Document:

Summary of Compensation for Executive Officers

 Exhibit 10.53 
 Summary of Compensation for Executive Officers 
 Following is a description of the compensation
arrangements for each of PC Connection, Inc.’s (the “Company’s”) executive officers. The Company’s executive officers consist of: (i) Patricia Gallup, President, Chief Executive Officer, and Chairman; (ii) David
Beffa-Negrini, Senior Vice President, Corporate Marketing and Creative Services; (iii) Jack Ferguson, Senior Vice President, Treasurer, and Chief Financial Officer; (iv) Timothy McGrath, Senior Vice President, PC Connection Enterprises;
and (v) Bradley Mousseau, Senior Vice President, Human Resources. 
 The Compensation Committee annually sets the compensation of the
Chief Executive Officer. The Compensation Committee also reviews the recommendations of the Chief Executive Officer regarding the compensation of the Company’s other executive officers. The Compensation Committee seeks to achieve three broad
goals in connection with the Company’s compensation philosophy and decisions regarding compensation. First, the Company is committed to providing executive compensation designed to attract, retain, and motivate executives who contribute to the
long-term success of the Company and are capable of leading the Company in achieving its business objectives in the competitive and rapidly changing industry in which the Company operates. Second, the Company wants to reward executives for the
achievement of business objectives of the Company and/or the individual executive’s particular area of responsibility. By tying compensation in part to achievement, the Company believes that a performance-oriented environment is created for the
Company’s executives. Finally, compensation is intended to provide executives with an equity interest in the Company so as to link a meaningful portion of the compensation of the Company’s executives with the performance of the
Company’s Common Stock. 
 Each executive’s total compensation depends upon the executive’s performance against specific
objectives. These objectives include both quantitative factors related to the Company’s short-term financial objectives and qualitative factors such as (a) demonstrated leadership ability, (b) management development,
(c) compliance with Company policies, and (d) anticipation of and response to changing market and economic conditions, to enhance the Company’s ability to operate profitably. Compensation for the Company’s executives generally
consists of three elements: 
  

	 	•	 	 salary—levels are generally set by reviewing compensation for competitive positions in the market and considering the executive’s level of responsibility,
qualifications, and experience, as well as the Company’s financial performance and the individual’s performance; 

  

	 	•	 	 bonus—amounts are generally based on achievement of the Company’s performance goals in any given year; and 

  

	 	•	 	 equity awards—equity awards provide long-term incentives to promote and identify long-term interests between the Company’s employees and its stockholders
and to assist in the retention of executives. 

 The Company did not make any equity awards in 2006 to the Company’s
executive officers. 

 The following table lists the 2006 annual salaries and bonuses of the Company’s executive officers: 
  

					
	  	 	Salary	 	Bonus
	 	 	 
	 Patricia Gallup
President, Chief Executive
Officer, and Chairman
	 	$476,731	 	$750,000
	 	 	 
	 David Beffa-Negrini (1)
Senior Vice President, Corporate Marketing & Creative Services
	 	$270,615	 	$207,000
	 	 	 
	 Jack Ferguson
Senior Vice President, Treasurer,
and Chief Financial Officer
	 	$271,856	 	$210,000
	 	 	 
	 Timothy McGrath (2)
Senior Vice President, PC Connection Enterprises
	 	$300,000	 	$  75,000
	 	 	 
	 Bradley Mousseau
Senior Vice President, Human
Resources
	 	$226,462	 	$180,000

  

	 	(1)	Mr. Beffa-Negrini was appointed Senior Vice President, Corporate Marketing and Creative Services on February 16, 2007. Prior to his appointment, Mr. Beffa-Negrini had
been serving as Co-President of the Company’s subsidiary Merrimack Services Corporation since September 2005 and as Vice President of Corporate Communications since June 2000. 

  

	 	(2)	Mr. McGrath was appointed Senior Vice President, PC Connection Enterprises on December 20, 2006. Prior to his appointment, Mr. McGrath had been serving as President
of the Company’s subsidiary PC Connection Sales Corporation since August 2005.Summary of Compensation for Non-Employee Directors

 Exhibit 10.54 
 Summary Compensation for Non-Employee Directors 
 PC Connection, Inc.’s (the
“Company’s”) non-employee directors currently consist of: (i) Bruce Barone; (ii) Joseph Baute; and (iii) Donald Weatherson. In 2006, non-employee directors of the Company received an annual retainer. In addition to this
retainer, non-employee directors were entitled to receive a fee for each regularly scheduled board meeting attended in person and a fee for each committee meeting attended. The table below sets forth the annual retainer, per board meeting fees and
per committee meeting fees paid to our non-employee directors in 2006: 
  

							
	 	 	 	 
	Director	 	Annual Retainer(1)	 	 Fee Per Board
 Meeting Attended
	 	 Fee Per
Committee
 Meeting Attended

	 	 	 	 
	 Bruce Barone
	 	$36,000	 	$1,500	 	$1,500
	 	 	 	 
	 Joseph Baute
	 	$36,000	 	$1,500	 	$1,500
	 	 	 	 
	 Donald Weatherson
	 	$36,000	 	$1,500	 	$1,500

  

	(1)	In addition, the non-employee directors receive reimbursement for all reasonable expenses incurred in attending board and committee meetings. 

 In October 2006, the Board of Directors approved the grant of restricted stock to Directors Barone and Baute in the amount of 5,000 shares each. The
restrictions on sale of such shares will be released at a rate of 25% per year on the first four anniversaries of the date of grant.Form of Medium-Term Note

 Exhibit 4.1 
 [Face of Note] 
  

			
	 CUSIP NO.
                        
	  	PRINCIPAL AMOUNT: $             
	 REGISTERED NO.     
	  	

 WELLS FARGO & COMPANY 
 MEDIUM-TERM NOTE, SERIES G 
 SENIOR EXTENDIBLE FLOATING RATE NOTE

 Due Nine Months or More From Date of Issue 
 x  Check this box if this Security is a Global Security. 
 Unless this certificate is
presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer 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. 

					
	ORIGINAL ISSUE DATE: March 28, 2007	  	ISSUE PRICE: 100%	  	INITIAL MATURITY DATE: April 18, 2008 or, if such day is not a Business Day, the immediately preceding Business Day
			
	FINAL MATURITY DATE: April 18, 2013 or, if such day is not a Business Day, the immediately preceding Business Day	  	EXTENDED MATURITY DATES: As to any given Election Date, the date occurring 366 calendar days from and including the 18th day of the next succeeding month; provided, however, that if that day is not a Business Day, the Extended Maturity Date of this Security will be the
immediately preceding Business Day	  	ELECTION DATES: The 18th day of each month, commencing April
18, 2007 through and including March 18, 2012, whether or not such day is a Business Day
			
	NOTICE PERIODS: The Notice Period for each Election Date will begin on the fifth Business Day prior to the Election Date and end on the Election Date; provided, however, that if the Election
Date is not a Business Day, the Notice Period will be extended to the next day that is a Business Day	  	BASE RATE: LIBOR Reuters. To determine LIBOR Reuters, the Designated LIBOR Page is Page LIBOR01 as displayed on Reuters Money 3000 Service or any successor service (or such other page as may
replace Page LIBOR01 on that service or successor service) for the purpose of displaying the London interbank rates of major banks for U.S. Dollars or its designated successor.	  	INITIAL INTEREST RATE: One-month LIBOR Reuters minus 0.04%, determined two London Banking Days prior to March 28, 2007
			
	INITIAL INTEREST PAYMENT DATE: April 18, 2007	  	INTEREST PAYMENT DATES: The 18th day of each
month	  	INTEREST DETERMINATION DATES: Second London Banking Day prior to each Interest Reset Date
			
	CALCULATION DATES: See below	  	MAXIMUM INTEREST RATE: N/A	  	MINIMUM INTEREST RATE: N/A
			
	INTEREST RESET PERIOD: Monthly	  	INTEREST RESET DATES: The 18th day of each month	  	INITIAL INTEREST RESET DATE: April 18, 2007
			
	SPREAD MULTIPLIER: N/A	  	 SPREAD:
 Minus 0.04% from the Original Issue Date to but
excluding April 18, 2008
  
 Minus 0.02% from and including April 18, 2008 to but excluding
April 18, 2009
  
 0.00% from and including April 18, 2009 to but excluding April 18,
2010
  
 Plus 0.01% from and including April 18, 2010 to but excluding April 18,
2011
  
 Plus 0.02% from and including April 18, 2011 to but excluding April 18,
2012
  
 Plus 0.02% from and including April 18, 2012 to but excluding the Final Maturity
Date
	  	INDEX MATURITY: One month

					
	REGULAR RECORD DATES: The fifteenth calendar day, whether or not a Business Day, prior to the Interest Payment Date	  	 DESIGNATED CMT MATURITY
 INDEX AND DESIGNATED

TELERATE PAGE
 (Only applicable if the Base Rate
 is CMT): N/A
	  	 DESIGNATED LIBOR PAGE
 (Only applicable if the Base Rate
is
 LIBOR):
  ̈ LIBOR Telerate (p. __)
  
 x LIBOR Reuters (p. LIBOR 01.) as displayed on Reuters Money 3000 Service or any successor service (or such other page as may replace Page LIBOR01 on that service or successor
service) for the purpose of displaying the London interbank rates of major banks for U.S. Dollars or its designated successor

			
	 INDEX CURRENCY
 (Only applicable if the Base Rate is
LIBOR): U.S. Dollars
	  	CALCULATION AGENT: Wells Fargo Bank, N.A.	  	 OPTIONAL REDEMPTION
 (at option of Company):
Yes

			
	 REDEMPTION PRICE:
 x 100%
  ̈ Other
	  	 REDEMPTION DATE(S)
 (at option of Company): Any Interest
Payment Date on or after April 18, 2012
	  	SINKING FUND: N/A
			
	OPTION TO ELECT REPAYMENT: N/A	  	 REPAYMENT PRICE:
  ̈ 100%
  ̈ Other
 N/A
	  	OPTIONAL REPAYMENT DATE(S): N/A
			
	 MINIMUM DENOMINATIONS:
 x U.S. $5,000
  ̈ Other
	  	 DEPOSITARY
 (Only applicable if this Security is
a
 Global Security): The Depository Trust Company
	  	SPECIFIED CURRENCY: U.S. Dollars
			
	OTHER/ADDITIONAL TERMS: See below	  	ADDENDUM ATTACHED: No	  	

 OTHER/ADDITIONAL TERMS: 
  

			
	 NOTICE:
	  	Delivery of a notice during a Notice Period (as defined below) electing to extend the maturity of this Security or any portion thereof to Wells Fargo Bank, N.A., as the Paying Agent, will be
revocable during each day of such Notice Period, until 12:00 noon, New York City time, on the last Business Day of such Notice Period, at which time such notice will become irrevocable. The holder of a Short-Term Security (as defined below) received
as a consequence of the failure to make such election may not elect to exchange such Short-Term Security for an interest in this Security.
		
	MATURITY EXTENSION:	  	This Security shall mature on the Initial Maturity Date, unless the maturity of all or any portion of the principal amount hereof is extended in accordance with the procedures described herein
under “Option to Extend Maturity.”

			
	OPTION TO EXTEND MATURITY:	  	 During the Notice Period for any Election Date, if the option to extend the maturity of this Security is exercised, the maturity of this Security, or
of any portion of this Security having a principal amount of $5,000 or any multiple of $1,000 in excess thereof for which such option has been exercised, shall be extended to the Extended Maturity Date corresponding to such Election Date. In order
to exercise the option to extend the maturity of all, or any portion, of the principal amount of this Security, the Holder of this Security must deliver to the Paying Agent during the relevant Notice Period (i) the form entitled “Option to
Extend Maturity” included below duly completed and, in the event of an election to extend the maturity of only a portion of the principal amount of this Security, this Security or (ii) a telegram, telex, facsimile transmission or a letter from
a member of a national securities exchange or the National Association of Securities Dealers, Inc. or a commercial bank or a trust company in the United States setting forth the name of the Holder of this Security, the principal amount hereof, the
certificate number of this Security or a description of this Security’s tenor or terms, a statement that the option to elect extension of maturity is being exercised thereby, the principal amount hereof with respect to which such option is
being exercised and a guarantee that the form entitled “Option to Extend Maturity” included below duly completed and, in the event of an election to extend the maturity of only a portion of the principal amount of this Security, this
Security will be received by the Paying Agent no later than five Business Days after the date of such telegram, telex, facsimile transmission or letter; provided that such telegram, telex, facsimile transmission or letter shall not be
effective unless this Security (if required to be surrendered as aforesaid) and such form duly completed are received by the Paying Agent by such fifth Business Day. Such option may be exercised by the Holder for less than the entire principal
amount hereof provided that the principal amount for which such option is not exercised is at least $5,000 or any larger amount that is an integral multiple of
 $1,000.

