Document:

Contribution Agreement

 Exhibit 10.1 
 CONTRIBUTION AGREEMENT 
 by and among 
 DUKE REALTY LIMITED PARTNERSHIP, 
 DUKE/HULFISH, LLC 
 and 
 CBRE OPERATING PARTNERSHIP,
L.P. 
 as of May 5, 2008 

 CONTRIBUTION AGREEMENT 
 THIS CONTRIBUTION AGREEMENT (this “Agreement”) made and entered into as of the 5th day of May, 2008 (the “Effective
Date”), by and among DUKE REALTY LIMITED PARTNERSHIP, an Indiana limited partnership (“Duke”), DUKE/HULFISH, LLC, a Delaware limited liability company (the “Company”), and CBRE OPERATING
PARTNERSHIP, L.P., a Delaware limited partnership (“CBOP”). Duke and CBOP are herein each referred to as a “Member” and collectively as “Members”. 
 NOW, THEREFORE, in consideration of One Dollar ($1.00), the covenants set forth in this Agreement and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE 1. Background and Definitions.

 (a) The Company. The Company was formed in the State of Delaware on April 29, 2008 and is qualified to do business in
states where the Projects are located. On the first Closing Date (as hereinafter defined), Duke and CBOP will enter into the Operating Agreement for the Company (the “Operating Agreement”), in the form attached hereto as Exhibit A.
Each Member’s interest in the Company (the “Percentage Membership Interest”) shall be divided as follows: CBOP will own eighty percent (80%) of the membership interests of the Company (“CBOP’s Membership
Interest”) and Duke will own twenty percent (20%) of the membership interests of the Company (“Duke’s Membership Interest”). 
 (b) The Land. All of the parcels of real property legally described in Exhibits B-1 through B-6 attached hereto, together with all right, title and interest of Duke in and to any land lying
in the bed of any street (opened or proposed) adjacent to or abutting or adjoining thereto, and all privileges, rights of way, tenements, hereditaments and easements appurtenant, including, all minerals, oil or gas on or under such Land, development
rights, air rights, water rights and any easements, rights of way or other interests in, on, or under any land, highway, alley, street or right of way abutting or adjoining such Land (collectively, the “Land”). 
 (c) The Buildings. The buildings and improvements currently located or to be constructed on the Land, other than the Expansion Buildings,
including, but not limited to, any and all structures, systems, facilities, fixtures, machinery, equipment and conduits and lines that provide fire protection, security, heat, exhaust, ventilation, air conditioning, electrical power, light,
plumbing, refrigeration, gas, sewer and water thereto, each of which shall specifically be referred to by its common name as set forth in Exhibit C attached hereto (each a “Building” and collectively, the
“Buildings”). 
 (d) Personal and Intangible Property. Duke’s interest in all items of personal property
owned by Duke and located on the Land or used in connection with the ownership or operation of each Project (as hereinafter defined), along with any intangible property now or hereafter owned by Duke and used in the ownership or operation of each
Project including, without limitation, any plans, drawings and specifications, surveys, soils reports, environmental studies, manuals, permits, licenses, approvals, guaranties, warranties, contract rights, agreements, equipment lease agreements,
files regarding tenants, vendors and suppliers, utility agreements or other rights relating to the ownership, development, use or operation of each Project (collectively, the “Personal and Intangible Property”). The parties hereto
acknowledge and agree that the cash balances of any accounts standing in the name of Duke on or before the Closing Date shall remain the property of Duke and shall not be included in the property to be contributed under this Agreement. 

 (e) Projects. Collectively, the Land, the Buildings and the Personal and Intangible
Property shall collectively be referred to as “Projects,” and individually as a “Project.” 
 (f)
Leases. Any licenses, occupancy agreements and leases, along with any amendments, subleases, sublicenses and assignments thereto, for the Projects which are in full force and effect as of the Closing Date (hereinafter defined).

