Document:

EX-10.1

 Exhibit 10.1 
  

 
  

 
 

 
 SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT 

AGREEMENT 
 dated as of
May 15, 2018  
 among 

Amplify Energy Operating LLC, 

as Borrower, 
 The
Guarantors Party Hereto, 
 Wells Fargo Bank, National Association, 

as Administrative Agent, 

and 
 The Lenders Party
Hereto 
  
   

 
  

 SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

This SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Second Amendment”), dated as of May 15,
2018 (the “Second Amendment Effective Date”), is among AMPLIFY ENERGY OPERATING LLC, a limited liability company formed under the laws of the State of Delaware (the “Borrower”); AMPLIFY ACQUISITIONCO
INC., a corporation formed under the laws of the State of Delaware (the “Parent”); each of the other undersigned guarantors (together with the Borrower and the Parent, collectively, the “Loan
Parties”); each of the Lenders that is a signatory hereto; and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such capacity, together with its successors, the “Administrative
Agent”). 
 Recitals 

A.    The Borrower, the Parent, the Administrative Agent and the Lenders are parties to that certain Amended and Restated
Credit Agreement dated as of May 4, 2017 (as amended, restated, amended and restated, modified or otherwise supplemented from time to time prior to the date hereof, the “Credit Agreement”), pursuant to which the Lenders
have, subject to the terms and conditions set forth therein, made certain credit available to and on behalf of the Borrower. 

B.    The Borrower has advised the Administrative Agent and the Lenders that it intends to enter into that certain
Membership Interest Purchase Agreement dated as of March 9, 2018 (the “MIPA”), by and among the Borrower, as seller, Columbus Energy, LLC, a Delaware limited liability company (the “Company”), and
Rio Grande E&P, LLC, a Texas limited liability company, as buyer (the “Buyer”), pursuant to which the Borrower will sell to Buyer all of the issued and outstanding shares of membership interests of the Company. 

C.    The Company is a Loan Party under the Credit Agreement and is a party to certain of the Security Instruments. 

D.    In connection with the MIPA, all of the assets owned by the Company (the “South Texas
Assets”), will be indirectly acquired by the Buyer. 
 E.    The Borrower, the Parent, the Administrative
Agent and the Lenders desire to amend the Credit Agreement to, among other things, (i) modify certain hedging requirements under the Credit Agreement in connection with the indirect sale of the South Texas Assets, and (ii) reflect the
reduction of the Borrowing Base to $430,000,000, in each case to be effective as of the Second Amendment Effective Date unless otherwise specified herein. 

F.    NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1.    Defined Terms. Each capitalized term which is defined in the Credit Agreement, but which is not
defined in this Second Amendment, shall have the meaning ascribed such term in the Credit Agreement, as amended hereby. Unless otherwise indicated, all section and exhibit references in this Second Amendment refer to the respective sections and
exhibits in the Credit Agreement. 

  
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 Section 2.    Amendments to the Credit Agreement. In reliance on
the representations, warranties, covenants and agreements contained in this Second Amendment, and subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, the Credit Agreement shall be amended
effective as of the Second Amendment Effective Date (or, in the case of Section 2.3, effective as of April 30, 2018) in the manner provided in this Section 2. 

2.1    Additional Definitions. Section 1.02 of the Credit Agreement is hereby amended to add thereto in
alphabetical order the following definitions which shall read in full as follows: 
 “First
Amendment” means that certain First Amendment to Amended and Restated Credit Agreement dated as of November 30, 2017, among the Borrower, the Guarantors party thereto, the Administrative Agent and the Lenders party thereto. 

“Second Amendment” means that certain Second Amendment to Amended and Restated Credit Agreement dated
as of May 15, 2018, among the Borrower, the Guarantors party thereto, the Administrative Agent and the Lenders party thereto. 

“South Texas Assets” shall have the meaning given to such term in the Second Amendment. 

2.2    Amended Definition. The definition of “Loan Documents” contained in Section 1.02
of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows: 
 “Loan
Documents” means this Agreement, the First Amendment, the Second Amendment, the Notes, the Letter of Credit Agreements, the Letters of Credit, the Agency Fee Letter, any Subordination Agreement, the Security Instruments and any other
agreement designated as a Loan Document by the Administrative Agent and the Borrower, in each case as such agreements may be amended, modified, supplemented or restated from time to time. 

