ____________

TOTAL FOR THIS PERIOD: ____________

 

* Please in indicate in the following space the specific types of deductions and the corresponding amounts used to calculate Allowances:_____________________________________________________________

_____________________________________________________________________________________

_____________________________________________________________________________________

 

Please indicate the accounting methodology used to account for and calculate the items included in the report and any differences in such accounting methodology used in any previous reports:

_____________________________________________________________________________________

_____________________________________________________________________________________

_____________________________________________________________________________________

 

Prepared by -- Name:________________________________

Title:_________________________________

Date:_________________________________

 

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].
 
 

 

 

Exhibit B

 

Contribution Agreement

Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].Document

Exhibit 10.1

H&R BLOCK, INC. EXECUTIVE SEVERANCE PLAN
(Amended and Restated effective November 4, 2021)
Section 1.  Preamble.
This amended and restated H&R Block, Inc. Executive Severance Plan was adopted by H&R Block, Inc., a Missouri corporation (“HRB”) and is effective November 4, 2021 (as so amended and restated, the “Plan”).  Except as provided herein, this Plan supersedes all prior agreements, arrangements or plans of the Company related to separation pay in the event of a Qualifying Termination or Change in Control Termination. 
Section 2.  Definitions.

For purposes of this Plan, the following terms shall have the meanings specified below unless the context clearly requires otherwise:

    “Affiliate” shall have the meaning ascribed to such term in Rule 12b-2 of Regulation 12B under the Securities Exchange Act of 1934, as amended.

“Base Compensation” means a Participant’s annual base salary plus Participant’s annual target short-term incentive opportunity in effect at the time of a Participant's Termination Date, as approved by the Board or the Compensation Committee, as applicable. 

    “Board” means the Board of Directors of HRB.

    “Cause” means any of the following unless, if capable of cure, such events are fully corrected in all material respects by Participant within ten (10) days after the Company provides notice of the occurrence of such event:

(i)A Participant’s misconduct that materially interferes with or materially prejudices the proper conduct of the business of the Company;

(ii)A Participant’s commission of an act materially and demonstrably detrimental to the good will of the Company;

(iii)A Participant’s commission of any act of dishonesty or breach of trust resulting or intending to result in material personal gain or enrichment of the Participant at the expense of the Company;

(iv)A Participant’s violation of any non-competition, non-solicitation, confidentiality or similar restrictive covenant under any employment-related agreement, plan or policy with respect to which the Participant is a party or is bound; or

(v)A Participant’s conviction of, or plea of guilty or nolo contendere to, a misdemeanor involving an act of moral turpitude or a felony.

If the Company does not give the Participant a termination notice within sixty (60) days after the Board or the Chairman of the Board has knowledge that an event constituting Cause has occurred, the event will no longer constitute Cause.  The Company may place a Participant on unpaid leave for up to 

thirty (30) consecutive days while it is determining whether there is a basis to terminate the Participant’s employment for Cause.  Such unpaid leave will not constitute Good Reason.

For purposes of this definition, any act or omission by the Participant based on authority given pursuant to a resolution duly adopted by the Board will be deemed made in good faith and in the best interests of the Company.

    “Change in Control” means the occurrence of one or more of the following events:

(i)Any one person, or more than one person acting as a group, acquires ownership of stock of HRB that, together with stock held by such person or group, constitutes more than 50 percent of the total fair market value or total voting power of the stock of HRB.  If any one person, or more than one person acting as a group, is considered to own more than 50 percent of the total fair market value or total voting power of the stock of HRB, the acquisition of additional stock by the same person or persons shall not be considered to cause a Change in Control.  An increase in the percentage of stock owned by any one person, or persons acting as a group, as a result of a transaction in which HRB acquires its stock in exchange for property will be treated as an acquisition of stock for purposes of this definition. 

(ii)Any one person, or more than one person acting as a group, acquires (when combined with all other acquisitions of HRB stock acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of HRB possessing 35 percent or more of the total voting power of the stock of HRB.  If any one person, or more than one person acting as a group, is considered to effectively control a corporation within the meaning of Treasury Regulation §1.409A-3(i)(5)(vi), the acquisition of additional control of the corporation by the same person or persons is not considered to cause a change in the effective control of the corporation. An increase in the percentage of stock owned by any one person, or persons acting as a group, as a result of a transaction in which HRB acquires its stock in exchange for property will not be treated as an acquisition of stock for purposes of this clause (ii), but will be treated as an acquisition of stock for purposes of clause (i) of this definition. 

(iii)A majority of members of the Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by two-thirds (2/3) of the members of the Board before the date of such appointment or election.

(iv)Any one person, or more than one person acting as a group, acquires (when combined with all other acquisitions of HRB assets acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from HRB that have a total gross fair market value equal to or more than 50 percent of the total gross fair market value of all of the assets of HRB immediately before such acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets of HRB, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.  Notwithstanding the foregoing, there is no Change in Control event under this definition when there is a transfer to an entity that is controlled by the shareholders of HRB immediately after the transfer. A transfer of assets by HRB is not treated as a change in the ownership of such assets if the assets are transferred to:  (a) a shareholder of HRB (immediately before the asset transfer) in exchange for or with respect to its stock; (b) an entity, 50 percent or more of the total value or voting power of which is owned, directly or indirectly, by HRB; (c) a person, or more than one person acting as a group, that owns, directly or indirectly, 50 percent or more of the total value or voting power of all the 
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outstanding stock of HRB; or (d) an entity, at least 50 percent of the total value or voting power of which is owned, directly or indirectly, by a person described in (c) above. 

For purposes of this definition of Change in Control, persons will be considered to be acting as a group in accordance with Sections 13(d)(3) and 14(d)(2) of the Securities Exchange Act of 1934, as amended, and Section 409A of the Code.

