Document:

Severance and Change of Control Agreement

 Exhibit 10.02 
 MERU NETWORKS, INC. 
 SEVERANCE AND CHANGE OF CONTROL AGREEMENT

 This Severance and Change of Control Agreement (this “Agreement”), is made and entered into by and between
Dr. Bami Bastani (the “Executive”) and Meru Networks, Inc., a Delaware corporation (the “Company”). 
 RECITALS 
 It is possible that the Company could terminate Executive’s
employment with the Company. The Board of Directors of the Company (the “Board”) recognizes that such consideration can be a distraction to Executive and can cause Executive to consider alternative employment opportunities. The
Board believes it is in the best interests of the Company and its stockholders to assure that the Company will have the continued dedication and objectivity of Executive, notwithstanding the possibility, threat or occurrence of such a termination.

 The Board believes that it is in the best interests of the Company and its stockholders to provide Executive with an
incentive to continue his employment and to motivate Executive to maximize the value of the Company for the benefit of its stockholders. 
 The Board believes that it is imperative to provide Executive with certain severance benefits upon certain terminations of Executive’s employment with the Company. These benefits will provide
Executive with enhanced financial security and incentive and encouragement to remain with the Company. 
 Certain capitalized
terms used in the Agreement are defined in Section 1 below. 
 AGREEMENT 

In consideration of the mutual covenants herein contained and the continued employment of Executive by the Company, the parties agree as
follows: 
 1. Definition of Terms. The following terms referred to in this Agreement shall have the following meanings:

 (a) Cause. For purposes of this Agreement, “Cause” shall mean (i) failure by Executive to
substantially perform Executive’s duties and responsibilities of your position with the Company (other than such failure resulting from Executive’s incapacity due to physical or mental illness), provided that following a Change of Control
such failure must be willful and continued; (ii) a felony conviction or a plea of “guilty” or “no contest” to a felony and which has an adverse effect on the business or affairs of the Company or its affiliates or
stockholders, provided that following a Change of Control such adverse affect must be a material adverse effect on the Company or its affiliates or stockholders; (iii) intentional or willful misconduct or refusal to follow the reasonable and
lawful instructions of the Board; (iv) intentional breach of Company confidential information obligations which has an adverse effect on the Company or its affiliates or stockholders, provided that following a Change of Control such adverse
affect 

  
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must be a material adverse effect on the Company or its affiliates or stockholders; (v) material fraud or dishonesty against the Company; (vi) prior to a Change of Control, material
violation of a written Company policy or agreement or a material Company policy or agreement broadly understood by Company executives which has an adverse effect on the Company or its affiliates or stockholders, or, following a Change of Control,
violation of Company policy or agreement which has a material adverse effect on the Company or its affiliates or stockholders; or (vii) failure to cooperate with the Company in any investigation or formal proceeding by the Board or any
governmental or self-regulatory entity except that Executive’s failure to waive attorney-client privilege or Fifth Amendment rights in connection with any such investigation or proceeding will not constitute “Cause”. For these
purposes, no act or failure to act shall be considered “intentional or willful” unless it is done, or omitted to be done, in bad faith without a reasonable belief that the action or omission is in the best interests of the Company. No
termination of Executive for Cause shall be effective unless: Executive is given written notice from the Board of the condition that could constitute Cause and, if capable of being cured, at least thirty (30) days to cure the condition.

 (b) Change of Control. “Change of Control” shall mean the occurrence of any of the following events:

 (i) the approval by the shareholders of the Company of a plan of complete liquidation or dissolution of the Company or the
closing of a sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition to a subsidiary of the Company or to an entity, the voting securities of which are owned by the stockholders
of the Company in substantially the same proportions as their ownership of the Company’s voting securities immediately prior to such sale or disposition; 
 (ii) a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior
thereto continuing to represent directly or indirectly (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the total voting power represented by the voting
securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; 
 (iii) any
“person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becoming the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities
of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities; 
 (iv) a contest for the election or removal of members of the Board that results in the replacement during any twelve (12) month period of at least 50% of the Incumbent Directors of the Board, whose
appointment is not endorsed by the majority of the Incumbent Directors of the Board prior to such contest. “Incumbent Directors” is defined as: (x) Directors as of the date of this Agreement; and (y) Directors elected other than
in connection with an actual or threatened proxy contest. 

  
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 Notwithstanding the foregoing, the term “Change of Control” shall not be deemed to have occurred
if the Company files for bankruptcy protection, or if a petition for involuntary relief is filed against the Company. 
 (c)
Involuntary Termination. “Involuntary Termination” shall mean Executive’s termination by the Company without Cause or resignation by Executive within thirty (30) days following the expiration of any Company cure
period following the occurrence of one or more of the following without Executive’s written consent: 
 (i) A material
reduction in Executive’s responsibilities relative to Executive’s position, title, authorities or responsibilities in effect on the date of this Agreement, or, on or following a Change of Control, a material reduction in Executive’s
responsibilities relative to Executive’s authorities or responsibilities in effect immediately prior to the Change of Control, in each case without the Executive’s consent; 

(ii) A material reduction by the Company of Executive’s annual base compensation rate and / or target bonus dollar amount as of the
date of this Agreement other than a reduction, not to exceed 15% of the aggregate base salary and target bonus opportunity dollar amount, that is similarly imposed on the Company’s other executive officers (other than the new CEO), or, on or
following a Change of Control, a material reduction by the Company of Executive’s annual base compensation rate and / or target bonus dollar amount as in effect immediately prior to the Change of Control, in each case without the
Executive’s consent; 
 (iii) A material breach of this Agreement by the Company; 

(iv) Without Executive’s express written consent, the relocation of Executive’s principal place of employment to a facility or
a location more than thirty-five (35) miles from Executive’s current location; or 
 (v) The failure of the Company to
obtain the assumption of this Agreement or any other agreement between the Company and Executive by any successors contemplated in Section 7(a) below. 
 No event will be deemed an Involuntary Termination pursuant to clauses (i)-(v) above without the Executive first providing the Company (copying the Board) with written notice of the condition that would
constitute the Involuntary Termination within ninety (90) days of the event that Executive believes constitutes the Involuntary Termination and at least thirty (30) days prior to effectiveness of such resignation for Involuntary
Termination and such condition constituting the Involuntary Termination has not been cured prior to effectiveness of such resignation. A termination due to death or disability shall not be considered an Involuntary Termination. 

(d) Termination Date. “Termination Date” shall mean Executive’s “separation from service” within
the meaning of that term under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 
 2. Term of Agreement. This Agreement shall terminate upon the date that all obligations of the parties hereto under this Agreement have been satisfied. 

  
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 3. At-Will Employment. The Company and Executive acknowledge that Executive’s
employment is and shall continue to be at-will, as defined under applicable law. 
 4. Severance Benefits. 

(a) Involuntary Termination. If Executive’s employment with the Company (and any parent or subsidiary of the Company
employing Executive) terminates as a result of an Involuntary Termination at any time, and subject to Executive’s compliance with his obligations hereunder (including Sections 9, 10 and 11 below) Executive’s execution of a
general release of claims in favor of the Company in substantially the form attached hereto as Exhibit A or such other form with similar customary terms reasonably requested by the Company (the “Release”), and its
non-revocation by Executive and it becoming effective within sixty (60) days following the Termination Date as well as its faithful observance by the Executive, then Executive shall be entitled to the following severance benefits: 

(i) Severance Payments. Executive will be paid severance benefits in the form of salary continuation for a period of eighteen
(18) months of Executive’s annual base salary as in effect as of the Termination Date (provided that such period shall be twenty-four (24) months in the event of an Involuntary Termination prior to December 31, 2012), less
applicable withholding commencing on the first regular payroll date following the date that Executive’s release of claims becomes effective, provided that the release must become effective by the date specified by the Company which shall be no
later than sixty (60) days after the Termination Date. Notwithstanding the preceding sentence, if any portion of the severance amount is subject to Section 409A of the Code as nonqualified deferred compensation, then the severance amount
shall be paid as follows: three-eighteenths (3/18ths) of such amount shall be paid on the first regular payroll date following the sixtieth (60th) day after the Termination Date and one-eighteenth (1/18th) of such amount shall be paid
on the single, corresponding regular payroll date during each of the next 15 months thereafter (provided that such period shall be twenty-one (21) months in the event of an Involuntary Termination prior to December 31, 2012).

