Document:

Employment Agreement

 Exhibit 10.12 
  
 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated as of January 19, 2001, is entered into by and between SigmaTel, Inc., a Texas corporation
(the “Company” or the “Employer”), and Alan D. Green (the “Employee”) (either party individually, a “Party”; collectively, the “Parties”). 
  
 WHEREAS, the Employee’s employment with the Company commenced on March
1, 2000, and the Company desires to retain the services of Employee as Associate General Counsel of the Company; and 
  
 WHEREAS, in order to induce Employee to remain employed with the Company as Associate General Counsel, the Parties desire to enter into this Agreement to
set forth the terms and conditions of Employee’s continued employment by Employer and to address certain matters related to Employee’s continued employment with Employer; 
  
 NOW, THEREFORE, in consideration of the foregoing and the mutual provisions contained herein, and for other good and
valuable consideration, the Parties hereto agree as follows: 
  
 1.    Duties and Responsibilities.    Employer agrees to continue to employ Employee, and Employee agrees to continue in the position of Associate General Counsel of Employee. Employee shall
perform the duties, services and functions relating to such employment or otherwise reasonably incident to such employment, and such responsibilities, duties, services and functions as may be determined by the Board of Directors of the Company (the
“Board”). Employee may be reassigned or transferred to another management position, as designated by the Board in accordance with the terms and conditions of this Agreement. Employee agrees to abide by all by-laws, policies, practices,
procedures, or rules of the Company. Notwithstanding the foregoing sentence, nothing in this Section 1 will prevent the Employee from engaging in activities that do not materially interfere with the Employee’s duties and responsibilities for
the Company at that time or with his personal investments or community affairs. 
  
 2.    Term.    The term of this Agreement shall commence on January 16, 2001 (the “Effective Date”) and shall continue for a period of three (3) years
thereafter. Notwithstanding the preceding sentence, Employee’s employment with the Company pursuant to this Agreement may be terminated by the Company at any time, with or without cause, and with or without notice. Similarly, Employee may
terminate Employee’s employment with the Company at any time, with or without cause and with or without notice. The period from the Effective Date to the termination of Employee’s employment with the Company is defined as the
“Employment Term.” 
  
 3.    Location.    During the Employment Term, Employee shall serve the Company with his principal place of employment at the Company’s offices in Austin, Texas. 
  

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 4.    Compensation and Employee Benefits.    Upon the
terms and subject to the conditions herein, the Company will compensate Employee for his employment during the Employment Term as follows: 
  
 A.    Salary.    The Company will pay Employee an initial monthly Base Salary of $14,166.67
per month ($170,000 on an annualized basis), subject to applicable withholding, in accordance with the Company’s normal payroll procedures (the “Salary”), subject to periodic (but not less often than annual) review and increase by the
Board, from time to time. 
  
 B.    Bonuses.    Employee shall have the opportunity to earn a quarterly Bonus based upon the achievement of objectives determined by the Board. The quarterly Bonus shall be paid in April,
July, October, and January, with the payment of each quarter’s Bonus subject to approval by the compensation committee of the Board. Employee’s initial quarterly Bonus shall up to $12,500 per quarter. After calendar year 2001,
Employee’s Bonus opportunity will be subject to increase annually, with the level of Employee’s Bonus opportunity for a given calendar year to be determined by the Board in January. In every case, the Bonus shall be subject to such
withholdings or other deductions as may be required by applicable law. 
  
 C.    Incentive, Savings and Retirement Plans.    The Company will permit the Employee to participate in other incentive, savings and retirement plans, as adopted from
time to time by the Board, that are tax-qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended (the “Code”), and all plans that are supplemental to any such tax-qualified plans, in each case to the extent that such
plans are applicable generally to other executives of the Company and are approved by the Board. 
  
 D.    Benefits.    Employee shall have the right, on the same basis as other executives of
the Company, to participate in and to receive benefits under any of the Company’s employee benefit plans, in effect from time to time. 
  