“Change in Control Termination” means a Participant’s Qualifying Termination or Good Reason Termination, in either event within seventy-five (75) days immediately preceding or within eighteen (18) months immediately following a Change in Control.

“COBRA Subsidy” means an amount equal to the Participant’s monthly post-employment premium for health and welfare benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) less the amount paid from time to time by active employees for similar coverage.  

“Code” means the Internal Revenue Code of 1986, as amended.

“Company” means HRB and its Affiliates.

“Comparable Position” means a position where:

(i)    the primary work location is within 50 miles of the Participant’s primary work location prior to the Qualifying Termination; and

(ii)    the Base Compensation is not more than 10% below the Participant’s compensation rate at the time of the Qualifying Termination.

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

“Good Reason Termination” means a Separation from Service: 

(i)    which is initiated by the Participant within seventy-five (75) days immediately preceding or within eighteen (18) months immediately following a Change in Control on account of one or more of the following conditions occurring within that same time frame:

(A)    A material diminution in the Participant’s Base Compensation;

(B)    A material diminution in the Participant’s authority, duties, or responsibilities; 

(C)    A material change in the geographic location at which the Participant must perform the services; or

(D)    Any other action or inaction that constitutes a material breach by the Company of any written employment-related agreement between the Participant and the Company; 

(ii)    for which the Participant does not consent to the condition referenced in (i) above; and 

(iii)    for which the Company does not substantially remedy the condition (as described in this definition). 

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A Participant must provide notice to the Company of the existence of any of the foregoing conditions within thirty (30) days of the later of (x) initial existence of the condition for which Participant will terminate employment and (y) the date the Change in Control occurs; provided, however, that any notice relating to a condition that initially occurs before such Change in Control must be provided no later than ninety (90) days following the initial existence of the condition (it being understood that for purposes of both clauses (x) and (y) above, the relevant time period commences as of the date  Participant knows or should reasonably have known of the existence of such condition).  Participant must remain employed with the Company for at least thirty (30) days after providing such notice.  During the thirty (30) days following receipt of the notice, the Company may substantially remedy the event, occurrence or condition for which notice was given, in which case a Good Reason Termination will not occur as a result of the condition and the Company will not be required to pay the amount.

“HRB” means H&R Block, Inc., a Missouri corporation.

“Participant” means an associate of the Company whose participation in the Plan is approved by the Compensation Committee of the Board (or other committee appointed by the Board to administer the Plan pursuant to Section 18).

“Payment Deadline” means the date which is sixty (60) days after the Termination Date.

“Plan” means this H&R Block, Inc. Executive Severance Plan, as amended from time to time.  This document serves as both the legal plan document and summary plan description.

“Plan Administrator” and “Plan Sponsor” means H&R Block Management, LLC.  The address and telephone number of H&R Block Management, LLC is One H&R Block Way, Kansas City, Missouri 64105, (816) 854-3000.  

“Qualifying Termination” means the involuntary Separation from Service by the Company under circumstances not constituting Cause but does not include:

(i)    the elimination of the Participant’s position where the Participant was offered a Comparable Position with the Company or with a party that acquires any asset from the Company (or a subsidiary or an affiliate of such a party), 

(ii)    the redefinition of a Participant’s position to a lower compensation rate or grade; or

(iii)    the Participant’s Separation from Service due to death or disability.

“Release Agreement” means the release agreement, substantially in the form set forth as Exhibit A to this Plan, which a Participant shall be required to execute as a condition to receiving payments and benefits under this Plan.

“Separation from Service” means the date that a Participant separates from service within the meaning of Section 409A of the Code and Treasury Regulation §1.409A-1(h).

“Termination Date” means the effective date of a Participant’s Separation from Service.

Section 3.  Severance Benefits.  

(a)    If a Participant incurs a Qualifying Termination or a Change in Control Termination and executes a Release Agreement and returns it to the Company by the deadline set forth in the Release 
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Agreement, and provided the Participant does not revoke as permitted in the Release Agreement, Company agrees to provide the Participant with the following payments and benefits, subject to appropriate tax withholdings, to which the Participant would be entitled following the end of the seven (7)-day revocation period, which shall be payable and provided in accordance with and subject to the terms of the Plan unless otherwise specified below: 

(i) The Company shall pay the Participant as soon as reasonably feasible following the end of the seven (7) day revocation period, and in any event, no later than the Payment Deadline, a lump sum severance amount equal to:

(A)    in the case of a Change in Control Termination, two (2) times Participant’s Base Compensation, and in the case of a Qualifying Termination that is not a Change in Control Termination, one and one-half (11⁄2) times Participant’s Base Compensation; plus

(B)    an amount equal to the Participant’s COBRA Subsidy multiplied by twelve (12).  To be eligible for a payment under this Section 3(a)(i)(B), the Participant must be enrolled in the Company’s applicable health, dental, and vision benefits on the date of the Separation from Service.

(ii) Subject to Section 13, the Company, at its expense, shall engage a professional outplacement assistance firm, selected at the Company’s discretion, to provide reasonable outplacement assistance to the Participant for a period not to exceed fifteen (15) months following the Participant’s Termination Date.  In no event shall the Company be required to expend more than Fifteen Thousand Dollars ($15,000) for such outplacement assistance for the Participant.  

(iii) The Participant shall be entitled to a pro-rata award of any award payable under the Company’s applicable short-term incentive plan (the “STI Plan”) for the then-current fiscal year, based upon the Participant’s actual performance and the attainment of goals established under the STI Plan as determined by the Board or the Compensation Committee, as applicable, in its sole discretion.  Such pro-rata award shall be payable to the Participant at the time such awards are payable under the STI Plan.  The pro-rata portion shall be based on the number of days preceding the Termination Date in the performance period during which the Termination Date occurs, divided by 365.