2.3    Amendment to Section 8.18 of the Credit Agreement. Section 8.18 of the Credit
Agreement is hereby amended and restated in its entirety to read in full as follows: 

Section 8.18    Hedging Requirements. On or prior to April 30, 2018, the Borrower or any
other Loan Party shall enter into Swap Agreements on terms consistent with Section 9.18 with Approved Counterparties to hedge a notional volume of not less than, in the aggregate, 75% of the reasonably anticipated projected
production of Hydrocarbons from Proved Developed Producing Reserves included in the most recent Reserve Report (other than reasonably anticipated production of Hydrocarbons from Proved Developed Producing Reserves comprising the South Texas Assets)
for each calendar month during 2018 and 2019 of crude oil, natural gas and natural gas liquids, (which, in the case of natural gas liquids, may be hedged with Swap Agreements for crude oil), each calculated separately. 

  
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 Section 3.    Borrowing Base Redetermination and Reduction in
Aggregate Elected Commitment Amounts; South Texas Assets Sale. 
 3.1    Borrowing Base Redetermination and
Reduction in Aggregate Elected Commitment Amounts. Effective as of the Second Amendment Effective Date, the Borrowing Base and the Aggregate Elected Commitment Amounts shall each be $430,000,000. Such amounts shall each be automatically reduced
by $5,000,000 on the first day of each calendar month following the Second Amendment Effective Date to and including September 1, 2018, with an additional automatic reduction of $5,000,000 to occur on September 30, 2018. The parties hereto
agree that the reduction in the Borrowing Base effectuated pursuant to this Section 3.1 constitutes the Scheduled Redetermination scheduled for on or about April 1, 2018 for purposes of Section 2.07 of the Credit
Agreement. The next Scheduled Redetermination of the Borrowing Base following the Second Amendment Effective Date is scheduled to occur on or about October 1, 2018 and, notwithstanding the foregoing, the Borrowing Base may be subject to further
adjustments from time to time pursuant to Interim Redeterminations or pursuant to Section 3.2 below or pursuant to Section 2.07(f) or Section 8.13(c) of the Credit Agreement. 

3.2    South Texas Assets Sale. In addition to the reductions to the Borrowing Base and the Aggregate Elected
Commitment Amounts set forth in Section 3.1 above, the Borrowing Base and the Aggregate Elected Commitment Amounts shall each be automatically reduced by $15,000,000 on the date that the indirect sale of the South Texas
Assets is consummated, so long as any such anticipated indirect sale occurs prior to the date that the Scheduled Redetermination of the Borrowing Base scheduled for on or about October 1, 2018 becomes effective (the “Fall 2018
Borrowing Base Effective Date”). It is further agreed that (a) any indirect sale of the South Texas Assets that occurs on or prior to the Fall 2018 Borrowing Base Effective Date shall be excluded from the determination of the
aggregate Borrowing Base Value of Oil and Gas Properties sold in between redeterminations of the Borrowing Base for purposes of Section 2.07(f) of the Credit Agreement, (b) if, in connection with the anticipated indirect sale of the South
Texas Assets, the Loan Parties sell any Oil and Gas Properties other than the assets owned by the Company on the date hereof, such Oil and Gas Properties shall be included in the determination of the aggregate Borrowing Base Value of Oil and Gas
Properties sold in between redeterminations of the Borrowing Base for purposes of Section 2.07(f) of the Credit Agreement and (c) notwithstanding anything to the contrary contained in the Credit Agreement, upon any adjustments to the
Borrowing Base pursuant to the second sentence of Section 3.1 above or pursuant to this Section 3.2, if the Revolving Credit Exposures exceed the Borrowing Base as adjusted, then the Borrower
shall, on the date of any such reduction, (A) prepay the Borrowings in an aggregate principal amount equal to such excess, and (B) if any excess remains after prepaying all of the Borrowings as a result of LC Exposure, pay to the
Administrative Agent on behalf of the Lenders an amount equal to such excess to be held as cash collateral as provided in Section 2.08(j) of the Credit Agreement. 

Section 4.    Conditions Precedent to this Second Amendment. The effectiveness of the amendments to the Credit
Agreement contained in Section 2 hereof is subject to the following: 
 4.1    The
Administrative Agent shall have received counterparts of this Second Amendment from the Loan Parties and the Required Lenders. 

