Document:

Exhibit 10.1

 

SEPARATION AGREEMENT AND GENERAL
RELEASE (“AGREEMENT”)

In return for the
mutual promises in this Agreement, FalconStor Software, Inc. (the “Company”), 2 Huntington Quadrangle, Melville, NY
11747, its predecessor companies, and its and their respective stockholders, affiliates, subsidiaries, divisions, successors and
assigns and the current and former employees, officers, directors and agents thereof (collectively referred to throughout this
Agreement as “Employer”), and Louis Petrucelly, his heirs, executors, administrators, successors, and assigns (collectively
referred to throughout this Agreement as “You”), agree as follows:

1.          Purpose. This is a Separation Agreement between Company and You and a General Release of claims against Employer,
by You.

2.          Time to Return and Legal Review. You understand and agree that You have until September 20, 2016 to sign and return
this Agreement. You are advised to consult with an attorney, at your own expense, before signing. By signing, You acknowledge that
Company has advised You to consult with an attorney before signing, at your own expense, and that You have had enough time to do
so. You further understand that if You do not sign and return this Agreement by September 20, 2016, Company shall have no obligation
to make any payments or provide any benefits to You under this Agreement.

3.          Revocation. You may revoke (cancel) this Agreement for a period of seven (7) calendar days after the day You sign
this Agreement. Any revocation within this period must be submitted, in writing, to Jason Pitre, Company’s Director of Human
Resources, and state, “I hereby revoke my acceptance of our Agreement.” The revocation must be personally delivered
to Jason Pitre or a person he designates, or mailed to Jason Pitre and received within seven (7) calendar days of your signing
of this Agreement and General Release. This Agreement shall not become effective or enforceable until the revocation period has
expired without revocation by You. If the last day of the revocation period is a Saturday, Sunday, or legal holiday in New York,
then the revocation period shall not expire until the next following day which is not a Saturday, Sunday, or legal holiday.

4.          Resignation. Effective September 15, 2016, You voluntarily resign from all positions, whether as an employee, as
an officer, or as a director, at the Company and any of its direct and indirect subsidiaries effective on the date you sign and
return this Agreement. Both You and the Company agree that in response to inquiries regarding your departure from the Company both
You and the Employer will state that You voluntarily resigned to pursue other opportunities and that You will continue to serve
as a consultant to the Company.

5.          Duty of Confidentiality. You expressly agree and confirm that You will comply with all of the terms and provisions
of the Confidentiality, Proprietary Information and Invention Agreement between You and the Company (the “Confidentiality
Agreement”). A copy will be provided to You upon request.

6.          Return
of Company Property; Expenses. You represent and warrant that, You have returned to Company all property belonging to Company,
including but not limited to keycard, master and office keys, computer equipment, files, records, computer access codes, cell
phones, beepers, personal digital assistants (such as BlackBerry or iPhone), memoranda, letters, files, computer software, business
plans, instruction manuals and any other property whether furnished to You by the Company or which You have prepared or helped
to prepare in conjunction with Your employment with Company. You further agree to return to Company any such property You find
in Your possession after the date You sign and deliver this Agreement to Company. You will submit a final expense report by September
15, 2016.

     

     

    

 

7.           Nondisparagement
and References. You understand and agree that You will not disparage Company or any other “Released Party” (as
defined in Paragraph 13) or encourage or induce others to disparage Company or any other Released Party. If the Company receives
an inquiry regarding You from a prospective employer, the Employer agrees to confirm the positions You held, the dates You were
employed by the Company, and that You resigned to pursue other opportunities and that You continue to serve as a consultant to
the Company. Nothing in this Agreement shall be construed to prevent You, the Company or any Released Party from providing truthful
and accurate testimony in any civil, criminal or regulatory proceeding. Subject to your obligations under the Confidentiality
Agreement, nothing in this Agreement shall be construed to prevent You from providing factual information to a prospective employer
that you resigned to pursue other opportunities.