    (b)    A Participant who receives any payments and other benefits under this Section 3 shall not be eligible for any severance-related payments or benefits under any employment-related agreement or plan, policy or program of the Company.  The payments and other benefits under this Section 3 shall offset any amounts due under the Worker Adjustment Retraining Notification Act of 1988 or any similar statute or regulation.   

Section 4.  Equity Awards.  
    
    Notwithstanding Section 3(b), nothing under this Plan supersedes or replaces any rights granted to a Participant under HRB’s long-term incentive plans.  Awards granted under HRB’s long-term incentive plans shall be treated as provided in the applicable award agreement.
    
Section 5.  Repayment; Clawback.

Notwithstanding any provision in this Plan to the contrary, if (i) the Company is required to restate any of its financial statements filed with the Securities and Exchange Commission, other than restatements due solely to factors external to the Company such as a change in accounting principles or a change in securities laws or regulations with retroactive effect or (ii) the Participant violates the provisions of any confidentiality, non-competition, non-solicitation or similar agreement or policy, then the Board  may recover or require reimbursement of all severance, equity compensation awards (including profits from the sale of Company stock acquired pursuant to such awards) and/or other 
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payments or benefits made to the Participant under this Plan.  In exercising its discretion to recover or require reimbursement of any amounts as a result of any restatement pursuant to clause (i) above, the Board may consider, among other relevant factors, the level of the Participant’s responsibility or influence, as well as the level of others’ responsibility or influence, over the judgments or actions that gave rise to the restatement.

Section 6.  Other Payments.  

Upon any Separation from Service entitling the Participant to payments under this Plan, the Participant shall receive all accrued but unpaid salary and all benefits accrued and payable under any plans, policies and programs of the Company, except for benefits payable under any other severance plan, policy or arrangement of the Company.

Section 7.  Enforcement.  

If a Participant incurs any expenses associated with the successful enforcement of rights under this Plan by arbitration, litigation or other legal action, then the Company shall pay the Participant on demand of all reasonable expenses (including attorneys’ fees and legal expenses) incurred by the Participant in enforcing such rights under this Plan. The Participant shall notify the Company of the expenses for which the Participant demands reimbursement within sixty (60) days after the Participant receives an invoice for such expenses, but in no case before a court, arbitrator, mediator or other judicial panel rules in favor of the Participant with respect to the dispute giving rise to such expenses, and the Company shall pay the reimbursement amount within fifteen (15) days after receipt of such notice, subject to Section 13.  For purposes of clarity, the Company shall have no obligation to reimburse the Participant for any expenses incurred by such Participant if any court, arbitrator, mediator or other judicial panel rules in favor of the Company with respect to the dispute giving rise to such expenses. 

Section 8.  No Mitigation.  

A Participant shall not be required to mitigate the amount of any payment or benefit provided for in this Plan by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for herein be reduced by any compensation earned by other employment or otherwise.

Section 9.  Nonexclusivity of Rights.  

Nothing in this Plan shall prevent or limit a Participant’s continued or future participation in or rights under any benefit, bonus, incentive or other plan or program provided by the Company and for which the Participant may qualify, except as provided in this Plan.

Section 10.  No Set Off.  

The Company’s obligation to make the payments provided for in this Plan and otherwise to perform its obligations hereunder shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may have against the Participant or others.  

Section 11.  Taxation.

(a) To the extent applicable, this Plan shall be construed and administered consistently with Code Section 409A and the regulations and guidance issued thereunder (“Section 409A”).  For purposes of determining whether any payment made pursuant to this Plan results in a “deferral of compensation” 
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within the meaning of Treasury Regulation 1.409A-1(b), the Company shall maximize the exemptions described in such section, as applicable.  Any reference to a “termination of employment” or similar term or phrase shall be interpreted as a “separation from service” within the meaning of Section 409A.  If any deferred compensation payment is payable while a Participant is a “specified employee” under Section 409A, and payment is due because of Separation from Service for any reason other than death, then payment of such amount shall be delayed for a period of six months and paid in a lump sum on the first payroll payment date following the earlier of the expiration of such six-month period or the Participant’s death.  To the extent any payments under this Plan are made in installments, each installment shall be deemed a separate payment for purposes of Section 409A and the regulations issued thereunder.  A Participant or the Participant’s beneficiary, as applicable, shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on such Participant or beneficiary in connection with any payments to the Participant or beneficiary pursuant to this Plan, including but not limited to any taxes, interest and penalties under Section 409A, and the Company shall have no obligation to indemnify or otherwise hold a Participant or a Participant’s beneficiary harmless from any and all of such taxes and penalties.

(b)  All payments and other benefits received by the Participant under this Plan shall be subject to all requirements of the law with regard to tax withholding and reporting and filing requirements, and the Company shall use its best efforts to satisfy promptly all such requirements.

Section 12.  Section 280G Change in Control Payment.

(a) In the event that it is determined that any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of a Participant, whether paid or payable or distributed or distributable pursuant to the terms of this Plan or otherwise (the “Change in Control Payment”), would constitute an “excess parachute payment” within the meaning of Section 280G of the Code, then the Company shall pay to the Participant whichever of the following gives the Participant the highest net after-tax amount (after taking into account all applicable federal, state, local and security taxes): (1) the Change in Control Payment, or (2) the amount that would not result in the imposition of excise tax on the Participant under Code Section 4999.  Any required reduction in the Change in Control Payment pursuant to the foregoing shall be accomplished solely by reducing the lump sum severance payment payable pursuant to Section 3(a)(i) of this Plan.

(b)  All determinations to be made under this Section 12 shall be made by an independent registered public accounting firm selected by the Company immediately prior to the Change in Control (the “Accounting Firm”), which shall provide its determinations and any supporting calculations both to the Company and the Participant within ten (10) days of the Change in Control. Any such determination by the Accounting Firm shall be binding upon the Company and the Participant.  All of the fees and expenses of the Accounting Firm in performing the determinations referred to in this Section 12 shall be borne solely by the Company. 