 (ii) Continued Health Insurance Benefits. To the extent such benefits are available under the Company’s benefits
plans, Executive will receive continuation of the health insurance benefits provided to Executive and Executive’s eligible dependents under the Company’s benefit plans, subject to Executive’s continued payment of the employee-portion
of the premium contributions for Executive and Executive’s eligible dependents as required immediately before Executive’s termination of employment, until the earlier of: (i) the end of the eighteen (18) month period following
Termination Date (provided that such period shall be twenty-four (24) months in the event of an Involuntary Termination prior to December 31, 2012) or (ii) the date Executive or Executive’s eligible dependents become covered
under another employer group health plan. Alternatively, if Executive so elects and pays to continue health insurance under Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), then starting the next
calendar month after the Termination Date, Executive will be reimbursed on a monthly basis in an amount equal to the monthly amount the Company was paying as the company-portion of premium contributions for health coverage for Executive and
Executive’s eligible dependents immediately before Executive’s termination of employment, until the earlier of: (i) the end of the eighteen (18) month period following Termination Date (provided that such period shall be
twenty-four (24) months in the event of an Involuntary 

  
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Termination prior to December 31, 2012) or (ii) the date Executive or Executive’s eligible dependents lose eligibility for COBRA continuation coverage. The period of such
company-reimbursed COBRA continuation coverage shall be considered part of Executive’s (and Executive’s eligible dependents’) COBRA coverage entitlement period. Executive will be solely responsible for timely electing such
continuation coverage for Executive and Executive’s eligible dependents. Any increase in the number of covered dependents by Executive during the period that Executive continues in the Company’s health insurance benefit plans or receives
company-paid reimbursement of COBRA premiums will be at Executive’s own expense. 
 (b) Involuntary Termination On or
Following Change of Control. If Executive’s employment with the Company (and any parent or subsidiary of the Company employing Executive) terminates as a result of an Involuntary Termination on or at any time within three (3) months
before or twelve (12) months after a Change of Control, and subject to Executive’s compliance with his obligations hereunder (including Sections 9, 10 and 11 below) Executive’s execution of the Release and its non-revocation
by Executive and it becoming effective within sixty (60) days following the Termination Date as its faithful observance by the Executive, then in lieu of the severance benefits provided under Section 4(a) above, Executive shall be entitled
to the following severance benefits: 
 (i) Vesting Acceleration. Executive will receive acceleration of the vesting and
exercisability of all of Executive’s equity (including, but not limited to, options to acquire common stock of the Company or its successor, or the parent of either, restricted stock units, and other Company equity) to the extent such options
and other equity grants are outstanding and vest based solely on services to the Company over time, or acceleration of vesting of any deferred compensation into which Executive’s stock options and other equity grants were converted upon the
Change of Control; provided, however, that if Executive’s options or other equity grants are terminated upon the Change of Control without the payment of consideration therefor, then the vesting and exercisability of such options and other
equity shall be accelerated immediately prior to the Change of Control. For the avoidance of doubt, Executive shall not receive acceleration of vesting of any options to acquire common stock of the Company that vest based on Company performance or
other metrics beyond time-based service to the Company unless such acceleration is set forth in the option agreement governing such option, and which agreement has been approved by the Board of Directors. 

(ii) Severance Payments. Executive will be paid severance benefits in the form of salary continuation for a period of twenty-four
(24) months of Executive’s annual base salary as in effect as of the Termination Date, less applicable withholding commencing on the first regular payroll date following the date that Executive’s release of claims becomes effective,
provided that the release must become effective by the date specified by the Company which shall be no later than sixty (60) days after the Termination Date. Notwithstanding the preceding sentence, if any portion of the severance amount is
subject to Section 409A of the Code as nonqualified deferred compensation, then the severance amount shall be paid as follows: three-twenty-fourths (3/24th) of such amount shall be paid on the first regular payroll date following the
sixtieth (60th) day after the Termination Date and one-twenty-fourth (1/24th) of such amount shall be paid on the single, corresponding regular payroll date during each of the next twenty-one (21) months thereafter. 

  
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 (iii) Continued Health Insurance Benefits. To the extent such benefits are available
under the Company’s benefits plans, Executive will receive continuation of the health insurance benefits provided to Executive and Executive’s eligible dependents under the Company’s benefit plans, subject to Executive’s
continued payment of the employee-portion of the premium contributions for Executive and Executive’s eligible dependents as required immediately before Executive’s termination of employment, until the earlier of: (i) the end of the
twenty-four (24) month period following Termination Date or (ii) the date Executive or Executive’s eligible dependents become covered under another employer group health plan. Alternatively, if Executive so elects and pays to continue
health insurance under Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), then starting the next calendar month after the Termination Date, Executive will be reimbursed on a monthly basis in an
amount equal to the monthly amount the Company was paying as the company-portion of premium contributions for health coverage for Executive and Executive’s eligible dependents immediately before Executive’s termination of employment, until
the earlier of: (i) the end of the twenty-four (24) month period following Termination Date or (ii) the date Executive or Executive’s eligible dependents lose eligibility for COBRA continuation coverage. The period of such
company-reimbursed COBRA continuation coverage shall be considered part of Executive’s (and Executive’s eligible dependents’) COBRA coverage entitlement period. Executive will be solely responsible for timely electing such
continuation coverage for Executive and Executive’s eligible dependents. Any increase in the number of covered dependents by Executive during the period that Executive continues in the Company’s health insurance benefit plans or receives
company-paid reimbursement of COBRA premiums will be at Executive’s own expense. 
 (c) Accrued Wages and Vacation;
Expenses. Without regard to the reason for, or the timing of, Executive’s termination of employment: (i) the Company shall pay Executive any unpaid wages due for periods prior to the Termination Date; (ii) the Company shall pay
Executive all of Executive’s accrued and unused vacation through the Termination Date; (iii) Executive shall be entitled to receive benefits in accordance with the terms of any applicable Company benefit plans; and (iv) following
submission of proper expense reports by Executive, the Company shall reimburse Executive for all expenses reasonably and necessarily incurred by Executive in connection with the business of the Company prior to the Termination Date. These payments
shall be made promptly upon termination and within the period of time mandated by law. 
 5. Limitation on Payments. In
the event that the severance and other benefits provided for in this Agreement or otherwise payable to Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) would be subject to
the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then Executive’s benefits under this Agreement shall be either: 
 (a) Delivered in full; or 
 (b) Delivered as to such lesser extent which would
result in no portion of such benefits being subject to the Excise Tax, 