			
	 	  	 If the option to extend the maturity of any portion hereof is not
duly exercised within the Notice Period for any such Election
Date, a new
Security or Securities in the form attached hereto as
Exhibit A (each, a “Short-Term Security”) for all or that portion
of the principal amount hereof as to which such option to extend
has not been made and having as its or their
“Stated Maturity
Date” (as such term is used in each such Short-Term Security)
the Initial Maturity Date, or any later date to which the maturity
of this Security has previously been extended shall be issued
(whose issuance
date shall be such Election Date) in the name
 of the Holder hereof, subject to delivery of this Security to the
Paying Agent, and Schedule I hereto
shall be annotated as of
such Election Date to reflect the corresponding decrease in the
principal amount hereof. The failure to elect to extend the
maturity of all or any portion of this Security will be irrevocable
and will be binding
upon any subsequent holder of this Security.
  
 The Company and the Trustee shall deem
this Security
cancelled as to any portion of the principal amount hereof for
which a duly completed form entitled “Option to Extend
Maturity” and, if applicable, this Security are not delivered to
the Paying Agent within the
applicable Notice Period in
accordance with the terms of this Security.
  
 The maturity
of this Security will not be extended beyond
April 18, 2013 or, if such day is not a Business Day, the
immediately preceding Business Day.

		
	NOTICE PERIOD:	  	With respect to any Election Date, the period beginning on the fifth Business Day prior to such Election Date and ending on the Election Date; provided, however, that if the Election Date
is not a Business Day, the Notice Period will be extended to the next day that is a Business Day. The holder of this Security must deliver its duly completed “Option to Extend Maturity” on or prior to 12:00 noon, New York City time,
on the last Business Day in the Notice Period.

 WELLS FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of
Delaware (hereinafter called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, the principal
amount specified in Schedule I hereto on the Initial Maturity Date specified above or, to the extent the maturity of any portion of the principal amount of this Security is extended in accordance with the procedures set forth above to the Extended
Maturity Date, as defined above, on such Extended Maturity Date, and to pay interest, if any, on the principal amount hereof outstanding from time to time, on the Interest Payment Dates specified above, commencing with the Initial Interest Payment
Date specified above following the Original Issue Date specified above, at a rate per annum equal to the Initial Interest Rate specified above until the Initial Interest Reset Date specified above following the Original Issue Date specified above,
and thereafter (except to the extent redeemed at the option of the Company) at a rate per annum determined by the Calculation Agent in accordance with the provisions specified above and on the reverse hereof under the heading “Determination of
CD Rate”, “Determination of Commercial Paper Rate”, “Determination of EURIBOR”, “Determination of Federal Funds Rate”, “Determination of Federal Funds (Open) Rate”, “Determination of LIBOR”,
“Determination of Prime Rate”, “Determination of Treasury Rate” or “Determination of CMT Rate,” as applicable. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as
provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date next preceding such Interest Payment Date. Interest payable upon
Maturity will be paid to the Person to whom principal is payable. The Regular Record Date for an Interest Payment Date shall be the fifteenth calendar day, whether or not a Business Day, prior to such Interest Payment Date. 
 If an Interest Payment Date falls on a day that is not a Business Day, such Interest Payment Date will be postponed to the following day that is a
Business Day, except that, (i) if the Base Rate specified above is LIBOR or EURIBOR and such following Business Day is in the next calendar month or (ii) such Interest Payment Date is also the originally scheduled Maturity Date (prior to
the modification provided on the face of this Security with respect to Extended Maturity Dates), such Interest Payment Date shall be the immediately preceding day that is a Business Day. The final Interest Payment Date for this Security, or any
portion of this Security maturing prior to the Final Maturity Date specified above, will be the applicable Maturity Date and interest payable on such Maturity Date will accrue from and including the Interest Payment Date immediately preceding such
Maturity Date to but excluding such Maturity Date. The Initial Maturity Date or any later Extended Maturity Date (including the Final Maturity Date) shall be referred to herein as the “Maturity Date.” For purposes of this Security,
“Business Day” means a day other than a Saturday or Sunday (i) that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulation to close (a) in New York, New York or
Minneapolis, Minnesota, (b) if this Security is denominated in a Specified Currency other than U.S. dollars, euro or Australian dollars, in the principal financial center of the country of the Specified Currency or (c) if this Security is
denominated in Australian dollars, in Sydney, Australia and (ii) if this Security is denominated in euro, that is also a TARGET Settlement Day. For purposes of this Security, “TARGET Settlement Day” means any day on which the
Trans-European Automated Real-time Gross Settlement Express Transfer System is open. 

 Interest payments on this Security shall be the amount of interest accrued from and including the
Original Issue Date specified above or from and including the last date to which interest has been paid, or provided for, as the case may be, to but excluding, the following Interest Payment Date or the applicable Maturity Date or earlier Redemption
Date. This period is referred to as an “Interest Period.” If this Security has been issued upon transfer of, in exchange for, or in replacement of, a Predecessor Security, interest on this Security shall accrue from the last Interest
Payment Date to which interest was paid on such Predecessor Security or, if no interest was paid on such Predecessor Security, from the Original Issue Date specified above. The first payment of interest on a Security originally issued and dated
between a Regular Record Date specified above and an Interest Payment Date will be due and payable on the Interest Payment Date following the next succeeding Regular Record Date to the registered owner on such next succeeding Regular Record Date.

 Notwithstanding the foregoing, if an Addendum is attached hereto or “Other/Additional Terms” apply to this Security as specified
above, this Security shall be subject to the terms set forth in such Addendum or such “Other/Additional Terms.” 
 The principal
(and premium, if any) and interest on this Security is payable by the Company in the Specified Currency specified above. 
 Any interest not
punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of
business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the
Indenture. 
 Payment of interest on this Security other than payments of interest at Maturity will be paid by check mailed to the Person
entitled thereto at such Person’s last address as it appears in the Security Register or by wire transfer to such account as may have been designated by such Person. Payment of principal of and interest on this Security at Maturity will be made
against presentation of this Security at the office or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota. Notwithstanding the foregoing, for so long as this Security is a Global Security registered in the name
of the Depositary, payments of principal and interest on this Security will be made to the Depositary by wire transfer of immediately available funds. 
 The Company will pay any administrative costs imposed by banks on payors in making payments on this Security in immediately available funds and the Holder of this Security shall pay any administrative costs imposed by
banks on payees in connection with such payments. Any tax, assessment or governmental charge imposed upon payments on this Security will be borne by the Holder of this Security. 

 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. 

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

  

					
	 DATED:                             
	 		 	
		 	WELLS FARGO & COMPANY
			
		 	By:	 	  

	 [SEAL]
	 		 	
		 	Attest:	 	  

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the 
 series designated therein referred to 
 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

 [Reverse of Note] 
 WELLS FARGO & COMPANY 
 MEDIUM-TERM NOTE, SERIES G 
 SENIOR EXTENDIBLE FLOATING RATE NOTE 
 Due Nine Months or More From Date of Issue 
 General 
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999,
as amended or supplemented from time to time (herein called the “Indenture”), between the Company and Citibank, N.A., as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to
which Indenture and all indentures supplemental thereto, reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of
the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series of the Securities designated as Medium-Term Notes, Series G, of the Company, which series is limited to an aggregate principal
amount of $25,000,000,000 or the equivalent thereof in one or more foreign or composite currencies minus the aggregate principal amount of the Company’s Subordinated Medium-Term Notes, Series H which may be issued from time to time. The
Securities of this series may mature at different times, bear interest, if any, at different rates, be redeemable at different times or not at all, be repayable at the option of the Holder at different times or not at all, be issued at an original
issue discount 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. 
 Interest Rate Reset 
 The interest rate in effect from the Original Issue Date to the Initial Interest Reset Date specified on the face hereof shall be the Initial Interest Rate specified on the face hereof. Commencing with the Initial Interest Reset Date
specified on the face hereof following the Original Issue Date specified on the face hereof, the interest rate on this Security will be reset daily, weekly, monthly, quarterly, semiannually or annually as specified on the face hereof under
“Interest Reset Period”. Each such adjusted rate shall be applicable from and including the Interest Reset Date to which it relates to but not including the next succeeding Interest Reset Date or until Maturity, as the case may be. On each
Interest Reset Date, the rate of interest on this Security shall be the rate determined with respect to the Interest Determination Date next preceding such Interest Reset Date in accordance with the provisions of the applicable heading below and
adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof, and/or by the multiplication by the Spread Multiplier, if any, specified on the face hereof. 

 If any Interest Reset Date would otherwise be a day that is not a Business Day, such Interest Reset Date
will be postponed to the following Business Day, except that if the Base Rate specified above is LIBOR or EURIBOR and if such following Business Day is in the next calendar month, such Interest Reset Date shall be the immediately preceding Business
Day. 
 The amount of interest to be paid on this Security for each Interest Period will be calculated by multiplying the principal amount of
this Security by an accrued interest factor. The “accrued interest factor” will be computed by adding the interest factors calculated for each day in the Interest Period. The “interest factor” for each day is computed by dividing
the interest rate applicable to that day: 
  

	 	•	 	 by 360, if the Base Rate is the CD Rate, the Commercial Paper Rate, EURIBOR, Federal Funds Rate, Federal Funds (Open) Rate, LIBOR, except for LIBOR Securities for
which the Index Currency is pounds sterling, or Prime Rate; 

  

	 	•	 	 by 365 (or 366 if the last day of the Interest Period falls in a leap year) if the Base Rate is LIBOR and the Index Currency is pounds sterling; or

  

	 	•	 	 by the actual number of days in the year, if the Base Rate is the Treasury Rate or the CMT Rate. 

 Unless otherwise specified on the face hereof, all percentages resulting from any calculation referred to herein shall be rounded, if necessary, to the
nearest one hundred-thousandth of a percentage point, with .000005% rounded up to .00001% and all U.S. dollar amounts used in or resulting from any of the above calculations will be rounded, if necessary, to the nearest cent, with one-half cent
rounded upward. If the Japanese Yen is the Index Currency, all Japanese Yen amounts used in or resulting from these calculations will be rounded downward to the next lower Japanese Yen amount. All amounts denominated in any other currency used in or
resulting from these calculations will be rounded to the nearest two decimal places in that currency, with .005 round up to.01. 
 Notwithstanding the foregoing, the interest rate per annum hereon shall not be greater than the Maximum Interest Rate, if any, or less than the Minimum Interest Rate, if any, specified on the face hereof. The Calculation Agent shall
calculate the interest rate hereon in accordance with the foregoing on or before each Calculation Date. 
 The interest rate on this Security
shall in no event be higher than the maximum rate permitted by New York law, as the same may be modified by United States law of general application. 
 At the request of the Holder hereof, the Calculation Agent shall provide to the Holder hereof the interest rate hereon then in effect and, if determined, the interest rate that will become effective on the next
Interest Reset Date with respect to this Security. The Calculation Agent’s determination of any interest rate shall be final and binding in the absence of manifest error. The Calculation Agent shall notify the Paying Agent of each determination
of the interest applicable to this Security promptly after the determination is made. 

 A “Calculation Date”, where applicable, for any Interest Determination Date will be the earlier
of: 
  

	 	•	 	 the tenth calendar day after that Interest Determination Date or, if that day is not a Business Day, the next Business Day; or 

  

	 	•	 	 the Business Day immediately preceding the applicable Interest Payment Date or date of Maturity. 

 Determination of CD Rate 
 If the Base Rate specified
on the face hereof is the CD Rate, the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate on that date for negotiable U.S. dollar certificates of deposit having the
Index Maturity specified on the face hereof as published by the Board of Governors of the Federal Reserve System in “Statistical Release H.15(519), Selected Interest Rates,” or any successor publication of the Board of Governors of
the Federal Reserve System (“H.15(519)”) under the heading “CDs (Secondary Market).” 
 The following procedures will be
followed if the CD Rate cannot be determined as described above: 
  

	 	•	 	 If the above rate is not published in H.15(519) by 3:00 p.m., New York City time, on the Calculation Date, the CD Rate will be the rate on that Interest
Determination Date set forth in the daily update of H.15(519), available through the website of the Board of Governors of the Federal Reserve System at http://www.federalreserve.gov/releases/h15/update, or any successor site or publication (the
“H.15 Daily Update”) for the Interest Determination Date for certificates of deposit having the Index Maturity specified on the face hereof, under the caption “CDs (Secondary Market).” 

