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. 95001B6F6
	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, the Russell 2000® Index and

the EURO STOXX 50® Index due August 25, 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) on the Stated Maturity Date (as defined below), unless this Security is automatically called prior to
the Stated Maturity Date as provided below under “Automatic Call,” 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 Call Settlement Date (as
defined below), if any. The “Initial Stated Maturity Date” shall be August 25, 2020. 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.”

    	 	 	 

    	 

    

Automatic
Call

If
the Closing Level (as defined below) of the Lowest Performing Index (as defined below) on any of the quarterly Calculation Days
(as defined below) from February 2019 to May 2020, inclusive, is greater than or equal to its Starting Level (as defined below),
this Security will be automatically called by the Company, and on the related Call Settlement Date the Holder hereof will receive
the Call Price (as defined below) plus a final Contingent Coupon Payment. Unless the Company defaults in the payment of the Call
Price plus the final Contingent Coupon Payment, this Security will cease to be outstanding on such Call Settlement 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 Call Settlement Date. The Holder hereof will not receive any notice from the Company in the event this Security is
automatically called pursuant to the terms hereof. The “Call Price” is equal to the Face Amount of this Security.
The “Call Settlement Date” for a Calculation Day shall be three Business Days after such Calculation Day, as
such Calculation Day may be postponed as provided herein. If a Calculation Day is postponed with respect to one or more Indices,
the related Call Settlement Date will be three Business Days after the last Calculation Day as postponed.

Payment
of Contingent Coupon Payments, the Maturity Payment Amount and the Call Price

On each quarterly Contingent Coupon Payment Date, the Company shall pay a Contingent Coupon Payment if, and only if, the Closing
Level of the Lowest Performing Index on the related Calculation Day is greater than or equal to its Threshold Level (as defined
below). A “Contingent Coupon Payment,” if payable as provided herein, shall be equal to the product of (i) the Face Amount of this Security, (ii) the Contingent Coupon Rate, and (iii) 90/360. 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 8.50% per annum. Any Contingent Coupon
Payments will be rounded to the nearest cent, with one-half cent rounded upward.

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

    	 	2	 

     

    

inconsistent
with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as
may be required by such exchange, all as more fully provided in the Indenture.

Payment
of 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 Call 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 Call 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 Call Price and Contingent Coupon Payments

If
this Security is not automatically called prior to the Stated Maturity Date as provided above under “Automatic Call,”
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
Threshold Level: the Face Amount; or

 

●

if
the Ending Level of the Lowest Performing Index on the Final Calculation Day is less than its 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 S&P 500 Index, the Russell 2000 Index and the EURO STOXX 50 Index.

The
“Pricing Date” shall mean August 20, 2018.

    	 	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 as provided herein).

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 S&P 500 Index is 2857.05, its Closing Level on the Pricing Date, with
respect to the Russell 2000 Index is 1698.693, its Closing Level on the Pricing Date, and with respect to the EURO STOXX 50 Index
is 3393.67, its Closing Level on the Pricing Date.

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

The
“Threshold Level” with respect to the S&P 500 Index is 2142.7875, which is equal to 75% of its Starting
Level, with respect to the Russell 2000 Index is 1274.01975, which is equal to 75% of its Starting Level, and with respect to
the EURO STOXX 50 Index is 2545.2525, which is equal to 75% 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 20th day of each February, May, August and November, commencing
November 2018 and ending May 2020, 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 August 20, 2020.
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 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

    	 	4	 

     

    

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 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 whether this Security will be automatically called prior to stated maturity and whether a Contingent
Coupon Payment will be made, the Call 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 publish the level of the EURO STOXX 50 Index and (ii) each Related
Futures or Options Exchange is scheduled to be open for trading for its regular trading session.

    	 	5	 

     

    

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 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.

    	 	6	 

     

    

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.

 

(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

    	 	7	 

     

    

 

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

 

(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

    	 	8	 

     

    

 

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;

●

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

    	 	9	 

     

    

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.

 

Calculation
Agent

The
Calculation Agent will determine whether this Security will be automatically called prior to stated maturity and whether a Contingent
Coupon Payment will be made, the Call 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

    	 	10	 

     

    

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 August 25, 2020. Except as set forth above under
“Automatic Call,” this Security is not subject to redemption prior to August 25, 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 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.

 

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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 & 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	 

 

 

    	 	12	 

     

    

 

[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, the Russell 2000® Index and

the EURO STOXX 50® Index due August 25, 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

    	 	13	 

     

    

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

Defeasance

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

Authorized
Denominations

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

Registration
of Transfer

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

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

    	 	14	 

     

    

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

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

Obligation
of the Company Absolute

No
reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the Contingent Coupon Payments, if any, and the Maturity Payment Amount or
the Call 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 Call 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, whether by virtue of any constitution, statute or rule of law, or by the enforcement
of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration
for the issuance hereof, expressly waived and released.