  
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whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the Excise Tax, results in the receipt by Executive on an after-tax basis, of the
greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code. 
 Unless the Company and Executive otherwise agree in writing, any determination required under this Section 5 shall be made in writing by the Company’s independent public accountants (the
“Accountants”), whose determination shall be conclusive and binding upon Executive and the Company for all purposes. For purposes of making the calculations required by this Section 5, the Accountants may make reasonable assumptions
and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and Executive shall furnish to the Accountants such information
and documents as the Accountants may reasonably request in order to make a determination under this Section 5. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this
Section 5. In the event that a reduction is required, the reduction shall be applied first to any benefits that are not subject to Section 409A of the Code, and then shall be applied to benefits (if any) that are subject to
Section 409A of the Code, with the benefits payable latest in time subject to reduction first. 
 6. Section 409A;
Delayed Commencement of Benefits. To the extent (a) any payments or benefits to which Executive becomes entitled under this Agreement, or under any agreement or plan referenced herein, in connection with Executive’s termination of
employment with the Company constitute deferred compensation subject to Section 409A of the Code and (b) Executive is deemed at the time of such termination of employment to be a “specified employee” under Section 409A of
the Code, then such payments shall not be made or commence until the earliest of (i) the expiration of the six (6)-month period measured from the date of Executive’s “separation from service” (as such term is at the time defined
in Treasury Regulations under Section 409A of the Code) from the Company; or (ii) the date of Executive’s death following such separation from service; provided, however, that such deferral shall only be effected to the extent
required to avoid adverse tax treatment to Executive, including (without limitation) the additional twenty percent (20%) tax for which Executive would otherwise be liable under Section 409A(a)(1)(b) of the Code in the absence of such
deferral. Upon the expiration of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a single sum or in installments) in the absence of this paragraph shall be paid to Executive or
Executive’s beneficiary in one lump sum (without interest). Any termination of Executive’s employment is intended to constitute a “separation from service” and will be determined consistent with the rules relating to a
“separation from service” as such term is defined in Treasury Regulation Section 1.409A-1. It is intended that each installment of the payments provided hereunder constitute separate “payments” for purposes of Treasury
Regulation Section 1.409A-2(b)(2)(i). It is further intended that payments hereunder satisfy, to the greatest extent possible, the exemption from the application of Section 409A of the Code (and any state law of similar effect)
provided under Treasury Regulation Section 1.409A-1(b)(4) (as a “short-term deferral”). To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision
will be read in such a manner so that all payments hereunder comply with 

  
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Section 409A of the Code. Except as otherwise expressly provided herein, to the extent any expense reimbursement or the provision of any in-kind benefit under this Agreement is determined to
be subject to Section 409A of the Code, the amount of any such expenses eligible for reimbursement, or the provision of any in-kind benefit, in one calendar year shall not affect the expenses eligible for reimbursement in any other taxable year
(except for any lifetime or other aggregate limitation applicable to medical expenses), in no event shall any expenses be reimbursed after the last day of the calendar year following the calendar year in which you incurred such expenses, and in no
event shall any right to reimbursement or the provision of any in-kind benefit be subject to liquidation or exchange for another benefit. Executive and the Company agree to work together in good faith to consider amendments to the Agreement and to
take such reasonable actions that are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to Executive under Section 409A of the Code. 

7. Successors. 
 (a) Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all
of the Company’s business and/or assets shall assume the Company’s obligations under this Agreement and agree expressly to perform the Company’s obligations under this Agreement in the same manner and to the same extent as the Company
would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company” shall include any successor to the Company’s business and/or assets which executes and delivers
the assumption agreement described in this subsection (a) or which becomes bound by the terms of this Agreement by operation of law. 
 (b) Executive’s Successors. Without the written consent of the Company, Executive shall not assign or transfer this Agreement or any right or obligation under this Agreement to any other
person or entity. Notwithstanding the foregoing, the terms of this Agreement and all rights of Executive hereunder shall inure to the benefit of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees. 
 8. Notices. 

(a) General. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have
been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of Executive, mailed notices shall be addressed to Executive at the home address which Executive
most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary. 

(b) Notice of Termination. Any termination by the Company for Cause or by Executive as a result of an Involuntary Termination
shall be communicated by a notice of termination to the other party hereto given in accordance with this Section 8. Such notice shall indicate the specific termination provision in this Agreement relied upon, shall set forth in

  
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reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and shall specify the termination date. The failure by Executive to
include in the notice any fact or circumstance which contributes to a showing of Involuntary Termination shall not waive any right of Executive hereunder or preclude Executive from asserting such fact or circumstance in enforcing Executive’s
rights hereunder, subject to the requirements of Section 1(c). 
 9. Confidentiality; Non-Sollicitation. Executive
shall continue to comply with the terms and conditions of the Employee’s Proprietary Information and Inventions Agreement between Executive and the Company (“PIIA”). Executive shall return all of the Company’s
property and confidential and proprietary information in his possession to the Company on the Termination Date. Without limiting the foregoing, Executive agrees that for a period of twelve (12) months immediately following the Termination Date,
Executive shall not either directly or indirectly solicit, induce, recruit or encourage any of the Company’s employees to leave their employment, or take away such employees, or attempt to solicit, induce, recruit, encourage, attempt to hire or
take away employees of the Company, either for the benefit of Executive or any other person or entity. During such period of twelve (12) months immediately following the Termination Date, Executive further agrees not to otherwise interfere with
the relationship of the Company or any of its subsidiaries or affiliates with any person who, to the knowledge of Executive, is employed by or otherwise engaged to perform services for the Company or its subsidiaries or affiliates (including, but
not limited to, any independent sales representatives or organizations) or who is, or was within the then most recent prior twelve-month period as of the Termination Date, a customer or client of the Company, or any of its subsidiaries. 

10. Non-Disparagement. Executive agrees that for a period of twelve (12) months immediately following the Termination Date,
Executive will refrain from making any derogatory or disparaging statements about the Company, its board of directors, officers, management, practices, procedures, or business operations to any person or entity. For a period of twelve
(12) months immediately following the Termination Date, the Company (in its formal public statements), and the Company’s executive officers and directors will refrain from making any derogatory or disparaging statements about Executive to
any person or entity. Nothing in this paragraph shall prohibit Executive or the Company from providing truthful information in response to a subpoena or other legal or regulatory process. The foregoing requirement under this Section 10 will not
apply to any statements (i) that Executive makes any derogatory or disparaging statements made by the Company (in its formal public statements), its executive officers and/or its directors regarding Executive or Executive’s performance as
an employee of the Company so long as Executive’s statements are, in the reasonable, good faith judgment of Executive, true and extend no further than addressing such statements by the Company, and (ii) that the Company (in its formal
public statements), its executive officers and/or its directors make any derogatory or disparaging statements made by Executive so long as the Company’s, its executive officers’ and/or its directors’ statements are, in the reasonable,
good faith judgment of the person making the statement, true and extend no further than addressing such statements by the Executive. 
 11. Resignation of Titles and Positions. Unless otherwise requested in writing by the Board, not later than the Termination Date, Executive will resign effective as of the Termination Date as an officer
of the Company (including any and all titles in such capacity) and from any and all officerships, directorships or fiduciary positions with the Company or its affiliates. 

  
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 12. Arbitration. 

Any controversy involving the construction or application of any terms, covenants or conditions of this Agreement, or any claims arising
out of any alleged breach of this Agreement, will be governed by the rules of the American Arbitration Association and submitted to and settled by final and binding arbitration in Santa Clara County, California, except that any alleged breach of
Executive’s confidential information obligations shall not be submitted to arbitration and instead the Company may seek all legal and equitable remedies, including without limitation, injunctive relief. 

13. Miscellaneous Provisions. 
 (a) No Duty to Mitigate. Executive shall not be required to mitigate the amount of any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings that Executive
may receive from any other source. 
 (b) Waiver. No provision of this Agreement may be modified, waived or discharged
unless the modification, waiver or discharge is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive). No waiver by either party of any breach of, or of compliance with, any condition or
provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 
 (c) Integration. This Agreement represents the entire agreement and understanding between the parties with respect to the payment of severance or other benefits if Executive’s employment with
the Company terminates as a result of an Involuntary Termination, and supersedes all prior or contemporaneous agreements, whether written or oral, with respect thereto, including without limitation the prior Severance and Change of Control Agreement
between the Company and Executive; provided, however, that this Agreement does not supersede any agreement in respect of the payment of severance or other benefits in circumstances pursuant to which benefits would not be payable hereunder.