Section 13.  Reimbursements. 

Any reimbursements or in-kind benefits to be provided pursuant to this Plan (including, but not limited to under Section 3(a)(ii)) that are taxable to the Participant shall be subject to the following restrictions:  (a) each reimbursement must be paid no later than the last day of the calendar year following the calendar year during which the expense was incurred or tax was remitted, as the case may be; (b) the amount of expenses or taxes eligible for reimbursement, or in kind benefits provided, during a calendar year may not affect the expenses or taxes eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year; (c) the period during which any reimbursement may be paid or in-kind benefit 
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may be provided shall end ten (10) years after termination of this Plan; and (d) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

Section 14.  Term.  

This Plan was initially effective May 12, 2009. This amended and restated Plan is effective as of November 4, 2021 and shall continue with respect to a Participant until the earliest of: (a) the Participant’s Separation from Service, or (b) the date the Participant enters into a written separation agreement with the Company.

Section 15.  Successor Company. 
 
The Company shall require any successor or successors (whether direct or indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company to acknowledge expressly that this Plan is binding upon and enforceable against the Company in accordance with the terms hereof, and to become jointly and severally obligated with the Company to perform this Plan in the same manner and to the same extent that the Company would be required to perform if no such succession or successions had taken place. 

Section 16.  Notice.  

All notices and other communications required or permitted hereunder or necessary or convenient in connection herewith shall be in writing and shall be delivered personally or mailed by registered or certified mail, return receipt requested, or by overnight express courier service, as follows:

If to the Company, to:
H&R Block, Inc.
One H&R Block Way
Kansas City, MO 64105
Attention: Corporate Secretary

If to the Participant, to the most recent address provided by the Participant to the Company for payroll purposes, or to such other address as the Company or the Participant, as the case may be, shall designate by notice to the other party hereto in the manner specified in this Section 16; provided, however, that if no such notice is given by the Company following a Change in Control, notice at the last address of the Company or any successor shall be deemed sufficient for the purposes hereof. Any such notice shall be deemed delivered and effective when received in the case of personal delivery, five (5) days after deposit, postage prepaid, with the U.S. Postal Service in the case of registered or certified mail, or on the next business day in the case of overnight express courier service.
Section 17.  Amendment. 
This Plan may be amended at any time by the Board with respect to all or some of the Participants, provided that any such amendment may not decrease or restrict a Participant’s rights under this Plan without such Participant’s consent.
Section 18.  Administration.
The Plan shall be administered by the Board or by a committee of two or more members of the Board of Directors appointed by the Board which shall have the exclusive discretion and authority to 
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make, amend, interpret and enforce all appropriate rules and regulations for the administration of this Plan and to decide or resolve any and all questions that may arise in connection with the Plan.  To the extent the Board appoints a committee, any reference herein regarding the Board’s administration of the Plan shall be construed to apply to such committee. As of the date this amendment and restatement is effective, the Board hereby appoints the compensation committee of the Board of Directors as administrators of the Plan (the “Compensation Committee”).
Any decision or action of the Board with respect to any question arising out of or in connection with the administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Plan.  In the administration of this Plan, the Board (or its appointed committee) may employ agents and delegate to them such administrative duties as the Board deems appropriate (including acting through a duly appointed representative) and may from time to time consult with counsel who may be counsel to the Company. The Company may pay a Participant cash in lieu of the outplacement assistance described in Section 3(a)(ii), if determined to be desirable under the circumstances by the Company’s Chief Executive Officer, or, in the event the Chief Executive Officer is receiving the benefits, the Compensation Committee.
Except with respect to officers who are designated as executive officers by the Company’s Board of Directors under Section 16 of the Securities Act of 1934, the Board (or its appointed committee) may delegate to one or more executive officers the authority, duties and responsibilities relating to the Company’s rights to prevent, enforce or remedy affirmative or restrictive covenants contained either in this Plan or in a Participant’s Release Agreement, including the authority for such executive officer(s) to further delegate such authority, duties and responsibilities to any other individual or entity, whether or not such person or entity is employed by, an officer of, or affiliated with the Company.
Section 19.  No Right to Continued Employment. 

Nothing in this Plan shall be construed as giving the Participant any right to be retained in the employ of the Company.

    Section 20.  Governing Law.  

This Plan shall be governed by and interpreted under the laws of the State of Missouri without giving effect to any conflict of laws provisions.  Any legal action or proceeding with respect with this Plan shall be brought exclusively in the courts of the State of Missouri without regard to any conflicts of law.

Section 21.  Successors and Assigns.  

All of the terms and provisions of this Plan shall be binding upon and inure to the benefit of and be enforceable by the respective heirs, representatives, successors and assigns of the parties hereto, except that the duties and responsibilities of the Participant and the Company hereunder shall not be assignable in whole or in part.

Section 22.  Severability.  

If any provision of this Plan or application thereof to anyone or under any circumstances shall be determined to be invalid or unenforceable, such invalidity or unenforceability shall not affect any other 
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provisions or applications of this Plan which can be given effect without the invalid or unenforceable provision or application.

Section 23.  Remedies Cumulative; No Waiver. 

No right conferred upon the Participant by this Plan is intended to be exclusive of any other right or remedy, and each and every such right or remedy shall be cumulative and shall be in addition to any other right or remedy given hereunder or now or hereafter existing at law or in equity. No delay or omission by the Participant in exercising any right, remedy or power hereunder or existing at law or in equity shall be construed as a waiver thereof.

Section 24.  Headings. 
 
The captions of the articles, sections and paragraphs of this Plan are for convenience only and shall not control or affect the meaning or construction of any of its provisions.

Section 25.  Statement of ERISA Rights and Claims Procedures. 

A statement of ERISA rights and the claims procedures are set forth in Appendix A, attached to this Plan. 