  

	 	•	 	 If the above rate is not yet published in either H.15(519) or the H.15 Daily Update by 3:00 p.m., New York City time, on the Calculation Date, the Calculation
Agent will determine the CD Rate to be the arithmetic mean of the secondary market offered rates as of 10:00 a.m., New York City time, on that Interest Determination Date of three leading nonbank dealers in negotiable U.S. dollar certificates
of deposit in New York, New York which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent, after consultation with the Company, for negotiable U.S. dollar certificates of deposit of major
U.S. money center banks of the highest credit standing in the market for negotiable certificates of deposit with a remaining maturity closest to the Index Maturity specified on the face hereof in an amount that is representative for a single
transaction in that market at that time. 

  

	 	•	 	 If the dealers selected by the Calculation Agent are not quoting as set forth above, the CD Rate for that Interest Determination Date will remain the CD Rate for
the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 Determination of Commercial Paper Rate 
 If the Base Rate specified on the face hereof is the Commercial Paper Rate, the interest rate per annum determined with respect to any Interest
Determination Date specified on the face hereof shall equal the Money Market Yield (as defined below), calculated as described below, of the rate on that date for U.S. dollar commercial paper having the Index Maturity specified on the face hereof,
as that rate is published in H.15(519), under the heading “Commercial Paper—Nonfinancial.” 
 The following procedures will be
followed if the Commercial Paper Rate cannot be determined as described above: 
  

	 	•	 	 If the above rate is not published by 3:00 p.m., New York City time, on the Calculation Date, then the Commercial Paper Rate will be the Money Market Yield of the
rate on that Interest Determination Date for commercial paper of the Index Maturity specified on the face hereof as published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate,
under the heading “Commercial Paper—Nonfinancial.” 

  

	 	•	 	 If by 3:00 p.m., New York City time, on that Calculation Date the rate is not yet published in either H.15(519) or the H.15 Daily Update, or other recognized
electronic source used for the purpose of displaying the applicable rate, then the Calculation Agent will determine the Commercial Paper Rate to be the Money Market Yield of the arithmetic mean of the offered rates as of 11:00 a.m., New York
City time, on that Interest Determination Date of three leading dealers of U.S. dollar commercial paper in New York, New York, which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent,
after consultation with the Company, for commercial paper of the Index Maturity specified on the face hereof, placed for an industrial issuer whose bond rating is “Aa,” or the equivalent, from a nationally recognized statistical rating
agency. 

  

	 	•	 	 If the dealers selected by the Calculation Agent are not quoting as set forth above, the Commercial Paper Rate for the Interest Determination Date will remain the
Commercial Paper Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 “Money Market Yield” will be a yield calculated in accordance with the following formula: 
  

					
	 Money Market Yield = 
	 	D x 360	 	 x 100

	 	360 – (D x M)	 

 where “D” refers to the applicable per year rate for commercial paper quoted on a bank discount basis
and expressed as a decimal and “M” refers to the actual number of days in the Interest Period for which interest is being calculated. 

 Determination of EURIBOR 
 If the Base Rate specified on the face hereof is EURIBOR, the interest rate per annum determined with respect to any Interest Determination Date specified
on the face hereof shall equal the rate for deposits in euros as sponsored, calculated and published jointly by the European Banking Federation and ACI — The Financial Market Association, or any company established by the joint sponsors
for purposes of compiling and publishing those rates, for the Index Maturity specified on the face hereof as that rate appears on the display on Moneyline Telerate, or any successor service, on page 248 or any other page as may replace page 248 on
that service, which is referred to as “Telerate Page 248,” as of 11:00 a.m., Brussels time. 
 The following procedures will be
followed if the EURIBOR Rate cannot be determined as described above: 
  

	 	•	 	 If the above rate does not appear, the Calculation Agent will request the principal Euro-zone office of each of four major banks in the Euro-zone interbank market,
as selected by the Calculation Agent, after consultation with the Company, to provide the Calculation Agent with its offered rate for deposits in euros, at approximately 11:00 a.m., Brussels time, on the Interest Determination Date, to prime banks
in the Euro-zone interbank market for the Index Maturity specified on the face hereof commencing on the applicable Interest Reset Date, and in a principal amount not less than the equivalent of U.S. $1 million in euro that is representative of a
single transaction in euro, in that market at that time. If at least two quotations are provided, EURIBOR will be the arithmetic mean of those quotations. 

  

	 	•	 	 If fewer than two quotations are provided, EURIBOR will be the arithmetic mean of the rates quoted by four major banks in the Euro-zone interbank market, as
selected by the Calculation Agent, after consultation with the Company, at approximately 11:00 a.m., Brussels time, on the applicable Interest Reset Date for loans in euro to leading European banks for a period of time equivalent to the Index
Maturity specified on the face hereof commencing on that Interest Reset Date in a principal amount not less than the equivalent of U.S. $1 million in euro. 

  

	 	•	 	 If the banks so selected by the Calculation Agent are not quoting as set forth above, EURIBOR for that Interest Determination Date will remain EURIBOR for the
immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 “Euro-zone” means the region comprising member states of the European Union that have adopted the single currency in accordance with the relevant treaty of the European Union, as amended. 
 Determination of Federal Funds Rate 
 If the Base Rate specified on the face hereof is the Federal Funds Rate, the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate on that date for U.S. dollar
federal funds as published in H.15(519) 

 
under the heading “Federal Funds (Effective)” as displayed on Moneyline Telerate, or any successor service, on page 120 or any other page as
may replace the applicable page on that service (“Telerate Page 120”). 
 The following procedures will be followed if the Federal
Funds Rate cannot be determined as described above: 
  

	 	•	 	 If the above rate is not published by 3:00 p.m., New York City time, on the Calculation Date, the Federal Funds Rate will be the rate on that Interest Determination
Date as published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the heading “Federal Funds (Effective).” 

  

	 	•	 	 If the above rate is not yet published in either H.15(519) or H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the
applicable rate, by 3:00 p.m., New York City time, on the Calculation Date, the Calculation Agent will determine the Federal Funds Rate to be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar federal funds prior
to 9:00 a.m., New York City time, on that Interest Determination Date, by each of three leading brokers of U.S. dollar federal funds transactions in New York, New York, which may include the agents for the Securities of this series or their
affiliates, selected by the Calculation Agent, after consultation with the Company. 

  

	 	•	 	 If the brokers selected by the Calculation Agent are not quoting as set forth above, the Federal Funds Rate for that Interest Determination Date will remain the
Federal Funds Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 Determination of Federal Funds (Open) Rate 
 If the Base Rate specified on the face hereof is the
Federal Funds (Open) Rate, the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate on that date for U.S. dollar federal funds as published in H.15(519) under the
heading “Federal Funds (Open)” as displayed on Moneyline Telerate, or any successor service, on page 5 or any other page as may replace the applicable page on that service (“Telerate Page 5”). 
 The following procedures will be followed if the Federal Funds (Open) Rate cannot be determined as described above: 
  

	 	•	 	 If the above rate is not published by 3:00 p.m., New York City time, on the Calculation Date, the Federal Funds (Open) Rate will be the rate on that Interest
Determination Date as published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the heading “Federal Funds (Open).” 

	 	•	 	 If the above rate is not yet published in either H.15(519) or the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the
applicable rate, by 3:00 p.m., New York City time, on the Calculation Date, the Calculation Agent will determine the Federal Funds (Open) Rate to be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar federal funds
(based on the Federal Funds (Open) Rate) prior to 9:00 a.m., New York City time, on that Interest Determination Date, by each of three leading brokers of U.S. dollar federal funds transactions in New York, New York, which may include the agents for
the Securities of this series or their affiliates, selected by the Calculation Agent, after consultation with the Company. 

  

	 	•	 	 If the brokers selected by the Calculation Agent are not quoting as set forth above, the Federal Funds (Open) Rate for that Interest Determination Date will remain
the Federal Funds (Open) Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 Determination of LIBOR 
 If the Base
Rate specified on the face hereof is LIBOR, the interest rate per annum shall be determined by the Calculation Agent for each Interest Determination Date specified on the face hereof as follows: 
 As of the Interest Determination Date, LIBOR will be either LIBOR Reuters or LIBOR Telerate: 
  

	 	•	 	 if “LIBOR Reuters” is specified on the face hereof, the arithmetic mean of the offered rates for deposits in the Index Currency having the Index Maturity
designated on the face hereof, commencing on the second London Banking Day, as defined below, immediately following that Interest Determination Date, or, if pounds sterling is the Index Currency, commencing on that Interest Determination Date, that
appear on the Designated LIBOR Page as of 11:00 a.m., London time, on that Interest Determination Date, if at least two offered rates appear on the Designated LIBOR Page; except that if the specified Designated LIBOR Page by its terms provides only
for a single rate, that single rate will be used; or 

  

	 	•	 	 if “LIBOR Telerate” is specified on the face hereof, the rate for deposits in the Index Currency having the Index Maturity designated on the face hereof,
commencing on the second London Banking Day immediately following that Interest Determination Date or, if pounds sterling is the Index Currency, commencing on that Interest Determination Date, that appears on the Designated LIBOR Page at
approximately 11:00 a.m., London time, on that Interest Determination Date. 

  

	 	•	 	 If (i) fewer than two offered rates appear and “LIBOR Reuters” is specified on the face hereof, or (ii) no rate appears and either
(a) “LIBOR Telerate” is specified on the face hereof or (b) “LIBOR Reuters” is specified on the face hereof and the Designated LIBOR Page by its terms provides only for a single rate, then the 

	 	 
Calculation Agent will request the principal London offices of each of four major banks in the London interbank market, as selected by the Calculation Agent,
to provide the Calculation Agent with its offered quotation for deposits in the Index Currency for the period of the Index Maturity specified on the face hereof commencing on the second London Banking Day immediately following the Interest
Determination Date or, if pounds sterling is the Index Currency, commencing on that Interest Determination Date, to prime banks in the London interbank market at approximately 11:00 a.m., London time, on that Interest Determination Date and in a
principal amount that is representative of a single transaction in that Index Currency in that market at that time. 

  

	 	•	 	 If at least two quotations are provided, LIBOR determined on that Interest Determination Date will be the arithmetic mean of those quotations. If fewer than two
quotations are provided, LIBOR will be determined for the applicable Interest Reset Date as the arithmetic mean of the rates quoted at approximately 11:00 a.m., or some other time specified on the face hereof, in the applicable principal financial
center for the country of the Index Currency on that Interest Reset Date, by three major banks in that principal financial center selected by the Calculation Agent for loans in the Index Currency to leading European banks, having the Index Maturity
specified on the face hereof and in a principal amount that is representative of a single transaction in that Index Currency in that market at that time. 

  

	 	•	 	 If the banks so selected by the Calculation Agent are not quoting as set forth above, LIBOR for that Interest Determination Date will remain LIBOR for the
immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 The “Index Currency” means the currency specified on the face hereof as the currency for which LIBOR will be calculated or, if the euro is substituted for that currency, the Index Currency will be the euro. If no currency is
specified on the face hereof, the Index Currency will be U.S. dollars. 
 “Designated LIBOR Page” means either (i) if
“LIBOR Reuters” is designated on the face hereof, the display on the Reuters Money 3000 Service for the purpose of displaying the London interbank rates of major banks for the applicable Index Currency or its designated successor, or
(ii) if “LIBOR Telerate” is designated on the face hereof, the display on Moneyline Telerate, or any successor service, on the page specified on the face hereof, or any other page as may replace that page on that service, for the
purpose of displaying the London interbank rates of major banks for the applicable Index Currency. 
 “Euro LIBOR Securities” means
LIBOR debt securities for which the Index Currency is euros. 
 “London Banking Day” means any day on which dealings in deposits in
the Index Currency specified above are transacted in the London interbank market. 

 Determination of Prime Rate 
 If the Base Rate specified on the face hereof is the Prime Rate, the interest rate per annum determined with respect to any Interest Determination Date
specified on the face hereof shall equal the rate on that date as published in H.15(519) under the heading “Bank Prime Loan.” 
 The following procedures will be followed if the Prime Rate cannot be determined as described above: 
  

	 	•	 	 If the above rate is not published prior to 3:00 p.m., New York City time, on the Calculation Date, then the Prime Rate will be the rate on that Interest
Determination Date as published in the H.15 Daily Update under the heading “Bank Prime Loan.” 

