Document:

WELLS FARGO & COMPANY 8-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. 95001HBK6	FACE AMOUNT: $_______________

REGISTERED
NO. __

 

 

WELLS
FARGO FINANCE LLC

 

MEDIUM-TERM
NOTE, SERIES A

Fully
and Unconditionally Guaranteed by Wells Fargo & Company

 

Principal
at Risk Securities Linked to the Lowest Performing of the Russell 2000® Index, the S&P 500®
Index and the EURO STOXX 50® Index due October 19, 2029

 

WELLS
FARGO FINANCE LLC, a limited liability company duly organized and existing under the laws of the State of Delaware (hereinafter
called the “Company,” which term includes any successor corporation under and as defined in the Indenture hereinafter
referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, an amount equal to the
Maturity Payment Amount (as defined below) on the Stated Maturity Date (as defined below), unless this Security is redeemed prior
to the Stated Maturity Date as provided below under “Optional Redemption,” and to pay Contingent Coupon Payments (as
defined below) on the Face Amount of this Security to the extent provided herein on the Contingent Coupon Payment Dates specified
herein at the Contingent Coupon Rate (as defined below) until the earlier of the Stated Maturity Date and the Optional Redemption
Date (as defined below), if any. The “Initial Stated Maturity Date” shall be October 19, 2029. If the
Final Calculation Day (as defined below) is not postponed, the Initial Stated Maturity Date will be the “Stated Maturity
Date.” If the Final Calculation Day is postponed, the “Stated Maturity Date” shall be the later of
(i) the Initial Stated Maturity Date and (ii) three Business Days (as defined below) after the last Final Calculation
Day as postponed.

“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.”

Optional
Redemption

The
Company may, at its option, redeem this Security, in whole but not in part, on any Optional Redemption Date (as defined below)
by giving notice to the Holder hereof on or before the Calculation Day (as defined below) immediately preceding that Optional
Redemption Date. If this

    	 	 	 

    	 

    

Security
is redeemed, the Holder hereof will receive the Optional Redemption Price (as defined below) plus a final Contingent Coupon Payment
(as defined below), if any, on the applicable Optional Redemption Date. Unless the Company defaults in the payment of the Optional
Redemption Price plus the final Contingent Coupon Payment, if any, this Security will cease to be outstanding on such Optional
Redemption Date, no additional Contingent Coupon Payments will be payable on this Security and the Holder hereof will have no
further rights under this Security after such Optional Redemption Date. The “Optional Redemption Price” is
equal to the Face Amount of this Security. The “Optional Redemption Dates” shall be the Contingent Coupon Payment
Dates (as defined below) following each Calculation Day scheduled to occur from October 2020 to July 2029, inclusive.

Payment
of Contingent Coupon Payments, the Maturity Payment Amount and the Optional Redemption Price

On
each quarterly Contingent Coupon Payment Date, the Company shall pay a Contingent Coupon Payment if, and only if, the Closing
Level (as defined below) of the Lowest Performing Index (as defined below) on the related Calculation Day is greater than or equal
to its Coupon Threshold Level (as defined below). A “Contingent Coupon Payment,” if payable as provided herein,
shall be equal to (i) the product of the Face Amount of this Security and the Contingent Coupon Rate, (ii) divided by
4. The “Contingent Coupon Payment Dates” shall be the third Business Day following each Calculation Day, as
each such Calculation Day may be postponed as herein provided, provided that the Contingent Coupon Payment Date with respect to
the Final Calculation Day will be the Stated Maturity Date. If a Calculation Day is postponed with respect to one or more Indices,
the related Contingent Coupon Payment Date will be three Business Days after the last Calculation Day as postponed. The “Contingent
Coupon Rate” is 9.05% per annum. Any Contingent Coupon Payments will be rounded to the nearest cent, with one-half cent
rounded upward. If a Contingent Coupon Payment Date is postponed, the Contingent Coupon Payment, if any, due on that Contingent
Coupon Payment Date will be made on that Contingent Coupon Payment Date as so postponed with the same force and effect as if it
had been made on the originally scheduled Contingent Coupon Payment Date, with no additional amount accruing or payable as a result
of the postponement.

Any
Contingent Coupon Payment so payable, and punctually paid or duly provided for, on any Contingent Coupon 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 Contingent Coupon Payment next preceding such Contingent Coupon Payment
Date. The Regular Record Date for a Contingent Coupon Payment Date shall be the date one Business Day prior to such Contingent
Coupon Payment Date. 

Any
Contingent Coupon Payment 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

    	 	2	 

    	 

    

may
be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.

Payment
of any Contingent Coupon Payment 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 any Contingent Coupon Payment 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. Payments
of any Contingent Coupon Payment and the Maturity Payment Amount or the Optional Redemption Price, as applicable, 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 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, any payments on this
Security will be made to the Depositary by wire transfer of immediately available funds. 

Payment
of the Maturity Payment Amount or the Optional Redemption Price, as applicable, and any Contingent Coupon Payments on this Security
will be made 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.

Definitions
Relating to Maturity Payment Amount, the Optional Redemption Price and Contingent Coupon Payments

If
this Security is not redeemed prior to the Stated Maturity Date as provided above under “Optional Redemption,” the
“Maturity Payment Amount” of this Security will equal:

		•	if
                                         the Ending Level of the Lowest Performing Index on the Final Calculation Day (as defined
                                         below) is greater than or equal to its Downside Threshold Level: the Face Amount; or

 

		•	if
                                         the Ending Level of the Lowest Performing Index on the Final Calculation Day is less
                                         than its Downside Threshold Level:

 

 

 

All
calculations with respect to the Maturity Payment Amount will be rounded to the nearest one hundred-thousandth, with five one-millionths
rounded upward (e.g., 0.000005 would be rounded to 0.00001); and the Maturity Payment Amount will be rounded to the nearest cent,
with one-half cent rounded upward.

“Index”
shall mean each of the Russell 2000 Index, the S&P 500 Index and the EURO STOXX 50 Index.

The
“Pricing Date” shall mean October 16, 2019.

    	 	3	 

    	 

    

The
“Lowest Performing Index” for any Calculation Day will be the Index with the lowest Performance Factor on that
Calculation Day (as such Calculation Day may be postponed for one or more Indices).

The
“Performance Factor” with respect to an Index on any Calculation Day is its Closing Level on such Calculation
Day divided by its Starting Level (expressed as a percentage).

The
“Starting Level” with respect to the Russell 2000 Index is 1525.057, its Closing Level on the Pricing Date,
with respect to the S&P 500 Index is 2989.69, its Closing Level on the Pricing Date, and with respect to the EURO STOXX 50
Index is 3599.25, its Closing Level on the Pricing Date.

The
“Ending Level” of an Index will be its Closing Level on the Final Calculation Day.

The
“Coupon Threshold Level” with respect to the Russell 2000 Index is 1143.79275, which is equal to 75% of its
Starting Level, with respect to the S&P 500 Index is 2242.2675, which is equal to 75% of its Starting Level, and with respect
to the EURO STOXX 50 Index is 2699.4375, which is equal to 75% of its Starting Level.

The
“Downside Threshold Level” with respect to the Russell 2000 Index is 915.0342, which is equal to 60% of its
Starting Level, with respect to the S&P 500 Index is 1793.814, which is equal to 60% of its Starting Level, and with respect
to the EURO STOXX 50 Index is 2159.55, which is equal to 60% of its Starting Level.

The
“Closing Level” with respect to each Index on any Trading Day means the official closing level of that Index
reported by the relevant Index Sponsor on such Trading Day, as obtained by the Calculation Agent on such Trading Day from the
licensed third-party market data vendor contracted by the Calculation Agent at such time; in particular, taking into account the
decimal precision and/or rounding convention employed by such licensed third-party market data vendor on such date, subject to
the provisions set forth below under “—Market Disruption Events,” “—Adjustments to an Index”
and “—Discontinuance of an Index.”