 (g) Tenant or Tenants. Each tenant that has executed or is otherwise bound by a Lease. 
 (h) Expansion Buildings. Defined in Section 7(c). 
 (i) Cap Rate. With respect to each Project, the Cap Rate set forth on Exhibit D attached hereto. 
 ARTICLE 2. Capital Contributions, Distributions and Loans. 
 (a) Agreed Value. The aggregate value of
all of the Projects is TWO HUNDRED FORTY-EIGHT MILLION NINE HUNDRED THOUSAND FIVE HUNDRED AND 00/100 DOLLARS ($248,900,500.00) (the “Aggregate Agreed Value”). The value for each of the individual Projects (in each case, the
“Agreed Value”) is set forth on Exhibit D attached hereto. The Agreed Value, and, accordingly, the Aggregate Agreed Value, is subject to adjustments as set forth in this Article 2. 
 The Agreed Value for each Project set forth in Exhibit D is based on the estimated annualized Base Rent (as hereinafter defined) for the 12 month period
commencing on the first day of the month following the date of contribution of a Project, which are set forth in Exhibit D (“Estimated First Year Base Rent,” the estimated Base Rent for the entire term of the Lease
shall be referred to as the “Estimated Base Rent”). Estimated First Year Base Rent includes any applicable Rent Subsidy (as defined below), but the Agreed Value for each Project set forth in Exhibit D does not account
for adjustments to the Base Rent that would result from increases or decreases in the final construction costs for the Project. Accordingly, Duke and CBOP agree that if the Base Rent for a Project increases or decreases, the Agreed Value for such
Project and the Aggregate Agreed Value will be amended to reflect the revised Base Rent for the 12 month period commencing on the first day of the month following the Closing Date of a Project (“Actual First Year Base Rent,” the
actual Base Rent for the entire term of the Lease as determined after such increases or decreases shall be referred to as the “Actual Base Rent”). In the event that the Actual First Year Base Rent cannot be determined by the
applicable Closing Date, Duke and CBOP will close using the Estimated First Year Base Rent; and post Closing, the Agreed Value will be recalculated and adjusted between the Company and Duke based on the Actual First Year Base Rent. The Agreed Value
for such Project, other than Amazon at Anson, will be amended in its entirety to equal the result obtained by dividing the Actual First Year Base Rent by the applicable Cap Rate. Notwithstanding the foregoing, if, for any Project, other than Amazon
at Anson, the Actual First Year Base Rent is more than one hundred five percent (105%) of the Estimated First Year Base Rent (“First Tier Base Rent”), the Agreed Value for such Project, other than Amazon at Anson, shall be
calculated by adding the sum of: (i) the First Tier Base Rent divided by the applicable Cap Rate, and (ii) the present value of the Actual Base Rent in excess of one hundred five percent (105%) of the Estimated Base Rent over the term
of the Lease, using a discount rate for each Project, other than Amazon at Anson, as set forth in Exhibit D. In the event that the Actual Base Rent is greater than the Estimated Base Rent for Amazon at Anson, the Agreed Value for
Amazon at Anson shall be increased by the present value of the Actual Base Rent in excess of the Estimated Base Rent over the term of the Lease, using a discount rate of twelve percent (12%), up to a maximum amount of SEVEN HUNDRED FIFTY THOUSAND
AND 00/100 DOLLARS ($750,000.00). 