  

	 	•	 	 If the rate is not published in either H.15(519) or the H.15 Daily Update by 3:00 p.m., New York City time, on the Calculation Date, then the Calculation Agent will
determine the Prime Rate to be the arithmetic mean of the rates of interest publicly announced by each bank that appears on the Reuters Screen USPRIME 1 Page, as defined below, as that bank’s prime rate or base lending rate as in effect for
that Interest Determination Date. 

  

	 	•	 	 If fewer than four rates for that Interest Determination Date appear on the Reuters Screen USPRIME 1 Page by 3:00 p.m., New York City time, on the Calculation Date,
the Calculation Agent will determine the Prime Rate to be the arithmetic mean of the prime rates quoted on the basis of the actual number of days in the year divided by 360 as of the close of business on that Interest Determination Date by at least
three major banks in New York, New York, which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent, after consultation with the Company. 

  

	 	•	 	 If the banks selected by the Calculation Agent are not quoting as set forth above, the Prime Rate for that Interest Determination Date will remain the Prime Rate
for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 “Reuters Screen USPRIME 1 Page” means the display designated as page “USPRIME 1” on the Reuters Money 3000 Service, or any successor service, or any other page as may replace the USPRIME 1 Page on that service for the
purpose of displaying prime rates or base lending rates of major U.S. banks. 
 Determination of Treasury Rate 
 If the Base Rate specified on the face hereof is the Treasury Rate, the interest rate per annum determined with respect to any Interest Determination Date
specified on the face hereof means: 
  

	 	•	 	 the rate from the auction held on the applicable Interest Determination Date, referred to as the “auction,” of direct obligations of the United States,
which are commonly 

	 	 
referred to as “Treasury Bills,” having the Index Maturity specified on the face hereof as that rate appears under the caption “INVESTMENT
RATE” on the display on Moneyline Telerate, or any successor service, on page 56 or any other page as may replace page 56 on that service, referred to as “Telerate Page 56,” or page 57 or any other page as may replace page 57 on that
service, referred to as “Telerate Page 57”; or 

  

	 	•	 	 if the rate described in the first bullet point is not published by 3:00 p.m., New York City time, on the Calculation Date, the bond equivalent yield of the rate
for the applicable Treasury Bills as published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the caption “U.S. Government Securities/Treasury Bills/Auction
High”; or 

  

	 	•	 	 if the rate described in the second bullet point is not published by 3:00 p.m., New York City time, on the related Calculation Date, the bond equivalent yield of
the auction rate of the applicable Treasury Bills, announced by the United States Department of the Treasury; or 

  

	 	•	 	 if the rate referred to in the third bullet point is not announced by the United States Department of the Treasury, or if the auction is not held, the bond
equivalent yield of the rate on the applicable Interest Determination Date of Treasury Bills having the Index Maturity specified on the face hereof published in H.15(519) under the caption “U.S. Government Securities/Treasury Bills/Secondary
Market”; or 

  

	 	•	 	 if the rate referred to in the fourth bullet point is not so published by 3:00 p.m., New York City time, on the related Calculation Date, the rate on the applicable
Interest Determination Date of the applicable Treasury Bills as published in H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the caption “U.S. Government Securities/Treasury
Bills/Secondary Market”; or 

  

	 	•	 	 if the rate referred to in the fifth bullet point is not so published by 3:00 p.m., New York City time, on the related Calculation Date, the rate on the applicable
Interest Determination Date calculated by the Calculation Agent as the bond equivalent yield of the arithmetic mean of the secondary market bid rates, as of approximately 3:30 p.m., New York City time, on the applicable Interest Determination Date,
of three primary U.S. government securities dealers, which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent, for the issue of Treasury Bills with a remaining maturity closest to the
Index Maturity specified on the face hereof; or 

  

	 	•	 	 if the dealers selected by the Calculation Agent are not quoting as set forth above, the Treasury Rate for that Interest Determination Date will remain the Treasury
Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 The “bond equivalent yield” means a yield calculated in accordance with the following
formula and expressed as a percentage: 
  

					
	 bond equivalent yield = 
	 	D x N	 	 x 100

	 	360 – (D x M)	 

 where “D” refers to the applicable per annum rate for Treasury Bills quoted on a bank discount basis,
“N” refers to 365 or 366, as the case may be, and “M” refers to the actual number of days in the Interest Period for which interest is being calculated. 
 Determination of CMT Rate 
 If the
Base Rate specified on the face hereof is the CMT Rate, the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate displayed on the Designated CMT Telerate Page, as
defined below, under the caption “. . . Treasury Constant Maturities . . . Federal Reserve Board Release H.15 . . . Mondays Approximately 3:45 p.m.,” under the column for the Designated CMT Maturity Index, as defined below, for:

 (i) the rate on that Interest Determination Date, if the Designated CMT Telerate Page is 7051, and 
 (ii) the week or the month, as applicable, ended immediately preceding the week in which the related Interest Determination Date occurs,
if the Designated CMT Telerate Page is 7052. 
 The following procedures will be used if the CMT Rate cannot be determined as described
above: 
  

	 	•	 	 If the above rate is no longer displayed on the relevant page, or if not displayed by 3:00 p.m., New York City time, on the related Calculation Date, then the
CMT Rate will be the Treasury Constant Maturity Rate for the Designated CMT Maturity Index as published in the relevant H.15(519). 

  

	 	•	 	 If the above rate described in the first bullet point is no longer published, or if not published by 3:00 p.m., New York City time, on the related Calculation
Date, then the CMT Rate will be the Treasury Constant Maturity Rate for the Designated CMT Maturity Index or other U.S. Treasury rate for the Designated CMT Maturity Index on the Interest Determination Date as may then be published by either the
Board of Governors of the Federal Reserve System or the United States Department of the Treasury that the Calculation Agent determines to be comparable to the rate formerly displayed on the Designated CMT Telerate Page and published in the relevant
H.15(519). 

  

	 	•	 	 If the information described in the second bullet point is not provided by 3:00 p.m., New York City time, on the related Calculation Date, then the Calculation
Agent will 

	 	 
determine the CMT Rate to be a yield to maturity, based on the arithmetic mean of the secondary market closing offer side prices as of approximately
3:30 p.m., New York City time, on the Interest Determination Date, reported, according to their written records, by three leading primary U.S. government securities dealers (each a “reference dealer”) in New York, New York, which may
include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent as described in the following sentence. The Calculation Agent will select five reference dealers, after consultation with the Company, and
will eliminate the highest quotation or, in the event of equality, one of the highest, and the lowest quotation or, in the event of equality, one of the lowest, for the most recently issued direct noncallable fixed rate obligations of the United
States, which are commonly referred to as “Treasury notes,” with an original maturity of approximately the Designated CMT Maturity Index, a remaining term to maturity of no more than 1 year shorter than the Designated CMT Maturity Index
and in a principal amount that is representative for a single transaction in the securities in that market at that time. If two Treasury notes with an original maturity as described above have remaining terms to maturity equally close to the
Designated CMT Maturity Index, the quotes for the Treasury note with the shorter remaining term to maturity will be used. 

  

	 	•	 	 If the Calculation Agent cannot obtain three Treasury notes quotations as described in the immediately preceding bullet point, the Calculation Agent will determine
the CMT Rate to be a yield to maturity based on the arithmetic mean of the secondary market offer side prices as of approximately 3:30 p.m., New York City time, on the Interest Determination Date of three reference dealers in New York, New
York, selected using the same method described in the immediately preceding bullet point, for Treasury notes with an original maturity equal to the number of years closest to but not less than the Designated CMT Maturity Index and a remaining term
to maturity closest to the Designated CMT Maturity Index and in a principal amount that is representative for a single transaction in the securities in that market at that time. 

  

	 	•	 	 If three or four, and not five, of the reference dealers are quoting as described above, the CMT Rate will be based on the arithmetic mean of the offer prices
obtained and neither the highest nor the lowest of those quotes will be eliminated. 

  

	 	•	 	 If fewer than three reference dealers selected by the Calculation Agent are quoting as described above, the CMT Rate for that Interest Determination Date will
remain the CMT Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 “Designated CMT Telerate Page” means the display on Moneyline Telerate, or any successor service, on the page designated on the face hereof or any other page as may replace that page on that service for the
purpose of displaying Treasury Constant Maturities as reported in H.15(519). If no page is specified on the face hereof, the Designated CMT Telerate Page will be 7052, for the most recent week. 

 “Designated CMT Maturity Index” means the original period to maturity of the U.S. Treasury
securities which is either 1, 2, 3, 5, 7, 10, 20 or 30 years, as specified on the face hereof, for which the CMT Rate will be calculated. If no maturity is specified on the face hereof, the Designated CMT Maturity Index will be two years.

 Events of Default 
 If an Event of
Default, as defined in the Indenture, with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the
Indenture. 
 Modification and Waivers 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under
the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected, acting together as a class. The Indenture also
contains provisions permitting the Holders of a majority in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the Indenture, acting together as a class, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain past defaults under the Indenture and their consequences may be waived under the Indenture by the Holders of a majority in principal amount
of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 Defeasance and Covenant Defeasance 
 The Indenture
contains provisions for defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth therein,
which provisions apply to this Security. 
 Redemption 
 If so provided on the face hereof, the Company may at its option redeem this Security in whole or in part in increments of $5,000 (provided that any remaining principal amount of this Security shall not be less than
the minimum authorized denomination hereof) on or after the date or dates designated as the Redemption Date(s) on the face hereof at 100% of the unpaid principal amount hereof or the portion thereof redeemed, together with accrued interest, if any,
to the Redemption Date or, if a Redemption Price other than 100% of the principal amount to be redeemed is specified on the face hereof, the Redemption Price specified in the Addendum attached hereto. The Company may exercise such option by mailing
a notice of such redemption to each Holder of the Securities of this series to be redeemed by first-class mail, postage prepaid, at least 15 days and not more than 30 days prior to the applicable Redemption Date. In the event of redemption of
this Security in part only, the Company shall issue a new Security or Securities for the unredeemed 

 
portion hereof in the name of the Holder hereof upon the cancellation hereof. If less than all of the Securities of this series with like tenor and terms are
to be redeemed, the Securities to be redeemed shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate and may provide for the selection for redemption of a portion of the principal amount of the Securities of
this series held by a Holder equal to an authorized denomination. If this Security is a Global Security and if less than all of the Securities of this series are to be redeemed, the redemption shall be made in accordance with the Depositary’s
customary procedures. Unless the Company defaults in the payment of the Redemption Price, on and after the applicable Redemption Date interest will cease to accrue on this Security or portion hereof called for redemption. 
 Sinking Fund 
 Unless otherwise specified on the face
hereof, this Security will not be entitled to any sinking fund. 
 Repayment 
 If so provided on the face hereof, this Security will be repayable prior to the Stated Maturity Date at the option of the Holder, in whole or in part and
in increments of $5,000 (provided that any remaining principal amount of this Security surrendered for partial repayment shall not be less than the minimum authorized denomination hereof), on or after the date designated as an Optional Repayment
Date on the face hereof at 100% of the principal amount to be repaid, plus accrued interest, if any, to the Repayment Date or, if a Repayment Price other than 100% of the principal amount to be repaid is specified on the face hereof, at the
Repayment Price specified in the Addendum attached hereto. In order for this Security to be repaid, the Paying Agent must receive at least 30 days but not more than 45 days prior to the Optional Repayment Date this Security with the form entitled
“Option to Elect Repayment” on the reverse of this Security duly completed, or a telegram, telex, facsimile transmission or a letter from a member of a national securities exchange, or the National Association of Securities Dealers, Inc.
or a commercial bank or trust company in the United States setting forth: (a) the name of the Holder of this Security; (b) the principal amount of this Security; (c) the principal amount of this Security to be repaid; (d) the
certificate number or a description of the tenor and terms of this Security; (e) a statement that the option to elect repayment is being exercised; and (f) a guarantee that this Security, together with the duly completed form entitled
“Option to Elect Repayment,” will be received by the Paying Agent not later than the fifth Business Day after the date of the telegram, telex, facsimile transmission or letter. However, the telegram, telex, facsimile transmission or letter
will only be effective if this Security and form duly completed are received by the Paying Agent by the fifth Business Day after the date of that telegram, telex, facsimile transmission or letter. 
 Any repayment option exercised by the Holder of this Security shall be irrevocable. The repayment option may be exercised for less than the entire
principal amount of this Security, but in that event the principal amount of this Security remaining outstanding after repayment must be equal to $5,000 or an integral multiple thereof. Upon any partial repayment, this Security shall be cancelled
and a new Security or Securities for the remaining principal amount hereof shall be issued in the name of the Holder of this Security. Unless the Company defaults in the payment of the Repayment Price, on and after the applicable Repayment Date
interest will cease to accrue on this Security or portion hereof requested to be repaid. 