“Index
Sponsor” shall mean the sponsor or publisher of an Index.

“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.

The
“Calculation Days” shall be the 16th day of each January, April, July and October, commencing January
2020 and ending July 2029, and the Final Calculation Day. If any such day is not a Trading Day with respect to any Index, such
Calculation Day for each Index will be postponed to the next succeeding day that is a Trading Day with respect to each Index.
A Calculation Day for an Index is also subject to postponement due to the occurrence of a Market Disruption Event (as defined
below) with respect to such Index on such Calculation Day. The “Final Calculation Day” is October 16,
2029. If a Market Disruption Event occurs or is continuing with respect to an Index on any Calculation Day, then such Calculation
Day for such Index will be postponed to the first succeeding Trading Day for such Index on which a Market Disruption Event for
such Index has not occurred and is not continuing; however, if such first

    	 	4	 

    	 

    

succeeding
Trading Day has not occurred as of the eighth Trading Day for such Index after the originally scheduled Calculation Day, that
eighth Trading Day shall be deemed to be the Calculation Day for such Index. If a Calculation Day has been postponed eight Trading
Days for an Index after the originally scheduled Calculation Day and a Market Disruption Event occurs or is continuing with respect
to such Index on such eighth Trading Day, the Calculation Agent will determine the Closing Level of such Index on such eighth
Trading Day in accordance with the formula for and method of calculating the Closing Level of such Index last in effect prior
to commencement of the Market Disruption Event, using the closing price (or, with respect to any relevant security, if a Market
Disruption Event has occurred with respect to such security, its good faith estimate of the value of such security at (i) with
respect to the S&P 500 Index or the Russell 2000 Index, the Scheduled Closing Time of the Relevant Stock Exchange for such
security or, if earlier, the actual closing time of the regular trading session of such Relevant Stock Exchange or (ii) with respect
to the EURO STOXX 50 Index, the time at which the official Closing Level of such Index is calculated and published by the relevant
Index Sponsor) on such date of each security included in such Index. As used herein, “closing price” means,
with respect to any security on any date, the Relevant Stock Exchange traded or quoted price of such security as of (i) with respect
to the S&P 500 Index or the Russell 2000 Index, the Scheduled Closing Time of the Relevant Stock Exchange for such security
or, if earlier, the actual closing time of the regular trading session of such Relevant Stock Exchange or (ii) with respect to
the EURO STOXX 50 Index, the time at which the official Closing Level of such Index is calculated and published by the relevant
Index Sponsor. Notwithstanding the postponement of a Calculation Day for an Index due to a Market Disruption Event with respect
to such Index on such Calculation Day, the originally scheduled Calculation Day will remain the Calculation Day for any Index
not affected by a Market Disruption Event on such day.

“Calculation
Agent Agreement” shall mean the Calculation Agent Agreement dated as of May 18, 2018 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, whether a Contingent Coupon Payment will be made, the Optional Redemption Price, if any, and the Maturity Payment
Amount, if any, 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.

Certain
Definitions 

A
“Trading Day” with respect to the S&P 500 Index or the Russell 2000 Index means a day, as determined by
the Calculation Agent, on which (i) the Relevant Stock Exchanges with respect to each security underlying such Index are
scheduled to be open for trading for their respective regular trading sessions and (ii) each Related Futures or Options Exchange
with respect to such Index is scheduled to be open for trading for its regular trading session.

A
“Trading Day” with respect to the EURO STOXX 50 Index means a day, as determined by the Calculation Agent,
on which (i) the relevant Index Sponsor is scheduled to

    	 	5	 

    	 

    

publish
the level of the EURO STOXX 50 Index and (ii) each Related Futures or Options Exchange with respect to the EURO STOXX 50 Index
is scheduled to be open for trading for its regular trading session.

The
“Relevant Stock Exchange” for any security underlying an Index means the primary exchange or quotation system
on which such security is traded, as determined by the Calculation Agent.

The
“Related Futures or Options Exchange” for an Index means an exchange or quotation system where trading has
a material effect (as determined by the Calculation Agent) on the overall market for futures or options contracts relating to
such Index.

Adjustments
to an Index

If
at any time the method of calculating an Index or a Successor Equity Index, or the closing level thereof, is changed in a material
respect, or if an Index or a Successor Equity Index is in any other way modified so that such index does not, in the opinion of
the Calculation Agent, fairly represent the level of such index had those changes or modifications not been made, then the Calculation
Agent will, at the close of business in New York, New York, on each date that the closing level of such index is to be calculated,
make such calculations and adjustments as, in the good faith judgment of the Calculation Agent, may be necessary in order to arrive
at a level of an index comparable to such Index or Successor Equity Index as if those changes or modifications had not been made,
and the Calculation Agent will calculate the closing level of such Index or Successor Equity Index with reference to such index,
as so adjusted. Accordingly, if the method of calculating an Index or Successor Equity Index is modified so that the level of
such index is a fraction or a multiple of what it would have been if it had not been modified (e.g., due to a split or
reverse split in such equity index), then the Calculation Agent will adjust such Index or Successor Equity Index in order to arrive
at a level of such index as if it had not been modified (e.g., as if the split or reverse split had not occurred).

Discontinuance
of an Index

If
an Index Sponsor discontinues publication of an Index, and such Index Sponsor or another entity publishes a successor or substitute
equity index that the Calculation Agent determines, in its sole discretion, to be comparable to such Index (a “Successor
Equity Index”), then, upon the Calculation Agent’s notification of that determination to the Trustee and the Company,
the Calculation Agent will substitute the Successor Equity Index as calculated by the relevant Index Sponsor or any other entity
for purposes of calculating the Closing Level of such Index on any date of determination. Upon any selection by the Calculation
Agent of a Successor Equity Index, the Company will cause notice to be given to the Holder of this Security.

In
the event that an Index Sponsor discontinues publication of an Index prior to, and the discontinuance is continuing on, a Calculation
Day and the Calculation Agent determines that no Successor Equity Index is available at such time, the Calculation Agent will
calculate a substitute Closing Level for such Index in accordance with the formula for and method of calculating such Index last
in effect prior to the discontinuance, but using only those securities that comprised such Index immediately prior to that discontinuance.
If a Successor Equity Index is selected or

    	 	6	 

    	 

    

the
Calculation Agent calculates a level as a substitute for such Index, the Successor Equity Index or level will be used as a substitute
for such Index for all purposes, including the purpose of determining whether a Market Disruption Event exists.

If
on a Calculation Day an Index Sponsor fails to calculate and announce the level of an Index, the Calculation Agent will calculate
a substitute Closing Level of such Index in accordance with the formula for and method of calculating such Index last in effect
prior to the failure, but using only those securities that comprised such Index immediately prior to that failure; provided
that, if a Market Disruption Event occurs or is continuing on such day with respect to such Index, then the provisions set
forth above under the definition of “Calculation Days” shall apply in lieu of the foregoing.

Market
Disruption Events 

A
“Market Disruption Event” with respect to the S&P 500 Index or the Russell 2000 Index means any of the
following events as determined by the Calculation Agent in its sole discretion:

		(A)	The
                                         occurrence or existence of a material suspension of or limitation imposed on trading
                                         by the Relevant Stock Exchanges or otherwise relating to securities which then comprise
                                         20% or more of the level of such Index or any Successor Equity Index at any time during
                                         the one-hour period that ends at the Close of Trading on that day, whether by reason
                                         of movements in price exceeding limits permitted by those Relevant Stock Exchanges or
                                         otherwise.