IN WITNESS WHEREOF, the Company has executed this Plan this November 4, 2021.  The H&R Block Executive Severance Plan was initially adopted by HRB effective as of May 12, 2009.  This amendment and restatement is effective November 4, 2021.

                    H&R BLOCK, INC.

            
                    By:/s/Tiffany S. Monroe        
Tiffany S. Monroe

                    Title: Chief People and Culture Officer
                        
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APPENDIX A

STATEMENT OF ERISA RIGHTS AND CLAIMS PROCEDURES

Section 1.  Statement of ERISA Rights. 

In accordance with ERISA, each Participant shall be entitled to:

(a)    Examine, without charge (by contacting the Plan Administrator) all Plan documents and copies of all documents governing the Plan and a copy of the latest annual report (Form 5500 series) filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration;
(b)    Obtain copies of all Plan documents and other Plan information upon written request to the Plan Administrator.  A reasonable fee may be charged for these copies;
(c)    Receive a summary of the Plan’s annual financial report.  The Plan Administrator is required to furnish each Participant with a copy of this summary annual report; and
(d)    Obtain a statement showing the Participant’s account balance (if any).  
In addition to creating rights for Plan Participants, ERISA imposes duties upon the persons who are responsible for the operation of the Plan.  The persons who operate the Plan are called “fiduciaries” and have a duty to operate the Plan prudently and in the interest of Plan Participants and beneficiaries.  No one, including the employer, may fire a Participant or otherwise discriminate against the Participant in any way to prevent the Participant from obtaining a benefit or exercising rights under ERISA.  If a claim for a benefit is denied in whole or in part the Participant must receive a written explanation of the reason for the denial.  The Participant has the right to have the Plan Administrator review and reconsider the claim.
Under ERISA, there are steps a Participant can take to enforce the above rights.  For instance, if a Participant requests any of the materials listed above from the Plan Administrator and does not receive them within 30 days, the Participant may file suit in a federal court.  In such a case, the court may require the Plan Administrator to provide the materials and pay up to $110 a day until the Participant receives the materials, unless the materials were not provided because of reasons beyond the control of the Plan Administrator.
If a claim for benefits is denied or ignored, either in whole or in part, the Participant may file suit in a state or federal court.  In the event that Plan fiduciaries misuse the Plan’s funds, or if the Participant is discriminated against for asserting the Participant’s rights, the Participant may seek assistance from the U.S. Department of Labor, or file suit in a federal court.  The court will decide who should pay court costs and legal fees.  If a Participant is successful the court may order the person have sued to pay these costs and fees.  But if the Participant loses, the court may order the Participant to pay these costs and fees if, for example, it finds the claim is frivolous.
Any questions concerning the Plan should be directed to the Plan Administrator.  Additional information about this statement or a Participant’s rights under ERISA may be obtained from the nearest Office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in the telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.  A 

Participant may also obtain certain publications about rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.

Section 2.  Claims Procedures. 

Any Participant may deliver to the Board a written claim for a determination with respect to the amounts distributable to such Participant from the Plan.  If such a claim relates to the contents of a notice received by the Participant, the claim must be made within sixty (60) days after such notice was received by the Participant.  The claim must state with particularity the determination desired by the Participant.  All other claims must be made within 180 days of the date on which the event that caused the claim to arise occurred.  

The Board shall consider a Participant’s claim within seventy-five (75) days (unless special circumstances require additional time), and shall notify the Participant in writing: (i) that the Participant’s requested determination has been made, and that the claim has been allowed in full; or (ii) that the Board has reached a conclusion contrary, in whole or in part, to the Participant’s requested determination.  Such notice must set forth in a manner calculated to be understood by the Participant and include the following information:

(a)    the specific reason(s) for the denial of the claim, or any part of it;

(b)    specific reference(s) to pertinent provisions of the Plan upon which such denial was based;

(c)    a description of any additional material or information necessary for the Participant to perfect the claim, and an explanation of why such material or information is necessary; and

(d)    an explanation of the claim review procedure set forth below.

Within sixty (60) days after receiving a notice from the Board that a claim has been denied, in whole or in part, a Participant (or the Participant’s duly authorized representative) may file with the Board a written request for a review of the denial of the claim.  Thereafter, but not later than thirty (30) days after the review procedure began, the Participant (or the Participant’s duly authorized representative):

(i)may review pertinent documents;

(ii)may submit written comments or other documents; and/or

(iii)may request a hearing, which the Board, in its sole discretion, may grant.

The Board shall render its decision on review promptly, and not later than sixty (60) days after the filing of a written request for review of the denial, unless a hearing is held or other special circumstances require additional time, in which case the Board’s decision must be rendered within 120 days after such date.  Such decision must be written in a manner calculated to be understood by the Participant, and in the case of an adverse determination, it must contain: 

(x)    specific reasons for the decision;

Appendix A – Page 2

(y)    specific reference(s) to the pertinent Plan provisions upon which the decision was based; and

(z)    such other matters as the Board deems relevant.

A Participant’s compliance with the foregoing provisions of this Section 2 is a mandatory prerequisite to a Participant’s right to commence any legal action with respect to any claim for benefits under this Plan.  Service of legal process shall be made to:  H&R Block Management, LLC, Attention:  General Counsel, One H&R Block Way, Kansas City, Missouri 64105.