 E.    Expenses.    Subject to the requirements of the business expense reimbursement
policies and procedures of the Company as in effect from time to time that are approved by the Board, the Employee is authorized to incur, and the Company will reimburse the Employee for, reasonable out-of-pocket expenses in the course of performing
his duties under this Agreement including, without limitation, reasonable business meals, entertainme nt, travel, and cellular phone expenses. 
  
 F.    Vacation and Holidays.    The Company will provide to the Employee paid vacation in
accordance with the plans, policies, programs and practices of the Company, that are approved by the Board, providing not less than two (2) weeks (10 business days) vacation per year, and all legal holidays during which times Employee’s
applicable compensation shall be paid in full. Paid vacation days which are unused in any calendar year shall accrue to the next calendar year, or Employee may elect to receive additional compensation for any vacation days unused in any calendar
year. 
  

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 G.    Fringe Benefits.    The Company will
furnish to Employee those fringe benefits, if any, offered generally to senior executives of the Company including, by way of example only, office space, computers and associated software, and reserved parking spaces that are approved by the Board.

  
 5.    Confidential Information.

  
 As consideration for continued employment and to aid and
assist Employee in carrying out his duties, Employer agrees to provide to Employee non-public and Confidential Information (as hereinafter defined) about Employer, which in the reasonable judgment of Employer would assist Employee in the performance
of his duties. For the purposes of this Agreement, the term “Confidential Information” shall mean information of any nature, in any form, and from any source which at the time or times concerned is not generally known or available to the
public or to persons engaged in business similar to that conducted or contemplated by the Employer, and includes, without limitation, customer lists or information relating to clients or customers, trade secrets, processes, inventions, discoveries,
developments, modifications, improvements, ideas, know-how, techniques, designs, data, programs, processes, formulae, code and all other work products, marketing or pricing strategies, marketing efforts, internal cost and profit information,
information related to Employer personnel and other confidential and non-public information relating to the Employer, its employees, affiliates, clients, and customers. Employee agrees that he will not, either during the Employment Term or for a one
(1) year period time thereafter, divulge or appropriate for his own use or the use of others or disclose to any unauthorized person, firm or corporation any Confidential Information, and Employee confirms that such information constitutes the
exclusive property of Employer. 
  
 6.    Change in Control. 
  
 A.    For purposes of this Agreement, “Change in Control” shall mean: (i) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if more
than 50% of the combined voting power of the continuing or surviving entity’s securities outstanding immediately after such merger, consolidation or other reorganization is owned by persons who were not stockholders of the Company immediately
prior to such merger, consolidation or other reorganization; or (ii) The sale, transfer or other disposition of all or substantially all of the Company’s assets. A transaction shall not constitute a Change in Control if its sole purpose is to
change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. 
  
 B.    In the event of a Change in Control of the Company,
the Company may assign this Agreement and all of its rights and obligations hereunder to the acquiring or surviving person or entity; provided that such surviving person or transferee entity shall assume in writing all of the obligations of the
Company hereunder; and provided further that whether or not such person or entity 
  

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so assumes those obligations, the Employee’s rights hereunder will continue as provided by contract or law. 
  
 C.    Immediately prior to the consummation of a
transaction resulting in a Change in Control of the Company, the Company shall pay Employee an additional bonus equal to the aggregate amount of principal and accrued interest outstanding under two “Full Recourse Promissory Notes” executed
by Employee in payment for vested and unvested shares of common stock of the Company. The first “Full Recourse Promissory Note” was dated March 24, 2000 and is in the principal amount of $40,000, and the second “Full Recourse
Promissory Note” was dated July 28, 2000 and is in the principal amount of $45,000. The bonus shall be payable, at Employee’s election, either in cash, or through the Company’s cancellation of all indebtedness represented by the
aforesaid Full Recourse Promissory Notes. 
  