 Authorized Denominations 
 Unless otherwise provided on the face hereof, this Security is issuable only in registered form without coupons in denominations of $5,000 or any amount in excess thereof which is an integral multiple of $5,000.

 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 in authorized denominations for an equal aggregate principal amount
will be issued to the transferee in exchange herefor, as provided in the Indenture and subject to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental charge imposed in
connection therewith. 
 If this Security is a Global Security (as specified above), 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, redemption provisions, Stated Maturity Date and other terms
and of authorized denominations aggregating a like amount. 
 If this Security is a Global Security (as specified above), 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 principal of and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed, except as otherwise provided in this Security and except that in the event the Company
deposits money or Eligible Instruments as provided in Articles 4 and 15 of the Indenture, such payments will be made only from proceeds of such money or Eligible Instruments. 

 No Personal Recourse 
 No recourse shall be had for the payment of the principal of or the interest on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture
supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of
any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released. 
 Defined Terms 
 All terms used in this Security which are defined in the Indenture shall have the
meanings assigned to them in the Indenture unless otherwise defined in this Security. 
 Governing Law 
 This Security shall be governed by and construed in accordance with the law of the State of New York, without regard to principles of conflicts of laws.

 OPTION TO ELECT REPAYMENT 
 TO BE COMPLETED ONLY IF THIS SECURITY IS REPAYABLE 
 AT THE OPTION OF THE
HOLDER AND THE HOLDER 
 ELECTS TO EXERCISE SUCH RIGHT 
 The undersigned hereby irrevocably requests and instructs the Company to repay the within Security (or the portion thereof specified below), pursuant to
its terms, on the Optional Repayment Date first occurring after the date of receipt by the Company of the within Security, at the Repayment Price specified in the within Security, to the undersigned,
                            , at
                                        
(please print or typewrite name and address of the undersigned). 
 For this option to elect repayment to be effective, the Company must
receive, at the address of the Paying Agent set forth below or at such other place or places of which the Company shall from time to time notify the Holder of the within Security, either (i) this Security with this “Option to Elect
Repayment” form duly completed, or (ii) a telegram, telex, facsimile transmission or a letter from a member of a national securities exchange or the National Association of Securities Dealers, Inc. or a commercial bank or a trust company
in the United States setting forth (a) the name of the Holder of the Security, (b) the principal amount of the Security, (c) the principal amount of the Security to be repaid, (d) the certificate number or description of the
tenor and terms of the Security, (e) a statement that the option to elect repayment is being exercised, and (f) a guarantee stating that the Security to be repaid, together with this “Option to Elect Repayment” form duly
completed will be received by the Paying Agent not later than five Business Days after the date of such telegram, facsimile transmission or letter (and such Security and form duly completed are received by the Company by such fifth Business Day).
The address of the Paying Agent is Wells Fargo Bank, N.A., Sixth and Marquette, Minneapolis, Minnesota 55479. 
 If less than the entire
principal amount of the within Security is to be repaid, specify the portion thereof (which shall be an integral multiple of $5,000) which the Holder elects to have repaid:
$            . 

 If less than the entire principal amount of the within Security is to be repaid, specify the denomination
or denominations (which shall be $5,000 or an integral multiple thereof) of the Security or Securities to be issued to the Holder for the portion of the within Securities not being repaid (in the absence of any specification, one such Security will
be issued for the portion not being repaid): $            . 
  

							
	 Date:
	 	  	 		 	  

 Notice: The signature to this Option to Elect Repayment must correspond with the name as written upon page 2 of the
within Security in every particular without alteration or enlargement or any change whatsoever. 

 OPTION TO EXTEND MATURITY 
 The undersigned hereby elects to extend the maturity of the Wells Fargo & Company Medium-Term Note, Series G, Senior Extendible Floating Rate
Note, No. 1 (CUSIP                     ) (or the portion thereof specified below) with the effect provided in said Security by
surrendering said Security to the Paying Agent at Wells Fargo Bank, N.A. at Sixth and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust Operations, or such other address of which the Company shall from time to time notify
the Holders of the Securities, in the event of an election to extend the maturity of only a portion of the principal amount of said Security, together with this form of “Option to Extend Maturity” duly completed by the Holder of said
Security. 
 If the option to extend the maturity of less than the entire principal amount of said Security is elected, specify the portion
of said Security (which shall be $5,000 or an integral multiple of $1,000 in excess thereof) as to which the Holder elects to extend the maturity: $              ; and specify the
denomination or denominations (which shall be $5,000 or an integral multiple of $1,000 in excess thereof) of the Securities in the form attached to said Security as Exhibit A to be issued to the holder for the portion of said Security as to which
the option to extend the maturity is not being elected (in the absence of any such specification one such Security in the form of said Exhibit A will be issued for the portion as to which the option to extend maturity is not being made):
$             . 
  

							
	 Dated:
	 	  	 		 	  
		 		 		 	NOTICE: The signature on this Option to Extend Maturity must correspond with the name as written upon the face of the Security in every particular, without alteration or enlargement or any
change whatever.

 SCHEDULE I 
 SCHEDULE OF EXCHANGES 
 The initial principal amount of this Security is $3,000,000,000. The
following exchanges of a portion of this Security for an interest in a Short-Term Security have been made: 
  

													
	 Date of
 Exchanges
  
	  	 	  	 Principal
 Amount
 Exchanged for
 Short-Term
 Security
  
	  	 	  	 Reduced
 Principal
 Amount
 Outstanding
 Following Such
 Exchange
  
	  	 	  	 Notation Made by
 or on Behalf of
 Trustee
  

	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  
	  	  		  	  	  		  	  	  		  	  

 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)

 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. 

 EXHIBIT A TO SENIOR EXTENDIBLE FLOATING RATE NOTE 
  

									
	CUSIP NO.                     	 	[Face of Note]	 	PRINCIPAL AMOUNT: $             
	REGISTERED NO.	 		 		  	

 WELLS FARGO & COMPANY 
 MEDIUM TERM NOTE, SERIES G 
 Due Nine Months or More From Date of Issue

  ̈  Check this box if this Security
is a Global Security. 
 Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York
corporation (“DTC”), to the Issuer 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. 

					
	ORIGINAL ISSUE DATE: March 28, 2007	  	ISSUE PRICE: 100%	  	STATED MATURITY DATE:                      or, if such day is not a
Business Day, the immediately preceding Business Day
			
	INTEREST ACCRUAL DATE: [Insert date of issuance of Short-term Security]	  	BASE RATE: LIBOR Reuters. To determine LIBOR Reuters, the Designated LIBOR Page is Page LIBOR01 as displayed on Reuters Money 3000 Service or any successor service (or such other page as may
replace Page LIBOR01 on that service or successor service) for the purpose of displaying the London interbank rates of major banks for U.S. Dollars or its designated successor.	  	INITIAL INTEREST RATE: [Insert the rate of interest determined in accordance with the Predecessor Security (i) on the Interest Reset Date with respect to the Predecessor Security
occurring on the Interest Accrual Date or (ii) if no such Interest Reset Date occurred on the Interest Accrual Date, on the Interest Reset Date with respect to the Predecessor Security occurring immediately preceding the Interest Accrual
Date]
			
	INITIAL INTEREST PAYMENT DATE:
                            	  	INTEREST PAYMENT DATES: The 18th day of each
month	  	INTEREST DETERMINATION DATES: Second London Banking Day prior to each Interest Reset Date
			
	CALCULATION DATES: See below	  	MAXIMUM INTEREST RATE: N/A	  	MINIMUM INTEREST RATE: N/A
			
	INTEREST RESET PERIOD: Monthly	  	INTEREST RESET DATES: The 18th day of each month	  	INITIAL INTEREST RESET DATE: [Insert the first Interest Reset Date after the Interest Accrual Date]
			
	SPREAD MULTIPLIER: N/A	  	 SPREAD:
  
 Minus 0.04% from the Original Issue Date to but excluding April 18, 2008
  
 Minus 0.02% from and including April 18, 2008 to but excluding April 18, 2009
  
 0.00% from and including April 18, 2009 to but excluding April 18, 2010
  
 Plus 0.01% from and including April 18, 2010 to but excluding April 18, 2011
  
 Plus 0.02% from and including April 18, 2011 to but excluding April 18, 2012
  
 Plus 0.02% from and including April 18, 2012 to but excluding the Final Maturity Date
	  	INDEX MATURITY: One month
			
	REGULAR RECORD DATES: The fifteenth calendar day, whether or not a Business Day, prior to the Interest Payment Date	  	 DESIGNATED CMT MATURITY
 INDEX AND DESIGNATED

TELERATE PAGE
 (Only applicable if the Base Rate
 is CMT): N/A
	  	 DESIGNATED LIBOR PAGE
 (Only applicable if the Base Rate
is
 LIBOR):
  ̈ LIBOR Telerate (p.     )
  
 x LIBOR Reuters (p. LIBOR 01.) as displayed on Reuters Money 3000 Service or any successor service (or such other
page as may replace Page LIBOR01 on that service or successor service) for the purpose of displaying the London interbank rates of major banks for U.S. Dollars or its designated successor

					
	 INDEX CURRENCY
 (Only applicable if the Base Rate is
LIBOR): U.S. Dollars
	  	CALCULATION AGENT: Wells Fargo Bank, N.A.	  	 OPTIONAL REDEMPTION
 (at option of Company):
Yes

			
	 REDEMPTION PRICE:
 x 100%
  ̈ Other
	  	 REDEMPTION DATE(S)
 (at option of Company): Any Interest
Payment Date on or after April 18, 2012
	  	SINKING FUND: N/A
			
	OPTION TO ELECT REPAYMENT: N/A	  	 REPAYMENT PRICE:
  ̈ 100%
  ̈ Other
 N/A
	  	OPTIONAL REPAYMENT DATE(S): N/A
			
	 MINIMUM DENOMINATIONS:
 x U.S. $5,000
  ̈ Other
	  	 DEPOSITARY
 (Only applicable if this Security is
a
 Global Security): The Depository Trust Company
	  	SPECIFIED CURRENCY: U.S. Dollars
			
	OTHER/ADDITIONAL TERMS: N/A	  	ADDENDUM ATTACHED: No	  	

 WELLS FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of
Delaware (hereinafter called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, the principal
amount of
                                        