Appendix A – Page 3

EXHIBIT A

SEVERANCE AND RELEASE AGREEMENT

    [EMPLOYEE] (“Employee”) and [EMPLOYING ENTITY], its parents, subsidiaries, affiliates, and assigns (collectively, “Company”) enter into this Severance and Release Agreement (“Release Agreement”) under the terms and conditions recited below.  
I.    Recitations
A.    Employee is currently employed as [TITLE].  Due to changing business needs, Employee has been notified and Employee has agreed that Employee’s employment will end on [TERM DATE] (the “Termination Date”). 
B.    Employee and Company wish to enter into a full and final settlement of all issues and matters that exist between them, which include, but are not limited to, any issues and matters that may have arisen out of Employee’s employment with or separation from Company.
C.    Employee specifically acknowledges that Company has advised Employee to seek Employee’s own personal legal counsel prior to signing this Release Agreement.
D.    In exchange for the mutual promises of Employee and Company set forth in this Release Agreement, Employee and Company agree to the terms and conditions set forth below.
II.    Basic Terms of the Release Agreement
A.The parties agree to treat Employee’s separation from employment as [a Change in Control Termination] OR [a Qualifying Termination, but not a Change in Control Termination,] as defined in the H&R Block, Inc. Executive Severance Plan applicable to Employee (the “Plan”), a copy of which is attached to this Release Agreement as Exhibit A.  Accordingly, following the Company’s receipt of a fully executed copy of this Release Agreement, and provided that Employee does not revoke as permitted in section III(A) below, Company agrees to provide Employee with the following payments and benefits to which Employee would be entitled, subject to appropriate tax withholdings and post lapse of the seven-day revocation period, which shall be payable and provided in accordance with and subject to the terms of the Plan unless otherwise specified below: 
1.    Severance Payment.  As soon as reasonably feasible following the end of the seven (7)-day revocation period and in any event no later than sixty (60) days following the Termination Date (the “Payment Deadline”), Company will pay Employee a lump sum payment in the amount of $[insert amount], less applicable tax withholdings.  This severance payment consists of the sum of the following components:
[For Change in Control Termination:]
(a)Two (2) times Employee’s Base Compensation, which is equal to $[insert amount]; and
[For Qualifying Termination that is not a Change in Control Termination:]
(a)One and one-half (11⁄2) times Employee’s Base Compensation, which is equal to $[insert amount]; and

[For either Change in Control Termination or Qualifying Termination:]
(b)A COBRA subsidy equal to the Company’s regular monthly premium, if any, paid toward the Employee’s health and welfare benefits as of Employee’s last day worked multiplied by twelve (12) months, which is equal to $[insert amount].
2.    Outplacement Services.  Company will pay directly to a professional outplacement assistance firm, selected at the Company’s discretion, to obtain reasonable outplacement assistance to be provided to Employee until the earlier to occur of (a) the date Employee obtains other employment; or (b) fifteen (15) months following the Termination Date.  In no event shall the Company be required to expend more than Fifteen Thousand Dollars ($15,000) for such outplacement assistance for the Participant. 
3.    Short-Term Incentive Payment.  Company will pay Employee a pro-rata award of any award payable under any applicable STI Plan for fiscal year [insert applicable year] based upon Employee’s actual performance and the Company’s attainment of goals established under the STI Plan as determined by the Compensation Committee of the H&R Block, Inc. Board of Directors in its sole discretion.  Such pro-rata award, if any, shall be payable less applicable tax withholdings and in accordance with the Company’s short-term incentive process and subject to the terms and conditions of any applicable STI Plan.  Company will pay Employee any short-term incentive award due to Employee at the time such awards are generally payable under the applicable STI Plan to other participants.  
4.    Equity-Based Awards.  Any outstanding equity-based awards, including any stock options, restricted share units, performance share units, and market stock units, granted to Employee shall be treated as provided in the applicable award agreement.  A list of the awards outstanding as of the Termination Date and that shall be forfeited on the Termination Date is attached as Exhibit B.
B.    Employee agrees to the following:
1.    Release of Claims.  Employee agrees to and hereby does release and forever discharge Company, and each and every one of its component, predecessor and successor companies, and their respective past and present agents, officers, executives, employees, attorneys, and directors (collectively the “Released Parties”) from any and all matters, claims, charges, demands, damages, causes of action, debts, liabilities, controversies, claims for attorneys’ fees, judgments, and suits of every kind and nature whatsoever, foreseen or unforeseen, known or unknown, which have arisen between Employee and the Released Parties up to the date Employee signs this Release Agreement, all as more fully set forth in sections IV(A) through (E) below.    
2.    Confidential Information.  Employee agrees that Employee will not, without the prior written consent of Company, directly or indirectly use for the benefit of any person or entity other than Company, or make known, divulge or communicate to any person, firm, corporation or other entity, any confidential or proprietary information, knowledge or trade secrets acquired, developed or learned of by Employee during Employee’s employment with Company.  Employee shall not retain after the Termination Date, any document, record, paper, disk, tape or compilation of information relating to any such confidential information.
3.    Return of Company Property.  Employee shall return to Company by the Termination Date, any and all things in Employee’s possession or control relating to Company, including but not limited to any equipment issued to Employee, all correspondence, reports, contracts, financial or budget information, personnel or labor relations files, office keys, manuals, and all similar materials not specifically listed here.  Employee further agrees that as of the Termination Date Employee will have no 
Exhibit A – Page 2