 (d) Indemnification and D&O Insurance. Subject to applicable law, Executive will be provided indemnification to
the maximum extent permitted by the Company’s Certificate of Incorporation or Bylaws, including, if applicable, any directors and officers insurance policies, with such indemnification to be on terms determined by the Board or any of its
committees, but on terms not materially less favorable than provided to any other Company executive officer and subject to the terms of any separate written indemnification agreement between the Company and Executive. 

(e) Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the internal
substantive laws, but not the conflicts of law rules, of the State of California. 

  
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 (f) Severability. The invalidity or unenforceability of any provision or provisions
of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 
 (g) Employment Taxes. All payments made pursuant to this Agreement shall be subject to withholding of applicable income and employment taxes. 

(h) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which
together will constitute one and the same instrument. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below.

  

							
		 		 	MERU NETWORKS, INC.
				
	Dated: March 19, 2012	 		 	By	 	         /s/ William Quigley

		 		 		 	William Quigley, Chairman of the Board
			
		 		 	Dr. Bami Bastani, an individual
			
	Dated: March 20, 2012	 		 	 /s/ Dr. Bami Bastani

		 		 	Dr. Bami Bastani

  
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 EXHIBIT A 

GENERAL RELEASE OF ALL CLAIMS 
 [NOTE: DO NOT SIGN UNTIL TERMINATION OF EMPLOYMENT.] 
 This General Release of All
Claims (hereinafter “Agreement”) is entered into by and between Dr. Bami Bastani (hereinafter “Executive”) and Meru Networks, Inc. (hereinafter the “Company”). 

WHEREAS, Executive has been employed by the Company; and 
 WHEREAS Executive and the Company entered into the Employee’s Proprietary Information and Inventions Agreement between Executive and the Company (“PIIA”); 

WHEREAS, the Executive is the holder of certain outstanding options to purchase Company common stock (“Company
Options”); and 
 WHEREAS Executive and the Company desire to mutually, amicably and finally resolve and compromise all
issues and claims surrounding Executive’s employment by the Company and the termination thereof; 
 NOW THEREFORE, in consideration
for the mutual promises and undertakings of the parties as set forth below, Executive and the Company hereby enter into this Agreement. 
 1.
Consideration. In consideration of the payments and benefits offered to Executive by the Company pursuant to the Severance and Change of Control Agreement by and between Executive and the Company dated March 19, 2012 (the
“Severance and Change of Control Agreement”), and in connection with the termination of Executive’s employment, Executive agrees to the following general release (the “Release”). 

2. General Release of Claims.
 (a) In further consideration for the payment and undertakings described above, to the fullest extent permitted by law, Executive, individually and on behalf of his attorneys, representatives, successors,
and assigns, does hereby completely release and forever discharge the Company, its affiliated and subsidiary corporations, and its and their shareholders, officers and all other representatives, agents, directors, employees, successors and assigns,
from all claims, rights, demands, actions, obligations, and causes of action of any and every kind, nature and character, known or unknown, which Executive may now have, or has ever had, against them arising from or in any way connected with the
employment relationship between the parties, any actions during the relationship, or the termination thereof. This release covers all statutory, common law, constitutional and other claims, including but not limited to, all claims for wrongful
discharge in violation of public policy, breach of contract, express or implied, breach of covenant of good faith and fair dealing, intentional or negligent infliction of emotional distress, intentional or negligent misrepresentation,
discrimination, any tort, 

  
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personal injury, or violation of statute including but not limited to Title VII of the Civil Rights Act, the Age Discrimination in Employment Act, the Americans with Disabilities Act, and
the California Fair Employment and Housing Act, which Executive may now have, or has ever had. The parties agree that any past or future claims for money damages, loss of wages, earnings and benefits, both past and future, medical expenses,
attorneys’ fees and costs, reinstatement and other equitable relief, are all released by this Agreement. 

(b) Executive and the Company do not intend to release claims for benefits owed by the Company to the Executive under the
Severance and Change of Control Agreement, including with respect to vested Company Options, and claims that Executive may not release as a matter of law, including but not limited to claims for indemnity under California Labor Code section 2802.

 (c) To the fullest extent permitted by law, any dispute regarding the scope of this general release shall be
determined by an arbitrator under the procedures set forth in the arbitration clause below. 
 (d) Executive and
the Company do not intend to release any and all right that Executive may have to indemnification by the Company pursuant to the by-laws and certificate of incorporation of the Company, pursuant to any agreement between the Company and Executive,
and pursuant to any insurance policies. 
 3. Waiver of Unknown Claims. Executive has read or been advised of Section 1542 of
the Civil Code of the State of California, which provides as follows: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH
THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 

Executive understands that Section 1542 gives him the right not to release existing claims of which he is not now aware, unless he voluntarily
chooses to waive this right. Having been so apprised, he nevertheless hereby voluntarily elects to and does waive the rights described in Section 1542, and elects to assume all risks for claims that now exist in his favor, known or unknown.

 4. Non-Admission. It is understood and agreed that the furnishing of the consideration for this Agreement shall be deemed or
construed as an admission of liability or wrongdoing of any kind by the Company. 
 5. Covenant Not to Sue.

(a) To the fullest extent permitted by law, at no time subsequent to the execution of this Agreement will Executive
pursue, or cause or knowingly permit the prosecution, in any state, federal or foreign court, or before any local, state, federal or foreign administrative agency, or any other tribunal, any charge, claim or action of any kind, nature and character

  
 -14-

 
whatsoever, known or unknown, which he may now have, has ever had, or may in the future have against the Company and/or any officer, director, employee or agent of the Company, which is based in
whole or in part on any matter covered by this Agreement. 
 (b) Nothing in this paragraph shall prohibit
Executive from filing a charge or complaint with a government agency such as but not limited to the Equal Employment Opportunity Commission, the National Labor Relations Board, the Department of Labor, the California Department of Fair Employment
and Housing, or other applicable state agency. However, Executive understands and agrees that, by entering into this Agreement, he is releasing any and all individual claims for relief, and that any and all subsequent disputes between the Company
and Executive shall be resolved in arbitration. 
 (c) Nothing in this Agreement shall prohibit or impair
Executive or the Company from complying with all applicable laws, nor shall this Agreement be construed to obligate either party to commit (or aid or abet in the commission of) any unlawful act. 

6. Waiver of Right to Reemployment. Executive agrees that he will not be entitled to any further employment with the Company. He therefore
waives any claim now or in the future to other employment or reemployment with the Company, or any of its subsidiaries, and agrees that he will not apply for nor accept employment with the Company or any of its subsidiaries in the future.

 7. Return of Company Property; Obligation to Protect Proprietary Information. To the extent Executive has not already done so, he
agrees to return to the Company all Company, including but not limited to the files and documents, whether electronic or hardcopy, and whether in Executive’s possession or under his control. Executive reaffirms and agrees to observe and abide
by the terms of the PIIA, specifically including the provisions therein regarding nondisclosure of the Company’s trade secrets and confidential and proprietary information. Executive’s signature below constitutes his certification under
penalty of perjury that he has returned all documents and other items provided to Executive by the Company, developed or obtained by Executive in connection with his employment with the Company, or otherwise belonging to the Company. 

8. Acknowledgement of Representation or Opportunity to be Represented by Counsel; Attorneys’ Fees. Executive acknowledges that he has
been or had the opportunity to be represented by counsel in the negotiation and preparation of this Agreement. The parties further agree that each party will be responsible for his or its own attorney’s fees and costs incurred in connection
with this Agreement. 
 9. Arbitration. Executive and the Company agree that any controversy or claim arising out of or relating to
this Agreement, or the breach thereof, shall be submitted to the American Arbitration Association (“AAA”) and that a neutral arbitrator will be selected in a manner consistent with its National Rules for the Resolution of
Employment Disputes. The arbitration proceedings will allow for discovery according to the rules set forth in the National Rules for the Resolution of Employment Disputes (the “Rules”). All arbitration proceedings shall be
conducted in San Mateo County, California. Except as provided by the Rules, arbitration shall be the sole, exclusive and final remedy for any dispute between Executive and the Company. 