Defined
Terms

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

Governing
Law

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

    	 	15	 

     

    

ABBREVIATIONS

 

 

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

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

 

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

 

Under Uniform Gifts to Minors Act

 

 

	(State)	 

 

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

 

FOR VALUE RECEIVED,
the undersigned hereby sell(s) and transfer(s) unto

 

Please Insert Social Security or

Other Identifying Number of Assignee

 

	 	 

 

 

	 
	 
	 

 (Please
print or type name and address including postal zip code of Assignee)

 

 

    	 	16	 

     

    

 

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

 

 

Dated:
_________________________

 

	 	 
	 	 
	 	 
	 	 

 

 

 

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

 

   

 

    	 	17ex_122638.htm

Exhibit 10.1

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

 

This Executive Employment Agreement (the “Agreement”) is made and entered into as of August 16, 2018 (the “Effective Date”), by and between Gregg Budoi (the “Executive”) and McorpCX, Inc. (the “Company” and together with the Executive, the “Parties”).

 

The Company desires the employment of the Executive with the Company and Executive desires to engage in such employment relationship, on the basis of the mutual covenants set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.     Duties and Scope of Employment. The Company shall employ Executive in the position of Interim President and Chief Executive Officer and Executive accepts such employment, on the terms and conditions set forth in this Agreement. Executive agrees to undertake and perform all duties required as Interim President and Chief Executive Officer as may from time-to-time reasonably be determined and assigned to him by the Company’s Board of Directors (the “Board”), which includes the general supervision, management, organization, administration and operation of the Company and its subsidiaries in the ordinary course of business, the development and implementation of the Company’s strategic goals, and the specific duties outlined in Schedule A attached hereto. The Board shall have the right to revise such duties and responsibilities from time to time, as they deem necessary or appropriate. Executive shall perform the duties and responsibilities assigned to him faithfully, diligently, professionally, and in the best interests of the Company. Executive shall at all time perform such duties in compliance with any and all laws, rules, regulations, and policies applicable to the Company of which Executive is aware. Executive shall also adhere to and obey all written rules and policies governing the conduct of the Company’s employees as may be established and modified from time-to-time. It is understood by the Parties that the Executive will be serving as the Company’s President and Chief Executive Officer on an interim basis in order to lead the Company through an evaluation of strategic options.    

 

2.     Executive Services. During Executive’s employment with the Company, Executive agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior approval of the Board; provided, however, that Executive may engage in non-competitive business or charitable activities so long as such activities do not materially interfere with Executive’s responsibilities to the Company. Any board of director positions with other business or charitable entities entered into after the Effective Date shall be subject to the prior approval of the Board. It is understood that Executive may continue his role as an advisory board member and consultant for each of Lariat Partners LP and Offen Petroleum LLC so long as this does not restrict Executive’s ability to perform his duties outlined on Schedule A.

 

3.     Employment Term. Unless otherwise terminated earlier as provided in Section 5, Executive’s employment with the Company pursuant to this Agreement shall commence on the Effective Date and shall continue until October 31, 2018 (the “Initial Term”), provided that this Agreement shall automatically renew for successive one-month periods unless either the Company or the Executive provide written notice to the other of its intention not to renew the Agreement at least ten (10) days prior to the end of any monthly term (each such additional month being an “Extended Term”, and collectively with the Initial Term being the “Employment Term”).

 

 

 

 

4.     Compensation and Benefits.

 

(a)     Base Salary. The Company shall pay Executive as compensation for Executive’s services an annualized base salary of $204,000 (Two Hundred and Four Thousand)subject to an adjustment to $300,000 (Three Hundred Thousand) per annum upon the occurrence of any of the following: (i) the Company raises an aggregate of at least $5,000,000 in connection with new issuance of any form of equity securities, including but not limited to classes of common equity shares, preferred stock or convertible bonds or warrants associated with debt in the capital of the Company, or (ii) the acquisition of another company with revenues over the twelve calendar months immediately prior to such acquisition that when combined with the Company’s revenues over that same twelve calendar month period equals $5,000,000 or more on an annualized pro forma basis. Such salary shall be subject to applicable tax withholding and shall be paid periodically in accordance with normal Company payroll practices. The base salary may be increased, but not decreased pursuant to annual review by the Compensation Committee of the Board in accordance with this Agreement. Executive shall also be entitled to indemnification from the Company for claims asserted against Executive in connection with Executive’s performance of his duties hereunder and shall be covered under the officer and director liability policy maintained by the Company.

 

(b)     First Year Bonus. Executive will be entitled to receive a one-time signing bonus of One Hundred Thousand Dollar ($100,000.00), subject to applicable tax withholding and paid at the time of Executive’s first regularly scheduled paycheck after the one or two year anniversary of the Effective Date in accordance with normal Company payroll practices, without regard to any waiting period applicable to bonuses granted to Company employees, if prior to the one year anniversary of the Effective Date, any of the following events occur: (i) the Company raises an aggregate of at least $5,000,000 in connection with new issuance of any form of equity securities, including but not limited to classes of common equity shares, preferred stock or convertible bonds or warrants associated with debt in the capital of the Company, (ii) the acquisition of another company with revenues over the twelve calendar months immediately prior to such acquisition that when combined with the Company’s revenues over that same twelve calendar month period equals $5,000,000 or more on an annualized pro forma basis, or (iii) the Board determines that the Executive has successfully executed a strategic plan developed by the Board, which includes, amongst other corporate actions, the completion by the Company of a material acquisition and/or disposition of assets or business operations in a transaction approved by the Board and the Company’s shareholders, as needed.  