outstanding balance on Employee’s corporate credit card for which appropriate travel and expense accounting has not been submitted.
4.    Legal Hold.  To the extent Employee has received a Preservation Notice/Legal Hold from the Legal Department, Employee shall take all necessary steps to preserve information related in any way to the Preservation Notice/Legal Hold in its original format and location and will not modify, delete or destroy such information.  Employee will notify the Legal Department of the nature and location of any and all such information.  
5.    Confidentiality & Restrictive Covenant Agreement.  Employee acknowledges that Employee entered into a Confidentiality & Restrictive Covenant Agreement with the Company (the “Confidentiality Agreement”), which is attached as Exhibit C.  Employee agrees that Employee is bound by the provisions of the Confidentiality Agreement and will continue, after the Termination Date, to abide by the terms of the Confidentiality Agreement.
6.    Non-disparagement.  Employee agrees that Employee will not disparage Company or make or solicit any comments to the media or others that may be considered derogatory or detrimental to the good business name or reputation of Company.  
7.    Employee Availability/Cooperation.  Employee agrees to be reasonably available to the Company to respond to requests for information pertaining to or relating to the Company, or any predecessor and successor companies, or their respective past and present agents, officers, executives, employees, attorneys, directors, and assigns.  Employee also agrees to reasonably assist and cooperate with the Company (and its outside counsel) in connection with the defense or prosecution of any claim that may be made or threatened against or by the Company, or in connection with any ongoing or future investigation or dispute or claim of any kind involving the Company, including any proceeding before any arbitral, administrative, judicial, legislative, or other body or agency, including preparing for and testifying in any proceeding to the extent such claims, investigations or proceedings relate to services performed or required to be performed by Employee, pertinent knowledge possessed by Employee, or any act or omission by Employee.  Employee will perform all acts and execute and deliver any documents that may be reasonably necessary to carry out the provisions of this section.  Upon presentment to the Company of appropriate documentation, the Company will pay directly or reimburse Employee for the reasonable out-of-pocket expenses incurred as a result of such cooperation.  
8.    Resignation.  Employee agrees that, upon the Termination Date, Employee resigns from all offices, directorships, trusteeships, committee memberships, and fiduciary capacities held with, or on behalf of, the Company, and any benefit plans of the Company.  Employee will execute the resignations attached as Exhibit D contemporaneously with execution of this Release Agreement, and agrees to reasonably cooperate with the Company to execute any additional resignations that the Company may determine to be required upon its further review of applicable requirements to which it is subject. 
III.    Acknowledgments and Additional Terms
A.    Consideration/Revocation Period.  Employee shall have twenty-one (21) days following receipt of this Release Agreement to consider whether or not to sign this Release Agreement.  Employee acknowledges that Employee may revoke acceptance of the terms and conditions of this Release Agreement at any time within seven (7) calendar days after the day on which Employee originally returned the signed copy of the Release Agreement to the Company.  Such revocation, to be effective, must be delivered by written notice, in a manner so the notice is received on or before the seventh day by: General Counsel, H&R Block, Inc., One H&R Block Way, Kansas City, MO  64105.  In the event 
Exhibit A – Page 3

Employee does not return an executed copy of this Release Agreement to the Company within the twenty-one (21) day period, or Employee revokes acceptance of the terms and conditions of this Release Agreement within the seven (7) day period following execution of this Release Agreement, Employee will not be entitled to any of the payments or benefits provided under section II(A).    
B.    Opportunity to Consult Personal Attorney.  Employee acknowledges that Company has advised Employee to seek Employee’s own legal counsel prior to signing this Release Agreement and that Employee has consulted or has had the opportunity to consult with Employee’s personal attorney prior to executing this Release Agreement.
C.    No Admission of Liability.  Employee and Company agree that nothing in this Release Agreement is an admission by either of any wrongdoing, and that nothing in this Release Agreement is to be construed as such by anyone.
D.    Consideration.  Employee agrees that provision of the payments and benefits set forth in section II(A) and the Plan constitute payments and benefits to which Employee is not otherwise entitled and constitutes valuable consideration for the promises and representations made by Employee in this Release Agreement.
E.    Choice of Law.  All disputes which arise out of the interpretation and enforcement of this Release Agreement shall be governed by the laws of the State of Missouri without giving effect to its choice of law provisions.
F.    Entire Agreement.  This Release Agreement, including Exhibits B through D attached hereto, constitutes the entire agreement between the parties related to the subject matters set forth in this Release Agreement.  The parties acknowledge the terms of the Plan can be terminated or changed according to the terms set forth in the Plan.  The parties acknowledge the terms of this Release Agreement can only be changed by a written amendment to the Release Agreement signed by both parties.
G.    No Reliance.  The parties have not relied on any representations, promises, or agreements of any kind made to them in connection with this Release Agreement, except for those set forth in writing in this Release Agreement or in the Plan.
H.    Separate Signatures.  Separate copies of this Release Agreement shall constitute originals which may be signed separately but which together will constitute one single agreement.
I.    Effective Date.  This Release Agreement becomes effective and binding on the eighth calendar day following Employee’s execution of the Release Agreement pursuant to section III(A). 
J.    Severability.  If any provision of this Release Agreement, including the Plan, is held to be invalid, the remaining provisions shall remain in full force and effect.  In addition, if a court of competent jurisdiction determines the restrictions contained in the Confidentiality Agreement attached as Exhibit C to be invalid, illegal, or otherwise unenforceable or unreasonable in scope, the validity, legality, and enforceability of the other provisions of this Release Agreement shall not be affected thereby.  Any such restriction(s) in the Confidentiality Agreement determined by a court of competent jurisdiction to be invalid, illegal, or otherwise unenforceable or unreasonable will be considered by the Company and Employee to be amended as to the scope of protection, time and geographic area in whatever manner, if any, is considered reasonable by that court and, as so amended, will be enforced.  
K.    Continuing Obligations.  Any continuing obligations Employee has after separation of employment pursuant to any written agreement with Company, the Plan, or by operation of law are 
Exhibit A – Page 4

