SEC Contract Filing

Filing Date: 2018-09-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>2
<FILENAME>hrb20180731exhibit108.htm
<DESCRIPTION>EXHIBIT 10.8
<TEXT>
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<div><a name="sb81acc20b9714f59992dddcedbccabfc"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Exhibit 10.8 </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">WAIVER AND ACKNOWLEDGMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WAIVER AND ACKNOWLEDGMENT </font><font style="font-family:inherit;font-size:11pt;">(this &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Waiver</font><font style="font-family:inherit;font-size:11pt;">&#8221;) is entered into on June 25, 2018 by and between HRB Professional Resources LLC (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;), H&amp;R Block, Inc., a Missouri corporation and the indirect parent corporation of the Company (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Block</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and Jeffrey J. Jones II, the President and Chief Executive Officer of Block (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Executive</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:11pt;">, the Company, Block, and Executive are parties to that certain Employment Agreement dated as of August 21, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Employment Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;) which sets out the terms of Executive&#8217;s compensation, including Executive&#8217;s eligibility for an annual cash bonus under the H&amp;R Block Executive Performance Plan (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Executive Performance Plan</font><font style="font-family:inherit;font-size:11pt;">&#8221;) with a maximum bonus equal to 200% of the Executive&#8217;s target bonus; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:11pt;">, in connection with investments planned for fiscal year 2019 as a part of Block&#8217;s multi-year strategic plan, the Compensation Committee (the &#8220;Committee&#8221;) of the Board of Directors of Block intends to approve a limitation on the maximum annual short term incentive for fiscal year 2019 for all executives participating in the Executive Performance Plan of 150% of their target bonuses, with any amounts earned over target payable in restricted share units granted under the H&amp;R Block, Inc. 2018 Long Term Incentive Plan; and </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:11pt;">, to evidence his full support of the annual short term incentive structure for executives participating in the Executive Performance Plan, including the limitation described in the foregoing clause, Executive wishes to waive his right to be eligible for a maximum cash bonus equal to 200% of his target bonus under Section 3(c) of the Employment Agreement. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">NOW THEREFORE</font><font style="font-family:inherit;font-size:11pt;">, Executive, the Company, and Block hereby agree as follows:</font></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:11pt;">Executive hereby expressly (a) voluntarily waives his rights to eligibility for a maximum cash bonus of 200% of his target bonus for fiscal year 2019 and agrees that, for fiscal year 2019, his maximum short term incentive bonu