  
 3 

 4.2    All fees and expenses due and owing to Vinson & Elkins L.L.P.
invoiced at least two (2) Business Days prior to the Second Amendment Effective Date shall have been paid or reimbursed by the Borrower. 

4.3    No Default, Event of Default or Borrowing Base Deficiency shall exist immediately prior to or after giving effect to
the amendments to the Credit Agreement contained in Section 2 hereof or the redetermination of the Borrowing Base provided for in Section 3 hereof. 

The Administrative Agent shall notify the Borrower and the Lenders of the effectiveness of this Second Amendment, and such notice shall be
conclusive and binding. 
 Section 5.    Representations and Warranties; Etc. Each Loan Party hereby affirms:
(a) that as of the date hereof, all of the representations and warranties contained in each Loan Document to which such Loan Party is a party are true and correct in all material respects as though made on and as of the date hereof (unless made
as of a specific earlier date, in which case, was true as of such date and except to the extent that any such representation and warranty is qualified by materiality, in which case such representation and warranty shall continue to be true and
correct in all respects), (b) no Default or Event of Default exists under the Loan Documents or will, after giving effect to this Second Amendment, exist under the Loan Documents and (c) no Material Adverse Effect has occurred. 

Section 6.    Miscellaneous. 

6.1    Confirmation and Effect. The provisions of the Credit Agreement (as amended by this Second Amendment) shall
remain in full force and effect in accordance with its terms following the effectiveness of this Second Amendment. Each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”,
or words of like import shall mean and be a reference to the Credit Agreement as amended hereby, and each reference to the Credit Agreement in any other document, instrument or agreement executed and/or delivered in connection with the Credit
Agreement shall mean and be a reference to the Credit Agreement as amended hereby. This Second Amendment is a Loan Document for all purposes under the Loan Documents. 

6.2    Ratification and Affirmation of Loan Parties. Each of the Loan Parties hereby expressly (a) acknowledges
the terms of this Second Amendment, (b) ratifies and affirms its obligations under the Guaranty Agreement and the other Loan Documents to which it is a party, as amended hereby, (c) acknowledges, renews and extends its continued liability
under the Guaranty Agreement and the other Loan Documents to which it is a party, as amended hereby, (d) ratifies and affirms all Liens granted by it pursuant to the Loan Documents to secure the Indebtedness (except to the extent that such
Liens have been released in accordance with the Loan Documents) and (e) agrees that its guarantee under the Guaranty Agreement and the other Loan Documents to which it is a party, as amended hereby, remains in full force and effect with respect
to the Indebtedness. 
 6.3    Counterparts. This Second Amendment may be executed by one or more of the parties
hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this Second Amendment by facsimile or electronic (e.g., pdf) transmission shall be
effective as delivery of a manually executed original counterpart hereof. 

  
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 6.4    No Oral Agreement. THIS WRITTEN
SECOND AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED
IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT BETWEEN THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS,
OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN
ORAL AGREEMENTS BETWEEN THE PARTIES. 

6.5    Governing Law. THIS SECOND AMENDMENT (INCLUDING,
BUT NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK. 
 6.6    Payment of Expenses. The Borrower agrees to
pay or reimburse the Administrative Agent for fees and expenses in connection with this Second Amendment pursuant to the terms and conditions of Section 12.03 of the Credit Agreement. 

6.7    Severability. Any provision of this Second Amendment which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. 
 6.8    Successors and Assigns. This Second
Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 

[Signature pages follow] 
  

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be duly executed
effective as of the date first written above. 
  

							
	BORROWER:	 		 	 AMPLIFY ENERGY OPERATING LLC,
 a
Delaware limited liability company

				
		 		 	By:	 	/s/ Martyn Willsher
		 		 	Name:	 	Martyn Willsher
		 		 	Title:	 	Senior Vice President and Chief Financial Officer
			
	GUARANTORS:	 		 	 AMPLIFY ACQUISITIONCO INC.,
 a
Delaware corporation

				
		 		 	By:	 	/s/ Martyn Willsher
		 		 	Name:	 	Martyn Willsher
		 		 	Title:	 	Senior Vice President and Chief Financial Officer
			