 7.    Termination of Employment. 
  
 A.    For Due Cause. 
  
 (i)    If the Company has Due Cause (as hereinafter defined) to terminate the Employee’s employment, the Company will be entitled to terminate the Employee’s employment at any time by
delivering written notice of that termination to the Employee, in which event (a) that termination will be effective immediately on the date specified in that notice, (b) the Company will only be obligated to pay to the Employee his Salary accrued
and unpaid to the date of that termination; and (c) all the rights and benefits the Employee may have under the employee benefit, vacation, bonus and/or incentive plans and programs of the Company, that shall have been approved or adopted by the
Board, if any, will be determined in accordance with the terms and conditions of those plans and programs; 
  
 (ii)    “Due Cause” means: 
  
 (a)    the Employee has committed a willful serious act, such as fraud, embezzlement or
theft, against the Company, intending to enrich himself at the expense of the Company; 
  
 (b)    the Employee has been convicted of a felony involving the Employee’s intentionally engaging in conduct
that is demonstrably materially injurious to the Company, and has exhausted all opportunities for appeal of such conviction; 
  
 (c)    the Employee, in carrying out his duties hereunder, has been guilty of gross neglect or willful misconduct;

  

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 (d)    the Employee has materially breached this Agreement by
repeatedly failing to follow the reasonable instructions of the Board of Directors of the Corporation in the performance of Employee’s duties hereunder and has failed to remedy that breach within fifteen (15) days after receipt of written
notice from the Company that the breach has occurred. 
  
 B.    General Power.    The Company may terminate the Employee’s employment at any time by providing written notice of that termination to the Employee, in which event: 
  
 (i)    the Company will pay to Employee
his Salary and any Bonus accrued and unpaid to the date his employment terminates; 
  
 (ii)    the Company will pay to Employee his Salary at the rate in effect on the date of his employment termination,
less applicable withholding, for the longer of (i) two (2) months following his termination, or (ii) three (3) weeks of Salary for each year or partial year of Employee’s employment with the Company (both the Company and the Employee
acknowledge that Employee’s employment with the Company commenced on March 1, 2000); 
  
 (iii)    the Company will pay premiums for Employee’s COBRA coverage, for the longer of (i) two (2) months
following his termination, or (ii) three (3) weeks of COBRA premium payments for each year or partial year of Employee’ s employment with the Company; 
  
 (iv)    the Company will pay to Employee 100% of the quarterly Bonus targeted for Employee as described in Section
4.B above for the next calendar quarter year following the date on which the termination occurs; 
  
 (v)    all the rights and benefits Employee may have under the employee benefit, vacation, and/or incentive plans and
programs, if any, of the Company, will be administered in accordance with the terms and conditions of those plans and programs; 
  
 (vi)    the Company shall pay the Employee the additional bonus provided in Section 6.C above, with the date of
termination of Employee’s employment being treated as the date of consummation of a Change in Control; and 
  
 (vii)    if the termination is in connection with a Change in Control or occurs after the consummation of a Change in
Control, then on the effective date of the termination, the vesting schedule under any then outstanding stock option agreement, restricted stock purchase agreement, or other equity compensation agreement between the Company and Employee shall
automatically accelerate by a twenty-four month (24) period, so that all stock options, restricted shares of stock, and/or other equity compensation issued to Employee which would have otherwise, if not for this 

  

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Section 7.B(vii), been scheduled to vest over the twenty four (24) month period immediately following the date of termination shall instead automatically
vest effective immediately prior to the date of termination. Without limitation of the foregoing provisions of this Section 7.B(vii), this Section 7.B(vii) applies to the vesting schedule of (1) the “Restricted Stock Purchase Agreement”
entered into effective March 24, 2000 between the Company and Employee, (2) the “ Restricted Stock Purchase Agreement” entered into effective July 28, 2000 between the Company and Employee, and (3) the “Incentive Stock Option
Agreement” entered into between the Company and Employee effective January 19, 2001. 
  
 Those benefits under subsection (i)—(vii) of this Section 7B together are referred to as the “Severance Benefits.” If Employee dies following termination under this Section 7B, but before the full
payment of all Severance Benefits due under this Agreement, the remaining Severance Benefits will be paid to the estate of Employee. 
  
 C.    Employee Termination Rights. 
  
 (i)    General Power.    The Employee may voluntarily terminate his employment with the
Company at any time by providing prior written notice to the Company, in which event the Company will pay to the Employee his Salary and all other benefits and compensation accrued and unpaid to the date of termination of his employment. 