  
 -15-

 
Accordingly, except as provided for by the Rules, neither Executive nor the Company will be permitted to pursue court action regarding claims that are subject to arbitration. Executive and the
Company expressly waive any entitlement to have such controversies decided by a court or a jury. In addition to the right under the Rules to petition the court for provisional relief, Executive agrees that any party may also petition the court for
injunctive relief where either party alleges or claims a violation of this Agreement. 
 10. Governing Law. This Agreement shall be
construed in accordance with, and governed by, the laws of the State of California. 
 11. Savings Clause. Should any of the
provisions of this Agreement be determined to be invalid by a court, arbitrator, or government agency of competent jurisdiction, it is agreed that such determination shall not affect the enforceability of the other provisions herein. Specifically,
should a court, arbitrator, or agency conclude that a particular claim may not be released as a matter of law, it is the intention of the parties that the general release, the waiver of unknown claims, and the covenant not to sue above shall
otherwise remain effective to release any and all other claims. 
 12. Complete and Voluntary Agreement. This Agreement, together
with (a) the PIIA, (b) the Transition Agreement, (c) the Company Options and (d) any agreements between the Company and Executive relating to any and all right that Executive may have to indemnification by the Company pursuant to
the by-laws and certificate of incorporation of the Company or pursuant to any agreement between the Company and Executive, constitutes the entire understanding of the parties on the subjects covered. Executive expressly warrants that he has read
and fully understands this Agreement; that he has had the opportunity to consult with legal counsel of his own choosing and to have the terms of the Agreement fully explained to him; that he is not executing this Agreement in reliance on any
promises, representations or inducements other than those contained herein; and that he is executing this Agreement voluntarily, free of any duress or coercion. 
 13. Modification. No modification, amendment or waiver of any provision of this Agreement shall be effective unless in writing signed by Executive and an authorized representative of the
Company. 
 14. Notice and Revocation Period. Executive acknowledges that the Company advised him to consult with an attorney prior
to signing this Agreement; that he understands that he has at least twenty-one (21) days in which to consider whether he should sign this Agreement; and that he further understands that if he signs this Agreement, he will be given seven
(7) days following the date on which he signs this Agreement to revoke it and that this Agreement will not be effective until after this seven-day period has expired without revocation by him. Executive acknowledges that if he does not execute
this Agreement within thirty (30) days following his last day of employment with the Company, this Agreement will become null and void, and Executive will have no right to the payments and benefits set forth in the Severance and Change of
Control Agreement. 
 15. Effective Date. This Agreement is effective on the eighth (8th) day after Executive signed it and without revocation by him.

  
 -16-

 16. Counterparts. This Agreement may be executed in counterparts, and each counterpart shall have the
same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. 
 [Signature Page Follows] 

  
 -17-

							
		 		 	MERU NETWORKS, INC.
				
	Dated:
                                        
	 		 	By:	 	  

				
		 		 	Name:	 	  

				
		 		 	Title:	 	  

			
		 		 	[                    ], an individual
				
	Dated:
                                        
	 		 		 	  

 [Signature Page to General Release of Claims] 

  
 -18-Form of Medium-Term Notes, Series K

 Exhibit 4.1 
 [Face of Note] 
 Unless this certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation (“DTC”), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede &
Co. or in such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
  

			
	 CUSIP NO. 94986RHS3
	  	FACE AMOUNT: $            
	 REGISTERED NO.            
	  	

 WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES K 
 Due Nine Months or More From Date of Issue 
 Notes Linked to a Global ETF
Basket 
 due September 22, 2015 
 WELLS FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the “Company,” which term includes any successor
corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, in such coin or currency of the United States of America as at the time of payment is legal tender
for payment of public and private debts, an amount equal to the Redemption Amount (as defined below) on the Stated Maturity Date, and to pay interest on the Face Amount hereof from March 22, 2012 or from the most recent Interest Payment Date to
which interest has been paid or duly provided for semi-annually on each March 22 and September 22, commencing September 22, 2012 and ending at Maturity (each, an “Interest Payment Date”), at the rate of 3.25% per
annum. The “Initial Stated Maturity Date” shall be September 22, 2015. If no Market Disruption Event (as defined below) occurs or is continuing with respect to a Basket Component (as defined below) on the scheduled Calculation
Day (as defined below), the Initial Stated Maturity Date will be the “Stated Maturity Date.” If a Market Disruption Event occurs or is continuing with respect to a Basket Component on the scheduled Calculation Day, the
“Stated Maturity Date” shall be the later of (i) three Business Days (as defined below) after the postponed Calculation Day with respect to such Basket Component (or, if the Calculation Day is postponed with respect to more
than one Basket Component, three Business Days after the latest postponed Calculation Day) and (ii) the Initial Stated Maturity Date. 
 “Face Amount” shall mean, when used with respect to this Security, the amount set forth on the face of this Security as its “Face Amount.” 

 Payment of Interest and the Redemption Amount 

The interest so payable on this Security, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the
Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest next preceding such Interest Payment Date, provided that the
interest payable on the Stated Maturity Date shall be paid to the Person to whom the Redemption Amount is paid. The Regular Record Date for an Interest Payment Date shall be the fifteenth calendar day, whether or not a Business Day, prior to such
Interest Payment Date. If an Interest Payment Date is not a Business Day, interest on this Security shall be payable on the next day that is a Business Day, with the same force and effect as if made on such Interest Payment Date, and without any
interest or other payment with respect to the delay. 
 Except as described below for the first Interest Period, on each
Interest Payment Date, interest will be paid for the period commencing on and including the immediately preceding Interest Payment Date and ending on and including the day immediately preceding that Interest Payment Date. This period is referred to
as an “Interest Period.” The first Interest Period will commence on and include March 22, 2012 and end on and include September 21, 2012. Interest on this Security will be computed on the basis of a 360-day year of twelve 30-day
months. 
 Any interest not punctually paid or duly provided for will forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by
the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Payment of interest on this Security will be made in immediately available funds at the office or agency of the Company maintained for
that purpose in the City of Minneapolis, Minnesota; provided, however, that, at the option of the Company, payment of interest may be paid by check mailed to the Person entitled thereto at such Person’s last address as it appears in the
Security Register or by wire transfer to such account as may have been designated by such Person. Any payments on this Security at Maturity, including the Redemption Amount, will be made against presentation of this Security at the office or agency
of the Company maintained for that purpose in the City of Minneapolis, Minnesota and at any other office or agency maintained by the Company for such purpose. Notwithstanding the foregoing, for so long as this Security is a Global Security
registered in the name of the Depositary, all payments on this Security will be made to the Depositary by wire transfer of immediately available funds. 

  
 2 

 Determination of Redemption Amount 

The “Redemption Amount” of this Security will equal: 

 

	 	•	 	 If the Ending Price is greater than the Starting Price: the lesser of: 

 

	 	(i)	the Face Amount plus: 

  

 
  

	 	(ii)	the Capped Value; 

  

	 	•	 	 If the Ending Price is less than or equal to the Starting Price, but greater than or equal to the Threshold Price: the Face Amount; or

  

	 	•	 	 If the Ending Price is less than the Threshold Price: the Face Amount minus: 

 
 

 
 “Basket” shall mean a basket comprised of the following Basket Components, with the
return of each Basket Component having the weighting noted parenthetically: SPDR S&P MidCap 400 ETF Trust (22%); iShares Russell 2000 Index Fund (15%); iShares MSCI EAFE Index Fund (42%); and iShares MSCI Emerging Markets Index Fund (21%).