8.           Consideration.

		a.	In consideration for (i) Your signing and returning this Agreement, (ii) Your meeting with the
Company’s President and Chief Executive Officer at a mutually agreeable time within seven (7) days of the signing of this
Agreement to provide the Company , to the best of your recollection, with a summary of matters that you have been primarily responsible
for or have been involved with, and (iii) Your performance of the obligations under this Agreement, the Company agrees to pay You
the consulting fee set forth in Section 9 hereof and unused vacation time of $5,288.46 (minus applicable withholdings and deductions).
This vacation time will be paid to You in a lump sum within fifteen (15) days following the effective date of this Agreement. All
restricted stock granted to you that has not vested, shall not vest and shall terminate on the date you sign and return this Agreement.
All stock options previously granted to You will be governed by the terms of any option agreement between You and the Company and
the Company’s Amended and Restated 2006 Incentive Stock Plan.

		b.	In consideration for (i) Your signing and returning this Agreement, (ii) Your meeting with the
Company’s President and Chief Executive Officer at a mutually agreeable time within seven (7) days of the signing of this
Agreement to provide the Company, to the best of your recollection, with a summary of matters that you have been primarily responsible
for or have been involved with, including but not limited to customer agreements, insurance policies, corporate record keeping,
and in-progress work product that needs to be finalized, and (iii) Your performance of the obligations under this Agreement, the
Company shall reimburse You for the employer’s portion of the premium associated with COBRA coverage until the earlier of
(i) December 31, 2016 or (ii) the first date on which You become eligible for coverage under another group health insurance plan,
provided You timely elect and are eligible for COBRA coverage. Reimbursement shall be made on a month by month basis within three
(3) days of the due date for Your payment.

    	2

     

    

 

9.          Consulting
Services. You agree to continue and make yourself reasonably available to assist the Company with the transition and
activities and responsibilities of the position by providing consulting services to the Company at the Company’s
reasonable request commencing September 16, 2016 until December 31, 2016 (the “Consulting Period”) . In exchange
for the provision of such consulting services, the Company shall pay to You a monthly consulting fee of $10,000
which will be prorated for September 2016. The Company will pay You for consulting services and will reimburse You for
previously approved expenses within thirty (30) days of receipt of Your invoice, provided You have furnished such
documentation for expenses as the Company reasonably requested. Consulting services shall be provided at times reasonably
convenient to You. Consulting services not used by the Company in any month shall not be rolled forward to any other month.
The consulting services shall consist of the provision of factual information by You to the Company. Your relationship with
the Company pursuant to this paragraph will be that of an independent contractor and nothing in this Agreement should be
construed to create a partnership, joint venture, or employer-employee relationship. As a consultant, You shall not be
entitled to receive any employment benefits offered to employees of the Company. You are not the employee, agent or
co-venturer of the Company and You are not authorized to make any representation, contract, or commitment on behalf of the
Company unless specifically requested or authorized in writing to do so by Company. You will be solely responsible for and
will file, on a timely basis, all tax returns and payments required to be filed with or made to any federal, state or local
authority with respect to Your performance of services and receipt of fees under this Agreement.

10.        Disclosure of this Agreement. You acknowledge that You understand that the Company is required to file this Agreement
with the SEC. That filing shall be in the form of the Form 8-K which shall state that You resigned to pursue other opportunities
and that You continue to serve as a consultant to the Company.

11.        Nonadmission. You and Company each understand and agree that neither the signing of this Agreement nor the payment
of any money or benefits constitutes an admission by Company, or any other Released Party of any wrongdoing. Company and each other
Released Party expressly denies any liability or violation of law.

12.        Non-Competition. As further consideration for the benefits described in Paragraphs 8 and 9, You agree that You shall
not, at any time during the Consulting Period, provide any work, labor, services, or assistance (on a compensated or uncompensated
basis) to any person or entity that provides, or is planning to provide, any goods or services that compete in any way with any
of the goods and/or services currently provided (or planned to be provided) by the Company (a “Competitor”). Notwithstanding
the foregoing, the parties agree that You may elect to provide work, labor, services, or assistance to a Competitor during the
Consulting Period and in that event, the Company’s sole remedy shall be to cease making the consulting payments described
in Paragraph 9.