 
 (ii)    Contractual
Grounds.    Nothing in this Agreement prevents Employee from terminating his employment with the Company at any time by delivery of written notice of that termination to the Company. However, if Employee terminates his
employment with the Company, Employee will only be entitled to Severance Benefits under this Section 7.C if Employee has Contractual Grounds (as defined hereinafter) to terminate his employment. If the Employee has Contractual Grounds (as defined
hereinafter) to terminate his employment, the Employee will be entitled to terminate his employment at any time by delivering written notice of that termination to the Company; 
  
 (iii)    “Contractual Grounds” means: 
  
 (a)    the Company reassigns Employee to
a position either (1) involving a material reduction in the nature, character or responsibility of his position or (2) with a lower Salary than his prior position; 
  
 (b)    the Company assigns Employee to a position that requires Employee to relocate
his residence away from the Austin, Texas area; or 
  
 (c)    the Company assigns Employee to a position that requires Employee to travel on average more than three (3) working days per month. 
  

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 Upon any termination under this Section 7C, Company shall pay Employee those Severance Benefits described
in Section 7B. If Employee dies following termination under this Section 7C, but before full payment of all Severance Benefits under this Agreement, the remaining Severance Benefits will be paid to the estate of Employee. 
  
 D.    Due to
Death.    If the Employee dies, the Employee’s employment shall terminate on the date of death, in which event: 
  
 (iii)    the estate of the Employee shall be entitled to all of Employee’s rights under this Agreement; and

  
 (iv)    all other rights
and benefits the Employee (or his estate) may have under the employee benefit, vacation, bonus and/or incentive plans and programs of the Company that shall have been approved or adopted by the Board, if any, shall be determined in accordance with
the terms and conditions of those plans and programs but which, in any event, will continue in effect for benefit of the immediate family of Employee for a minimum period of two (2) months from date of death (unless a longer period is mandated by
any state or federal law). 
  
 8.    Notices. All notices, requests, demands and other communications given under or by reason of this Agreement shall be in writing and shall be deemed given when delivered in person or when mailed, by certified
mail (return receipt requested), postage prepaid, addressed as follows (or to such other address as a party may specify by notice pursuant to this provision): 
  

A.    If to the Company: to the principal business office of the Company. 
  
 B.    If to the Employee: to the home
address of the Employee as specified in the Company’s records. 
  
 9.    Governing Law and Forum.    The Parties consent that this Agreement shall be governed by and construed in accordance with the substantive laws (other than the rules governing conflicts of
laws) of the State of Texas. 
  
 10.    Additional Instruments.    The Employee and the Company shall execute and deliver any and all additional instruments and agreements that may be necessary or proper to carry out the
purposes of this Agreement. 
  
 11.    Entire Agreement and Amendments.    This Agreement contains the entire agreement of the Employee and the Company relating to the matters contained herein and supersedes all prior
agreements and understandings, oral or written, between the Employee and the Company with respect to the subject matter hereof. This Agreement may not be amended or modified except by an agreement in writing signed by both parties. 
  

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 12.    Headings.    The headings of sections and
subsections hereof are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. 
  
 13.    Tax Withholding.    Notwithstanding any other provision hereof, the
Company may withhold from amounts payable hereunder all federal, state, local and foreign taxes that are required to be withheld by applicable laws or regulations. 
  
 14.    Separability.    If any provision of this Agreement is rendered or
declared illegal, invalid or unenforceable by reason of any existing or subsequently enacted legislation or by the final judgment of any court of competent jurisdiction, the Employee and the Company shall promptly meet and negotiate substitute
provisions for those rendered or declared illegal or unenforceable to preserve the original intent of this Agreement to the extent legally possible, but all other provisions of this Agreement shall remain in full force and effect. 
  
 15.    Non-assignment by
Employee.    The obligations of the Employee under this Agreement are personal to him, and no such obligations shall be subject to voluntary or involuntary alienation, assignment or transfer, except as otherwise contemplated
hereby. 
  