 (b) Capital Contributions and Distributions. At each Closing, CBOP shall make a cash
contribution to the Company (“CBOP Cash Contribution”) equal to eighty percent (80%) of the difference between: (i) the Agreed Value(s) of the contributed Project(s), plus or minus prorations and costs set forth in this
Article 2, and (ii) the net proceeds of any Loan or Loans for the contributed Projects. At each Closing, Duke shall contribute one or more Projects to the Company as set forth herein and shall be entitled to a cash distribution
(“Duke Cash Distribution”) equal to the Agreed Value(s) of such contributed Project(s), plus or minus prorations and costs set forth in this Article 2, less twenty-five (25%) of the CBOP Cash Contribution. Such
cash distribution shall be paid first from the net proceeds of any Loan or Loans for the applicable Project, with any remaining cash distribution paid by the Company from the proceeds of the CBOP Cash Contribution. CBOP and Duke hereby agree that
the distribution of net Loan proceeds to Duke pursuant to this paragraph shall be paid directly from the lender to Duke upon closing of the Loan. CBOP and Duke agree that the twenty percent (20%) of the distribution to Duke from net Loan
proceeds shall first be considered to be a debt financed distribution out of Duke’s allocable share of the Loan pursuant to Treasury regulation 1.707-5(b)(2), and that the remainder of the distribution to Duke from net Loan proceeds or the
proceeds of the CBOP Cash Contribution shall be considered to be a reimbursement of pre-formation expenditures pursuant to Treasury regulation 1.707-4(d). 
 The estimated CBOP Cash Contributions and Duke Cash Distributions for each Project are contained in Exhibit L. The amounts set forth in Exhibit L shall be subject to being increased or
decreased as set forth herein, and shall be adjusted for prorations and costs as set as set forth in this Article 2 and the amount of net Loan proceeds for each Project. 
 (c) Loans. Concurrently with each Closing and in accordance with the terms of the Operating Agreement, the Company shall endeavor to obtain
debt financing of approximately 60% of the Agreed Value (or as otherwise agreed by the Members) for the applicable Project(s) being contributed (each, a “Loan”). Unless otherwise agreed to by the Members, each Loan will be obtained
in accordance with Section 4.3(b) of the Operating Agreement. 
 (d) Prorations. The Company and Duke will prorate all
income, taxes and expenses relating to each Project on a cash basis (i.e. based solely upon amounts payable in the year in which Closing occurs regardless of when they accrue) as of the applicable Closing Date, based on the Company’s and
Duke’s respective periods of ownership. 
 (i) Pre-Closing Rent. Except as provided in subparagraph
(ii) below, Duke shall pay or credit to the Company at the Closing all base or minimum rent (“Base Rent”) and estimated reimbursement payments of operating expenses, taxes and insurance (“Additional Rent”) paid
by the Tenants under the Lease for the calendar month in which the Closing occurs, prorated for the number of days during such calendar month from, including and after the Closing Date. Collectively, Base Rent and Additional Rent shall be referred
to as the “Rent.” 
 (ii) Post-Closing Rent. After the Closing Date, the Company shall make good faith
efforts (but without being required to institute any legal action against any Tenant) to collect all unpaid Rents for any period prior to the Closing Date. Any Rents due and owing Duke before the Closing by a Tenant under a Lease that are unpaid at
the Closing Date, are herein called “Delinquent Rents”. There shall be no cash credit to Duke at Closing on account of any Delinquent Rents, but following Closing, rental and other payments received by the Company or Duke from a
Tenant shall be first applied toward the payment of Rent and other charges then currently owed to the Company, then toward the actual out-of-pocket costs of collection paid to parties other than the managing agent of the applicable Project, and
finally such Rents shall be applied toward the payment of Delinquent Rents. 

 (iii) Real Estate Taxes. Real estate taxes and assessments
(“Taxes”) for each Project will be prorated between the Company and Duke on a cash basis, (i.e., Taxes first coming due during the year in which the Closing occurs will be prorated at Closing, regardless of the year to which such
Taxes apply or are accrued.) If Taxes due during the year in which the Closing occurs have not been billed or are not ascertainable as of the Closing Date, proration of Taxes shall be based upon the most recently available bill for Taxes.
Notwithstanding the foregoing, there will be no proration for Taxes to the extent the Lease requires Tenant to pay Taxes either directly to the taxing authorities or by annual reimbursement to Duke, rather than paying estimated amounts therefor to
Duke as Additional Rent. Duke shall pay all Taxes due prior to Closing and the Company shall pay all Taxes due on or after Closing. At Closing, all prorations of Taxes shall constitute full settlement between the Company and Duke. 
 (iv) Tenant Security Deposits. The Company shall receive a credit, or Duke shall pay the Company, at Closing, an amount equal to
the total amount of cash security deposits (and any accrued but unpaid interest thereon required by the applicable Lease to be paid to the Tenant) held by Duke pursuant to the Leases, less portions thereof which were applied by Duke after the date
of this Agreement in accordance with the applicable Lease to cure defaults by Tenants under the Leases. At Closing, Duke will transfer to the Company any non-cash security held by Duke under the Leases to secure payment and performance under the
Leases. 
 (v) Re-Proration and Reconciliation. The prorations
made between Duke and the Company under this Article 2 may be based on estimates. Except as otherwise expressly provided herein, if any prorations made at Closing are based on estimates, then, when the actual amounts are finally
determined, Duke and the Company shall re-prorate post Closing based on actual amounts, and Duke or the Company, as the case may be, shall make an appropriate payment to the other based on such re-proration. The re-proration shall be completed on or
before June 1st of the year following the year of Closing. The Company shall be responsible for reconciling Additional Rent with the Tenants
from and after the year of Closing. 
 (e) Rent Subsidies. In the event that the applicable Tenant has not commenced paying
Base Rent or Additional Rent as of the Closing Date, Duke shall pay the Company on a monthly basis, in advance, to the extent a Tenant is not paying, Base Rent and/or Additional Rent under the terms of the Lease (“Rent Subsidy”)
prorated based upon the amount of the Base Rent and Operating Expenses due from the Tenant for the first full month of the applicable Lease following any full or partial rent abatement period. Duke will control the timing of the Closing in the event
that a Rent Subsidy is provided. The Members agree that the Rent Subsidy is not intended to be a guaranty of Rent, but rather a means to compensate the Company if Projects are contributed during any rent abatement period. 
 (f) Transaction Costs. Except as set forth below, all costs associated with the formation of and contributions to the Company (the
“Transaction Costs”) will be borne by the Company, including but not limited to Loan Costs. As used herein, the term “Loan Costs” shall refer to origination fees, lender’s title insurance costs, lender costs
and fees, legal fees of lender’s and borrower’s counsel, mortgage recording taxes and other costs and expenses incurred by the Company in connection with obtaining a Loan. Transaction Costs which are Loan Costs shall be deducted from the
proceeds of the Loan. Notwithstanding the foregoing, transfer, recording and deed stamp taxes, intangible taxes (other than related to mortgages), recording costs, escrow closing costs, survey costs, and the cost of owner’s title insurance
(“Contribution Closing Costs”) shall be divided between Duke and the Company in accordance with the local custom of the state and county in which each Project is located, with Duke deemed the seller and the Company deemed the buyer
for the purpose of allocating Contribution Closing Costs. Each Member will bear the costs of its own financial and legal advisors in connection with the formation of the Company, including, without limitation, all due diligence costs incurred by
such Member and not otherwise provided for above. 