 

(c)     Benefits. Executive shall be eligible to participate in the employee benefit plans (“Plans”) that are available or may become available to other employees of the Company. The adoption and maintenance of such Plans are to be at the discretion of the Company, subject in each case to the generally applicable terms and conditions of the Plan or applicable program and to the determination of any committee administering such Plan or program. Employee may work remotely up to one hundred percent (100%) of his time providing it does not interfere with the goals and objectives of the Company. To the extent adopted and maintained by the Company, such benefits shall include participation in the Company’s group medical, life, disability, and retirement plans, and any supplemental plans available to senior executives of the Company from time to time. Executive will accrue one day of sick leave per month, for a total of twelve (12) sick days per year. Executive also will be entitled to accrue paid vacation time of four (4) weeks each calendar year, in accordance with the Company’s vacation policy, with the timing and duration of specific vacations mutually and reasonably agreed to by the Parties. Executive may accrue a maximum of four (4) weeks of vacation pay each calendar year and, once the maximum is reached, Executive will not accrue any additional vacation time until the total accrued vacation falls below the maximum, at which point Executive will begin to accrue additional vacation time. The Company reserves the right to change or terminate its employee benefit plans and programs at any time pursuant to any notice provisions in such plans. To the extent that the Company cannot administer a health plan (medical, vision and dental), then the Company shall reimburse the Employee for 80% of the amount of medical insurance premiums that the Employee would need to pay to cover himself and his family.

 

2

 

 

(d)     Relocation Benefits. No relocation benefits will be paid under this Agreement.

 

(e)    Business Expenses. The Company will reimburse Executive for reasonable business expenses incurred by Executive in the furtherance of or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time.

 

(f)      Stock Options/Equity Awards. Subject to Board approval, availability under the Company’s Amended and Restated Stock Option Plan (the “Option Plan”) or any successor equity incentive plan, and any required shareholder approval or approval of the TSX Venture Exchange (which the Company shall use its best efforts to obtain, if needed), the Company will, (i) within four (4) business days of the Effective Date, grant the Executive stock options (“Stock Options”) exercisable into three hundred thousand (300,000) shares of the Company’s common stock pursuant to the terms of the Option Plan, The exercise price of all the Stock Options granted to the Executive will be the fair market value of the Company common stock as of the date of the grant of such Stock Options as determined by the Board consistent with the requirements of Internal Revenue Code of 1986, as amended (“IRC “) Sec. 409A and other applicable statutes. All Stock Options shall be subject to a three (3) year vesting period, with one third of the Stock Options vesting on the one-year anniversary of the grant date of the Stock Options (the “Grant Date”), an additional one-third of the Stock Options vesting on the two year anniversary of the Grant Date, and the remaining one third of the Stock Options vesting on the three year anniversary of the Grant Date; provided that if the Executive’s employment with the Company is terminated by the Company without Cause, or by the Executive with Good Reason (where no Change in Control has taken place), the number of Stock Options subject to vesting through the twelve months (12) following the date of termination of employment (the “Termination Date”) shall become vested as of the Termination Date, while all remaining unvested Stock Options shall be forfeited. All unvested Stock Options also shall be forfeited upon a termination of employment by the Company for Cause or a termination by Executive without Good Reason. If a Change in Control has taken place, all unvested Stock Options shall become immediately vested as of the effective date of the Change in Control.

 

3

 

 

5.     Termination of Employment.

 

(a)         Termination by Company for Cause; Voluntary Termination. Either Party shall have the right to terminate this Agreement in the manner set forth in this Agreement. In the event Executive’s employment with the Company is terminated for “Cause” (as defined below) by the Company or voluntarily by Executive (i) the Company shall pay Executive any unpaid base salary due for periods prior to the Termination Date; (ii) the Company shall pay Executive all of Executive’s accrued and unused vacation through the Termination Date; and (iii) following submission of proper expense reports by Executive, the Company shall reimburse Executive for all expenses reasonably and necessarily incurred by Executive in connection with the business of the Company prior to termination. These payments shall be made promptly upon termination and within the Company’s next regularly scheduled payroll. 

 

(b)     Termination by Company without Cause. The Company may terminate Executive’s employment without Cause upon thirty (30) days written notice to Executive. If Executive’s employment with the Company terminates other than voluntarily by Executive or for Cause, and Executive signs and does not revoke a Release as defined below, then, subject to Executive’s compliance with Section 7, Executive shall be entitled to:

 

(i)     Receive severance pay (less applicable withholding taxes) at a rate equal to his base salary, as then in effect, for a period of 90 days from the date of such termination, to be paid either periodically in accordance with the Company’s normal payroll policies or in a lump sum payable within thirty (30) days of the Termination Date, at the Executive’s election, as long as such severance payment is made in compliance with Sections 16(j) and (k). No severance payment will be made which is not compliant with IRC Section 409A and IRC Section 280G.