    	3

     

    

 

GENERAL RELEASE OF ALL CLAIMS

13.        Release of Company and other Released Parties. In consideration of (in return for) the benefits from Company as outlined
in Paragraphs 8 and 9, You hereby irrevocably and unconditionally release, waive and forever discharge Company, its affiliates,
parents, successors, predecessors, subsidiaries, assigns, stockholders, directors, officers, employees, representatives, agents,
and attorneys (collectively, the “Released Parties”), from any and all claims, agreements, causes of action, demands,
or liabilities of any nature whatsoever, including under the Company’s Amended and
Restated 2005 Key Executive Severance Protection Plan or the Company’s Management Incentive Plan for fiscal 2016 or
any quarterly period in fiscal 2016 (collectively referred to as “Claims”) arising, occurring or existing at any time
prior to the signing of this Agreement or arising out of any facts or circumstances that occurred or existed at any time prior
to the signing of this Agreement, whether known or unknown, except as to all claims that cannot be released under applicable law
(including Claims of discrimination arising under federal law filed with or through a federal agency) or Claims related to the
validity of this Agreement.

Examples of Claims
Released. You understand that this release is intended to and does waive:

		a.	Your ability to file a lawsuit against the Company for any and all Claims arising from or relating
to Your employment with Company and/or the termination of Your employment with Company. This includes, but is not limited to, any
and all claims for breach of Company’s or its predecessor’s policies, rules, regulations, or handbooks or for breach
of expressed or implied contracts or expressed or implied covenants of good faith, and any and all claims for promissory estoppel,
wrongful discharge, defamation, invasion of privacy, violation of public policy, retaliation, mental distress or any other personal
injury; any and all claims for back pay, front pay, or for any kind of compensatory, special or consequential damages, punitive
or liquidated damages, attorneys’ fees, costs, disbursements or expenses of any kind whatsoever.

		b.	Any and all claims arising under the Family Medical Leave Act, as amended, that were available
on or prior to the date You sign this Agreement, whether known or unknown.

		c.	Any and all claims arising under the Age Discrimination in Employment Act, as amended, that were
available on or prior to the date You sign this Agreement, whether known or unknown.

		d.	Any and all other claims of any kind whatsoever that You had or may have against Company or any
other Released Party at the time You sign this Release, whether known or unknown. This includes, but is not limited to, any and
all rights or claims of any kind that You may have against Company or any other Released Party arising, existing or occurring (or
that arise out of any facts or circumstances that occurred or existed) before You became an employee and/or during any period of
time You acted as a consultant to Company.

    	4

     

    
  

		e.	Any and all claims for payment for vacation pay.

This provides examples
of the Claims that are waived and is not a complete listing of waived claims.

Notwithstanding
the foregoing, nothing in this Agreement shall be construed to prevent You from being indemnified as an officer of the Company
pursuant to the Company’s Amended and Restated By-Laws or the General Corporation Law of the State of Delaware or from filing
a charge with or participating in an investigation conducted by any governmental agency, including, without limitation, the United
States Equal Employment Opportunity Commission (“EEOC”) or applicable state or city fair employment practices agency,
to the extent required or permitted by law. Nevertheless, You understand and agree that You are waiving any relief available (including,
for example, monetary damages or reinstatement), under any of the claims and/or causes of action waived in this Paragraph 13, including
but not limited to financial benefit or monetary recovery from any lawsuit filed or settlement reached by the EEOC or anyone else
with respect to any claims released and waived in this agreement.

14.       
No Claims Exist. You confirm that You have not filed, caused to be filed, or are a party to, any claim, charge, complaint,
or action against any Released Party in any court. In the event that any such claim, charge, complaint, or action is filed in
any court and You obtain a judgment, it is the intent of You and Company parties that all payments made to You under this Agreement
shall be offset against (the amount will be deducted from) any judgment You obtain.  You further confirm that You have no known
workplace injuries. In addition, You agree that it is the Company’s policy to comply with all applicable laws and regulations,
including its own policies. You are not aware of any violations of any such applicable laws or Company policies by the Company
or anyone associated with the Company.