 ARTICLE 3. Earnest Money. 
 Within one (1) business day after the Effective Date, CBOP shall deposit with First American Title Insurance Company, National Commercial Services
Division, 30 N. LaSalle Street, Suite 310, Chicago, IL 60602 Attn: Steve Zellinger (“Escrow Agent”), earnest money in the amount of Four Million and No/100 Dollars ($4,000,000.00) (together with all interest earned thereon,
the “Initial Earnest Money”). An additional earnest money deposit shall be made for each Project in an amount equal to two percent (2%) of the Agreed Value of such Project (in each case, together with all interest earned
thereon, a “Project Earnest Money”). The Initial Earnest Money and all of the Project Earnest Money are collectively referred to as the “Earnest Money”. Each Project Earnest Money shall be deposited by CBOP with
Escrow Agent upon notice from Duke that the Closing of such Project is scheduled to occur within forty-five (45) days. At Closing, a portion of the Initial Earnest Money in an amount equal to the product of the Initial Earnest Money multiplied
by a fraction, the numerator of which is the Agreed Value of Project(s) being contributed and the denominator of which is the Aggregate Agreed Value (“Allocated Portion of the Initial Earnest Money”), along with the entire Project
Earnest Money attributable to the applicable Project(s) (collectively, the Allocated Portion of the Initial Earnest Money and the applicable Project Earnest Money shall be referred to as the “Total Project Earnest Money”) shall be
applied in full to the cash contribution payable by CBOP at the Closing for the applicable Project. Whenever the Earnest Money is by the terms hereof to be disbursed by Escrow Agent, Duke and CBOP agree to promptly execute and deliver such notice or
notices as shall be reasonably necessary to authorize Escrow Agent to make such disbursement. 
 ARTICLE 4. CBOP’s
Inspections. 
 (a) Document and Physical Inspections. Except as set forth in Exhibit E-1 (the “Outstanding
Diligence Items”), CBOP hereby acknowledges that it has received and shall review and inspect all of the due diligence items set forth on Exhibit E (the “Duke Deliveries”). Except as otherwise expressly
provided herein, Duke makes no representation or warranty as to the truth, accuracy or completeness of the Duke Deliveries or any other studies, documents, reports or other information provided to CBOP by Duke. Subject to the Leases, CBOP and its
agents shall have the right, from time to time prior to the Closing of the applicable Project, during normal business hours, to enter upon each Project to (i) perform non-invasive inspections, surveys, examinations, tests and studies as CBOP
shall determine to be necessary or appropriate, all at CBOP’s sole cost and expense, including, a phase I environmental report and (ii) inspect the progress of the construction and development of the Project. Notwithstanding anything to
the contrary, CBOP shall not conduct or allow any physically intrusive testing of, on or under any Project without the prior written consent of Duke, which consent shall not be unreasonably withheld, conditioned or delayed. CBOP agrees to give Duke
reasonable advance telephonic notice of inspections by contacting Jason Sturman, Vice President of Fund Management at 317-808-6505 and to conduct such inspections during normal business hours to the extent practicable. CBOP agrees to conduct all
inspections of the Projects in accordance with all applicable laws and in a manner that will not unreasonably interfere with the operations of Duke or Tenants thereon and will not harm or damage any Project or cause any claim adverse to Duke or any
Tenant, and agrees to repair or restore each Project to its condition prior to any such examinations or surveys (to the extent practicable) immediately after conducting the same. CBOP shall not contact any Tenants concerning the Projects without
Duke’s prior consent (which consent shall not be unreasonably withheld, conditioned or delayed), however, CBOP shall have the opportunity to arrange interviews with the Tenants through Duke representatives subject to the availability of the
Tenants. CBOP hereby indemnifies and holds Duke and 