 

(ii)     Continuation of certain legally-allowed health (i.e., medical, vision and dental) coverage and benefits as in effect for the Executive on the day immediately preceding the day of the Executive’s termination of employment; provided, however, that (a) the Executive constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the IRC; and (b) Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA. The Company shall continue to provide Executive with Company-paid health coverage until the earlier of (i) the date Executive is no longer eligible to receive continuation coverage pursuant to COBRA, or (ii) three (3) months from the Termination Date and Executive shall pay the same contribution for the COBRA coverage as of the time of termination and the Company shall subsidize the balance of the premiums.

 

(iii)     Any Stock Options subject to vesting through the twelve (12) month period following the Termination Date shall become vested as of the Termination Date, while all remaining unvested Stock Options shall be forfeited.

 

Notwithstanding the foregoing, if Executive is terminated by the Company for failure to meet the expectations of the Board concerning the performance of the Executive’s duties outlined in this Agreement, but in the determination of the Board the Executive has made a good faith effort to perform such duties and has not taken any action or made any omission that would otherwise fall under the definition of “Cause” under Section 13(a)(i)-(iv) below, then the severance pay outlined in (i) through (iii) herein above shall be limited to three (3) months.

 

4

 

 

(c)     Death. In the event of Executive’s death while employed hereunder, Executive’s beneficiary (or such other person(s) specified by will or the laws of descent and distribution) will receive (i) continuing payments of severance pay (less applicable withholding taxes) at a rate equal to Executive’s base salary for a period of ninety (90) days from Executive’s death, to be paid periodically in accordance with the Company’s normal payroll policies, (ii) Company-paid COBRA benefits as specified in Section 5(b)(ii) above for ninety (90) days from Executive’s death, and (iii) subject to the terms of the Option Plan, have the right to exercise the vested Stock Options under the Option Plan which are vested as of the date of Executive’s death for one (1) year following Executive’s death.

 

(d)     Disability. In the event of Executive’s termination of employment with the Company due to “Disability” (as defined herein), Executive shall be entitled to continuing payments of base salary (less applicable withholding taxes) until Executive is eligible for long-term disability payments under the Company’s group disability policy; provided, however, that in no event shall such period of continued base salary exceed 90 days following termination.

 

(e)     Termination by Executive for Good Reason. If Executive terminates employment with the Company for “Good Reason” (as defined herein) within thirty (30) days of a Good Reason event, and Executive signs and does not revoke a mutual Release, then, subject to Executive’s compliance with the applicable terms of this Agreement, Executive shall be entitled to the same benefits that he would receive in Section 5(b) above.

 

(f)     Specified Employee. Notwithstanding any other provision in this Agreement to the contrary, if Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under IRC Section 409A(a)(2)(B), then with regard to any payment that is considered deferred compensation under IRC Section 409A payable on account of a “separation from service” (as defined for purposes of IRC Section 409A and corresponding regulations), such payment shall be made on the date which is the earlier of the following: (i) the expiration of the six (6)-month period measured from the date of such “separation from service” of Executive, and (ii) the eighteen (18)-month anniversary of the date of this Amendment (the “Delay Period”), to the extent required under IRC Section 409A. Upon the expiration of the Delay Period, all payments delayed pursuant to this Section 5(f) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid to Executive in a lump sum, without interest, and all remaining payments due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein.

 

5

 

 

6.     No Impediment to Agreement. Unless otherwise approved by the Board under Section 2 above, Executive hereby represents to the Company that Executive is not, as of the date hereof, and will not be during Executive’s employment with the Company, employed under contract, oral or written, by any other person, firm or entity, and is not and will not be bound by the provisions of any restrictive covenant or confidentiality agreement which would constitute an impediment to, or restriction upon, Executive’s ability to enter this Agreement and to perform the duties of Executive’s employment. It is understood that Executive may continue his role as an advisory board member and consultant for Lariat Partners LP and Offen Petroleum LLC so long as this does not restrict Executive’s ability to perform his duties outlined on Schedule A.

 

7.    Assignment of Inventions and Confidentiality Agreement. Executive acknowledges that by reason of his employment, he will have access to the Company’s trade secrets, confidential and proprietary information, including but not limited to: confidential processes and technology, long range plans, marketing plans, supplier relationships, contract terms, compensation information, membership and customer data, financial information, pricing and costs information. Executive agrees, as a condition to Executive’s employment with the Company and the effectiveness of this Agreement, to execute the Company’s form of Intellectual Property Agreement attached hereto as Exhibit A; provided, however, to the extent there is any inconsistency between such agreement and this Agreement, this Agreement shall control.