 “Basket Component” shall mean each of the SPDR S&P MidCap 400 ETF Trust, iShares Russell 2000 Index
Fund, iShares MSCI EAFE Index Fund and iShares MSCI Emerging Markets Index Fund. 
 “Underlying Index” shall
mean each of the S&P MidCap 400 Index, the Russell 2000 Index, the MSCI EAFE Index and the MSCI Emerging Markets Index. 

The “Pricing Date” shall mean March 19, 2012. 

The “Starting Price” is 100. 
 The “Ending Price” will be calculated based on the weighted returns of the Basket Components and will be equal to the product of (i) 100 and (ii) an amount equal to 1 plus the
sum of: (A) 22% of the Component Return of the SPDR S&P MidCap 400 ETF Trust; (B) 15% of the Component Return of the iShares Russell 2000 Index Fund; (C) 42% of the Component Return of the iShares MSCI EAFE Index Fund; and
(D) 21% of the Component Return of the iShares MSCI Emerging Markets Index Fund. 

  
 3 

 The “Component Return” of a Basket Component will be equal to: 

Final Component Price – Initial Component Price 
 Initial Component Price 
     where, 

 

	 	•	 	 the “Initial Component Price” is the Fund Closing Price of such Basket Component on the Pricing Date; and

  

	 	•	 	 the “Final Component Price” will be the Fund Closing Price of such Basket Component on the Calculation Day.

 The Initial Component Prices of the Basket Components are as follows: SPDR S&P MidCap 400 ETF Trust
($182.35); iShares Russell 2000 Index Fund ($83.73); iShares MSCI EAFE Index Fund ($55.80); and iShares MSCI Emerging Markets Index Fund ($43.92). 
 The “Fund Closing Price,” with respect to a Basket Component on any Trading Day, means the product of (i) the Closing Price of one share of such Basket Component (or one unit of any
other security for which a Fund Closing Price must be determined) on such Trading Day and (ii) the Adjustment Factor applicable to such Basket Component on such Trading Day. 

The “Closing Price” with respect to a share of a Basket Component (or one unit of any other security for which a Closing
Price must be determined) on any Trading Day means the price, at the scheduled weekday closing time, without regard to after hours or any other trading outside the regular trading session hours, of the share on the principal United States securities
exchange registered under the Securities Exchange Act of 1934, as amended, on which the share (or any such other security) is listed or admitted to trading. 
 The “Adjustment Factor” means, with respect to a share of a Basket Component (or one unit of any other security for which a Fund Closing Price must be determined), 1.0, subject to
adjustment in the event of certain events affecting the shares of such Basket Component. See “Anti-dilution Adjustments Relating To A Basket Component; Alternate Calculation—Anti-dilution Adjustments.” 

The “Capped Value” is 126% of the Face Amount of this Security. 

The “Threshold Price” is equal to 90% of the Starting Price. 

The “Participation Rate” is 100%. 
 “Business Day” shall mean a day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulation
to close in New York, New York or Minneapolis, Minnesota. 
 A “Trading Day” with respect to a Basket Component
means a day, as determined by the Calculation Agent, on which (i) the Relevant Exchange (as defined below) with respect to such Basket Component is open for trading for its regular trading session and (ii) the Relevant Exchange on which
futures or options contracts related to such Basket Component or any successor thereto, if applicable, are traded, are open for trading for their respective regular trading sessions. 

  
 4 

 The “Calculation Day” shall be September 15, 2015. If such day is not
a Trading Day with respect to any Basket Component, the Calculation Day for such Basket Component will be postponed to the next succeeding day that is a Trading Day for such Basket Component. The Calculation Day is also subject to postponement due
to the occurrence of a Market Disruption Event. If a Market Disruption Event occurs or is continuing with respect to a Basket Component on the Calculation Day, such Calculation Day for such Basket Component will be postponed to the first succeeding
Trading Day on which a Market Disruption Event for such Basket Component has not occurred and is not continuing. If such first succeeding Trading Day has not occurred as of the eighth scheduled Trading Day after the scheduled Calculation Day for
such Basket Component, that eighth scheduled Trading Day shall be deemed the Calculation Day. If the Calculation Day has been postponed eight scheduled Trading Days after the scheduled Calculation Day for such Basket Component and such eighth
scheduled Trading Day is not a Trading Day, or if a Market Disruption Event occurs or is continuing with respect to the Basket Component on such eighth scheduled Trading Day, the Calculation Agent will determine its good faith estimate of the
Closing Price of such Basket Component on such eighth scheduled Trading Day. Notwithstanding a postponement of a Calculation Day for a particular Basket Component due to a non-Trading Day or Market Disruption Event with respect to such Basket
Component, the originally scheduled Calculation Day will remain the Calculation Day for any Basket Component not affected by a non-Trading Day or Market Disruption Event. See “—Market Disruption Events.” 

“Calculation Agent Agreement” shall mean the Calculation Agent Agreement dated as of March 22, 2012 between the
Company and the Calculation Agent, as amended from time to time. 
 “Calculation Agent” shall mean the Person
that has entered into the Calculation Agent Agreement with the Company providing for, among other things, the determination of the Ending Price and the Redemption Amount, which term shall, unless the context otherwise requires, include its
successors under such Calculation Agent Agreement. The initial Calculation Agent shall be Wells Fargo Securities, LLC. Pursuant to the Calculation Agent Agreement, the Company may appoint a different Calculation Agent from time to time after the
initial issuance of this Security without the consent of the Holder of this Security and without notifying the Holder of this Security. 

Market Disruption Events 
 A “Market Disruption Event” means, with respect to a Basket Component, any of the following events as determined by the Calculation Agent in its sole discretion: 

 

	 	(A)	A material suspension or material limitation of trading or the unavailability of the Closing Price of the shares of such Basket Component or any Successor Fund (as
defined below under “Anti-dilution Adjustments Relating To A Basket Component; Alternate Calculation—Liquidation Events”) has been imposed by the Relevant Exchange on which such shares are traded, at any time during the one-hour
period preceding the Close of Trading on such day, whether by reason of movements in price exceeding limits permitted by such Relevant Exchange or otherwise. 

  
 5 

	 	(B)	A material suspension or material limitation of trading has occurred on that day, in each case during the one-hour period preceding the Close of Trading in options or
futures contracts related to such Basket Component or any Successor Fund on the Relevant Exchange on which those options or futures contracts are traded, whether by reason of movements in price exceeding levels permitted by the Relevant Exchange, or
otherwise. 

  

	 	(C)	Any event, other than an early closure, that materially disrupts or impairs the ability of market participants in general to effect transactions in, or obtain market
values for, the shares of such Basket Component or any Successor Fund at any time during the one-hour period that precedes the Close of Trading on that day. 

 

	 	(D)	Any event, other than an early closure, that materially disrupts or impairs the ability of market participants in general to effect transactions in, or obtain market
values for, the futures or options contracts relating to such Basket Component or any Successor Fund on the Relevant Exchange on which those futures or options contracts are traded, at any time during the one-hour period that precedes the Close of
Trading on that day. 

  

	 	(E)	The closure of the Relevant Exchange on which the shares of such Basket Component or any Successor Fund or the Relevant Exchange on which futures or options contracts
relating to such Basket Component or any Successor Fund are traded prior to its scheduled Close of Trading unless the earlier closing time is announced by such Relevant Exchange at least one hour prior to the earlier of (1) the actual closing
time for the regular trading session on such Relevant Exchange and (2) the submission deadline for orders to be entered into such Relevant Exchange for execution at the Close of Trading on that day. 