		 		 	 AMPLIFY ENERGY SERVICES LLC,
 a
Delaware limited liability company

				
		 		 	By:	 	/s/ Martyn Willsher
		 		 	Name:	 	Martyn Willsher
		 		 	Title:	 	Senior Vice President and Chief Financial Officer
			
		 		 	 COLUMBUS ENERGY, LLC,
 a Delaware
limited liability company

				
		 		 	By:	 	Amplify Energy Operating LLC, its sole member
				
		 		 	By:	 	/s/ Martyn Willsher
		 		 	Name:	 	Martyn Willsher
		 		 	Title:	 	Senior Vice President and Chief Financial Officer

  
 [SIGNATURE
PAGE TO SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT – 

AMPLIFY ENERGY OPERATING LLC] 

							
		 		 	 BETA OPERATING COMPANY, LLC,
 a
Delaware limited liability company

				
		 		 	By:	 	/s/ Martyn Willsher
		 		 	Name:	 	Martyn Willsher
		 		 	Title:	 	Chief Financial Officer
			
		 		 	 SAN PEDRO BAY PIPELINE COMPANY,
 a
California corporation

				
		 		 	By:	 	/s/ Martyn Willsher
		 		 	Name:	 	Martyn Willsher
		 		 	Title:	 	Chief Financial Officer

  
 [SIGNATURE
PAGE TO SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT – 

AMPLIFY ENERGY OPERATING LLC] 

							
	ADMINISTRATIVE AGENT:	 		 	 WELLS FARGO BANK, NATIONAL

ASSOCIATION, as Administrative Agent, Issuing
 Bank and a
Lender

				
		 		 	By:	 	/s/ Michael Real
		 		 	Name:	 	Michael Real
		 		 	Title:	 	Director

  
 [SIGNATURE
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	JPMORGAN CHASE BANK, N.A., as a Lender
				
		 		 	By:	 	/s/ Theresa M. Benson
		 		 	Name:	 	Theresa M. Benson
		 		 	Title:	 	Authorized Officer

  
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	BANK OF AMERICA, N.A., as a Lender
				
		 		 	By:	 	/s/ Raza Jafferi
		 		 	Name:	 	Raza Jafferi
		 		 	Title:	 	Director

  
 [SIGNATURE
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	CITIBANK, N.A., as a Lender
				
		 		 	By:	 	/s/ Cliff Vaz
		 		 	Name:	 	Cliff Vaz
		 		 	Title:	 	Vice President

  
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	BARCLAYS BANK PLC, as a Lender
				
		 		 	By:	 	/s/ Sydney G. Dennis
		 		 	Name:	 	Sydney G. Dennis
		 		 	Title:	 	Director

  
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	COMPASS BANK, as a Lender
				
		 		 	By:	 	/s/ Rachel Festervand
		 		 	Name:	 	Rachel Festervand
		 		 	Title:	 	Sr. Vice President

  
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	COMERICA BANK, as a Lender
				
		 		 	By:	 	/s/ Gary Culbertson
		 		 	Name:	 	Gary Culbertson
		 		 	Title:	 	Vice President

  
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	 CREDIT AGRICOLE CORPORATE
 AND
INVESTMENT BANK, as a Lender

				
		 		 	By:	 	/s/ Michael Willis
		 		 	Name:	 	Michael Willis
		 		 	Title:	 	Managing Director
				
		 		 	By:	 	/s/ David Gurghigian
		 		 	Name:	 	David Gurghigian
		 		 	Title:	 	Managing Director

  
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	ING CAPITAL, LLC, as a Lender
				
		 		 	By:	 	/s/ Juli Bieser
		 		 	Name:	 	Juli Bieser
		 		 	Title:	 	Managing Director
				
		 		 	By:	 	/s/ Charles Hall
		 		 	Name:	 	Charles Hall
		 		 	Title:	 	Managing Director

  
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	NATIXIS, NEW YORK BRANCH, as a Lender
				
		 		 	By:	 	/s/ Brice Le Foyer
		 		 	Name:	 	Brice Le Foyer
		 		 	Title:	 	Executive Director
				
		 		 	By:	 	/s/ Vikram Nath
		 		 	Name:	 	Vikram Nath
		 		 	Title:	 	Director

  
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	ROYAL BANK OF CANADA, as a Lender
				