 

8.    Injunction. Executive agrees that an injunction may be granted by the Superior Court of San Francisco, California, or by any other court or courts having jurisdiction, restraining him from violation of the terms of this Agreement, upon any breach or threatened breach. This shall not limit Company from any other relief or damages to which it may be entitled as a result of Executive’s breach of this Agreement.

 

9.    Alternative Dispute Resolution. Except in connection with an event subsequent to a Change in Control of the Company, in which case Executive is not required to offer to engage in formal mediation prior to filing any action or claim against the Company, Executive agrees that prior to filing any action or claim against Company, or any of its respective employees, he will offer to engage in formal mediation to resolve any disputes that may arise between Executive or the Company regarding Executive’s employment, the termination of employment, and/or this Agreement. Each party shall bear its own costs of mediation.

 

10.   Arbitration.

 

(a)     Any disputes, controversies or claims arising under or in connection with this Agreement (except disputes, controversies or claims arising after the occurrence of a Change in Control of the Company, in which case the provisions of this Section 10 will be in applicable) for that the parties cannot resolve themselves, including disputes, controversies or claims pertaining to the general application, validity, construction, interpretation or enforceability of this Agreement and including any dispute relating to Executive’s employment or termination of employment (collectively, “Disputes”), will be settled exclusively by final and binding arbitration, before a single arbitrator, under the provisions the Federal Arbitration Act, and in accordance with the employment rules and procedures of the American Arbitration Association or, if the parties agree, the Judicial Arbitration and Mediation Service (“JAMS”). The term Disputes includes any claims based on violation of Law, such as claims for discrimination or civil rights violations under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the California Fair Employment and Housing Act, the California Labor Code, or similar statutes. The term Disputes excludes (a) claims for workers’ compensation, unemployment insurance and any matter within the jurisdiction of the California Labor Commissioner or equivalent state agency with jurisdiction over wage claims, (b) any breach or alleged breach of Section 5, and (c) any request for equitable relief, including injunctive relief. Except as provided in this section, arbitration will be the exclusive method of resolving any Dispute, and both the Company and Executive are giving up any right they may otherwise have to a judge or jury deciding such Dispute.

 

6

 

 

(b)     The arbitration will provide for (i) reasonable written discovery and depositions as provided by the California Code of Civil Procedure and (ii) a written decision by the arbitrator that includes the essential findings and conclusions upon which the decision is based. The Company will be responsible for payment of the tribunal costs relating to such arbitration; except in such Disputes where Executive asserts a claim under a state or federal statute prohibiting discrimination in employment or similar statutory, constitutional or public policy claim, or unless required otherwise by applicable Law (“Statutory Claim”). In Disputes where Executive asserts a Statutory claim, Executive will be required to pay only the initial filing fee to the extent such filing fee does not exceed the fee to file a complaint in state or federal court. The Company will pay the balance of the arbitrator’s fees and administrative costs. Each party will separately pay for its respective attorneys’ fees and expenses; provided, however, that the Arbitrator may award attorneys’ fees and costs to the prevailing party as allowed by law. All rights, causes of action, remedies and defenses available under California and federal law and equity are available to the parties hereto, and will be applicable as though in a court of law, including the right to file a motion for summary judgment. Any competent court having jurisdiction thereof may enter judgment upon any award rendered by the arbitrator.

 

(c)     This agreement to resolve any Disputes by binding arbitration will extend to claims against any Affiliate of a party, and, when acting within such capacity, any officer, director, shareholder, employee or agent of a party, or of any of the above, and will apply as well to claims arising out of state and federal statutes and local ordinances as well as to claims arising under the common law. The remedial authority of the arbitrator will be the same as, but no greater than, what would be the remedial power of a court having jurisdiction over the parties and their Dispute. This mutual arbitration agreement does not prohibit or limit either Executive or the Company’s right to seek equitable relief from a court including injunctive relief, a temporary restraining order, or other interim or conservatory relief, pending the resolution of a Dispute by arbitration.

 

(d)     The arbitrator will render an award and written opinion, and the award will be final and binding upon the parties. If any of the provisions of this Section are determined to be unlawful or otherwise unenforceable, in whole or in part, such determination will not affect the validity of the remainder of this Section or this Agreement, and this Section and this Agreement will be reformed to the extent necessary to carry out the provisions of this Section to the greatest extent possible and to ensure that the resolution of all Disputes between the parties, including those arising out of statutory claims, will be resolved by neutral, binding arbitration. If a court should find that this section’s arbitration provisions are not absolutely binding, then the parties intend any arbitration decision and award to be fully admissible in evidence in any subsequent action, given great weight by any finder of fact, and treated as determinative to the maximum extent permitted by law.

 

(e)     Unless mutually agreed by the parties, arbitration will take place in San Francisco, CA.

 

7

 

 

(f)     If a party institutes any legal action or administrative proceeding against the other with respect to any claim waived by this Agreement or pursue any arbitrable dispute by any method other than arbitration, the responding party will recover from the initiating party all damages, costs, expenses and attorneys’ fees incurred as a result of such action.