 16.    Effect of
Agreement.    Subject to the provisions of Sections 6 and 15 with respect to assignments, this Agreement shall be binding upon the Employee and his heirs, executors, administrators and legal representatives and upon the
Company and its legal representatives, successors and permitted assigns, except as otherwise contemplated hereby. 
  
 17.    Execution.    This Agreement may be executed in multiple counterparts, each of which shall be deemed
an original and all of which shall constitute one and the same instrument. 
  
 18.    Waiver of Breach.    The failure by any party to enforce any of its rights hereunder shall not be deemed to be a waiver of such rights, unless such waiver is an
express written waiver which has been signed by the waiving party. The waiver by either party to this Agreement of a breach of any provision of the Agreement by the other party shall not operate or be construed as a waiver by such party of any
subsequent breach by such other party. 
  
 19.    Word Usage.    Words used in the masculine shall apply to the feminine where applicable. 
  
 (Signature Page Follows) 
  

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 IN WITNESS WHEREOF, the Employee and the Company have executed this Employment Agreement as of the
Effective Date. 
  

	 	  	 SIGMATEL, INC.
  
	  	ALAN D. GREEN
	By:	  	/s/    H. Spence Jackson	  	/s/    Alan D. Green
	 	  	
	  	

	 	  	H. Spence Jackson, President	  	Alan D. Green

  

 9Form of Medium-Term Fixed Rate Note, Series E

 EXHIBIT 4.1 
  
 [Series E MTNs] 
  
 [Face of Note] 
  

	 CUSIP NO.
	 	PRINCIPAL AMOUNT:
$                        
		
	 REGISTERED NO.
	 	 

  
  
 WELLS FARGO & COMPANY 
  
 FORM OF 
  
 MEDIUM-TERM
FIXED RATE NOTE, SERIES E 
  
 Due Nine Months or More From
Date of Issue 
  
  ̈ Check this box if this Security is a Global Security. 
  
 Applicable 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 (55 Water Street, New York,
New York) (“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.] 
  
 [If
applicable, this Security will contain information required by U.S. Federal Income Tax “Original Issue Discount” rules, as that term is defined in the Internal Revenue Code of 1986, as amended.] 
  

	 ORIGINAL ISSUE DATE:
	  	ISSUE PRICE:     %	  	INTEREST RATE PER ANNUM:
			
	 STATED MATURITY DATE:
	  	INTEREST PAYMENT DATES:	  	REGULAR RECORD DATES:
			
	 OPTIONAL REDEMPTION:
	  	INITIAL REDEMPTION PERCENTAGE:	  	 ANNUAL REDEMPTION
 PERCENTAGE REDUCTION:

			
	 INITIAL REDEMPTION DATE:
	  	SINKING FUND:	  	OPTION TO ELECT REPAYMENT:
			
	 OPTIONAL REPAYMENT DATE(S):
	  	 MINIMUM DENOMINATIONS:
  ̈ $1,000
  ̈ Other
	  	DEPOSITARY (Only applicable if this Security is a Global Security):

			
	 SPECIFIED CURRENCY:
	  	 	  	 
			
	 OTHER/ADDITIONAL TERMS:
	  	 	  	ADDENDUM ATTACHED:

  
 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                                 , or registered assigns,
the principal sum of                                  Dollars
($                    ) on the Stated Maturity Date shown above (except to the extent redeemed or repaid prior to such date) and to pay
interest, if any, on the principal amount hereof at the Interest Rate shown above (computed on the basis of a 360-day year of twelve 30-day months), semi-annually on each Interest Payment Date set forth above from and after the date of this Security
and at Maturity until payment of the principal amount hereof has been made or duly provided for. Unless this Security is a Security which has been issued upon transfer of, in exchange for, or in replacement of, a Predecessor Security, interest on
this Security shall accrue from the Original Issue Date indicated above. 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 indicated 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.
Subject to certain exceptions provided in the Indenture referred to herein below, the interest so payable on any Interest Payment Date will be paid to the Person in whose name this Security is registered at the close of business on the Regular
Record Date (whether or not a Business Day) next preceding such Interest Payment Date, and interest payable upon Maturity will be paid to the person to whom principal is payable. 
  