		 		 	By:	 	/s/ Kristan Spivey
		 		 	Name:	 	Kristan Spivey
		 		 	Title:	 	Authorized Signatory

  
 [SIGNATURE
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	 U.S. BANK NATIONAL ASSOCIATION,
 as
a Lender

				
		 		 	By:	 	/s/ Heather Han
		 		 	Name:	 	Heather Han
		 		 	Title:	 	Senior Vice President

  
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AMPLIFY ENERGY OPERATING LLC] 

							
	LENDER:	 		 	 CAPITAL ONE, NATIONAL ASSOCIATION,

as a Lender

				
		 		 	By:	 	/s/ Michael Higgins
		 		 	Name:	 	Michael Higgins
		 		 	Title:	 	Sr. Director

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	BMO HARRIS BANK N.A., as a Lender
					
		 		 		 	By:	 	/s/ James V. Ducote
		 		 		 	Name:	 	James V. Ducote
		 		 		 	Title:	 	Managing Director

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	 BRANCH BANKING AND TRUST COMPANY,

as a Lender

					
		 		 		 	By:	 	/s/ Greg Krablin
		 		 		 	Name:	 	Greg Krablin
		 		 		 	Title:	 	Vice President

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	SANTANDER BANK, N.A., as a Lender
					
		 		 		 	By:	 	/s/ Mark Connelly
		 		 		 	Name:	 	Mark Connelly
		 		 		 	Title:	 	SVP
					
		 		 		 	By:	 	/s/ Puiki Lok
		 		 		 	Name:	 	Puiki Lok
		 		 		 	Title:	 	VP

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	CITIZENS BANK, NA., as a Lender
					
		 		 		 	By:	 	/s/ David Baron
		 		 		 	Name:	 	David Baron
		 		 		 	Title:	 	Vice President

  
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	LENDER:	 		 	REGIONS RANK, as a Lender
					
		 		 		 	By:	 	/s/ Daniel G. Steele
		 		 		 	Name:	 	Daniel G. Steele
		 		 		 	Title:	 	Managing Director

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	ASSOCIATED BANK, N.A., as a Lender
					
		 		 		 	By:	 	/s/ Alison K. Tregilgas
		 		 		 	Name:	 	Alison K. Tregilgas
		 		 		 	Title:	 	Senior Vice President

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	CADENCE BANK, N.A., as a Lender
					
		 		 		 	By:	 	/s/ Anthony Blanco
		 		 		 	Name:	 	Anthony Blanco
		 		 		 	Title:	 	SVP

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	ZB, N.A. DBA AMEGY BANK, as a Lender
					
		 		 		 	By:	 	/s/ Sam Trail
		 		 		 	Name:	 	Sam Trail
		 		 		 	Title:	 	Senior Vice President

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	SUNTRUST BANK, as a Lender
					
		 		 		 	By:	 	/s/ Benjamin L. Brown
		 		 		 	Name:	 	Benjamin L. Brown
		 		 		 	Title:	 	Director

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	GOLDMAN SACHS BANK USA, as a Lender
					
		 		 		 	By:	 	/s/ Meghan Sullivan
		 		 		 	Name:	 	Meghan Sullivan
		 		 		 	Title:	 	Authorized Signatory

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	CARGILL, INCORPORATED, as a Lender
					
		 		 		 	By:	 	/s/ Tyler Smith
		 		 		 	Name:	 	Tyler Smith
		 		 		 	Title:	 	Authorized Signer

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	 CANADIAN IMPERIAL BANK OF
 COMMERCE,
NEW YORK BRANCH,
 as a Lender

					
		 		 		 	By:	 	/s/ Trudy Nelson
		 		 		 	Name:	 	Trudy Nelson
		 		 		 	Title:	 	Authorized Signatory
					
		 		 		 	By:	 	/s/ Megan Larson
		 		 		 	Name:	 	Megan Larson
		 		 		 	Title:	 	Authorized Signatory

  
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AMPLIFY ENERGY OPERATING LLC] 

									
	LENDER:	 		 	 UBS AG, STAMFORD BRANCH,
 as a
Lender

					
		 		 		 	By:	 	/s/ Kenneth Chin
		 		 		 	Name:	 	Kenneth Chin
		 		 		 	Title:	 	Director
					
		 		 		 	By:	 	/s/ Craig Pearson
		 		 		 	Name:	 	Craig Pearson
		 		 		 	Title:	 	Associate Director

  
 [SIGNATURE
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AMPLIFY ENERGY OPERATING LLC]Form of Medium-Term Notes, Series S

 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. 95001B3T9
	  	 	FACE AMOUNT: $                  	 
	 REGISTERED NO.       
	  			

 WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES S 

Due Nine Months or More From Date of Issue 

Principal at Risk Securities Linked to the Lowest Performing of the 

S&P 500® Index and the Russell
2000® Index due May 19, 2020 
 WELLS FARGO &
COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value
received, hereby promises to pay to CEDE & Co., or registered assigns, an amount equal to the Maturity Payment Amount (as defined below), 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, on the Stated Maturity Date. The “Initial Stated Maturity Date” shall be May 19, 2020. If the Calculation Day (as defined below) is not postponed, the Initial Stated Maturity Date will be
the “Stated Maturity Date.” If the 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 Calculation Day as postponed. This Security shall not bear any interest. 
 Any payments 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. 

“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.” 

 Determination of Maturity Payment Amount 

The “Maturity Payment Amount” of this Security will equal: 

 

	 	•	 	 if the Ending Level of the Lowest Performing Index is greater than its Starting Level: 

 

															
	Face Amount +  	 	 	 	Face Amount x  	 	 Index Performance of Lowest

Performing Index
	 	  x Upside Participation Rate	 	 	 	 ;	 	

  

	 	•	 	 if the Ending Level of the Lowest Performing Index is less than or equal to its Starting Level, but greater
than or equal to its Threshold Level: 

  

															
	Face Amount +  	 	 	 	Face Amount x  	 	 absolute value of Index

Performance of Lowest

Performing Index
	 	  x Downside Participation Rate	 	 	 	 ; or	 	

  

	 	•	 	 if the Ending Level of the Lowest Performing Index is less than its Threshold Level: 

 

																			
	Face Amount +  	 	 	 	Face Amount x  	 	 	 	 Index Performance of

Lowest Performing Index
	 	  + Buffer Amount	 	 	 	x Multiplier	 	 	 	

 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 S&P
500 Index and the Russell 2000 Index. 
 The “Pricing Date” shall mean May 7, 2018. 

The “Lowest Performing Index” will be the Index with the lowest Index Performance as measured from its
Starting Level to its Ending Level. 
 The “Index Performance” with respect to an Index is the percentage
change from its Starting Level to its Ending Level, measured as follows: 
 Ending Level – Starting Level

 Starting Level 
 If the
Index Performance is equal to -5%, the absolute value of the Index Performance would be +5%. 

The “Buffer Amount” is 21%. 

  
 2 

 The “Multiplier” will be equal to the Starting Level of the
Lowest Performing Index divided by its Threshold Level. 
 The “Starting Level” with respect to the S&P
500 Index is 2672.63, its Closing Level on the Pricing Date and with respect to the Russell 2000 Index is 1578.948, its Closing Level on the Pricing Date. 

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

The “Threshold Level” with respect to the S&P 500 Index is 2111.3777, which is equal to 79% of its
Starting Level and with respect to the Russell 2000 Index is 1247.36892, which is equal to 79% of its Starting Level. 
 The
“Upside Participation Rate” is 100%. 
 The “Downside Participation Rate” is 15%. 

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 Day” shall be May 7, 2020. If such day is not a Trading Day with respect to either
Index, the Calculation Day for each Index will be postponed to the next succeeding day that is a Trading Day with respect to each Index. The 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. If a Market Disruption Event occurs or is continuing with respect to an Index on the Calculation Day, then the 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 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 the 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 

  
 3 

 
the value of such security at 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) 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 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. Notwithstanding the postponement of the Calculation Day for one Index due
to a Market Disruption Event with respect to such Index on the Calculation Day, the originally scheduled Calculation Day will remain the Calculation Day for the other Index if such other Index is not affected by a Market Disruption Event on such
day. 
 “Calculation Agent Agreement” shall mean the Calculation Agent Agreement dated as of
January 24, 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, the determination of the Maturity Payment Amount, which term shall, unless the context otherwise
requires, include its successors under such Calculation Agent Agreement. The initial Calculation Agent shall be Wells Fargo Securities, LLC. Pursuant to the Calculation Agent Agreement, the Company may appoint a different Calculation Agent from time
to time after the initial issuance of this Security without the consent of the Holder of this Security and without notifying the Holder of this Security. 