 

(g)     This Section 10 shall not be applicable in connection with any disputes, controversies or claims arising under or in connection with this Agreement that arise or occur after the occurrence of a Change in Control of the Company, and that none of the Parties are bound by this Section 10 in the event of a Change in Control of the Company.

 

11.   Non-Disparagement. Executive will not, directly or indirectly, make any disparaging, derogatory, negative or knowingly false statement about the Company or its equity holders, control persons, agents, successors and permitted assigns or any of their respective businesses, operations, financial condition or prospects, except as required by applicable law or order or as required in filing a charge with a government agency or complying with its investigation. This section will not prevent either party from making truthful statements in any judicial or governmental proceeding to enforce this Agreement or otherwise pursuant to legally compelled testimony.

 

12.   Fees. The prevailing party shall be entitled to its costs and attorney’s fees incurred in any litigation relating to the interpretation or enforcement of this Agreement, provided that a party’s right to fees and costs in connection with a wage or other statutory employment claim shall be governed exclusively by applicable state or federal law.

 

13.   Definitions.

 

(a)     Cause. For purposes of this Agreement, “Cause” is defined as any of the following: (i) fraud, illegal conduct, misappropriation or embezzlement on the part of Executive which results in material loss, damage or injury to the Company, (ii) a material breach of this Agreement (including any documents incorporated herein by reference) by Executive, (iii) Executive’s conviction of, or plea of guilty or nolo contendere to, a felony or crime involving moral turpitude, or (iv) conduct by Executive which constitutes willful, wanton or grossly negligent neglect of duties. Conduct will not be willful or grossly negligent if done, or not done, by Executive in good faith and with reasonable belief that action or omission was in the best interest of the Company. Any termination for “Cause” hereunder must be determined by a vote of the Board, with Executive first having been given specific written explanation of the basis for the “Cause” determination and an opportunity to appear before the Board prior to final Board action. If the Company wishes to terminate Executive’s employment for Cause, it shall first give Executive thirty (30) days prior written notice of the circumstances constituting Cause and an opportunity to cure unless the circumstances are not subject to being cured.

 

8

 

 

(b)     Change in Control. For purposes of this Agreement, Change in Control” is defined as the occurrence of any of the following events: (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended, the “Exchange Act”) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the total voting power represented by the Company’s then-outstanding voting securities; provided, however, that for purposes of this subclause (i) the acquisition of additional securities by any one Person who is considered to own more than fifty percent (50%) of the total voting power of the securities of the Company will not be considered a Corporate Transaction; (ii) the consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets (except for a sale or disposition of such assets to a subsidiary of the Company) ; (iii) the consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation; (iv) any other transaction which qualifies as a “corporate transaction” under Section 424(a) of the IRC wherein the stockholders of the Company give up all of their equity interest in the Company (except for the acquisition, sale or transfer of all or substantially all of the outstanding shares of the Company) or (v) a change in the effective control of the Company that occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by members of the Board whose appointment or election is not endorsed by as majority of the members of the Board prior to the date of the appointment or election. Notwithstanding the foregoing, a transaction will not be deemed a Corporate Transaction unless the transaction qualifies as a change in control event within the meaning of IRC Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time.

 

(c)     Disability. For purposes of this Agreement, “Disability” is defined as Executive’s inability to perform his essential employment duties with or without reasonable accommodation, for 180 days (in the aggregate) in any one-year period as determined by concurrence of Executive’s attending physician and an independent physician selected by the Company, and failing concurrence of such physicians, then by an independent physician which they together select.

 

(d)     Good Reason. For purposes of this Agreement, “Good Reason” is defined as the occurrence of any of the following: (i) A material breach of this Agreement by the Company; (ii) Executive is no longer holding the position of Chief Executive Officer of the Company and member of the Board of Directors or has a material reduction in position, status, duties or responsibilities, or is assigned duties materially inconsistent with his position, which shall include any assignment to an affiliate under Section 16(h) below that results in Executive reporting to someone other than the Board, or any new parent company, or no longer having the role as Chief Executive Officer of the resulting parent company; (iii) Executive’s compensation, outlined in article 4 above, is reduced, to include a commensurate level of participation in the Company’s then available incentive stock plan as that of this Agreement date, (iv) the Company experiences a Change in Control, and/or (v) the Executive is no longer permitted to work remotely and is required to relocate his residence more than sixty (60) miles from Cleveland, Ohio. If the Executive wishes to terminate his employment for Good Reason, it shall first give Company twenty-five (25) days prior written notice of the circumstances constituting Good Reason and an opportunity to cure unless the circumstances are not subject to being cured.

 

9

 

 

(e)     Release. For purposes of this Agreement, “Release” is defined as a full and complete release of all claims of Executive against the Company, known or unknown on the date of its execution, in form and substance acceptable to the Company.

 

14.   Successors; Personal Services. The services and duties to be performed by the Executive hereunder are personal and may not be assigned or delegated. This Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and the Executive, the Executive’s heirs and representatives.