Dollars ($            ) on the Stated Maturity Date specified above and to pay interest, if any, on the principal amount hereof on the Interest Payment Dates specified above,
commencing with the Initial Interest Payment Date specified above following the Interest Accrual Date specified above, at a rate per annum equal to the Initial Interest Rate specified above until the Initial Interest Reset Date specified above
following the Interest Accrual Date specified above, and thereafter (except to the extent redeemed at the option of the Company) at a rate per annum determined by the Calculation Agent in accordance with the provisions specified above and on the
reverse hereof under the heading “Determination of CD Rate”, “Determination of Commercial Paper Rate”, “Determination of EURIBOR”, “Determination of Federal Funds Rate”, “Determination of Federal Funds
(Open) Rate”, “Determination of LIBOR”, “Determination of Prime Rate”, “Determination of Treasury Rate” or “Determination of CMT Rate,” as applicable. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date next preceding
such Interest Payment Date. Interest payable upon Maturity will be paid to the Person to whom principal is payable. The Regular Record Date for an Interest Payment Date shall be the fifteenth calendar day, whether or not a Business Day, prior to
such Interest Payment Date. 
 If an Interest Payment Date falls on a day that is not a Business Day, such Interest Payment Date will be
postponed to the following day that is a Business Day, except that, (i) if the Base Rate specified above is LIBOR or EURIBOR and such following Business Day is in the next calendar month or (ii) such Interest Payment Date is also the
originally scheduled Stated Maturity Date (prior to the modification provided on the face of this security with respect to the Stated Maturity Date), such Interest Payment Date shall be the immediately preceding day that is a Business Day. The final
Interest Payment Date for this Security will be the Stated Maturity Date and interest payable on the Stated Maturity Date will accrue from and including the Interest Payment Date immediately preceding the Stated Maturity Date to but excluding the
Stated Maturity Date. For purposes of this Security, “Business Day” means a day other than a Saturday or Sunday (i) that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or
regulation to close (a) in New York, New York or Minneapolis, Minnesota, (b) if this Security is denominated in a Specified Currency other than U.S. dollars, euro or Australian dollars, in the principal financial center of the country of
the Specified Currency or (c) if this Security is denominated in Australian dollars, in Sydney, Australia and (ii) if this Security is denominated in euro, that is also a TARGET Settlement Day. For purposes of this Security, “TARGET
Settlement Day” means any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer System is open. 
 Interest payments on this Security shall be the amount of interest accrued from and including the Interest Accrual Date specified above or from and including the last date to which interest has been paid, or provided for, as the case may
be, to but excluding, the following Interest Payment Date or the Stated Maturity Date or earlier Redemption Date. This period is 

 
referred to as an “Interest Period.” If this Security has been issued upon transfer of, in exchange for, or in replacement of, a Predecessor
Security, interest on this Security shall accrue from the last Interest Payment Date to which interest was paid on such Predecessor Security or, if no interest was paid on such Predecessor Security, from the Original Issue Date specified above. The
first payment of interest on a Security originally issued and dated between a Regular Record Date specified above and an Interest Payment Date will be due and payable on the Interest Payment Date following the next succeeding Regular Record Date to
the registered owner on such next succeeding Regular Record Date. 
 Notwithstanding the foregoing, if an Addendum is attached hereto or
“Other/Additional Terms” apply to this Security as specified above, this Security shall be subject to the terms set forth in such Addendum or such “Other/Additional Terms.” 
 The principal (and premium, if any) and interest on this Security is payable by the Company in the Specified Currency specified above. 
 Any interest not punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series
may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 
 Payment of interest
on this Security other than payments of interest at Maturity will be paid by check mailed to the Person entitled thereto at such Person’s last address as it appears in the Security Register or by wire transfer to such account as may have been
designated by such Person. Payment of principal of and interest on this Security at Maturity will be made against presentation of this Security at the office or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota.
Notwithstanding the foregoing, for so long as this Security is a Global Security registered in the name of the Depositary, payments of principal and interest on this Security will be made to the Depositary by wire transfer of immediately available
funds. 
 The Company will pay any administrative costs imposed by banks on payors in making payments on this Security in immediately
available funds and the Holder of this Security shall pay any administrative costs imposed by banks on payees in connection with such payments. Any tax, assessment or governmental charge imposed upon payments on this Security will be borne by the
Holder of this Security. 
 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. 

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

 DATED:
                             
  

					
		 	WELLS FARGO & COMPANY
			
		 	By:	 	  

	[SEAL]	 		 	
		 	Attest:	 	  

  

			
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION
 This is one of the Securities of the
 series designated therein referred to
 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

 [Reverse of Note] 
 WELLS FARGO & COMPANY 
 MEDIUM-TERM NOTE, SERIES G 
 SENIOR FLOATING RATE NOTE 
 Due Nine
Months or More From Date of Issue 
 General 
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999, as amended or
supplemented from time to time (herein called the “Indenture”), between the Company and Citibank, N.A., as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture
and all indentures supplemental thereto, reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon
which the Securities are, and are to be, authenticated and delivered. This Security is one of the series of the Securities designated as Medium-Term Notes, Series G, of the Company, which series is limited to an aggregate principal amount of
$25,000,000,000 or the equivalent thereof in one or more foreign or composite currencies minus the aggregate principal amount of the Company’s Subordinated Medium-Term Notes, Series H which may be issued from time to time. The Securities of
this series may mature at different times, bear interest, if any, at different rates, be redeemable at different times or not at all, be repayable at the option of the Holder at different times or not at all, be issued at an original issue discount
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. 
 Interest Rate Reset 
 The
interest rate in effect from the Interest Accrual Date to the Initial Interest Reset Date specified on the face hereof shall be the Initial Interest Rate specified on the face hereof. Commencing with the Initial Interest Reset Date specified on the
face hereof following the Interest Accrual Date specified on the face hereof, the interest rate on this Security will be reset daily, weekly, monthly, quarterly, semiannually or annually as specified on the face hereof under “Interest Reset
Period”. Each such adjusted rate shall be applicable from and including the Interest Reset Date to which it relates to but not including the next succeeding Interest Reset Date or until Maturity, as the case may be. On each Interest Reset Date,
the rate of interest on this Security shall be the rate determined with respect to the Interest Determination Date next preceding such Interest Reset Date in accordance with the provisions of the applicable heading below and adjusted by the addition
or subtraction of the Spread, if any, specified on the face hereof, and/or by the multiplication by the Spread Multiplier, if any, specified on the face hereof. 

 If any Interest Reset Date would otherwise be a day that is not a Business Day, such Interest Reset Date
will be postponed to the following Business Day, except that if the Base Rate specified above is LIBOR or EURIBOR and if such following Business Day is in the next calendar month, such Interest Reset Date shall be the immediately preceding Business
Day. 
 The amount of interest to be paid on this Security for each Interest Period will be calculated by multiplying the principal amount of
this Security by an accrued interest factor. The “accrued interest factor” will be computed by adding the interest factors calculated for each day in the Interest Period. The “interest factor” for each day is computed by dividing
the interest rate applicable to that day: 
  

	 	·	 	 by 360, if the Base Rate is the CD Rate, the Commercial Paper Rate, EURIBOR, Federal Funds Rate, Federal Funds (Open) Rate, LIBOR, except for LIBOR Securities for
which the Index Currency is pounds sterling, or Prime Rate; 

  

	 	·	 	 by 365 (or 366 if the last day of the Interest Period falls in a leap year) if the Base Rate is LIBOR and the Index Currency is pounds sterling; or

  

	 	·	 	 by the actual number of days in the year, if the Base Rate is the Treasury Rate or the CMT Rate. 

 Unless otherwise specified on the face hereof, all percentages resulting from any calculation referred to herein shall be rounded, if necessary, to the
nearest one hundred-thousandth of a percentage point, with .000005% rounded up to .00001% and all U.S. dollar amounts used in or resulting from any of the above calculations will be rounded, if necessary, to the nearest cent, with one-half cent
rounded upward. If the Japanese Yen is the Index Currency, all Japanese Yen amounts used in or resulting from these calculations will be rounded downward to the next lower Japanese Yen amount. All amounts denominated in any other currency used in or
resulting from these calculations will be rounded to the nearest two decimal places in that currency, with .005 round up to.01. 
 Notwithstanding the foregoing, the interest rate per annum hereon shall not be greater than the Maximum Interest Rate, if any, or less than the Minimum Interest Rate, if any, specified on the face hereof. The Calculation Agent shall
calculate the interest rate hereon in accordance with the foregoing on or before each Calculation Date. 
 The interest rate on this Security
shall in no event be higher than the maximum rate permitted by New York law, as the same may be modified by United States law of general application. 
 At the request of the Holder hereof, the Calculation Agent shall provide to the Holder hereof the interest rate hereon then in effect and, if determined, the interest rate that will become effective on the next
Interest Reset Date with respect to this Security. The Calculation Agent’s determination of any interest rate shall be final and binding in the absence of manifest error. The Calculation Agent shall notify the Paying Agent of each determination
of the interest applicable to this Security promptly after the determination is made. 

 A “Calculation Date”, where applicable, for any Interest Determination Date will be the earlier
of: 
  

	 	·	 	 the tenth calendar day after that Interest Determination Date or, if that day is not a Business Day, the next Business Day; or 

  

	 	·	 	 the Business Day immediately preceding the applicable Interest Payment Date or date of Maturity. 

 Determination of CD Rate 
 If the Base Rate specified
on the face hereof is the CD Rate, the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate on that date for negotiable U.S. dollar certificates of deposit having the
Index Maturity specified on the face hereof as published by the Board of Governors of the Federal Reserve System in “Statistical Release H.15(519), Selected Interest Rates,” or any successor publication of the Board of Governors of
the Federal Reserve System (“H.15(519)”) under the heading “CDs (Secondary Market).” 
 The following procedures will be
followed if the CD Rate cannot be determined as described above: 
  

	 	·	 	 If the above rate is not published in H.15(519) by 3:00 p.m., New York City time, on the Calculation Date, the CD Rate will be the rate on that Interest
Determination Date set forth in the daily update of H.15(519), available through the website of the Board of Governors of the Federal Reserve System at http://www.federalreserve.gov/releases/h15/update, or any successor site or publication (the
“H.15 Daily Update”) for the Interest Determination Date for certificates of deposit having the Index Maturity specified on the face hereof, under the caption “CDs (Secondary Market).” 

  

	 	·	 	 If the above rate is not yet published in either H.15(519) or the H.15 Daily Update by 3:00 p.m., New York City time, on the Calculation Date, the Calculation
Agent will determine the CD Rate to be the arithmetic mean of the secondary market offered rates as of 10:00 a.m., New York City time, on that Interest Determination Date of three leading nonbank dealers in negotiable U.S. dollar certificates
of deposit in New York, New York which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent, after consultation with the Company, for negotiable U.S. dollar certificates of deposit of major
U.S. money center banks of the highest credit standing in the market for negotiable certificates of deposit with a remaining maturity closest to the Index Maturity specified on the face hereof in an amount that is representative for a single
transaction in that market at that time. 

  

	 	·	 	 If the dealers selected by the Calculation Agent are not quoting as set forth above, the CD Rate for that Interest Determination Date will remain the CD Rate for
the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 Determination of Commercial Paper Rate 
 If the Base Rate specified on the face hereof is the Commercial Paper Rate, the interest rate per annum determined with respect to any Interest
Determination Date specified on the face hereof shall equal the Money Market Yield (as defined below), calculated as described below, of the rate on that date for U.S. dollar commercial paper having the Index Maturity specified on the face hereof,
as that rate is published in H.15(519), under the heading “Commercial Paper—Nonfinancial.” 
 The following procedures will be
followed if the Commercial Paper Rate cannot be determined as described above: 
  

	 	·	 	 If the above rate is not published by 3:00 p.m., New York City time, on the Calculation Date, then the Commercial Paper Rate will be the Money Market Yield of the
rate on that Interest Determination Date for commercial paper of the Index Maturity specified on the face hereof as published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate,
under the heading “Commercial Paper—Nonfinancial.” 

  

	 	·	 	 If by 3:00 p.m., New York City time, on that Calculation Date the rate is not yet published in either H.15(519) or the H.15 Daily Update, or other recognized
electronic source used for the purpose of displaying the applicable rate, then the Calculation Agent will determine the Commercial Paper Rate to be the Money Market Yield of the arithmetic mean of the offered rates as of 11:00 a.m., New York
City time, on that Interest Determination Date of three leading dealers of U.S. dollar commercial paper in New York, New York, which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent,
after consultation with the Company, for commercial paper of the Index Maturity specified on the face hereof, placed for an industrial issuer whose bond rating is “Aa,” or the equivalent, from a nationally recognized statistical rating
agency. 

  

	 	·	 	 If the dealers selected by the Calculation Agent are not quoting as set forth above, the Commercial Paper Rate for the Interest Determination Date will remain the
Commercial Paper Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 “Money Market Yield” will be a yield calculated in accordance with the following formula: 
  

					
		 		  	
	 Money Market Yield =
	 	 D x 360
  
	  	x 100
	 	360 – (D x M)	  
		 		  	

 where “D” refers to the applicable per year rate for commercial paper quoted on a bank discount basis
and expressed as a decimal and “M” refers to the actual number of days in the Interest Period for which interest is being calculated. 

 Determination of EURIBOR 
 If the Base Rate specified on the face hereof is EURIBOR, the interest rate per annum determined with respect to any Interest Determination Date specified
on the face hereof shall equal the rate for deposits in euros as sponsored, calculated and published jointly by the European Banking Federation and ACI — The Financial Market Association, or any company established by the joint sponsors
for purposes of compiling and publishing those rates, for the Index Maturity specified on the face hereof as that rate appears on the display on Moneyline Telerate, or any successor service, on page 248 or any other page as may replace page 248 on
that service, which is referred to as “Telerate Page 248,” as of 11:00 a.m., Brussels time. 
 The following procedures will be
followed if the EURIBOR Rate cannot be determined as described above: 
  

	 	·	 	 If the above rate does not appear, the Calculation Agent will request the principal Euro-zone office of each of four major banks in the Euro-zone interbank market,
as selected by the Calculation Agent, after consultation with the Company, to provide the Calculation Agent with its offered rate for deposits in euros, at approximately 11:00 a.m., Brussels time, on the Interest Determination Date, to prime banks
in the Euro-zone interbank market for the Index Maturity specified on the face hereof commencing on the applicable Interest Reset Date, and in a principal amount not less than the equivalent of U.S. $1 million in euro that is representative of a
single transaction in euro, in that market at that time. If at least two quotations are provided, EURIBOR will be the arithmetic mean of those quotations. 