Certain Definitions 
 A
“Trading Day” with respect to an 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. 

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

  
 4 

 
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 and calculate the Ending Level of such Index as described above. 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, the
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 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 the 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 Day” shall apply in lieu of the foregoing.

 Market Disruption Events 

A “Market Disruption Event” with respect to an 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 

  
 5 

	 	 
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. 

  

	 	(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. 

  
 6 

 For purposes of determining whether a Market Disruption Event has occurred with
respect to an 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 

  

	 	(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. 

Calculation Agent 

The Calculation Agent will determine the Maturity Payment Amount. 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 or non-Trading Day has occurred. 

  
 7 

 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. 

Tax Considerations 

The Company agrees, and by acceptance of a beneficial ownership interest in this Security each Holder of this Security will be
deemed to have agreed (in the absence of a statutory, regulatory, administrative or judicial ruling to the contrary), for United States federal income tax purposes to characterize and treat this Security as a prepaid derivative contract that is an
“open transaction.” 
 Redemption and Repayment 

This Security is not subject to redemption at the option of the Company or repayment at the option of the Holder hereof prior
to May 19, 2020. 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 sentence) of this Security may be declared due and payable in the manner and with the effect provided in the Indenture. The amount payable to the Holder hereof upon any acceleration permitted under
the Indenture will be equal to the Maturity Payment Amount hereof calculated as provided herein as though the date of acceleration was the Calculation Day. 
  

 

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] 

  
 8 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.

DATED:                         
      
  

					
	WELLS FARGO & COMPANY
		
	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

  
 9 

 [Reverse of Note] 

WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES S 

Due Nine Months or More From Date of Issue 

Principal at Risk Securities Linked to the Lowest Performing of the 

S&P 500® Index and the Russell
2000® Index due May 19, 2020 
 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 February 21, 2017, as amended or supplemented from time to time
(herein called the “Indenture”), between the Company and Citibank, N.A., as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities
are, and are to be, authenticated and delivered. This Security is one of the series of the Securities designated as Medium-Term Notes, Series S, 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. 
 Modification and Waivers 

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

  
 10 

 
behalf of the Holders of all Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain past defaults under the Indenture and their consequences
may be waived under the Indenture by the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series. Solely for the purpose of determining whether any
consent, waiver, notice or other action or Act to be taken or given by the Holders of Securities pursuant to the Indenture has been given or taken by the Holders of Outstanding Securities in the requisite aggregate principal amount, the principal
amount of this Security will be deemed to be equal to the amount set forth on the face hereof as the “Face Amount” hereof. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon
all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

Defeasance 

Section 403 and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the
Indenture, relating to defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants, upon compliance by the Company with certain conditions set forth therein, shall not apply to this
Security. The remaining provisions of Section 401 of the Indenture shall apply to this Security. 
 Authorized Denominations 

This Security is issuable only in registered form without coupons in denominations of $1,000 or any amount in excess thereof
which is an integral multiple of $1,000. 
 Registration of Transfer 

Upon due presentment for registration of transfer of this Security at the office or agency of the Company in the City of
Minneapolis, Minnesota, a new Security or Securities of this series, with the same terms as this Security, in authorized denominations for an equal aggregate Face Amount will be issued to the transferee in exchange herefor, as provided in the
Indenture and subject to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental charge imposed in connection therewith. 

This Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the
Company that it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not
appointed within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form
and notifies the Trustee thereof or (z) an Event of Default with respect to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for
definitive Securities in registered form, having the same date of issuance, Stated Maturity Date and other terms and of authorized denominations aggregating a like amount. 

  
 11 

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

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company
or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 Obligation of the Company Absolute 

No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the Maturity Payment Amount at the times, place and rate, and in the coin or currency, herein prescribed, except as otherwise provided in this Security. 

No Personal Recourse 

No recourse shall be had for the payment of the Maturity Payment Amount or for any claim based hereon, or otherwise in respect
hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether by virtue of
any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released.

 Defined Terms 

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

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

  
 12 

 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)

  
 13 

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

			
		
	Dated:	 	 
		 	

 
	
	
	 
	
	 

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

  
 14

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