 

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

 

16.   Miscellaneous Provisions.

 

(a)     Waiver. No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Executive and by an authorized officer of the Company (other than the Executive). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

 

(b)    Entire Agreement. This Agreement, the related Notice of Restricted Stock Unit Award and Restricted Stock Unit Agreement, and the Company’s Intellectual Property Agreement, shall supersede and replace all prior agreements or understandings relating to the subject matter hereof (including, but not limited to the consulting agreement dated [ ] between the Company and the Executive), and no agreement, representations or understandings (whether oral or written or whether express or implied) which are not expressly set forth in this Agreement have been made or entered into by either party with respect to the relevant matter hereof. In the event of any conflict between this Agreement and any of the 2018 Plan, the Notice of Restricted Stock Unit Award, Restricted Stock Unit Agreement or Intellectual Property Agreement, the terms of this Agreement shall prevail.

 

(c)     Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the internal substantive laws of the State of California without reference to any choice of law rules. The parties expressly stipulate that any litigation under this Agreement shall be brought in the state courts of San Francisco County, California or in the United States District Court for the Northern District of California in San Francisco, California. The parties agree to submit to the jurisdiction and venue of these courts.

 

(d)    Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect.

 

10

 

 

(e)    No Assignment of Benefits. The rights of any person to payments or benefits under this Agreement shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection shall be void.

 

(f)     No Duty to Mitigate. Executive shall not be required to mitigate the amount of any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings that Executive may receive from any other source.

 

(g)     Employment Taxes. All payments made pursuant to this Agreement will be subject to withholding of all applicable income, health insurance and employment taxes.

 

(h)     Assignment by Company. The Company may assign its rights under this Agreement to an affiliate (as defined under the Securities Exchange Act of 1934, as amended), and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company. In the case of any such assignment, the term “Company” when used in a section of this Agreement shall mean the corporation that actually employs the Executive.

 

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

 

(j)     IRC Section 409A Compliance. The intent of the parties is that payments and benefits under this Agreement comply with IRC Section 409A and the regulations and guidance promulgated thereunder and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under IRC Section 409A (or is intended to qualify for an exemption under IRC Section 409A) and such payment or benefit is payable upon Executive’s termination of employment or termination of this Agreement, then the phrase “termination of employment,” “termination of this Agreement” and other similar phrases in this Agreement will be deemed to mean a “separation from service,” as defined in accordance with IRC Section 409A and corresponding Treasury regulations. Additionally, to the extent that any reimbursements under this Agreement are subject to the provisions of IRC Section 409A , any such reimbursements payable to Executive will be paid to Executive no later than December 31 of the year following the year in which the expense was incurred, the amount of the expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and Executive’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. The Company makes no representation or warranty and will have no liability to Executive or any other person with respect to whether any provision of this Agreement fails to comply with IRC Section 409A or fails to satisfy an intended exemption from IRC Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on Executive by IRC Section 409A.

 

11

 

 

(k)     IRC Section 280G. Notwithstanding any provision of this Agreement or any other plan, arrangement or agreement to the contrary, if any amount or benefit to be paid or provided by the Company or its affiliates to the Executive or the Executive’s benefit pursuant to this Agreement or otherwise (“Covered Payments”) would be an “excess parachute payment,” within the meaning of Section 280G of the IRC, but for this Section 16(k), then the Covered Payments shall be reduced to the minimum extent necessary (but in no event less than zero) so that no portion of any Covered Payments, as so reduced, constitutes an excess parachute payment, but only if and to the extent that such reduction will also result in, after taking into account all state, local and federal taxes applicable to the Executive (computed at the highest applicable marginal rate), including any taxes payable pursuant to Section 4999 of the IRC (and any similar tax that may hereafter be imposed under any successor provision or by any taxing authority), greater after-tax proceeds to the Executive than the after-tax proceeds to the Executive computed without regard to any such reduction. The determination of whether any reduction in such Covered Payments is required pursuant to this Section 16(k) shall be made by a firm of independent certified public accountants or a law firm selected by the Company. In the event that any Covered Payment is required to be reduced pursuant to this Section 16(k), the Executive shall be entitled to designate the payments and/or benefits to be so reduced in order to give effect to this Section 16(k). The Company shall provide the Executive with all information reasonably requested by the Executive to permit the Executive to make such designation. In the event that the Executive fails to make such designation within ten (10) business days of the date on which he is notified of the determination that a reduction in Covered Payments is required under this Section 16(k), the Company may affect such reduction in any manner it deems appropriate.

 

(l)     Clawback Provisions. Notwithstanding any other provisions in this Agreement to the contrary, any incentive-based compensation, or any other compensation, paid to the Executive pursuant to this Agreement or any other agreement or arrangement with the Company which is subject to recovery under any law, government regulation or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement (or any policy adopted by the Company and pursuant to any such law, government regulation or stock exchange listing requirement).

 

 

 

 

 

 

 

 

 

[remainder of page intentionally left blank]

 

12

 

 

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written.