  

	 	·	 	 If fewer than two quotations are provided, EURIBOR will be the arithmetic mean of the rates quoted by four major banks in the Euro-zone interbank market, as
selected by the Calculation Agent, after consultation with the Company, at approximately 11:00 a.m., Brussels time, on the applicable Interest Reset Date for loans in euro to leading European banks for a period of time equivalent to the Index
Maturity specified on the face hereof commencing on that Interest Reset Date in a principal amount not less than the equivalent of U.S. $1 million in euro. 

  

	 	·	 	 If the banks so selected by the Calculation Agent are not quoting as set forth above, EURIBOR for that Interest Determination Date will remain EURIBOR for the
immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 “Euro-zone” means the region comprising member states of the European Union that have adopted the single currency in accordance with the relevant treaty of the European Union, as amended. 
 Determination of Federal Funds Rate 
 If the Base Rate specified on the face hereof is the Federal Funds Rate, the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate on that date for U.S. dollar
federal funds as published in H.15(519) 

 
under the heading “Federal Funds (Effective)” as displayed on Moneyline Telerate, or any successor service, on page 120 or any other page as
may replace the applicable page on that service (“Telerate Page 120”). 
 The following procedures will be followed if the Federal
Funds Rate cannot be determined as described above: 
  

	 	·	 	 If the above rate is not published by 3:00 p.m., New York City time, on the Calculation Date, the Federal Funds Rate will be the rate on that Interest Determination
Date as published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the heading “Federal Funds (Effective).” 

  

	 	·	 	 If the above rate is not yet published in either H.15(519) or H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the
applicable rate, by 3:00 p.m., New York City time, on the Calculation Date, the Calculation Agent will determine the Federal Funds Rate to be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar federal funds prior
to 9:00 a.m., New York City time, on that Interest Determination Date, by each of three leading brokers of U.S. dollar federal funds transactions in New York, New York, which may include the agents for the Securities of this series or their
affiliates, selected by the Calculation Agent, after consultation with the Company. 

  

	 	·	 	 If the brokers selected by the Calculation Agent are not quoting as set forth above, the Federal Funds Rate for that Interest Determination Date will remain the
Federal Funds Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 Determination of Federal Funds (Open) Rate 
 If the Base Rate specified on the face hereof is the
Federal Funds (Open) Rate, the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate on that date for U.S. dollar federal funds as published in H.15(519) under the
heading “Federal Funds (Open)” as displayed on Moneyline Telerate, or any successor service, on page 5 or any other page as may replace the applicable page on that service (“Telerate Page 5”). 
 The following procedures will be followed if the Federal Funds (Open) Rate cannot be determined as described above: 
  

	 	·	 	 If the above rate is not published by 3:00 p.m., New York City time, on the Calculation Date, the Federal Funds (Open) Rate will be the rate on that Interest
Determination Date as published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the heading “Federal Funds (Open).” 

	 	·	 	 If the above rate is not yet published in either H.15(519) or the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the
applicable rate, by 3:00 p.m., New York City time, on the Calculation Date, the Calculation Agent will determine the Federal Funds (Open) Rate to be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar federal funds
(based on the Federal Funds (Open) Rate) prior to 9:00 a.m., New York City time, on that Interest Determination Date, by each of three leading brokers of U.S. dollar federal funds transactions in New York, New York, which may include the agents for
the Securities of this series or their affiliates, selected by the Calculation Agent, after consultation with the Company. 

  

	 	·	 	 If the brokers selected by the Calculation Agent are not quoting as set forth above, the Federal Funds (Open) Rate for that Interest Determination Date will remain
the Federal Funds (Open) Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 Determination of LIBOR 
 If the Base
Rate specified on the face hereof is LIBOR, the interest rate per annum shall be determined by the Calculation Agent for each Interest Determination Date specified on the face hereof as follows: 
 As of the Interest Determination Date, LIBOR will be either LIBOR Reuters or LIBOR Telerate: 
  

	 	·	 	 if “LIBOR Reuters” is specified on the face hereof, the arithmetic mean of the offered rates for deposits in the Index Currency having the Index Maturity
designated on the face hereof, commencing on the second London Banking Day, as defined below, immediately following that Interest Determination Date, or, if pounds sterling is the Index Currency, commencing on that Interest Determination Date, that
appear on the Designated LIBOR Page as of 11:00 a.m., London time, on that Interest Determination Date, if at least two offered rates appear on the Designated LIBOR Page; except that if the specified Designated LIBOR Page by its terms provides only
for a single rate, that single rate will be used; or 

  

	 	·	 	 if “LIBOR Telerate” is specified on the face hereof, the rate for deposits in the Index Currency having the Index Maturity designated on the face hereof,
commencing on the second London Banking Day immediately following that Interest Determination Date or, if pounds sterling is the Index Currency, commencing on that Interest Determination Date, that appears on the Designated LIBOR Page at
approximately 11:00 a.m., London time, on that Interest Determination Date. 

  

	 	·	 	 If (i) fewer than two offered rates appear and “LIBOR Reuters” is specified on the face hereof, or (ii) no rate appears and either
(a) “LIBOR Telerate” is specified on the face hereof or (b) “LIBOR Reuters” is specified on the face hereof and the Designated LIBOR Page by its terms provides only for a single rate, then the 

	 	 
Calculation Agent will request the principal London offices of each of four major banks in the London interbank market, as selected by the Calculation Agent,
to provide the Calculation Agent with its offered quotation for deposits in the Index Currency for the period of the Index Maturity specified on the face hereof commencing on the second London Banking Day immediately following the Interest
Determination Date or, if pounds sterling is the Index Currency, commencing on that Interest Determination Date, to prime banks in the London interbank market at approximately 11:00 a.m., London time, on that Interest Determination Date and in a
principal amount that is representative of a single transaction in that Index Currency in that market at that time. 

  

	 	·	 	 If at least two quotations are provided, LIBOR determined on that Interest Determination Date will be the arithmetic mean of those quotations. If fewer than two
quotations are provided, LIBOR will be determined for the applicable Interest Reset Date as the arithmetic mean of the rates quoted at approximately 11:00 a.m., or some other time specified on the face hereof, in the applicable principal financial
center for the country of the Index Currency on that Interest Reset Date, by three major banks in that principal financial center selected by the Calculation Agent for loans in the Index Currency to leading European banks, having the Index Maturity
specified on the face hereof and in a principal amount that is representative of a single transaction in that Index Currency in that market at that time. 

  

	 	·	 	 If the banks so selected by the Calculation Agent are not quoting as set forth above, LIBOR for that Interest Determination Date will remain LIBOR for the
immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 The “Index Currency” means the currency specified on the face hereof as the currency for which LIBOR will be calculated or, if the euro is substituted for that currency, the Index Currency will be the euro. If no currency is
specified on the face hereof, the Index Currency will be U.S. dollars. 
 “Designated LIBOR Page” means either (i) if
“LIBOR Reuters” is designated on the face hereof, the display on the Reuters Money 3000 Service for the purpose of displaying the London interbank rates of major banks for the applicable Index Currency or its designated successor, or
(ii) if “LIBOR Telerate” is designated on the face hereof, the display on Moneyline Telerate, or any successor service, on the page specified on the face hereof, or any other page as may replace that page on that service, for the
purpose of displaying the London interbank rates of major banks for the applicable Index Currency. 
 “Euro LIBOR Securities” means
LIBOR debt securities for which the Index Currency is euros. 
 “London Banking Day” means any day on which dealings in deposits in
the Index Currency specified above are transacted in the London interbank market. 

 Determination of Prime Rate 
 If the Base Rate specified on the face hereof is the Prime Rate, the interest rate per annum determined with respect to any Interest Determination Date
specified on the face hereof shall equal the rate on that date as published in H.15(519) under the heading “Bank Prime Loan.” 
 The following procedures will be followed if the Prime Rate cannot be determined as described above: 
  

	 	·	 	 If the above rate is not published prior to 3:00 p.m., New York City time, on the Calculation Date, then the Prime Rate will be the rate on that Interest
Determination Date as published in the H.15 Daily Update under the heading “Bank Prime Loan.” 

  

	 	·	 	 If the rate is not published in either H.15(519) or the H.15 Daily Update by 3:00 p.m., New York City time, on the Calculation Date, then the Calculation Agent will
determine the Prime Rate to be the arithmetic mean of the rates of interest publicly announced by each bank that appears on the Reuters Screen USPRIME 1 Page, as defined below, as that bank’s prime rate or base lending rate as in effect for
that Interest Determination Date. 

  

	 	·	 	 If fewer than four rates for that Interest Determination Date appear on the Reuters Screen USPRIME 1 Page by 3:00 p.m., New York City time, on the Calculation Date,
the Calculation Agent will determine the Prime Rate to be the arithmetic mean of the prime rates quoted on the basis of the actual number of days in the year divided by 360 as of the close of business on that Interest Determination Date by at least
three major banks in New York, New York, which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent, after consultation with the Company. 

  

	 	·	 	 If the banks selected by the Calculation Agent are not quoting as set forth above, the Prime Rate for that Interest Determination Date will remain the Prime Rate
for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 “Reuters Screen USPRIME 1 Page” means the display designated as page “USPRIME 1” on the Reuters Money 3000 Service, or any successor service, or any other page as may replace the USPRIME 1 Page on that service for the
purpose of displaying prime rates or base lending rates of major U.S. banks. 
 Determination of Treasury Rate 
 If the Base Rate specified on the face hereof is the Treasury Rate, the interest rate per annum determined with respect to any Interest Determination Date
specified on the face hereof means: 
  

	 	·	 	 the rate from the auction held on the applicable Interest Determination Date, referred to as the “auction,” of direct obligations of the United States,
which are commonly 

	 	 
referred to as “Treasury Bills,” having the Index Maturity specified on the face hereof as that rate appears under the caption “INVESTMENT
RATE” on the display on Moneyline Telerate, or any successor service, on page 56 or any other page as may replace page 56 on that service, referred to as “Telerate Page 56,” or page 57 or any other page as may replace page 57 on that
service, referred to as “Telerate Page 57”; or 

  

	 	·	 	 if the rate described in the first bullet point is not published by 3:00 p.m., New York City time, on the Calculation Date, the bond equivalent yield of the rate
for the applicable Treasury Bills as published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the caption “U.S. Government Securities/Treasury Bills/Auction
High”; or 

  

	 	·	 	 if the rate described in the second bullet point is not published by 3:00 p.m., New York City time, on the related Calculation Date, the bond equivalent yield of
the auction rate of the applicable Treasury Bills, announced by the United States Department of the Treasury; or 

  

	 	·	 	 if the rate referred to in the third bullet point is not announced by the United States Department of the Treasury, or if the auction is not held, the bond
equivalent yield of the rate on the applicable Interest Determination Date of Treasury Bills having the Index Maturity specified on the face hereof published in H.15(519) under the caption “U.S. Government Securities/Treasury Bills/Secondary
Market”; or 

  

	 	·	 	 if the rate referred to in the fourth bullet point is not so published by 3:00 p.m., New York City time, on the related Calculation Date, the rate on the applicable
Interest Determination Date of the applicable Treasury Bills as published in H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the caption “U.S. Government Securities/Treasury
Bills/Secondary Market”; or 

  

	 	·	 	 if the rate referred to in the fifth bullet point is not so published by 3:00 p.m., New York City time, on the related Calculation Date, the rate on the applicable
Interest Determination Date calculated by the Calculation Agent as the bond equivalent yield of the arithmetic mean of the secondary market bid rates, as of approximately 3:30 p.m., New York City time, on the applicable Interest Determination Date,
of three primary U.S. government securities dealers, which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent, for the issue of Treasury Bills with a remaining maturity closest to the
Index Maturity specified on the face hereof; or 

  

	 	·	 	 if the dealers selected by the Calculation Agent are not quoting as set forth above, the Treasury Rate for that Interest Determination Date will remain the Treasury
Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 The “bond equivalent yield” means a yield calculated in accordance with the following
formula and expressed as a percentage: 
  

					
		 		  	
	 bond equivalent yield =
	 	 D x N
  
	  	x 100
		 	360 – (D x M)	  	
		 		  	

 where “D” refers to the applicable per annum rate for Treasury Bills quoted on a bank discount basis,
“N” refers to 365 or 366, as the case may be, and “M” refers to the actual number of days in the Interest Period for which interest is being calculated. 
 Determination of CMT Rate 
 If the
Base Rate specified on the face hereof is the CMT Rate, the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate displayed on the Designated CMT Telerate Page, as
defined below, under the caption “. . . Treasury Constant Maturities . . . Federal Reserve Board Release H.15 . . . Mondays Approximately 3:45 p.m.,” under the column for the Designated CMT Maturity Index, as defined below, for:

 (i) the rate on that Interest Determination Date, if the Designated CMT Telerate Page is 7051, and 
 (ii) the week or the month, as applicable, ended immediately preceding the week in which the related Interest Determination Date occurs,
if the Designated CMT Telerate Page is 7052. 
 The following procedures will be used if the CMT Rate cannot be determined as described
above: 
  

	 	·	 	 If the above rate is no longer displayed on the relevant page, or if not displayed by 3:00 p.m., New York City time, on the related Calculation Date, then the
CMT Rate will be the Treasury Constant Maturity Rate for the Designated CMT Maturity Index as published in the relevant H.15(519). 