For purposes of determining whether a Market Disruption Event has occurred: 

 

	 	(1)	“Close of Trading” means in respect of any Relevant Exchange, the scheduled weekday closing time on a day on which such Relevant Exchange is scheduled
to be open for trading for its respective regular trading session, without regard to after hours or any other trading outside the regular trading session hours; and 

 

	 	(2)	“Relevant Exchange” for any share, option or option contract means the primary exchange or quotation system on which such share, option or option
contract is traded, as determined by the Calculation Agent. 

  
 6 

 Anti-dilution Adjustments Relating To A Basket Component; Alternate Calculation 

Anti-dilution Adjustments 
 The Calculation Agent, in its sole discretion, may adjust the Adjustment Factor as a result of certain events related to a Basket Component or any Successor Fund, as applicable, which occur during the
term of this Security. Such events include, but are not limited to, the following: 
 (A) Stock Splits and
Reverse Stock Splits  
 If a stock split or reverse stock split has occurred, then once such split has become effective,
the Adjustment Factor will be adjusted to equal the product of the prior Adjustment Factor and the number of securities which a holder of one share (or other applicable security) of such Basket Component before the effective date of such stock split
or reverse stock split would have owned or been entitled to receive immediately following the applicable effective date. 
 (B) Stock Dividends  
 If a (i) stock dividend (i.e., issuance of
additional shares (or other applicable security) by a Basket Component) that is given ratably to all holders of record of shares (or other applicable security) of a Basket Component or (ii) distribution of shares (or other applicable security)
of a Basket Component has occurred, then once the dividend has become effective and the shares (or other applicable security) of such Basket Component are trading ex-dividend, the Adjustment Factor will be adjusted on the ex-dividend date to equal
the prior Adjustment Factor plus the product of the prior Adjustment Factor and the number of shares (or other applicable security) of such Basket Component which a holder of one share (or other applicable security) of such Basket Component before
the date the dividend became effective and the shares (or other applicable security) of such Basket Component traded ex-dividend would have owned or been entitled to receive immediately following that date; provided, however, that no adjustment will
be made for a distribution for which the number of securities of such Basket Component paid or distributed is based on a fixed cash equivalent value, unless such distribution is an Extraordinary Dividend as defined and discussed below. 

(C) Extraordinary Dividends  
 If an Extraordinary Dividend (as defined below) has occurred, then on the ex-dividend date, the Adjustment Factor will be adjusted to equal the product of the prior Adjustment Factor and a fraction, the
numerator of which is the Closing Price per share (or other applicable security) of such Basket Component on the Trading Day preceding the ex-dividend date, and the denominator of which is the amount by which the Closing Price per share (or other
applicable security) of such Basket Component on the Trading Day preceding the ex-dividend date exceeds the Extraordinary Dividend Amount (as defined below). 

  
 7 

 For purposes of determining whether an Extraordinary Dividend has occurred: 

 

	 	(1)	“Extraordinary Dividend” means, with respect to a cash dividend or other distribution with respect to the shares (or other applicable security) of such
Basket Component, a dividend or other distribution which exceeds the immediately preceding non-Extraordinary Dividend on the securities of such Basket Component (as adjusted for any subsequent corporate event requiring an adjustment hereunder, such
as a stock split or reverse stock split) by an amount equal to at least 10% of the Closing Price of such Basket Component on the Trading Day preceding the ex-dividend date with respect to the Extraordinary Dividend (the “ex-dividend
date”); and 

  

	 	(2)	“Extraordinary Dividend Amount” with respect to an Extraordinary Dividend for the securities of such Basket Component will equal:

  

	 	•	 	 in the case of cash dividends or other distributions that constitute regular dividends, the amount per share (or other applicable security) of such
Basket Component of that Extraordinary Dividend minus the amount per share (or other applicable security) of the immediately preceding non-Extraordinary Dividend for that share (or other applicable security) of such Basket Component; or

  

	 	•	 	 in the case of cash dividends or other distributions that do not constitute regular dividends, the amount per share (or other applicable security) of
such Basket Component of that Extraordinary Dividend. 

 To the extent an Extraordinary Dividend is not paid in
cash, the value of the non-cash component will be determined by the Calculation Agent. A distribution on the securities of such Basket Component described below under the sections entitled “—Other Distributions” and
“—Reorganization Events” below that also constitute an Extraordinary Dividend will only cause an adjustment pursuant to those sections. 
 (D) Other Distributions  
 If a Basket Component declares or makes a
distribution to all holders of the shares (or other applicable security) of such Basket Component of any class of its capital stock, evidences of its indebtedness or other non-cash assets, including, but not limited to, transferable rights and
warrants, then, in each of these cases, the Adjustment Factor will equal the product of the prior Adjustment Factor and a fraction, the numerator of which will be the Closing Price per share (or other applicable security) of such Basket Component,
and the denominator of which will be the Closing Price per share (or other applicable security) of such Basket 

  
 8 

 
Component, less the fair market value, as determined by the Calculation Agent, as of the time the adjustment is effected of the portion of the capital shares, assets, evidences of indebtedness,
rights or warrants so distributed or issued applicable to one share (or other applicable security) of such Basket Component. 

(E) Reorganization Events  
 If a Basket Component, or any Successor Fund, is subject to a merger, combination, consolidation or statutory exchange of securities with another exchange traded fund, and such Basket Component is not the
surviving entity, then, on or after the date of such event, the Calculation Agent shall, in its sole discretion, make an adjustment to the Adjustment Factor or the method of determining the Redemption Amount or any other terms of this Security as
the Calculation Agent determines appropriate to account for the economic effect on this Security of such event (including adjustments to account for changes in volatility, expected dividends, stock loan rate or liquidity relevant to this Security),
and determine the effective date of that adjustment. If the Calculation Agent determines that no adjustment that it could make will produce a commercially reasonable result, then the Calculation Agent may deem such event a Liquidation Event (as
defined below). 
 Liquidation Events 
 If a Basket Component is de-listed, liquidated or otherwise terminated (a “Liquidation Event”), and a successor or substitute exchange traded fund exists that the Calculation Agent
determines, in its sole discretion, to be comparable to such Basket Component, then, upon the Calculation Agent’s notification of that determination to the Trustee and the Company, any subsequent Fund Closing Price for such Basket Component
will be determined by reference to the Fund Closing Price of such successor or substitute exchange traded fund (such exchange traded fund being referred to herein as a “Successor Fund”). 

Upon any selection by the Calculation Agent of a Successor Fund, the Company will cause notice to be given to Holder of this Security.

 If a Basket Component undergoes a Liquidation Event prior to, and such Liquidation Event is continuing on, the date that the
Fund Closing Price of such Basket Component is to be determined and the Calculation Agent determines that no Successor Fund is available at such time, then the Calculation Agent will, in its discretion, calculate the Fund Closing Price for such
Basket Component on such date by a computation methodology that the Calculation Agent determines will as closely as reasonably possible replicate such Basket Component. 
 If a Successor Fund is selected or the Calculation Agent calculates the Fund Closing Price as a substitute for a Basket Component, such Successor Fund or Fund Closing Price will be used as a substitute
for such Basket Component for all purposes, including for purposes of determining whether a Market Disruption Event exists. 

  
 9 

 If at any time the method of calculating a Basket Component or a Successor Fund, or the
related Underlying Index, is changed in a material respect, or if a Basket Component or a Successor Fund is in any other way modified so that such Basket Component does not, in the opinion of the Calculation Agent, fairly represent the price of the
securities of such Basket Component or such Successor Fund had such changes or modifications not been made, then the Calculation Agent will, at the close of business in New York City on the date that the Fund Closing Price is to be determined, make
such calculations and adjustments as, in the good faith judgment of the Calculation Agent, may be necessary in order to arrive at a Closing Price of an exchange traded fund comparable to such Basket Component or Successor Fund, as the case may be,
as if such changes or modifications had not been made, and calculate the Fund Closing Price and the Redemption Amount with reference to such adjusted Closing Price of such Basket Component or such Successor Fund, as applicable. 