You agree that you
shall not, at any time in the future, encourage any current or former Company employee, or any other person or entity, to file
any legal or administrative claim of any type or nature against the Company or any of its directors, officers, or employees. You
further agree that you shall not, at any time in the future, assist in any manner any current or former Company employee, or any
other person or entity, in the pursuit or prosecution of any legal or administrative claim of any type or nature against the Company
or any of its officers or employees, unless pursuant to a duly-issued subpoena or other compulsory legal process.

15.       
No Claims Exist. The Company confirms that it has not filed, caused to be filed, or are a party to, any claim, charge,
complaint, or action against You in any court.

16.       
COBRA Rights. Your regular coverage under Company’s medical and dental plans ends on September 30, 2016. You
become eligible to receive health care continuation coverage under the respective plans under COBRA and under applicable laws the
day after the regular coverage under the respective plans ends. If You timely elect health care continuation coverage under COBRA
in accordance with Section 4980B of the Code, You shall be entitled to receive COBRA continuation coverage for eighteen (18) months
at Your own expense, other than as set forth in Paragraph 8, and in accordance with the provisions of COBRA, which provisions
are more fully explained in the COBRA information provided to You by the Company. However, You will no longer be eligible for any
continuation coverage under COBRA if Your eligibility for continuation coverage ceases pursuant to the provisions of COBRA.

    	5

     

    

17.       
No Entitlement to Severance. You acknowledge that the compensation You are receiving is being received solely in
exchange for Your promises in this Agreement. You understand that severance pay is not ordinarily available under Company’s
policy to employees whose employment relationship ends. You further acknowledge that You have been paid all wages and provided
all benefits (including, but not limited to, base salary, bonuses, and paid time off/vacation).

18.       
Cooperation. You shall assist in the orderly transition of all current projects and assignments. You will sign (and,
as necessary, at the Company’s expense, have notarized) all documents as reasonably requested by the Company, including all
documents relating to resignation from executive or director positions with the Company’s subsidiaries.

You shall cooperate
fully with Company and with Company’s counsel in connection with any present or future, actual or threatened, litigation
or administrative proceeding involving Company or any predecessor of Company that relates to events, occurrences or conduct occurring
(or claimed to have occurred) during the period of Your employment by Company or any predecessor to Company. This cooperation by
You shall include, but not be limited to (i) being reasonably available for interviews and discussions with Company’s
counsel as well as for depositions and trial testimony; (ii) if depositions or trial testimony are to occur, being reasonably available
and cooperating in the preparation therefore as and to the extent that Company’s or other party’s counsel reasonably
requests; (iii) refraining from impeding in any way Company’s prosecution or defense of such litigation or administrative
proceeding; and (iv) cooperating fully in the development and presentation of prosecution or defense of such litigation or
administrative proceeding.

You will be reimbursed
by Company for reasonable travel, lodging, telephone and similar expenses incurred in connection with such cooperation.

19.       
Governing Law. This Agreement shall be governed by the laws of the State of New York except to the extent preempted
by Federal law.

20.       
Venue. Both You and the Company hereby irrevocably waive any objection that they now or hereafter may have to the
laying of venue of any action or proceeding arising out of or relating to this Agreement brought in the United States District
Court for the Eastern District of New York, or any New York state court, and any objection on the ground that any such action or
proceeding in either of such Courts has been brought in an inconvenient forum. This means that if Company sues you for violating
this Agreement, Company may do so in a state or federal court located in New York, including Suffolk County.

21.       
Waiver of Jury Trial. TO THE EXTENT PERMITTED BY APPLICABLE LAW, YOU AND THE COMPANY IRREVOCABLY WAIVE YOUR RESPECTIVE
RIGHTS TO A JURY TRIAL WITH RESPECT TO ANY ACTION, CLAIM OR OTHER PROCEEDING ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS
AGREEMENT, ANY RIGHTS OR OBLIGATIONS HEREUNDER, OR THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS. This means that only a judge,
not a jury, will decide any lawsuit.