 
any agent, advisor, representative, affiliate, employee, director, partner, member, beneficiary, investor, servant, shareholder, subsidiary, trustee or other
person or entity acting on Duke’s behalf or otherwise related to or affiliated with Duke (collectively, “Duke Related Parties”) harmless from and against any claims for injury or death to persons, damage to Project or other
actual (but not consequential or punitive) losses, damages or claims, including, without limitation, claims of any Tenant(s) then in possession, and including, without limitation, in each instance, reasonable attorneys’ fees and litigation
costs, resulting from (i) the entry on any Project by or any action of, any person or firm entering any Project on CBOP’s behalf as aforesaid or, (ii) any breach by CBOP of its obligations under this Article 4, or
(iii) any liens caused by or on behalf of CBOP, which indemnity shall survive the applicable Closing and any termination of this Agreement; provided, however, that the foregoing indemnity shall not apply to: (i) the negligence of any of
the Duke Related Parties or (ii) the mere discovery of a pre-existing condition. Prior to, and as a condition to any entry on a Project by CBOP or its agents for the purposes set forth herein, CBOP shall deliver to Duke a certificate of
insurance evidencing comprehensive general liability coverage (including coverage for contractual indemnities) with a combined single limit of at least $2,000,000.00 and excess umbrella coverage for bodily injury and Project damage in the amount of
$5,000,000.00, in a form reasonably acceptable to Duke, covering any activity, accident or damage arising in connection with CBOP or agents of CBOP on any Project, and naming Duke, as an additional insured. 
 (b) Formal Inspection Period. With respect to all of the Projects other than Amazon at Anson, CBOP shall have until 5:00 p.m. Eastern Time
on the Effective Date (the “Inspection Date”) to terminate this Agreement, by written notice delivered to Duke, if CBOP is not, for any reason, satisfied with the Projects, in which case the Earnest Money shall be returned to CBOP
and neither party shall have any further obligations hereunder except for those obligations of CBOP that expressly survive termination as set forth in this Agreement. If CBOP fails to deliver written notice to Duke of its election to terminate this
Agreement on or before 5:00 p.m. Eastern Time on the Inspection Date, then CBOP’s termination rights under this Article 4(b) with respect to all Projects other than Amazon at Anson shall be deemed to have been waived by CBOP, the
Earnest Money shall be non-refundable, except as otherwise expressly set forth herein, and the parties shall proceed with the transaction pursuant to the remaining terms and conditions of this Agreement. With respect to Amazon at Anson, CBOP shall
have until 5:00 p.m. Eastern Time on May 23, 2008 (the “Anson Inspection Date”) to terminate this Agreement as to Amazon at Anson, by written notice delivered to Duke, if CBOP is not, for any reason, satisfied with the Amazon
at Anson, in which case the Total Project Earnest Money relating to Amazon at Anson shall be returned to CBOP, and this Agreement shall otherwise continue in full force and effect. If CBOP fails to deliver written notice to Duke of its election to
terminate this Agreement as to Amazon at Anson on or before 5:00 p.m. Eastern Time on the Anson Inspection Date, then CBOP’s termination right under this Article 4(b) with respect to Amazon at Anson shall be deemed to have been
waived by CBOP, the remaining Earnest Money shall be non-refundable, except as otherwise expressly set forth herein, and the parties shall proceed with the Amazon at Anson transaction pursuant to the remaining terms and conditions of this Agreement.