 

		(B)	The
                                         occurrence or existence of a material suspension of or limitation imposed on trading
                                         by any Related Futures or Options Exchange or otherwise in futures or options contracts
                                         relating to such Index or any Successor Equity Index on any Related Futures or Options
                                         Exchange at any time during the one-hour period that ends at the Close of Trading on
                                         that day, whether by reason of movements in price exceeding limits permitted by the Related
                                         Futures or Options Exchange or otherwise.

 

		(C)	The
                                         occurrence or existence of 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, securities that then comprise 20% or more of the level of such
                                         Index or any Successor Equity Index on their Relevant Stock Exchanges at any time during
                                         the one-hour period that ends at the Close of Trading on that day.

 

		(D)	The
                                         occurrence or existence of 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, futures or options contracts relating to such Index or any
                                         Successor Equity Index on any Related Futures or Options Exchange at any time during
                                         the one-hour period that ends at the Close of Trading on that day.

 

    	 	7	 

    	 

    

		(E)	The
                                         closure on any Exchange Business Day of the Relevant Stock Exchanges on which securities
                                         that then comprise 20% or more of the level of such Index or any Successor Equity Index
                                         are traded or any Related Futures or Options Exchange with respect to such Index or any
                                         Successor Equity Index prior to its Scheduled Closing Time unless the earlier closing
                                         time is announced by the Relevant Stock Exchange or Related Futures or Options Exchange,
                                         as applicable, at least one hour prior to the earlier of (1) the actual closing time
                                         for the regular trading session on such Relevant Stock Exchange or Related Futures or
                                         Options Exchange, as applicable, and (2) the submission deadline for orders to be entered
                                         into the Relevant Stock Exchange or Related Futures or Options Exchange, as applicable,
                                         system for execution at such actual closing time on that day.

 

		(F)	The
                                         Relevant Stock Exchange for any security underlying such Index or Successor Equity Index
                                         or any Related Futures or Options Exchange with respect to such Index or Successor Equity
                                         Index fails to open for trading during its regular trading session.

For
purposes of determining whether a Market Disruption Event has occurred with respect to the S&P 500 Index or the Russell 2000
Index:

 

		(1)	the
                                         relevant percentage contribution of a security to the level of such Index or any Successor
                                         Equity Index will be based on a comparison of (x) the portion of the level of such
                                         Index attributable to that security and (y) the overall level of such Index or Successor
                                         Equity Index, in each case immediately before the occurrence of the Market Disruption
                                         Event;

 

		(2)	the
                                         “Close of Trading” on any Trading Day for such Index or any Successor
                                         Equity Index means the Scheduled Closing Time of the Relevant Stock Exchanges with respect
                                         to the securities underlying such Index or Successor Equity Index on such Trading Day;
                                         provided that, if the actual closing time of the regular trading session of any such
                                         Relevant Stock Exchange is earlier than its Scheduled Closing Time on such Trading Day,
                                         then (x) for purposes of clauses (A) and (C) of the definition of “Market
                                         Disruption Event” above, with respect to any security underlying such Index or
                                         Successor Equity Index for which such Relevant Stock Exchange is its Relevant Stock Exchange,
                                         the “Close of Trading” means such actual closing time and (y) for purposes
                                         of clauses (B) and (D) of the definition of “Market Disruption Event”
                                         above, with respect to any futures or options contract relating to such Index or Successor
                                         Equity Index, the “Close of Trading” means the latest actual closing time
                                         of the regular trading session of any of the Relevant Stock Exchanges, but in no event
                                         later than the Scheduled Closing Time of the Relevant Stock Exchanges;

 

		(3)	the
                                         “Scheduled Closing Time” of any Relevant Stock Exchange or Related
                                         Futures or Options Exchange on any Trading Day for such Index or any Successor Equity
                                         Index means the scheduled weekday closing time of such Relevant Stock Exchange or Related
                                         Futures or Options Exchange on such Trading Day, without regard to after hours or any
                                         other trading outside the regular trading session hours; and

 

    	 	8	 

    	 

    

		(4)	an
                                         “Exchange Business Day” means any Trading Day for such Index or any
                                         Successor Equity Index on which each Relevant Stock Exchange for the securities underlying
                                         such Index or any Successor Equity Index and each Related Futures or Options Exchange
                                         with respect to such Index or any Successor Equity Index are open for trading during
                                         their respective regular trading sessions, notwithstanding any such Relevant Stock Exchange
                                         or Related Futures or Options Exchange closing prior to its Scheduled Closing Time.

 

A
“Market Disruption Event” with respect to the EURO STOXX 50 Index means any of (A), (B), (C) or (D) below,
as determined by the Calculation Agent in its sole discretion:

 

		(A)	Any
                                         of the following events occurs or exists with respect to any security included in such
                                         Index or any Successor Equity Index, and the aggregate of all securities included in
                                         such Index or Successor Equity Index with respect to which any such event occurs comprise
                                         20% or more of the level of such Index or Successor Equity Index;

		•	a
                                         material suspension of or limitation imposed on trading by the Relevant Stock Exchange
                                         for such security or otherwise at any time during the one-hour period that ends at the
                                         Scheduled Closing Time for the Relevant Stock Exchange for such security on that day,
                                         whether by reason of movements in price exceeding limits permitted by the Relevant Stock
                                         Exchange or otherwise;

		•	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,
                                         such security on its Relevant Stock Exchange at any time during the one-hour period that
                                         ends at the Scheduled Closing Time for the Relevant Stock Exchange for such security
                                         on that day; or

		•	the
                                         closure on any Exchange Business Day of the Relevant Stock Exchange for such security
                                         prior to its Scheduled Closing Time unless the earlier closing is announced by such Relevant
                                         Stock Exchange at least one hour prior to the earlier of (i) the actual closing time
                                         for the regular trading session on such Relevant Stock Exchange and (ii) the submission
                                         deadline for orders to be entered into the Relevant Stock Exchange system for execution
                                         at the Scheduled Closing Time for such Relevant Stock Exchange on that day.

		(B)	Any
                                         of the following events occurs or exists with respect to futures or options contracts
                                         relating to such Index or any Successor Equity Index:

		•	a
                                         material suspension of or limitation imposed on trading by any Related Futures or Options
                                         Exchange or otherwise at any time during the one-hour period that ends at the close of
                                         trading on such Related Futures or Options Exchange on that day, whether by reason of
                                         movements in price exceeding limits permitted by the Related Futures or Options Exchange
                                         or otherwise;

    	 	9	 

    	 

    

		•	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,
                                         futures or options contracts relating to such Index or Successor Equity Index on any
                                         Related Futures or Options Exchange at any time during the one-hour period that ends
                                         at the close of trading on such Related Futures or Options Exchange on that day; or

		•	the
                                         closure on any Exchange Business Day of any Related Futures or Options Exchange prior
                                         to its Scheduled Closing Time unless the earlier closing time is announced by such Related
                                         Futures or Options Exchange at least one hour prior to the earlier of (i) the actual
                                         closing time for the regular trading session on such Related Futures or Options Exchange
                                         and (ii) the submission deadline for orders to be entered into the Related Futures or
                                         Options Exchange system for execution at the close of trading for such Related Futures
                                         or Options Exchange on that day.

		(C)	The
                                         relevant Index Sponsor fails to publish the level of such Index or any Successor Equity
                                         Index (other than as a result of the relevant Index Sponsor having discontinued publication
                                         of such Index or Successor Equity Index and no Successor Equity Index being available).

		(D)	Any
                                         Related Futures or Options Exchange fails to open for trading during its regular trading
                                         session.