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22.       
Amendment. This Agreement may not be modified, altered or changed except upon express written consent of both parties
in a document that specifically refers to this Agreement.

23.       
Severability. Each provision of this Agreement is severable from the entire Agreement. In the event that any provision
is declared invalid or unenforceable, that provision shall be amended if possible to be enforceable, but in any event, the remaining
provisions of this Agreement shall remain in effect.

24.      
Entire Agreement. You and the Company agree that: (a) this Agreement contains the entire agreement between the Released
Parties, the Company and You; and (b) that neither Company, any other Released Party, nor You has made any other representations
except those set forth in this Agreement to induce the other parties to agree to this Agreement.

YOU ACKNOWLEDGE
THAT YOU HAVE READ THIS AGREEMENT, THAT YOU HAVE BEEN GIVEN AN OPPORTUNITY TO HAVE ANY PARAGRAPHS EXPLAINED, AND THAT YOU UNDERSTAND
EACH PARAGRAPH OF THE AGREEMENT.

YOU HAVE BEEN ADVISED
THAT YOU HAVE TWENTY-ONE (21) CALENDAR DAYS TO CONSIDER THIS AGREEMENT AND YOU HAVE BEEN ADVISED IN WRITING TO CONSULT WITH AN
ATTORNEY BEFORE SIGNING THIS AGREEMENT.

YOU AGREE THAT ANY
MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS AGREEMENT DO NOT RESTART OR AFFECT IN ANY MANNER THE ORIGINAL TWENTY-ONE (21)
CALENDAR DAY CONSIDERATION PERIOD.

HAVING ELECTED TO
SIGN THIS AGREEMENT, TO FULFILL THE PROMISES SET FORTH IN THIS AGREEMENT, AND TO RECEIVE THE AMOUNTS SET FORTH IN PARAGRAPH “8”
ABOVE, YOU FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTER INTO THIS AGREEMENT INTENDING TO WAIVE, SETTLE AND RELEASE
ALL CLAIMS YOU HAVE OR MIGHT HAVE AS OF THE DATE OF SIGNING AGAINST THE COMPANY OTHER THAN SET FORTH IN PARAGRAPH 13 ABOVE.

IN WITNESS WHEREOF,
the parties hereto knowingly and voluntarily executed this Agreement as of the date set forth below:

	 	NAME	 	 	FalconStor Software, Inc.
	By:	
        /s/ Louis Petrucelly
	 	By:	
        /s/ Gary Quinn

	 	Louis Petrucelly	 	 	Gary Quinn

President and Chief Executive Officer
	Date:	
        August 30, 2016
	 	Date:	
        August 30, 2016

 

    	7Form of Medium-Term Notes, Series K, Notes Linked to 3 Month LIBOR

 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. 94986RU33 
	
PRINCIPAL AMOUNT: $                   
          

 REGISTERED NO.      

WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES K 

Due Nine Months or More From Date of Issue 

Notes Linked to 3 Month LIBOR due August 30, 2023 

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, the principal sum of
                                         
            DOLLARS ($            ) on August 30, 2023 (the “Stated Maturity Date”) and to pay
interest thereon from August 30, 2016 or from the most recent Interest Payment Date to which interest has been paid or duly provided for quarterly on the last calendar day of each February and each May 30, August 30 and
November 30, commencing November 30, 2016, and at Maturity (each, an “Interest Payment Date”), at the rate per annum specified below until the principal hereof is paid or made available for payment. The interest so
payable, 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. The Regular Record Date for an Interest Payment Date shall be one 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. “Business
Day” shall mean a day, other than a Saturday or Sunday, (i) 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 and (ii) that is
also a London Banking Day (as defined below). 