 ARTICLE 5. Title and Survey. 
 (a) Deed. At each Closing, Duke shall contribute the Project to the Company by limited or special warranty deed, or similar instrument to the Company or its wholly-owned subsidiary (each a
“Deed”), which will be subject only to (i) all presently existing and future liens of unpaid taxes or assessments, water rates, water charges and sewer taxes, rents and charges, if any, not yet due and payable (but subject to
Article 2(d)(iii)); (ii) all matters of public record affecting title to the Project waived or not objected to by CBOP pursuant to this Article 5 or otherwise reasonably acceptable to CBOP; (iii) the rights of the
Tenant under the applicable Lease, as Tenant only; (iv) any matters created or caused solely 

 
by CBOP; (v) utility and access easements serving the Project on which the Buildings do not encroach, which are either necessary for the development and
permitting of the Buildings or necessary for the development and permitting of buildings on adjacent land owned by Duke or its affiliates (which do not adversely affect the development, operations or expansion of the Project);
(vi) dedications/conveyances of right of way as required by any governmental agency as part of a building plan approval, provided such conveyance does not adversely affect the development, operations or expansion of a Project and (vii) use
restrictions of record that do not adversely affect the development, operations or expansion of the Project and are not violated by the Buildings or the intended operations thereof (collectively, the “Permitted Exceptions”).

 (b) Title and Survey Review. CBOP hereby acknowledges that it has received and shall review title commitments
(“Title Commitments”) issued by First American Title Insurance Company, whose address is 30 North LaSalle Street, Suite 310, Chicago, Illinois 60602 (“Title Insurer”), as well as Duke’s existing surveys for the
Projects (“Surveys”). Subject to Article 5(c), CBOP shall have until the Inspection Date (as defined below) to (i) examine title and survey for the Projects, and (ii) to give written notice to Duke of any
objections that CBOP may have to title or survey (the “Title Objection Notice”). If CBOP shall fail to timely deliver the Title Objection Notice, CBOP shall be deemed to have waived such right to object to any title exceptions or
defects. If CBOP does timely deliver the Title Objection Notice to Duke, Duke shall elect, by written notice delivered to CBOP within five (5) business days following Duke’s receipt of the Title Objection Notice (the “Cure Response
Period”) to either endeavor to cure or satisfy any particular objection(s) at or prior to Closing or not to so cure or satisfy any particular title objection(s) (the “Title Response Notice”). Notwithstanding anything to the
contrary contained in this Agreement, Duke, in its sole discretion, shall have the right to adjourn the Closing for a period not to exceed sixty (60) days, in order to undertake to cure or satisfy any particular objection(s) raised by CBOP in
the Title Objection Notice, provided, however, that Duke shall notify CBOP, in writing, within three (3) days prior to the scheduled Closing Date, of its election to so adjourn the Closing. To the extent Duke shall fail to deliver the Title
Response Notice to CBOP within the time required therefor or shall elect not cure any particular title objection(s) by Closing, then CBOP may elect, by written notice to Duke given within the earlier of (x) five (5) business days after
delivery of the Title Response Notice or (y) the expiration of the Cure Response Period, either to (a) partially terminate this Agreement, however, such partial termination shall only affect the Project or Projects applicable to such
failure of delivery or election, and this Agreement shall otherwise continue in full force and effect, in which case the Total Project Earnest Money shall be returned to CBOP by Escrow Agent and the parties shall have no further rights or
obligations hereunder with respect to the terminated Project, except for those which expressly survive any such termination, or (b) waive its objections hereunder and proceed with the transaction pursuant to the remaining terms and conditions
of this Agreement, without any reduction in the Purchase Price. Duke shall not be required to cure any matter objected to by CBOP, except that Duke shall be obligated to cure, release of record or omit from the title commitment at or prior to
Closing the following: (i) the lien of any mortgage, deed of trust or trust deed evidencing any indebtedness (other than a Loan) owed, or voluntarily assumed or taken subject to by Duke, (ii) tax liens for delinquent Taxes,
(iii) mechanics liens for work or materials supplied to the Project and (iv) broker’s liens filed pursuant to an agreement between Duke and a broker. If CBOP fails to so give Duke notice of its election within the timeframe required
therefor, CBOP shall be deemed to have elected the option contained in subpart (b) above. If Duke does so reasonably cure or satisfy, or undertake to reasonably cure or satisfy, such objection to the satisfaction of CBOP, then this Agreement
shall continue in full force and effect. CBOP shall have the right at any time to waive any objections that it may have made and, thereby, to preserve this Agreement in full force and effect. 
 (c) Title Continuation and As-Built Survey. If any continuation, update or revision of the title commitments issued by the Title Insurer or
the Surveys discloses any claim, lien or exception adversely affecting title to any Project other than the “Permitted Exceptions” and which CBOP 