For
purposes of determining whether a Market Disruption Event has occurred with respect to the EURO STOXX 50 Index:

		(1)	the
                                         relevant percentage contribution of a security included in such Index or any Successor
                                         Equity Index to the level of such Index will be based on a comparison of (x) the portion
                                         of the level of such index attributable to that security to (y) the overall level of
                                         such index, in each case using the official opening weightings as published by the relevant
                                         Index Sponsor as part of the market opening data;

		(2)	the
                                         “Scheduled Closing Time” of any Relevant Stock Exchange or Related
                                         Futures or Options Exchange on any Trading Day means the scheduled weekday closing time
                                         of such Relevant Stock Exchange or Related Futures or Options Exchange on such Trading
                                         Day, without regard to after hours or any other trading outside the regular trading session
                                         hours; and

		(3)	an
                                         “Exchange Business Day” means any Trading Day on which (i) the relevant
                                         Index Sponsor publishes the level of such Index or any Successor Equity Index and (ii)
                                         each Related Futures or Options Exchange is open for trading during its regular trading
                                         session, notwithstanding any Related Futures or Options Exchange closing prior to its
                                         Scheduled Closing Time.

    	 	10	 

    	 

    

Calculation
Agent

The
Calculation Agent will determine whether a Contingent Coupon Payment will be made, the Optional Redemption Price, if any, and
the Maturity Payment Amount, if any. In addition, the Calculation Agent will (i) determine if adjustments are required to
the Closing Level of an Index under the circumstances described in this Security, (ii) if publication of an Index is discontinued,
select a Successor Equity Index or, if no Successor Equity Index is available, determine the Closing Level of such Index under
the circumstances described in this Security, 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.

Redemption
and Repayment

This
Security is not subject to repayment at the option of the Holder hereof prior to October 19, 2029. This Security is subject
to redemption prior to October 19, 2029 as set forth under “Optional Redemption” above. This Security is not
entitled to any sinking fund.

Acceleration

If
an Event of Default, as defined in the Indenture, with respect to this Security shall occur and be continuing, the Maturity Payment
Amount (calculated as set forth in the next two sentences) 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 Maturity Payment Amount hereof calculated as provided herein, plus a portion of a final Contingent Coupon
Payment, if any. The Maturity Payment Amount and any final Contingent Coupon Payment will be calculated as though the date of
acceleration were the Final Calculation Day. The final Contingent Coupon Payment, if any, will be prorated from and including
the immediately preceding Contingent Coupon Payment Date to but excluding the date of acceleration.

__________________

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.

 

	DATED:	 	 	 
	 	 	 	 
	 	WELLS FARGO FINANCE LLC
	 	 	 	 
	 	By:	 

 

	 		 	Its:	 
	 	 	 	 
	 	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 FINANCE LLC

 

MEDIUM-TERM
NOTE, SERIES A

Fully
and Unconditionally Guaranteed by Wells Fargo & Company

 

Principal
at Risk Securities Linked to the Lowest Performing of the Russell 2000® Index, the S&P 500®
Index and the EURO STOXX 50® Index due October 19, 2029

 

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 April 25, 2018, as amended or supplemented from time to
time (herein called the “Indenture”), among the Company, as issuer, Wells Fargo & Company, as guarantor
(the “Guarantor”) 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 Guarantor,
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 A, of the Company. 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.

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.

Guarantee

The
Securities of this series are fully and unconditionally guaranteed by the Guarantor as and to the extent set forth in the Indenture.

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 Guarantor and the rights of the Holders of the Securities of each series to be affected under the Indenture
at any time by the

    	 	13	 

    	 

    

Company,
the Guarantor 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 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
or the Guarantor 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, upon
compliance by the Company or the Guarantor 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

    	 	14	 

    	 

    

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 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 Guarantor, the Trustee and any agent of the
Company, the Guarantor 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 Guarantor, 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 Contingent Coupon Payments, if any, and the Maturity Payment Amount or
the Optional Redemption Price, as applicable, 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 any Contingent Coupon Payments or the Maturity Payment Amount or the Optional Redemption
Price, as applicable, 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 or of the Guarantor 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 FINANCE LLC 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.

 

 

    	 	17Exhibit 10.1

 

SEPARATION AGREEMENT AND GENERAL
RELEASE

This Separation
Agreement and General Release (the “Separation Agreement”) is entered into by and between Daniel E. Schmerin
(“Executive”), and Andover National Corporation (the “Company”) as of the last date indicated
next to the signatures of the parties hereto.

WHEREAS,
Executive has been employed by the Company as its Chief Executive Officer pursuant to an employment agreement, effective as of
November 1, 2018 (hereinafter, the “Employment Agreement”);

WHEREAS,
in connection with his employment, Executive entered into and remains bound by that certain Agreement Regarding Assignment of Inventions,
Confidentiality, Non-Competition, and Non-Solicitation, of even date with the Employment Agreement (hereinafter, the “Confidentiality
Agreement”);

WHEREAS,
Executive and the Company have mutually agreed that Executive will resign his role as Chief Executive Officer; and

WHEREAS,
Executive and the Company mutually desire to bring the employment relationship to an amicable conclusion and fully and finally
resolve any claims Executive might have against the Company, as described further herein.

NOW, THEREFORE,
FOR AND IN CONSIDERATION of good and valuable consideration set forth below, the receipt and sufficiency of which are hereby
acknowledged by each party, the Company and Executive agree as follows.

1.              
Separation. Executive’s resignation as Chief Executive Officer shall be effective immediately upon the
execution of this Separation Agreement, and his resignation as an employee of the Company shall be effective at the close of business
on October 31, 2019. Executive also resigns from and relinquishes any other titles, offices, and authority related to his employment
with the Company, including his role as a Director of the Company’s Board of Directors, and Executive agrees to execute any
such additional documentation reasonably required to effectuate such resignation(s). Within five (5) business days of the execution
of this Separation Agreement, Executive shall return all of the Company’s property in his possession, including, without
limitation, Company-issued laptop, electronically-stored information or data, reports, customer lists, files, memoranda, records,
credit cards, keys, passwords, computers, software, telecommunication equipment, and other physical or personal property that he
received, prepared, or helped prepare in connection with his employment.

2.              
Compensation and Release Consideration.

a.       Provided
that Executive signs this Separation Agreement and complies with the terms of this Separation Agreement, then subject to the terms
of this Separation Agreement, the Company agrees to:

		i.	pay to Executive, on or before November 15, 2019, a lump-sum cash payment (the “Severance
Payment”) in the gross amount of One-Hundred Seventy Thousand Dollars ($170,000.00), less applicable withholdings and
deductions;

     

     

    

 

		ii.	pay to Executive, on or before November 15, 2019, an additional lump-sum cash payment in the amount
of Thirty-Six Thousand Six Hundred Forty-Six and 62/100 ($36,646.62), representing reimbursement of certain expenses previously
submitted by Executive and consideration for Executive’s agreement to enter into the transactions described in Exhibits A
and B hereto;

		iii.	pay to Executive, a series of twelve (12) monthly payments in calendar year 2020 (each an “Additional
Payment,” and collectively the “Additional Payments”), in accordance with the Company’s payroll
payment policy as in effect from time to time but under all circumstances not later than the last business day of each month, less
applicable withholdings and deductions, as more fully described in Section 2(b);

iv.directly
pay on behalf of Executive any and all premiums attributable to COBRA insurance coverage, provided that Executive timely elects
such coverage, for the period ending on the earlier of (x) December 31, 2020, and (y) the date that Executive becomes eligible
to elect coverage under another employer’s plan (the “COBRA Benefits”); and

		v.	contribute to Executive’s retirement account, on or before January 31, 2020 (or such other
timeframe specified in the governing plan documents), the remaining Employer Safe Harbor Matching Contribution that Executive was
entitled to receive pursuant to the Company’s retirement savings plan (which, for the avoidance of doubt, is understood to
be approximately $8,500) subject only to the terms of the governing plan documents and any applicable law or regulation.