intended to survive this Release Agreement.  The terms of this Release Agreement add to any such obligations and are not intended to otherwise modify them in any way.
L.    Compensation, Injuries, Leave, Ethics.  Employee acknowledges that: (1) upon receipt of a final paycheck, Employee has received all compensation due through the Termination Date as a result of services performed for Company, except as otherwise provided in this Release Agreement; (2) Employee has reported to Company any and all work-related injuries incurred during employment; (3) Company properly provided any requested leave of absence because of Employee’s or a family member’s health condition and Employee has not been subjected to any improper treatment, conduct or actions due to a request for or taking such leave; and (4) Employee has provided the Company with written notice of any and all concerns regarding suspected ethical and compliance issues or violations on the part of Company.
M.    409A Representations.  Company has made a good faith effort to comply with current guidance under Section 409A of the Internal Revenue Code.  Notwithstanding the foregoing or any provision in this Release Agreement to the contrary, Company does not warrant or promise compliance with Section 409A, and Employee understands and agrees that Employee shall not have any claim against Company with respect to Section 409A or for any good faith effort taken to comply with Section 409A.  
IV.     Release
A.    In consideration of the recitations and agreements listed above, Employee releases, and forever discharges Company and each and every one of its component, predecessor, and successor companies, and their respective past and present agents, officers, executives, employees, attorneys, and directors (collectively the “Released Parties”), from any and all matters, claims, charges, demands, damages, causes of action, debts, liabilities, controversies, claims for attorneys’ fees, judgments, and suits of every kind and nature whatsoever, foreseen or unforeseen, known or unknown, which have arisen between Employee and the Released Parties up to the date Employee signs this Release Agreement.  
B.    This release of claims includes, but is not limited to:  (1) any claims Employee may have relating to any aspect of Employee’s employment with the Released Parties and/or the separation of that employment; (2) any breach of an actual or implied contract of employment between Employee and the Released Parties; (3) any claim of unjust or tortious discharge; (4) any common law claim (including but not limited to fraud, negligence, intentional or negligent infliction of emotional distress, negligent hiring/retention/supervision, or defamation); (5) any claims arising under (i) the Civil Rights Act of 1866, 42 U.S.C. § 1981, (ii) the Civil Rights Act of 1964, 42 U.S.C. §§ 2000e, et seq., as amended by the Civil Rights Act of 1991, (iii) the Age Discrimination in Employment Act (the “ADEA”), 29 U.S.C. §§ 621, et seq. (including but not limited to the Older Worker Benefit Protection Act (the “OWBPA”)), (iv) the Employee Retirement Income Security Act ("ERISA"), 29 U.S.C. §§ 1001, et seq., (v) the Rehabilitation Act of 1973, 29 U.S.C. §§ 701, et seq., (vi) the American with Disabilities Act, 42 U.S.C. §§ 12101, et seq., (vii) the Occupational Safety and Health Act, 29 U.S.C. §§ 651, et. seq., and (viii) the Worker Adjustment and Retraining Notification Act, 29 U.S.C. §§ 2101, et seq.; (6) any applicable state or local employment discrimination statute or ordinance; and (7) any other federal, state, or local statutes or ordinances.
C.    Employee represents and warrants that, as of the date Employee signs this Release Agreement, Employee has not filed or commenced any suit, claim, charge, complaint, or other legal proceeding of any kind against the Released Parties.  
D.    The above release does not waive claims: (1) for unemployment or workers’ compensation; (2) for vested rights under ERISA-covered employee benefit plans as applicable on the 
Exhibit A – Page 5

date Employee signs this Release Agreement; (3) that may arise after Employee signs this Release Agreement; or (4) which cannot be released by private agreement.  
E.    Employee agrees that Employee waives any right to participate in any settlement, verdict or judgment in any class, collective or multi-party action against the Released Parties arising from conduct occurring on or before the date Employee signs this Release Agreement, and that Employee waives any right to accept anything of value or any injunctive relief associated with any such pending or threatened class, collective or multi-party action against the Released Parties.  
V.    No Interference with Rights  
Nothing in this Release Agreement or any Confidentiality & Restrictive Covenant Agreement, including but not limited to, the release of claims, confidential information, return of property, non-solicitation of employees, non-solicitation of customers, non-competition, non-disparagement, availability/cooperation, agreement to arbitrate and acknowledgement provisions, (1) limits or affects Employee’s right to challenge the validity of this Release Agreement under the ADEA or the OWBPA; (2) prevents Employee from filing a charge or complaint with, or from participating in an investigation or proceeding conducted by, the Equal Employment Opportunity Commission, National Labor Relations Board, the Securities and Exchange Commission, or any other federal, state or local agency charged with the enforcement of any laws, including providing documents or other information; or (3) prevents Employee from exercising rights under Section 7 of the National Labor Relations Act to engage in joint activity with other employees, although by signing this release Employee is waiving rights to individual relief (including backpay, frontpay, reinstatement or other legal or equitable relief) in any charge, complaint, lawsuit, or other proceeding brought by Employee or on Employee’s behalf by any third-party, except for any right Employee may have to receive a payment from a government agency (and not the Company) for information provided to the government agency or where otherwise prohibited.  Notwithstanding Employee’s confidentiality and non-disclosure obligations in this Release Agreement and otherwise, Employee understands that as provided by the Federal Defend Trade Secrets Act, Employee will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret made: (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

THIS IS A RELEASE OF CLAIMS - READ CAREFULLY BEFORE SIGNING

I have read this Severance and Release Agreement.  Company advised me to seek the advice of counsel regarding the meaning and effect of this Release Agreement, and I have had the opportunity to do so.  I fully understand the terms of this Release Agreement and I understand it is a complete and final 
Exhibit A – Page 6

release of any of my claims against the Released Parties (as defined in this Release Agreement).  I sign this Release Agreement as my own free act and deed.

                    [EMPLOYEE NAME]

                                            
                    Date:                        

                     [EMPLOYING ENTITY]

                                            
                    By:    
                    Title:    
                    Date:                        
Exhibit A – Page 7

EXHIBIT A

H&R BLOCK, INC. EXECUTIVE SEVERANCE PLAN

EXHIBIT B

EQUITY AWARDS SUMMARY

EXHIBIT C

CONFIDENTIALITY & RESTRICTIVE COVENANT AGREEMENT

EXHIBIT D

RESIGNATION

To Whom It May Concern:  

Effective [INSERT DATE], I hereby resign from the following officer and director positions:

						
	Entity Name	Title
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		

____________________________________    
[EMPLOYEE NAME]

Dated:

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