 
is not willing to waive (a “Subsequent Defect”), CBOP shall give written notice thereof to Duke within five (5) business days after
CBOP’s receipt of such continuation, update or revision. CBOP and Duke shall have the same rights regarding each Subsequent Defect as are provided in this paragraph with respect to matters set forth in a Title Objection Notice. At least ten
(10) business days prior to the applicable Closing Date, Duke shall cause (i) the Title Insurer to provide CBOP with an update of the Title Commitment for the Project, and (ii) the As-Built Survey (hereinafter defined) for the
Project. 
 ARTICLE 6. Operations Pending Closing. 
 After the Effective Date, with CBOP’s consent, not to be unreasonably withheld, conditioned or delayed (provided, however, CBOP’s consent shall
be deemed granted in the event CBOP does not object in writing thereto within five (5) business days after Duke requests such consent from CBOP), Duke shall not enter into any new Lease or any modification, amendment, restatement, termination,
or renewal of any Lease except for letters of understanding, certificates, punch lists and other documents contemplated by the applicable Lease; provided, however, Duke shall enter into such agreements if so required by a Lease (e.g. if a Tenant
exercises a renewal option or expansion option). Duke shall promptly deliver a copy of any item described in the preceding sentence entered into or received by Duke following the Inspection Date. At or prior to Closing, with respect to the initial
current terms under the Leases, Duke shall pay leasing commissions, tenant improvement costs, and before and after Closing, Duke shall be solely responsible for reimbursements to Tenants for tenant improvements and payment of allowances and profit
sharing payments. Notwithstanding anything to the contrary in the previous sentence, the Company shall be responsible for leasing commissions (including commissions due to Duke or its affiliates pursuant to commission agreements included in
Exhibit J attached hereto) and tenant improvement costs in connection with the extension or renewal of the initial current terms under the Leases, and for expansions of the Buildings, which are exercised by the Tenant after the
Effective Date. At Closing, the Company shall assume those commission agreements set forth on Exhibit J attached hereto. The provisions of this paragraph of Article 6 shall expressly survive the final Closing. 

Duke promptly shall deliver to CBOP a copy of any written notice of default given or received by Duke under any Lease from and after the Effective
Date. 
 After the Effective Date, Duke shall have the right to enter into standard service, construction, materials and maintenance
contracts necessary for operation or construction and maintenance of a Project (e.g. landscaping, security, parking lot sweeping, garbage removal, etc., or construction and materials contracts necessary for the completion of the Buildings), so long
as such contracts are either: (i) at competitive rates and terminable upon thirty (30) days’ notice, or (ii) remain Duke’s sole responsibility and are not assigned at Closing. Duke’s execution of such contracts shall
not require CBOP’s prior consent, however, except for contracts necessary for the completion of the Buildings, Duke shall provide a copy of each said contract to CBOP promptly after its full execution. Payments due from the owner of a Project
under any contracts for the initial construction of such Project shall remain Duke’s sole responsibility. At or before a Closing, Duke shall terminate, without cost to the Company, any existing property management agreement for the applicable
Project. 
 After the Effective Date, Duke also shall continue to maintain all casualty, liability and hazard insurance currently in effect
with respect to the Projects to the extent such insurance is in place with respect to the Projects as of the Effective Date, or as required under the applicable Lease. 

 ARTICLE 7. Continuing Construction, Payment and Expansion Obligations. 
 (a) Completion of Construction. Duke, at its sole cost and expense, shall use diligent, good faith efforts to complete the Buildings (and
the landlord’s work) in a good, workmanlike and expeditious manner, in material compliance with all applicable laws, regulations, codes, ordinances and restrictive covenants and in accordance, in all material respects, with: (i) the plans,
drawings and specifications for such Buildings presented to CBOP, and (ii) the applicable provisions of the Leases. Duke shall, at its sole expense: (i) maintain or cause to be maintained, all licenses, certificates, permits and approvals
necessary for the completion of construction, (ii) repair or cause to be repaired any damage to the Buildings occasioned by construction activities, (iii) remove or cause to be removed from the Project all debris, unused building materials
and all other unsightly materials pursuant to Duke’s customary construction practices and (iv) obtain all certificates of occupancy required for the use and occupancy of the Project. Duke shall be solely responsible for any construction
cost overruns at a Project except as otherwise set forth in the applicable Lease. In addition, as and when Duke achieves substantial completion of the shell Building for each Project, Duke promptly shall give written notice thereof to CBOP.