Of the foregoing payments and benefits,
the Severance Payment and the Additional Payments shall be reported on a Form W-2 as wages to Executive and shall be subject to
applicable withholdings and deductions.

b.       The
gross amount of each monthly “Additional Payment” shall be calculated as (i) Fifteen-thousand dollars ($15,000), minus
(ii) Executive’s Mitigating Compensation (as defined herein) with respect to that particular month, plus or minus (iii) any
amount necessary to adjust the overall Additional Payments received by Executive to the level that would have been paid pursuant
to this Separation Agreement in view of any information concerning Mitigating Compensation that was not incorporated into the calculation
of prior Additional Payments (whether due to delay, mistake or otherwise and without regard to the fault of any party). For the
avoidance of doubt, the maximum aggregate gross amount of the Additional Payments – assuming a total absence of Mitigating
Compensation – is One-hundred Eighty Thousand Dollars ($180,000).

c.       For
purposes of this Separation Agreement, “Mitigating Compensation” shall mean, with respect to any month (or other
period, as the context may dictate) the greater of: (i) the amount of any compensation Executive is entitled to receive under any
employment or consulting terms agreed with another employer or entity in respect of such period, and (ii) any compensation actually
received by Executive as employment, self-employment or consulting income in respect of such period. For the avoidance of doubt,
and to effectuate the parties’ intent that any income received in respect of services performed by Executive in 2020 shall
reduce the amount of the Additional Payments owed to Executive by the Company, Section 2(c)(i) shall be construed to include the
amount of any compensation payable to Executive after 2020 that is attributable to his services performed in 2020. Notwithstanding
the foregoing, “Mitigating Compensation” shall not include the first $7,500 in income, in the aggregate, from any consulting
engagements similar in character to those Executive has entered into in the past.

    2 

     

    

d.       Executive
shall promptly notify the Company if he receives any Mitigating Compensation, which notice shall include a description of the amount
thereof. Executive agrees to provide to the Company on a timely basis all information necessary to the calculation of the Additional
Payments, including by providing offer letters, employment agreements, compensation plans, paystubs, or similar documentation as
soon as reasonably practicable after the same become available to Executive. Upon request by the Company, Executive shall provide
an independent third party certified public accountant selected by the Company (reasonably acceptable to Executive) with a copy
of all tax returns, Form W-2s, K-1s, Form 1099s and other necessary tax documentation relating to his receipt of income (in relation
to services performed in 2019 or 2020), so that such accountant may verify the proper calculation of the Additional Payments. In
the event of any overpayment of the Additional Payments, Executive agrees to repay the amount of any such overpayment to the Company,
within thirty (30) days of due demand for the same. In the event of (i) Executive’s willful failure to accurately provide
the information required herein, or (ii) Executive’s continued failure to cooperate with the Company’s reasonable requests
to provide information as set forth herein that persists for thirty (30) days, Executive shall be deemed to forfeit any right to
further Additional Payments not already paid to him.

e.       Executive
shall promptly notify the Company if he becomes eligible to participate in another employer’s health insurance plan prior
to December 31, 2020. If any overpayment of the COBRA Benefits occurs due to a failure of Executive to disclose such eligibility
in a timely fashion, Executive agrees to repay the amount of any such overpayment to the Company, within thirty (30) days of due
demand for the same.

f.       If
Executive breaches any of his obligations under this Separation Agreement, the Company may seek any and all applicable remedies
at law and equity including terminating Executive’s rights to the Severance Payment, the Additional Payments or the COBRA
Benefits and/or seeking repayment of the same. For the avoidance of doubt, Executive acknowledges and agrees that the payments
provided for in this Separation Agreement constitute his sole and exclusive entitlement to any compensation in relation to the
cessation of his employment, and, further, that he is relinquishing any claim to any other compensation or termination benefits
provided for in the Employment Agreement, including, without limitation, any claim for an annual bonus pursuant to Section 2.01(B)
of the Employment Agreement, any claim to severance pay or other benefits described in Article III of the Employment Agreement,
or any claim for severance pay under any claimed policy or practice of the Company. For the avoidance of doubt, nothing in this
Separation Agreement shall be construed to permit the Company to terminate Executive’s employment for any reason prior to
his resignation on October 31, 2019, and any such purported termination shall not afford the Company any right to avoid its obligations
under this Separation Agreement.

    3 

     

    

 

3.              
Release. By Executive’s signature below, in consideration of the Company’s promises set forth
in this Separation Agreement, Executive hereby releases and forever discharges the Company and any of its past or present parents,
subsidiaries, predecessors, successors, or assigns, and any of its or their past or present directors, members, officers, agents,
employees, representatives, and attorneys, and its PEO, JustWorks, Inc. (collectively, the “Company Released Parties”)
to the extent provided below. Each non-signatory to this Separation Agreement within the definition of the “Company Released
Parties” is intended to be a third-party beneficiary of this Separation Agreement, and this Separation Agreement may be enforced
by each of them in accordance with the terms hereof in respect of the rights granted to such persons hereunder. Subject to the
foregoing, Executive agrees as follows:

a.       Both
parties understand that the payments or benefits paid or granted to Executive under Section 2 of this Separation Agreement represent,
in part, consideration for signing this Separation Agreement, and are not salary, wages, or benefits to which he was already entitled.
Such payments and benefits will not be considered compensation for purposes of any employee benefit plan, program, policy, or arrangement
maintained or hereafter established by the Company or its affiliates.

b.       Except
as provided in Section 3(d), Executive knowingly and voluntarily (for himself, his heirs, executors, administrators, and assigns)
releases and forever discharges the Company and the other Company Released Parties from any and all claims, suits, controversies,
actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or
exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and
in equity, and whether known or unknown, suspected, or claimed against the Company or any of the Company Released Parties that
Executive, his spouse, or any of his heirs, executors, administrators or assigns, may have or have had, from the beginning of time
through and including the date that Executive executes this Separation Agreement, including, without limitation, any claims under
the Employment Agreement, any claims which arise out of or are connected with Executive’s employment with, or separation
or termination from, the Company including, but not limited to, any allegation, claim or violation, arising under: Title VII
of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Equal Pay Act of 1963, as amended; the Americans
with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act;
the Executive Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; the
New York State Human Rights Law; the New York Labor Law; the New York City Administrative Code; the Florida Civil Human Rights
Act; the Florida Equal Pay Law, the Florida Wage Discrimination Law; Chapter 11A of the Miami-Dade County Code; or under any other
federal, state or local civil or human rights law, or under any other local, state, or federal law, regulation or ordinance; or
under any public policy, contract or tort, or under common law; or arising under any policies, practices or procedures of the Company;
or any claim for wrongful discharge, breach of contract, infliction of emotional distress, defamation; or any claim for costs,
fees, or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred
to herein as the “Claims”).