 

 

	COMPANY:	McorpCX, Inc.	
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Mathew Kruchko

				
			[Sign Here]

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			Its:

				
			Board Member

				
			 

			

     

 

 

	
			EXECUTIVE:  

				
			/s/ Gregg Budoi

				[Sign Here]
	
			 

				
			Gregg Budoi

				
			 

			

 

13

 

 

SCHEDULE A

 

DUTIES AND RESPONSIBILITIES OF THE CHIEF EXECUTIVE OFFICER OF THE

COMPANY

 

	
			1.

				
			Subject to the overall control, direction and policies of the Board, the president and chief executive officer (“CEO”) is responsible for the general supervision, management, organization, administration and operation of the Company and its subsidiaries in the ordinary course of business, and, subject to anything to the contrary herein, has all powers necessary to carry out his or her responsibilities. The CEO will work cooperatively with the Board to develop and implement the strategic goals of the Company. The Board will primarily act as a key driver of the development of the strategy and the CEO will be primarily responsible for the execution of the strategy. 

			

 

Specifically, the CEO shall have the following duties, powers and authorities:

 

	 	
			(i)

				
			to make changes in the management organization of the Company as he shall consider appropriate and as shall be consistent with the policies established from time to time by the Board;

			

 

	 	
			(ii)

				
			to prescribe the duties and responsibilities of all officers and employees of the Company, other than the Chairman of the Board;

			

 

	 	
			(iii)

				
			to employ and discharge employees of the Company other than those whose appointments are made or confirmed by the Board;

			

 

	 	
			(iv)

				
			to recommend to the Board the employment or dismissal or change in office of any officer of the Company whose appointments are made or confirmed by the Board;

			

 

	 	
			(v)

				
			to suspend from duty an officer of the Company other than the Chairman of the Board and to report to the Board on any such suspension;

			

 

	 	
			(vi)

				
			to delegate to the vice-presidents and department heads such power and authority to carry out their duties as he considers necessary or desirable;

			

 

	 	
			(vii)

				
			to submit to the Board:

			

 

	 	
			(i)

				
			annual capital and operating plans of the Company;

			

 

	 	
			(ii)

				
			longer term capital and operating plans of the Company;

			

 

	 	
			(iii)

				
			proposals for commitments, capital expenditures, mergers and acquisitions, disposition of assets and financing in excess of the limits of his or her authority; and

			

 

	 	
			(iv)

				
			such other information and materials as the Board may require from time to time;

			

 

14

 

 

	 	
			(viii)

				
			to assist and work with the Board to develop management strategies and business plans and ensure that such strategies and plans are appropriately represented to the Board;

			

 

	 	
			(ix)

				
			to assist and work with the Board and other senior management of the Company to oversee and monitor the progress of the implementation of the Company’s management strategies and business plans;

			

 

	 	
			(x)

				
			to provide the Board with such information respecting the Company and its business and affairs as they may require for the due performance of their duties and functions;

			

 

	 	
			(xi)

				
			to plan and provide for management development and succession within the Company and to report at least annually thereon to the Board;

			

 

	 	
			(xii)

				
			to play an active role in marketing and obtaining new shareholders and maintaining and managing relations with current shareholders;

			

 

	 	
			(xiii)

				
			to act as a spokesman for the Company and work cooperatively with the Board to maintain the Company’s relations with the securityholders, investment analysts, public, government and industry and arrange for the Company to be appropriately represented in its relations with other companies and individuals with which it is associated in joint ventures or by way of investment;

			

 

	 	
			(xiv)

				
			to ensure the Company is operating in the parameters of the law and appropriate ethical and moral standards;

			

 

	 	
			(xv)

				
			to ensure that the principal risks of the Company have been identified and systems have been put in place to manage these risks and to report to the Board regarding the same;

			

 

	 	
			(xvi)

				
			to ensure the suitability and integrity of the Company’s internal control systems; and

			

 

	 	
			(xvii)

				
			to establish, in consultation with the Board and/or appropriate Board committees, such policies and practice statements as may be necessary or desirable to facilitate the Company’s business.

			

 

	
			1.1

				
			These powers and authorities are subject to:

			

 

	 	
			(i)

				
			any requirement of law or the by-laws of the Company that any action must be taken by the Board of directors or by the security holders; and

			

 

	 	
			(ii)

				
			any specific limitation by the Board.

			

 

	
			1.2

				
			The CEO is authorized to delegate such of his powers and authorities as he sees fit, together with power to authorize subdelegation.

			

 

	
			1.3

				
			The CEO shall devote his full time, effort and energies to the business and affairs of the Company and shall not without the prior approval of the Board act as a director of, or consultant or advisor to, any other firm or corporation (other than existing non-executive directorships at the date hereof, charitable organizations, foundations and personal and familial investment and holding companies or firms), unless the same is affiliated or associated with the Company or unless the Company has a substantial interest therein. Notwithstanding, it is understood that Executive may continue his role as an advisory board member and consultant for Lariat Partners LP and Offen Petroleum LLC so long as this does not restrict Executive’s ability to perform his duties outlined herein.

			

 

15

 

 

EXHIBIT A

 

 

Employee Intellectual Property Agreement 

 

 

 

[attached]

 

 

16

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