 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 August 30, 2016 and end on and include November 29, 2016. Interest on this Security will be computed on the basis of a 360-day year of twelve 30-day months. 
 The
interest rate on this Security that will apply during the first eight Interest Periods (up to and including the Interest Period ending August 29, 2018) will be equal to 2.00% per annum. For all Interest Periods commencing on or after
August 30, 2018, the interest rate on this Security will be determined by the calculation agent for this Security (the “Calculation Agent”) and will be equal to 3 month LIBOR on the Interest Determination Date for such Interest
Period plus 1.00%, but in no event will such rate be more than the Maximum Interest Rate. 
 The “Interest
Determination Date” for an Interest Period commencing on or after August 30, 2018 will be two London Banking Days prior to the first day of such Interest Period. A “London Banking Day” is any day on which commercial
banks and foreign exchange markets settle payments in London. 
 “3 month LIBOR” means, for any Interest
Determination Date, the arithmetic mean of the offered rates for deposits in U.S. dollars having a 3 month maturity, commencing on the second London Banking Day immediately following that Interest Determination Date that appear on the
Designated LIBOR Page as of 11:00 a.m., London time, on that Interest Determination Date, if at least two offered rates appear on the Designated LIBOR Page, provided that if the Designated LIBOR Page by its terms provides only for a single
rate, that single rate will be used. The “Designated LIBOR Page” means the display on Reuters, or any successor service, on page LIBOR01, or any other page as may replace that page on that service, for the purpose of displaying the
London Interbank rates for U.S. dollars. 
 If (i) fewer than two offered rates appear or (ii) no rate appears and
the Designated LIBOR Page by its terms provides only for a single rate, then the Calculation Agent will request the principal London offices of each of four major banks in the London Interbank market, as selected by the Calculation Agent, to provide
the Calculation Agent with its offered quotation for deposits in U.S. dollars for a 3 month period commencing on the second London Banking Day immediately following that Interest Determination Date to prime banks in the London Interbank market at
approximately 11:00 a.m., London time, on that Interest Determination Date and in a principal amount that is representative of a single transaction in U.S. dollars in that market at that time. If at least two quotations are provided, 3 month
LIBOR determined on that Interest Determination Date will be the arithmetic mean of those quotations. 
 If fewer than two
quotations are provided, 3 month LIBOR will be the arithmetic mean of the rates quoted at approximately 11:00 a.m. in New York, New York on that Interest Determination Date by three major banks in New York, New York selected by the Calculation
Agent for loans in U.S. dollars to leading European banks, having a 3 month maturity and in a principal amount that is representative of a single transaction in U.S. dollars in that market at that time. 

  
 2 

 If the banks so selected by the Calculation Agent are not quoting as set forth
above, 3 month LIBOR for that Interest Determination Date will remain 3 Month LIBOR for the immediately preceding Interest Period or, if none, the interest rate will be 2.00% per annum. 

The “Maximum Interest Rate” applicable to an Interest Period commencing on or after August 30, 2018 is
5.00% per annum. 
 The Calculation Agent shall, upon the request of a Holder of this Security, provide the interest
rate then in effect and, if determined, the interest rate that will become effective for the next Interest Period. All calculations of the Calculation Agent, in the absence of manifest error, shall be conclusive for all purposes and binding on the
Company and the Holder hereof. The Calculation Agent shall notify the Paying Agent of each determination of the interest applicable to this Security promptly after the determination is made. Wells Fargo Securities, LLC will initially act as
Calculation Agent. The Company may appoint a successor Calculation Agent with the written consent of the Trustee. 
 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 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; 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. Payment of principal of and interest on this Security at Maturity 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.
Notwithstanding the foregoing, for so long as this Security is a Global Security registered in the name of the Depositary, payments of principal and interest on this Security will be made to the Depositary by wire transfer of immediately available
funds. 
 This Security is not subject to redemption at the option of the Company or repayment at the option of the Holder
hereof prior to August 30, 2023. This Security is not entitled to any sinking fund. 
  

 

  
 3 

 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] 

  
 4 

 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

  
 5 

 [Reverse of Note] 

WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES K 

Due Nine Months or More From Date of Issue 

Notes Linked to 3 Month LIBOR due August 30, 2023 

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 time Outstanding of all series to be affected, acting together as a class. The Indenture also contains 

  
 6 

 
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. 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 principal 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. 

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 

  
 7 

 
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 principal of and interest on this Security 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 the principal of or the interest on this Security, 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. 

  
 8 

 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)

  
 9 

 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. 

  
 10

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