    4 

     

    

 

c.       Executive
represents and warrants that he has made no assignment or transfer of any Claims covered by Section 3(b) above.

d.       Notwithstanding
the above, Executive further acknowledges that he is not waiving and is not being required to waive any right that cannot be waived
under law, including the right to file an administrative charge or participate in an administrative investigation or proceeding;
provided, however, that Executive disclaims and waives any right to share or participate in any monetary award resulting
from the prosecution of such charge or investigation or proceeding, except that nothing in this Separation Agreement limits Executive’s
right to receive an award or bounty for providing information to a governmental authority pursuant to any law or regulation. Additionally,
Executive is not waiving (i) any claim for the benefits provided for in this Separation Agreement; (ii) any vested retirement
benefits; (iii) his rights to indemnification set forth in the Employment Agreement (which are incorporated into this Separation
Agreement as if fully set forth herein) or under the Company’s bylaws or other organizing documents; (iv) his rights under
COBRA, or (v) rights as a holder of equity in the Company, except to the extent waived in the exhibits hereto.

e.       In
signing this Separation Agreement, Executive acknowledges and intends that it shall be effective as a bar to each and every one
of the Claims hereinabove mentioned or implied. Executive expressly consents that this Separation Agreement shall be given full
force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected
Claims (notwithstanding any state or local statute that expressly limits the effectiveness of a Separation Agreement of unknown,
unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied.
Executive acknowledges that he may hereafter discover claims or facts in addition to or different than those which he now knows
or believes to exist with respect to the subject matter of the release set forth in Section 3(b) above and which, if known or suspected
at the time of entering into this Separation Agreement, may have materially affected this Separation Agreement and his decision
to enter into it. Executive acknowledges and agrees that this waiver is an essential and material term of this Separation Agreement
and that without such waiver the Company would not have agreed to the terms of this Separation Agreement. Executive further agrees
that if he should bring a Claim seeking damages against the Company, or if he should seek to recover against the Company in any
Claim brought by a governmental agency on his behalf, this Separation Agreement shall serve as a complete defense to such Claims
to the maximum extent permitted by law. Executive further agrees that he is not aware of any pending Claim of the type described
in Section 3(b) above as of the execution of this Separation Agreement.

4.              
Related Agreements. Provided that the Company’s Board of Directors has approved this Separation Agreement
and its attached exhibits, (a) Executive agrees to enter into the Warrant Cancellation Agreement attached hereto as Exhibit A,
and (b) Executive further agrees to the Share Conversion Agreement attached hereto as Exhibit B. Executive agrees to complete all
necessary disclosures, consents, or other documentation that the Company reasonably determines is necessary to effectuate the transactions
reflected in Exhibits A and B.

    5 

     

    

 

5.              
No Admissions. Both parties agree that neither this Separation Agreement, nor the furnishing of the consideration
for this Separation Agreement, shall be deemed or construed at any time to be an admission by the Company, any Company Released
Party, or Executive of any improper or unlawful conduct.

6.              
Continuing Obligations Under Confidentiality Agreement. Executive acknowledges that even after the conclusion
of his employment, he remains bound by his obligations to the Company set forth in his Confidentiality Agreement, and such obligations
are incorporated into this Separation Agreement as if fully set forth herein, except that the Company waives Executive’s
obligations under Section 6.1(b) of the Confidentiality Agreement. Without altering any aspect of the foregoing, Executive is reminded
of his obligations with respect to non-interference with the Company’s opportunities, as more fully set forth in Section
6.3 of the Confidentiality Agreement, and Executive re-affirms his commitment to abide by those obligations. Further, for clarity,
the parties note that Executive’s obligations under Section 6.1(a) of the Confidentiality Agreement extend only to businesses
involved in pest control, mosquito control, lawn and tree care, irrigation systems, or landscape maintenance.

7.              
Exceptions. Executive acknowledges and agrees that nothing in this Separation Agreement or in any agreement
between him and the Company prohibits or limits him (or his attorney) from initiating communications directly with, responding
to any inquiry from, volunteering information to, or providing testimony before, the Securities and Exchange Commission (SEC),
the Department of Justice, FINRA, any other self-regulatory organization, or any other governmental, law enforcement, or regulatory
authority, regarding this Separation Agreement and its underlying facts and circumstances, or any reporting of, investigation into,
or proceeding regarding suspected violations of law, and that he is not required to advise or seek permission from the Company
before engaging in any such activity. Executive further acknowledges that, in connection with any such activity, he must inform
such authority of the confidential nature of any confidential information that he provides, and that he is not permitted to disclose
any information that is protected by the attorney-client privilege or any other privilege belonging to the Company, as the Company
does not waive and intends to preserve such privileges.

8.              
Cooperation. Executive agrees to make himself reasonably available to, and to cooperate with the Company in,
any internal investigation or administrative, regulatory, or judicial inquiry, investigation, proceeding or arbitration, both before
and after the Separation Date. Executive understands and agrees that his reasonable cooperation includes, but is not limited to,
making himself available to the Company upon reasonable notice for interviews and factual investigations; appearing at the Company’s
request to give testimony without requiring service of a subpoena or other legal process; volunteering to the Company pertinent
information; and turning over all relevant documents which are or may come into his possession. The term “cooperation”
does not mean that Executive must provide information that is favorable to the Company; it means only that Executive will provide
truthful information within his knowledge and possession upon request of the Company. Executive understands that, if the Company
asks for his cooperation in accordance with this provision, or he is required to participate in an administrative or legal proceeding
or arbitration related to matters within the scope of his employment at the Company, the Company will reimburse him for reasonable
travel and lodging expenses provided that Executive submits to the Company appropriate documentation of such expenses within thirty
(30) calendar days after such expenses are incurred (provided that such proceeding was not initiated by Executive and does not
otherwise concern any claims by Executive against the Company or any of the other Company Released Parties).

    6 

     

    

 

9.              
Attorneys’ Fees. The Company agrees to pay the reasonable fees and expenses of legal counsel incurred
by Executive in connection with this Separation Agreement; provided, however, that the amount payable pursuant to
this Section shall (i) not exceed $5,000, and (ii) be paid within 30 calendar days of presentation of documentation reasonably
satisfactory to the Company.

10.           
Choice of Law. This Separation Agreement, the performance of this Agreement, and any and all matters arising
directly or indirectly herefrom shall be governed by and construed and enforced in accordance with the internal laws of the State
of New York, without giving effect to the conflict or choice of law provisions and principles thereof.

11.           
Resolution of Disputes. Any dispute, controversy, or claim arising out of relating to this Separation Agreement
shall be resolved by binding arbitration before a single arbitrator in accordance with the then-current Employment Arbitration
Rules & Procedures of JAMS, including its Optional Arbitration Appeal Procedure. The arbitration shall be confidential, and
shall take place in New York, New York. Notwithstanding the foregoing, any claim by the Company seeking enforcement of the Confidentiality
Agreement shall not be subject to this arbitration provision.

12.           
Severability. Whenever possible, each provision of this Separation Agreement shall be interpreted in such
manner as to be effective and valid under applicable law, but if any provision of this Separation Agreement is held to be invalid,
illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or
unenforceability shall not affect any other provision or any other jurisdiction, but this Separation Agreement shall be reformed,
construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had never been contained herein.

13.           
Assignment. This Separation Agreement may be assigned to any affiliate or any person who, whether by merger,
purchase, or otherwise, acquires all or substantially all of the assets, stock, or business of the Company or of any discrete portion
thereof. Executive may not assign this Separation Agreement.

14.           
Entire Agreement; Amendment. This Separation Agreement (including the exhibits hereto) is the entire agreement
between Executive and the Company with respect to the matters addressed herein. The Company makes no representations regarding
its relationship with or obligations to Executive, or as to the tax consequences of Executive’s entering into this Separation
Agreement, and none it may have made in the past survive, except as set forth in this Separation Agreement. Executive expressly
agrees that the Company shall have no liability to him for any tax or penalty imposed on him as a result of this Separation Agreement.
This Separation Agreement (including the exhibits hereto) supersedes all existing agreements, whether written or oral, between
Executive and the Company concerning his employment, except that the Confidentiality Agreement survives and remains binding on
Executive. For the avoidance of doubt, the parties agree that the Employment Agreement is of no further force or effect. This Separation
Agreement cannot be amended, supplemented, or modified nor may any provision hereof be waived, except by a written instrument executed
by the party against whom enforcement of any such amendment, supplement, modification, or waiver is sought.