Calculation Agent 

The Calculation Agent will determine the Redemption Amount and the Ending Price. In addition, the Calculation Agent will
(i) determine if adjustments are required to the Fund Closing Price and/or the Adjustment Factor of a Basket Component under the circumstances described in this Security, (ii) if a Basket Component undergoes a Liquidation Event, select a
Successor Fund or, if no Successor Fund is available, determine the Fund Closing Price of such Basket Component, and (iii) determine whether a Market Disruption Event has occurred. 

The Company covenants that, so long as this Security is Outstanding, there shall at all times be a Calculation Agent (which shall be a
broker-dealer, bank or other financial institution) with respect to this Security. 
 All determinations made by the Calculation
Agent with respect to this Security will be at the sole discretion of the Calculation Agent and, in the absence of manifest error, will be conclusive for all purposes and binding on the Company and the Holder of this Security. All percentages and
other amounts resulting from any calculation with respect to this Security will be rounded at the Calculation Agent’s discretion. 

Tax Considerations 

The Company agrees, and by acceptance of a beneficial ownership interest in this Security each beneficial owner of this Security will be
deemed to have agreed (in the absence of a statutory, regulatory, administrative or judicial ruling to the contrary), for United States federal income tax purposes to characterize and treat this Security as a pre-paid coupon-bearing derivative
contract in respect of the Basket. 
 Redemption and Repayment 

This Security is not subject to redemption at the option of the Company or repayment at the option of the Holder hereof prior to
September 22, 2015. This Security is not entitled to any sinking fund. 

  
 10 

 Acceleration 
 If an Event of Default, as defined in the Indenture, with respect to this Security shall occur and be continuing, the Redemption Amount (calculated as set forth in the next sentence) of this Security may
be declared due and payable in the manner and with the effect provided in the Indenture. The amount payable to the Holder hereof upon any acceleration permitted under the Indenture will be equal to the Redemption Amount hereof calculated as provided
herein as though the date of acceleration was the Calculation Day; provided, however, if such date is not a Trading Day or if a Market Disruption Event has occurred or is continuing on that day, the Calculation Day will be postponed as provided
herein. 
  
  

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by the Trustee referred to on the reverse hereof by manual signature or its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 
 [The remainder of this page has been left intentionally blank]

  
 11 

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

 

					
	WELLS FARGO & COMPANY
		
	By:	 	 
		 	 
		 	Its:	 	 

 [SEAL] 
  

					
		
	Attest:	 	 
		 	 
		 	Its:	 	 

 TRUSTEE’S CERTIFICATE OF 
 AUTHENTICATION 
 This is one of the Securities of the 

series designated therein described 
 in the
within-mentioned Indenture. 
  

			
	 CITIBANK, N.A.,

        as Trustee

		
	By:	 	 
		 	Authorized Signature

 OR 
  

			
	 WELLS FARGO BANK, N.A.,
         as Authenticating Agent for the Trustee

		
	By:	 	 
		 	Authorized Signature

  
 12 

 [Reverse of Note] 
 WELLS FARGO & COMPANY 
 MEDIUM-TERM NOTE, SERIES K

 Due Nine Months or More From Date of Issue 
 Notes Linked to a Global ETF Basket 
 due September 22, 2015

 This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999, as amended or supplemented from time to time (herein called the “Indenture”), between the Company and
Citibank, N.A., as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is
one of the series of the Securities designated as Medium-Term Notes, Series K, of the Company, which series is limited to an aggregate principal amount or face amount, as applicable, of $25,000,000,000 or the equivalent thereof in one or more
foreign or composite currencies. The amount payable on the Securities of this series may be determined by reference to the performance of one or more equity-, commodity- or currency-based indices, exchange traded funds, securities, commodities,
currencies, statistical measures of economic or financial performance, or a basket comprised of two or more of the foregoing, or any other market measure or may bear interest at a fixed rate or a floating rate. The Securities of this series may
mature at different times, be redeemable at different times or not at all, be repayable at the option of the Holder at different times or not at all and be denominated in different currencies. 

Article Sixteen of the Indenture shall not apply to this Security. 

The Securities are issuable only in registered form without coupons and will be either (a) book-entry securities represented by one
or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated securities issued to and registered in the names of, the beneficial owners or their nominees. 

The Company agrees, to the extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of
interest against a Holder of this Security. 
 Modification and Waivers 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities at the 

  
 13 

 
time Outstanding of all series to be affected, acting together as a class. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of all
series at the time Outstanding affected by certain provisions of the Indenture, acting together as a class, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain
past defaults under the Indenture and their consequences may be waived under the Indenture by the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such
series. Solely for the purpose of determining whether any consent, waiver, notice or other action or Act to be taken or given by the Holders of Securities pursuant to the Indenture has been given or taken by the Holders of Outstanding Securities in
the requisite aggregate principal amount, the principal amount of this Security will be deemed to be equal to the amount set forth on the face hereof as the “Face Amount” hereof. Any such consent or waiver by the Holder of this Security
shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Security. 
 Defeasance 
 Section 403 and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the Indenture, relating to defeasance at any time of (a) the entire
indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth therein, shall not apply to this Security. The remaining provisions of
Section 401 of the Indenture shall apply to this Security. 
 Authorized Denominations 

This Security is issuable only in registered form without coupons in denominations of $1,000 or any amount in excess thereof which is an
integral multiple of $1,000. 
 Registration of Transfer 
 Upon due presentment for registration of transfer of this Security at the office or agency of the Company in the City of Minneapolis, Minnesota, a new Security or Securities of this series, with the same
terms as this Security, in authorized denominations for an equal aggregate Face Amount will be issued to the transferee in exchange herefor, as provided in the Indenture and subject to the limitations provided therein and to the limitations
described below, without charge except for any tax or other governmental charge imposed in connection therewith. 
 This
Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a
clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in
its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form and notifies the Trustee thereof or (z) an Event of Default with respect to the Securities represented hereby has occurred and
is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for definitive Securities in registered form, bearing interest at the same rate, having the same date of issuance, Stated Maturity Date and
other terms and of authorized denominations aggregating a like amount. 

  
 14 

 This Security may not be transferred except as a whole by the Depositary to a nominee of the
Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor of the Depositary or a nominee of such successor. Except as provided above, owners of
beneficial interests in this Global Security will not be entitled to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under the Indenture. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 Obligation of the Company Absolute 
 No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the interest on
this Security and the Redemption Amount at the times, place and rate, and in the coin or currency, herein prescribed, except as otherwise provided in this Security. 
 No Personal Recourse 
 No recourse shall be had for the payment of
interest on this Security or the Redemption Amount, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or
director, as such, past, present or future, of the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the
acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released. 
 Defined Terms

 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the
Indenture unless otherwise defined in this Security. 
 Governing Law 

This Security shall be governed by and construed in accordance with the law of the State of New York, without regard to principles of
conflicts of laws. 

  
 15 

 ABBREVIATIONS 

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

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

  

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

 Under Uniform Gifts to Minors Act 
  

 
 (State)

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

FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 
 Please Insert Social Security or 
 Other Identifying Number of Assignee 

 
  

 
  
  

 
  

 
 (PLEASE
PRINT OR TYPE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE)

  
 16 

 the within Security of WELLS FARGO & COMPANY and does hereby irrevocably constitute and appoint
            attorney to transfer the said Security on the books of the Company, with full power of substitution in the premises. 

 

							
	Dated:                    	 		 	
				
		 		 		 	 
		 		 		 	
		 		 		 	 

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument
in every particular, without alteration or enlargement or any change whatever. 

  
 17

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