 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

  

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 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. 
  
 Until this Security is paid in full or payment therefor in full is duly provided for, the Company will at all times maintain a Paying Agent (which Paying Agent may be the Trustee) in New York City or Minneapolis,
Minnesota. The Company has initially appointed Wells Fargo Bank Minnesota, National Association as the Paying Agent at its corporate trust offices at Minneapolis, Minnesota. 
  
 If this Security is a Global Security: Payments of principal and any premium and interest on this Security will be made to
DTC or its nominee, as Holder of this Security, by wire transfer of immediately available funds. 
  
 If this Security is not a Global Security: Payment of interest on this Security (other than payments of interest at Maturity) will be made by check mailed
to the Person entitled thereto at such Person’s last address as it appears in the Security Register or, in the case of a Holder of $50,000,000 or more in aggregate principal amount of Securities of this series having the same Interest Payment
Date, by wire transfer of immediately available funds to such account as may have been designated by such Holder. Any such designation for wire transfer purposes shall be made by filing the appropriate information with the Paying Agent at its
corporate trust office not later than 10 calendar days prior to the applicable Interest Payment Date and, unless revoked by written notice to the Paying Agent received by the Paying Agent on or prior to the Regular Record Date immediately preceding
the applicable Interest Payment Date, shall remain in effect with respect to any further payments with respect to this Security payable to such Holder. Payment of principal of and interest, if any, 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 New York City or Minneapolis, Minnesota. 
  
 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 will 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.

  
 Any payment on this Security due on any day which is not a
Business Day need not be made on such day, but may be made on the next succeeding Business Day with the same force and effect as if made on the due date and no additional interest shall accrue on the amount so payable for the period from and after
such date. For purposes of this Security, “Business Day” means any day other than a Saturday, Sunday or a legal holiday or a day on which banking institutions are authorized or required by law or regulation to close in New York City or
Minneapolis, Minnesota. 
  
 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. 
  

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 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 referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  
  

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

	 DATED:                                     
                                        
          
	  	 
		
	 	  	 WELLS FARGO & COMPANY

		
	 	  	 By:                                      
                                        
                                        
      

		
	 	  	 Its:                                      
                                        
                                        
  

		
	[SEAL]	  	 
		
	 	  	 Attest:                                     
                                        
                                        
 

		
	 	  	 Its:                                      
                                        
                                        
  

  
 TRUSTEE’S CERTIFICATE OF
AUTHENTICATION 
 This is one of the Securities of the 
 series
designated therein referred to 
 in the within-mentioned Indenture. 
  

CITIBANK, N.A., 
 as Trustee 
  

		
	 By:
	 	 /s/    NAME        

	 	 	Authorized Signature
		
	 	 	OR

  
 WELLS FARGO BANK MINNESOTA, NATIONAL
ASSOCIATION, 
 as Authenticating Agent for the Trustee 
  

		
	 By:
	 	 /s/    NAME        

	 	 	Authorized Signature

  

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 [Reverse of Note] 

 
 WELLS FARGO & COMPANY 
  
 MEDIUM-TERM FIXED RATE NOTE, SERIES E 
  
 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 E, of the Company, which series is limited to an aggregate principal amount of $10,000,000,000 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 F 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 Depository or (b) certificated securities issued to and registered in the names of, the beneficial owners or their nominees. 
  
 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. 
  

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 Modification and Waivers; Obligation of the Company Absolute 
  
 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. 
  
 No reference herein to the Indenture and no provision of this Security or of 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 that in the event the Company deposits money or Eligible Instruments as provided
in Section 401 or 403 of the Indenture, such payments will be made only from proceeds of such money or Eligible Instruments. 
  