    7 

     

    

 

15.           
Voluntary Execution. Executive acknowledges that he has carefully read this Separation Agreement and that
he understands all of its terms including the full and final release of claims set forth in Section 3. He further acknowledges
that he has voluntarily entered into this Separation Agreement; that he has not relied upon any representation or statement, written
or oral, not set forth in this Separation Agreement; and that the only consideration for signing this Separation Agreement is as
set forth herein.

16.           
Acceptance. This Separation Agreement may be executed in one or more counterparts, each of which shall be
deemed to be an original but all of which together will constitute one and the same instrument.

IN WITNESS
WHEREOF, the parties have executed this Separation Agreement on the latest date set forth below.

	ANDOVER
    NATIONAL CORPORATION	 	 	 
	 	 	 	 
	 	 	 	 
	/s/ Jeffrey C. Piermont	 	October 20, 2019	 
	By:	 	Date	 
	Name: Jeffrey C. Piermont	 	 	 
	Title: President
    and Chief Operating Officer	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	DANIEL
    E. SCHMERIN	 	 	 
	 	 	 	 
	 	 	 	 
	/s/ Daniel E. Schmerin	 	October 20, 2019	 
	 	 	Date	 

 

    8 

     

    

 

EXHIBIT A

WARRANT CANCELLATION AGREEMENT

 

 

 

 

 

 

 

 

 

 

 

    9 

     

    

 

WARRANT CANCELLATION AGREEMENT

This Warrant Cancellation
Agreement (this “Agreement”) is entered into as of October 20, 2019 (the “Effective Date”),
by and between Andover National Corporation (the “Company”), Daniel E. Schmerin (“Schmerin”)
and Windber National, LLC (“Windber” and together with the Company and Schmerin, the “Parties”).

WHEREAS,
Windber is the holder of (a) Class W-1 warrants to purchase 450,000 shares of Class A common stock of the Company (the “Class
W-1 Warrants”) and (b) Class W-2 warrants to purchase 450,000 shares of Class A common stock of the Company (the “Class
W-2 Warrants” and together with the Class W-1 Warrants, the “Warrants”).

WHEREAS,
the Company and Schmerin have entered into that certain Separation Agreement and General Release (the “Separation Agreement”)
pursuant to which, among other matters, Schmerin has agreed to cancel all outstanding Warrants.

WHEREAS,
Windber is a limited liability company wholly owned by Schmerin.

WHEREAS,
in connection with the consummation of the transactions contemplated under this Agreement and the Separation Agreement, the Warrants
will be cancelled and terminated.

NOW, THEREFORE, in consideration
of the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties hereby agree as follows:

1.               
Termination of the Warrants. All of the Warrants held by Schmerin and Windber will be automatically terminated as
of the Effective Date with no further action required by either the Company, Schmerin or Windber. Each of Schmerin and Windber
agrees to waive, and hereby waives, any and all rights that he or it may have pursuant to the Warrants, including, without limitation,
any notice requirements or other provisions contained in any agreements relating to the Warrants. Each of Schmerin and Windber
hereby acknowledges and agrees that the consideration specified in Section 2 below and as more fully provided for in the
Separation Agreement represents full and final satisfaction of all of the Company’s obligations to Schmerin or Windber in
respect of the Warrants, including, without limitation, in connection with the transactions contemplated by the Separation Agreement.
Effective upon the termination of the Warrants, the Warrants will have no further force or effect and the Company will not have
any further obligations to Schmerin or Windber with respect to the Warrants.

2.               
Consideration. Each of the Company, Schmerin and Windber hereby irrevocably acknowledges and agrees that, in exchange
for the execution of this Agreement, Schmerin and Windber shall receive good and sufficient consideration from the Company in the
form of the Company’s execution of the Separation Agreement and the promises and covenants of the Company set forth therein,
and that no additional consideration of any kind is due to Schmerin or Windber pursuant to this Agreement.

3.               
Representations and Warranties. Each of Schmerin and Windber hereby represents and warrants that: (i) Windber is
the sole owner and holder of the Warrants, free and clear of all liens, claims, restrictions, pledges, security interests and encumbrances;
(ii) it has the full power, authority and legal right to execute and deliver this Agreement and perform the terms hereof; (iii) this
Agreement has been duly executed and delivered by each of Schmerin and Windber and constitutes each of their valid, binding and
enforceable obligation; (iv) there is no contractual obligation, or obligation under any law or court order, pursuant to which
either Schmerin or Windber has, directly or indirectly, granted any option, warrant or other right to any Person to acquire any
of the Warrants or shares of capital stock issuable upon exercise of such Warrants; (v) the execution, delivery and performance
of this Agreement by each of Schmerin and Windber does not and will not (a) violate any law or any order, judgment or decree of
any court or other governmental or regulatory authority, or (b) violate or result in a breach of or constitute (with due notice
or lapse of time or both) a default under any contract, lease, loan agreement, mortgage, security agreement, trust indenture or
other agreement or instrument to which either Schmerin or Windber is a party or by which either of them are bound; and (vi) upon
the termination of the Warrants in connection with this Agreement, neither Schmerin nor Windber will hold other options or rights
to purchase capital stock or other equity interests in the Company or under any plan, award, grant, agreement or understanding.

    10 

     

    

 

4.               
Release of Claims. Each of Schmerin and Windber, for each of them and their respective affiliates, partners, heirs,
beneficiaries, successors and assigns, if any, hereby releases and absolutely forever discharges the Company and its affiliates,
shareholders, directors, officers, employees, agents and representatives and each of their respective affiliates (each, a “Released
Party”) from any and all losses, lawsuits, claims, counterclaims, actions, demands, assessments, proceedings, arbitrations,
investigations, damages, liabilities, obligations, deficiencies, taxes, costs and expenses of any nature whatsoever, whether known
or unknown, suspected or unsuspected, that any of them now has, at any time previously had or may have in the future as a shareholder,
director, officer, employee, agent or representative of the Company, arising by virtue of or in any matter related to or arising
from the undersigneds’ ownership of any capital stock of, or other equity or voting securities or interests in, or any convertible
securities to purchase equity in, the Company, including, but not limited to, any claim that the undersigned owns or has the right
to acquire any capital stock of, or other equity or voting securities or interests in, the Company (collectively, “Released
Matters”). It is further agreed and understood that this is a full and final release of all Released Matters whether
known or unknown, fixed or contingent, manifested or unmanifested.

5.               
Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State
of Delaware (without giving effect to principles of conflicts of laws).

6.               
Severable Provisions; Headings; Construction. If any term or provision of this Agreement is invalid, illegal or unenforceable
in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement
or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or
other provision is invalid, illegal or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as
to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the greatest extent possible. The headings in this Agreement are
for reference only and shall not affect the interpretation of this Agreement.

7.               
Entire Agreement. This Agreement and the Separation Agreement constitute the entire agreement between the Parties
hereto pertaining to the subject matter hereof, and supersede all prior and contemporaneous agreements, understandings, negotiations
and discussions, whether oral or written, of the Parties including, without limitation, any agreement relating to the Warrants.
No supplement, modification or waiver or termination of this Agreement or any provision hereof shall be binding unless executed
in writing by the Parties to be bound thereby. This Agreement shall be binding upon all successors and assigns of the Parties.

8.               
Third Party Beneficiary. Each of Schmerin and Windber acknowledges and agrees that each Released Party is a third
party beneficiary of the representations, warranties, covenants and agreements of Schmerin and Windber set forth in this Agreement.

    11 

     

    

 

9.               
Further Assurances. Each of Schmerin and Windber will, upon request, execute and deliver any additional documents
reasonably deemed appropriate or necessary by the Company in connection with the cancellation of the Warrants.