  

	 	·	 	 If the above rate described in the first bullet point is no longer published, or if not published by 3:00 p.m., New York City time, on the related Calculation
Date, then the CMT Rate will be the Treasury Constant Maturity Rate for the Designated CMT Maturity Index or other U.S. Treasury rate for the Designated CMT Maturity Index on the Interest Determination Date as may then be published by either the
Board of Governors of the Federal Reserve System or the United States Department of the Treasury that the Calculation Agent determines to be comparable to the rate formerly displayed on the Designated CMT Telerate Page and published in the relevant
H.15(519). 

  

	 	·	 	 If the information described in the second bullet point is not provided by 3:00 p.m., New York City time, on the related Calculation Date, then the Calculation
Agent will 

	 	 
determine the CMT Rate to be a yield to maturity, based on the arithmetic mean of the secondary market closing offer side prices as of approximately
3:30 p.m., New York City time, on the Interest Determination Date, reported, according to their written records, by three leading primary U.S. government securities dealers (each a “reference dealer”) in New York, New York, which may
include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent as described in the following sentence. The Calculation Agent will select five reference dealers, after consultation with the Company, and
will eliminate the highest quotation or, in the event of equality, one of the highest, and the lowest quotation or, in the event of equality, one of the lowest, for the most recently issued direct noncallable fixed rate obligations of the United
States, which are commonly referred to as “Treasury notes,” with an original maturity of approximately the Designated CMT Maturity Index, a remaining term to maturity of no more than 1 year shorter than the Designated CMT Maturity Index
and in a principal amount that is representative for a single transaction in the securities in that market at that time. If two Treasury notes with an original maturity as described above have remaining terms to maturity equally close to the
Designated CMT Maturity Index, the quotes for the Treasury note with the shorter remaining term to maturity will be used. 

  

	 	·	 	 If the Calculation Agent cannot obtain three Treasury notes quotations as described in the immediately preceding bullet point, the Calculation Agent will determine
the CMT Rate to be a yield to maturity based on the arithmetic mean of the secondary market offer side prices as of approximately 3:30 p.m., New York City time, on the Interest Determination Date of three reference dealers in New York, New
York, selected using the same method described in the immediately preceding bullet point, for Treasury notes with an original maturity equal to the number of years closest to but not less than the Designated CMT Maturity Index and a remaining term
to maturity closest to the Designated CMT Maturity Index and in a principal amount that is representative for a single transaction in the securities in that market at that time. 

  

	 	·	 	 If three or four, and not five, of the reference dealers are quoting as described above, the CMT Rate will be based on the arithmetic mean of the offer prices
obtained and neither the highest nor the lowest of those quotes will be eliminated. 

  

	 	·	 	 If fewer than three reference dealers selected by the Calculation Agent are quoting as described above, the CMT Rate for that Interest Determination Date will
remain the CMT Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 “Designated CMT Telerate Page” means the display on Moneyline Telerate, or any successor service, on the page designated on the face hereof or any other page as may replace that page on that service for the
purpose of displaying Treasury Constant Maturities as reported in H.15(519). If no page is specified on the face hereof, the Designated CMT Telerate Page will be 7052, for the most recent week. 

 “Designated CMT Maturity Index” means the original period to maturity of the U.S. Treasury
securities which is either 1, 2, 3, 5, 7, 10, 20 or 30 years, as specified on the face hereof, for which the CMT Rate will be calculated. If no maturity is specified on the face hereof, the Designated CMT Maturity Index will be two years.

 Events of Default 
 If an Event of
Default, as defined in the Indenture, with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the
Indenture. 
 Modification and Waivers 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under
the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected, acting together as a class. The Indenture also
contains provisions permitting the Holders of a majority in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the Indenture, acting together as a class, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain past defaults under the Indenture and their consequences may be waived under the Indenture by the Holders of a majority in principal amount
of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 Defeasance and Covenant Defeasance 
 The Indenture
contains provisions for defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth therein,
which provisions apply to this Security. 
 Redemption 
 If so provided on the face hereof, the Company may at its option redeem this Security in whole or in part in increments of $5,000 (provided that any remaining principal amount of this Security shall not be less than
the minimum authorized denomination hereof) on or after the date or dates designated as the Redemption Date(s) on the face hereof at 100% of the unpaid principal amount hereof or the portion thereof redeemed, together with accrued interest, if any,
to the Redemption Date or, if a Redemption Price other than 100% of the principal amount to be redeemed is specified on the face hereof, the Redemption Price specified in the Addendum attached hereto. The Company may exercise such option by mailing
a notice of such redemption to each Holder of the Securities of this series to be redeemed by first-class mail, postage prepaid, at least 15 days and not more than 30 days prior to the applicable Redemption Date. In the event of redemption of
this Security in part only, the Company shall issue a new Security or Securities for the unredeemed 

 
portion hereof in the name of the Holder hereof upon the cancellation hereof. If less than all of the Securities of this series with like tenor and terms are
to be redeemed, the Securities to be redeemed shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate and may provide for the selection for redemption of a portion of the principal amount of the Securities of
this series held by a Holder equal to an authorized denomination. If this Security is a Global Security and if less than all of the Securities of this series are to be redeemed, the redemption shall be made in accordance with the Depositary’s
customary procedures. Unless the Company defaults in the payment of the Redemption Price, on and after the applicable Redemption Date interest will cease to accrue on this Security or portion hereof called for redemption. 
 Sinking Fund 
 Unless otherwise specified on the face
hereof, this Security will not be entitled to any sinking fund. 
 Repayment 
 If so provided on the face hereof, this Security will be repayable prior to the Stated Maturity Date at the option of the Holder, in whole or in part and
in increments of $5,000 (provided that any remaining principal amount of this Security surrendered for partial repayment shall not be less than the minimum authorized denomination hereof), on or after the date designated as an Optional Repayment
Date on the face hereof at 100% of the principal amount to be repaid, plus accrued interest, if any, to the Repayment Date or, if a Repayment Price other than 100% of the principal amount to be repaid is specified on the face hereof, at the
Repayment Price specified in the Addendum attached hereto. In order for this Security to be repaid, the Paying Agent must receive at least 30 days but not more than 45 days prior to the Optional Repayment Date this Security with the form entitled
“Option to Elect Repayment” on the reverse of this Security duly completed, or a telegram, telex, facsimile transmission or a letter from a member of a national securities exchange, or the National Association of Securities Dealers, Inc.
or a commercial bank or trust company in the United States setting forth: (a) the name of the Holder of this Security; (b) the principal amount of this Security; (c) the principal amount of this Security to be repaid; (d) the
certificate number or a description of the tenor and terms of this Security; (e) a statement that the option to elect repayment is being exercised; and (f) a guarantee that this Security, together with the duly completed form entitled
“Option to Elect Repayment,” will be received by the Paying Agent not later than the fifth Business Day after the date of the telegram, telex, facsimile transmission or letter. However, the telegram, telex, facsimile transmission or letter
will only be effective if this Security and form duly completed are received by the Paying Agent by the fifth Business Day after the date of that telegram, telex, facsimile transmission or letter. 
 Any repayment option exercised by the Holder of this Security shall be irrevocable. The repayment option may be exercised for less than the entire
principal amount of this Security, but in that event the principal amount of this Security remaining outstanding after repayment must be equal to $5,000 or an integral multiple thereof. Upon any partial repayment, this Security shall be cancelled
and a new Security or Securities for the remaining principal amount hereof shall be issued in the name of the Holder of this Security. Unless the Company defaults in the payment of the Repayment Price, on and after the applicable Repayment Date
interest will cease to accrue on this Security or portion hereof requested to be repaid. 

 Authorized Denominations 
 Unless otherwise provided on the face hereof, this Security is issuable only in registered form without coupons in denominations of $5,000 or any amount in excess thereof which is an integral multiple of $5,000.

 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 in authorized denominations for an equal aggregate principal amount
will be issued to the transferee in exchange herefor, as provided in the Indenture and subject to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental charge imposed in
connection therewith. 
 If this Security is a Global Security (as specified above), 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, redemption provisions, Stated Maturity Date and other terms
and of authorized denominations aggregating a like amount. 
 If this Security is a Global Security (as specified above), 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 principal of and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed, except as otherwise provided in this Security and except that in the event the Company
deposits money or Eligible Instruments as provided in Articles 4 and 15 of the Indenture, such payments will be made only from proceeds of such money or Eligible Instruments. 

 No Personal Recourse 
 No recourse shall be had for the payment of the principal of or the interest on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture
supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of
any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released. 
 Defined Terms 
 All terms used in this Security which are defined in the Indenture shall have the
meanings assigned to them in the Indenture unless otherwise defined in this Security. 
 Governing Law 
 This Security shall be governed by and construed in accordance with the law of the State of New York, without regard to principles of conflicts of laws.

 OPTION TO ELECT REPAYMENT 
 TO BE COMPLETED ONLY IF THIS SECURITY IS REPAYABLE 
 AT THE OPTION OF THE
HOLDER AND THE HOLDER 
 ELECTS TO EXERCISE SUCH RIGHT 
 The undersigned hereby irrevocably requests and instructs the Company to repay the within Security (or the portion thereof specified below), pursuant to
its terms, on the Optional Repayment Date first occurring after the date of receipt by the Company of the within Security, at the Repayment Price specified in the within Security, to the undersigned,
                            , at
                                        
     (please print or typewrite name and address of the undersigned). 
 For this option to elect repayment to be
effective, the Company must receive, at the address of the Paying Agent set forth below or at such other place or places of which the Company shall from time to time notify the Holder of the within Security, either (i) this Security with this
“Option to Elect Repayment” form duly completed, or (ii) a telegram, telex, facsimile transmission or a letter from a member of a national securities exchange or the National Association of Securities Dealers, Inc. or a commercial
bank or a trust company in the United States setting forth (a) the name of the Holder of the Security, (b) the principal amount of the Security, (c) the principal amount of the Security to be repaid, (d) the certificate number or
description of the tenor and terms of the Security, (e) a statement that the option to elect repayment is being exercised, and (f) a guarantee stating that the Security to be repaid, together with this “Option to Elect Repayment”
form duly completed will be received by the Paying Agent not later than five Business Days after the date of such telegram, facsimile transmission or letter (and such Security and form duly completed are received by the Company by such fifth
Business Day). The address of the Paying Agent is Wells Fargo Bank, N.A., Sixth and Marquette, Minneapolis, Minnesota 55479. 
 If less than
the entire principal amount of the within Security is to be repaid, specify the portion thereof (which shall be an integral multiple of $5,000) which the Holder elects to have repaid:
$            . 

 If less than the entire principal amount of the within Security is to be repaid, specify the denomination
or denominations (which shall be $5,000 or an integral multiple thereof) of the Security or Securities to be issued to the Holder for the portion of the within Securities not being repaid (in the absence of any specification, one such Security will
be issued for the portion not being repaid): $             . 
  

									
	Date:	 	  	 	 	 	  
	Notice: The signature to this Option to Elect Repayment must correspond with the name as written upon page 2 of the within Security
in every particular without alteration or
enlargement or any change whatsoever.

 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)

 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.

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