 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 from time to time in part in increments of $1,000
(provided that any remaining principal amount of this Security shall not be less than the minimum authorized denomination hereof) on or after the date designated as the Initial Redemption Date on the face hereof at 100% of the unpaid principal
amount hereof or the portion thereof redeemed multiplied by a percentage (the “Redemption Percentage”), together with accrued interest, if any, to the Redemption Date. The Redemption Percentage shall initially be equal to the Initial
Redemption Percentage specified on the face hereof and shall decline at each anniversary of the Initial Redemption Date by the amount of the Annual Redemption Percentage Reduction specified on the face hereof, until the Redemption Percentage is
equal to 100%. The Company may exercise such option by causing the 
  

 7 

 Trustee to mail a notice of such redemption at least 30 but not more than 60 days prior to the applicable Redemption Date
to each Holder of the Securities of this series to be redeemed. 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.

  
 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 $1,000 (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. In order for this Security to be repaid, the
Company must receive at the applicable 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, at least 30 but not more than 45 days prior to
an Optional Repayment Date, either (i) this Security, with the form below entitled “Option to Elect Repayment” duly completed, or (ii) a telegram, telex, facsimile transmission, or 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 of America setting forth (a) the name, address and telephone number of the Holder of this Security, (b) the principal amount of this
Security and the amount of this Security to be repaid, (c) a statement that the option to elect repayment is being exercised thereby, and (d) a guarantee stating that the Company will receive this Security, with the form below entitled “Option
to Elect Repayment” duly completed, not later than five Business Days after the date of such telegram, telex, facsimile transmission or letter (and this Security and form duly completed are received by the Company by such fifth Business Day).
Any such election shall be irrevocable. The address to which such deliveries to are to be made is Sixth and Marquette, Minneapolis, Minnesota 55479 (or, at such other place as the Company shall notify the Holders of the Securities of this series).
All questions as to the validity, eligibility (including time of receipt) and acceptance of any Security for repayment will be determined by the Company, whose determination will be final and binding. 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. 
  

 8 

 Authorized Denominations 
  

Unless otherwise provided on the face hereof, this Security is issuable only in registered form without coupons in denominations of $1,000 or any
amount in excess thereof which is an integral multiple of $1,000. 
  
 Registration of Transfer 
  
 Upon due presentment
for registration of transfer of this Security at the corporate trust office of the Trustee in the City of New York or at the corporate trust office of the Paying Agent in 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 the Company does not appoint a successor Depositary within 90 days after
receiving such notice or after becoming aware that the Depositary has ceased to be so registered as a clearing agency, (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. 
  

 9 

 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. 
  
 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. 
  
  

 10 

  
  

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 as specified below (the “Repayment Date”), at a Repayment Price equal to 100% of the principal amount thereof,
together with interest to the Repayment Date, 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 applicable address of the Paying Agent
set forth in the within Security or at such other place or places of which the Company shall from time to time notify the Holder of the within Security, at least 30 but not more than 45 days prior to an Optional Repayment Date, either (i) this
Security, with this “Option to Elect Repayment” form duly completed, or (ii) a telegram, telex, facsimile transmission, or 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 of America setting forth (a) the name, address and telephone number of the Holder of the Security, (b) the principal amount of the Security and the amount of the Security to be repaid, (c) a
statement that the option to elect repayment is being irrevocably exercised thereby, and (d) a guarantee stating that the Security to be repaid with the form entitled “Option to Elect Repayment” on the addendum to the Security duly
completed will be received by the Company not later than five Business Days after the date of such telegram, telex, facsimile transmission or letter (and such Security and form duly completed are received by the Company by such fifth Business Day).

  
 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 $1,000) 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 $1,000 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 
  

 11 

 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.

  

 12 

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

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

  

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

  

	Under Uniform Gifts to Minors Act
	
	  
	

	(State)

  
 Additional
abbreviations may also be used though not in the above list. 
  
 FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 
  
 Please Insert Social Security or 
 Other Identifying Number of Assignee 
  

	 	 	 
	
	 	 
	
	 
	

	
	 
	

	
	 
	

 (PLEASE PRINT OR TYPE
NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE) 
  
  

 13 

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

					
	 Dated:
                                        
        
	 	 	 	 	 	 	 	 
					
	 	 	 	 	 	 	 	 	

			
	 	 	 Signature Guaranteed:
	 	

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

 14

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