10.            
Counterparts and Facsimile or Electronic Transmission. This Agreement may be executed in two or more counterparts,
any one of which need not contain the signatures of all Parties, but all of which counterparts when taken together will constitute
one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or electronic
transmission in a pdf. file or other similar image file, shall be effective as delivery of a manually executed counterpart thereof.

 

[Remainder of Page Intentionally Left
Blank]

 

    12 

     

    

IN WITNESS WHEREOF,
the Parties hereto have executed this Agreement as of the date first set forth above.

ANDOVER NATIONAL CORPORATION

	By: 	 	 
	Name: 	 	 
	Title: 	 	 

 

    1 

     

    

 

WINDBER NATIONAL, LLC

	By: 	 	 	 
	Name: 	Daniel E. Schmerin	 	 
	Title:	Managing Member	 	 
	 	 	 	 
	 	 	 	 
	 	 	 
	Daniel E. Schmerin	 	 
	 	 	 	 

 

    2 

     

    

EXHIBIT B

SHARE CONVERSION AGREEMENT

 

 

 

 

    3 

     

    

 

AGREEMENT REGARDING CONVERSION
OF CLASS B COMMON STOCK

This Agreement Regarding Conversion of Class B Common Stock (this
“Agreement”) is entered into as of October 20, 2019 (the “Effective Date”), by and between
Andover National Corporation (the “Company”), Daniel E. Schmerin (“Schmerin”) and Windber
National, LLC (“Windber” and together with the Company and Schmerin, the “Parties”).

 

WHEREAS, Windber is the holder of 40,599
issued and outstanding shares of the Company’s Class B Common Stock, $0.001 par value (the “Class B Shares”).

 

WHEREAS,
the Company and Schmerin have entered into that certain Separation Agreement and General Release (the “Separation Agreement”)
pursuant to which, among other matters, Schmerin has agreed to convert all of the Class B Shares into shares of the Company’s
Class A Common Stock, par value $0.001 par value (the “Class A Common Stock”).

 

WHEREAS, Windber is a limited liability
company wholly owned by Schmerin.

 

WHEREAS, the Company, Schmerin and Windber
desire to convert the Class B Shares into shares of the Company’s Class A Common Stock upon the terms set forth herein below.

 

NOW, THEREFORE, in consideration of the
mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Parties hereby agree as follows:

 

1.              
Windber, on behalf of itself, hereby elects to convert (the “Conversion”) all Class B Shares held
by Windber into shares of Class A Common Stock. Each share of Class B Common Stock will convert into one (1) share of Class A Common
Stock. The Parties agree that the Class B Shares shall convert into an aggregate 40,599 shares of Class B Common Stock.

2.              
Each of Schmerin and Windber hereby represents and warrants that (i) Windber has valid legal and beneficial right,
title and interest in and to the Class B Shares, (ii) is the sole owner of the Class B Shares, (iii) has not sold, transferred,
pledged or otherwise disposed of the Class B Shares or any interest in the Class B Shares, (iv) has not received from any person
a claim of right, title or interest adverse to it in the Class B Shares, (v) has full power and authority to execute, perform and
deliver this Agreement, and (vi) is not a party to any agreement, instrument or understanding nor are the Class B Shares bound
by any agreement, instrument or understanding that has been or will be violated by the execution, delivery or performance of its
obligations under this Agreement. Each of Schmerin and Windber hereby further represents and warrants that (a) this Agreement,
when executed and delivered by each of Schmerin and Windber, shall constitute a valid, legal, and binding obligation of each of
them, enforceable in accordance with its terms (except as the enforcement may be limited by bankruptcy, reorganization, insolvency,
or other similar laws affecting creditors’ rights generally, or by the application of general principals of equity), and
(b) each of Schmerin and Windber has had an opportunity to (i) discuss the Company’s business, management, financial affairs
and future plans with the Company’s management, (ii) visit the Company’s facilities, and (iii) review the Company’s
financial statements and projections, has received all of the information from the Company’s management that it deemed necessary
or desirable to reach a decision to convert the Class B Shares.

    4 

     

    

 

3.              
Each of Schmerin and Windber, for himself or itself and for their respective heirs, successors, assigns and legal
and personal representatives, hereby agrees to indemnify, defend and hold harmless the Company, its directors, officers, employees,
agents and representatives and each of their respective affiliates, from any and all liabilities, losses, claims, damages and expenses
(including attorneys’ fees) arising in the event that any person claims an interest in the Class B Shares, or claims the
right to receive payment or distribution of any money or property with respect to the Class B Shares.

4.              
By the execution and delivery of this Agreement and acceptance of the shares of Class A Common Stock pursuant to
this Agreement and the Conversion, each of Schmerin and Windber, for each of them and their respective affiliates, partners, heirs,
beneficiaries, successors and assigns, if any, hereby releases and absolutely forever discharges the Company and its affiliates,
shareholders, directors, officers, employees, agents and representatives and each of their respective affiliates (each, a “Released
Party”) from any and all losses, lawsuits, claims, counterclaims, actions, demands, assessments, proceedings, arbitrations,
investigations, damages, liabilities, obligations, deficiencies, taxes, costs and expenses of any nature whatsoever, whether known
or unknown, suspected or unsuspected, that any of them now has, at any time previously had or may have in the future as a shareholder,
director, officer, employee, agent or representative of the Company, arising by virtue of or in any matter related to or arising
from the undersigneds’ ownership of any capital stock of, or other equity or voting securities or interests in, or any convertible
securities to purchase equity in, the Company, including, but not limited to, any claim that the undersigned owns or has the right
to acquire any capital stock of, or other equity or voting securities or interests in, the Company (collectively, “Released
Matters”). It is further agreed and understood that this is a full and final release of all Released Matters whether
known or unknown, fixed or contingent, manifested or unmanifested.

5.              
This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware (without
giving effect to principles of conflicts of laws).

6.              
If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable
such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal
or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the
Parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated
as originally contemplated to the greatest extent possible. The headings in this Agreement are for reference only and shall not
affect the interpretation of this Agreement.

7.              
This Agreement and the Separation Agreement constitute the entire agreement between the Parties hereto pertaining
to the subject matter hereof, and supersede all prior and contemporaneous agreements, understandings, negotiations and discussions,
whether oral or written, of the Parties including, without limitation, any agreement relating to the Conversion. No supplement,
modification or waiver or termination of this Agreement or any provision hereof shall be binding unless executed in writing by
the Parties to be bound thereby. This Agreement shall be binding upon all successors and assigns of the Parties.

    5 

     

    

 

8.              
Each of Schmerin and Windber acknowledges and agrees that each Released Party is a third party beneficiary of the
representations, warranties, covenants and agreements of Schmerin and Windber set forth in this Agreement.

9.              
Each of Schmerin and Windber will, upon request, execute and deliver any additional documents reasonably deemed appropriate
or necessary by the Company in connection with the Conversion.

10.           
This Agreement may be executed in two or more counterparts, any one of which need not contain the signatures of all
Parties, but all of which counterparts when taken together will constitute one and the same instrument. Delivery of an executed
counterpart of a signature page to this Agreement by facsimile or electronic transmission in a pdf. file or other similar image
file, shall be effective as delivery of a manually executed counterpart thereof.

[Remainder of Page Intentionally Left
Blank]

 

    6 

     

    

 

IN WITNESS WHEREOF,
the Parties hereto have executed this Agreement as of the date first set forth above.

  

ANDOVER NATIONAL CORPORATION

	By: 	 	 
	Name: 	 	 
	Title: 	 	 

    7 

     

    

 

WINDBER NATIONAL, LLC

 

	By: 	 	 	 
	Name: 	Daniel E. Schmerin	 	 
	Title:	Managing Member	 	 
	 	 	 	 
	 	 	 	 
	 	 	 
	Daniel E. Schmerin	 	 
	 	 	 	 

    8

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