 (b) Post-Closing Construction and Payment Obligations of the Landlord. As and when Projects are contributed to the Company,
Duke shall retain, at its expense and without reimbursement from the Company, sole responsibility to perform the construction obligations required of the Landlord under the Leases in connection with the construction of the Projects, including, but
not limited to the construction and installation of tenant improvements, fixtures and personal property, performance under construction warranties in favor of Tenants, all to the extent set forth in the Leases, and the performance and/or payment of
those matters more fully described in Exhibit N attached hereto (the “Post-Closing Construction and Payment Obligations”). 
 (c) Expansion Obligations. With respect to Amazon at Anson, the Lease provides for the construction and lease of an additional building (the “Expansion Building”) on land not included
with the boundaries of such Project. Accordingly, at the Closing of the contribution of Amazon at Anson, Duke shall execute, acknowledge and deliver to the Company an option to purchase (“Option Agreement”), in recordable form,
granting to the Company an option to purchase the site of the Expansion Building (the “Option Land”) at a purchase price equal to the fair market value of the Option Land as determined between the Company and Amazon.com.indc LLC, a
Delaware limited liability company (“Amazon”), in accordance with the terms of Addendum 7 of the Lease with Amazon. The option to purchase shall be exercisable upon the exercise of the Tenant’s option for the construction and
lease of the Expansion Building. 
 The provisions of this Article 7 shall expressly survive the final Closing. 
 ARTICLE 8. CBOP’s Conditions to Closing. 
 (a) Conditions. CBOP’s obligation to close on a Project under this Agreement is subject to the satisfaction at the time of the Closing of the following conditions for the applicable Project (any one
of which may be waived in whole or in part by CBOP by notice given in accordance with Article 19 at or prior to Closing): 
 (i) Duke shall have performed and satisfied each and all of Duke’s obligations under this Agreement with respect thereto. 

 (ii) Each and all of Duke’s representations and warranties set forth in this
Agreement shall be true and correct in all material respects at the Effective Date and the applicable Closing Date. 
 (iii)
Duke shall have delivered to CBOP and the Company a tenant estoppel certificate executed by the Tenant for such Project(s) in the form required by such Tenant’s Lease or substantially in the form attached hereto as Exhibit F
(each, a “Tenant Estoppel Certificate”). Any qualification of any assertion in the Tenant Estoppel Certificate regarding the status of the performance of any of landlord’s obligations under the Lease that such assertion is made
“to Tenant’s knowledge” or similar qualification made by a Tenant shall be acceptable. 
 (iv) Title Insurer
shall be prepared, and irrevocably committed, to issue an ALTA Owners Title Insurance Policy, to be dated effective no earlier than the Closing Date, that (i) is in the form customarily used for similar transactions in state in which the
Project is located, (ii) is in at least the face amount of the Agreed Value, (iii) shows fee title to the Project to be vested of record in Company, and (iv) provides for no title exceptions other than the Permitted Title Exceptions.

 (v) Duke shall have delivered to CBOP: (1) an architect’s G704 certificate of substantial completion for the
shell building, (2) delivery of a certificate of occupancy or temporary certificate of occupancy for the shell building and all completed Tenant space (to the extent available in the applicable jurisdiction), (3) evidence of the
commencement of the applicable Lease, and acceptance of space (including the landlord’s work under the Lease) by the applicable Tenant (which acceptance may be included in the Tenant Estoppel Certificate), subject only to completion of minor
punch list items, which punch list items Duke shall complete, at its sole expense, after the Closing as soon as reasonably possible, (4) satisfaction of all conditions under a Lease required for each Tenant to begin paying full rent (subject to
any rent concession covered by the Rent Subsidy), (5) evidence satisfactory to CBOP indicating payment of all materials in place and labor performed with respect to the work covered by the G704 certificate, (6) a then current “as
built” survey of the Project (the “As-Built Survey”) prepared by a surveyor licensed in the state in which the Project is located and in compliance with the Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys
(including items 2, 3, 4, 5, 7(a), &(b)(1), 7(c), 8,9,10,13, 16, 17 and 18 of Table A thereof) and (7) evidence that any purchase option, right of first offer or right of first refusal of the Tenant under the applicable Lease that became
effective upon the occurrence of substantial completion has terminated or been waived. 
 (vi) Following the Inspection Date,
the Tenant of the Project has not commenced a voluntary case or been the subject of a petition for involuntary bankruptcy under the United States Bankruptcy Code (Title 11 of the United States Code). 
 (vii) In the case of certain of the Projects, the satisfaction of the conditions precedent set forth in Exhibit O attached
hereto (the “Additional CBOP Conditions”). 
 (viii) Neither Landlord nor Tenant shall, as of the Closing
Date, have an uncured default under the Lease. 
 Upon learning of a failure of a condition in this Article 8, or any other condition in this
Agreement, CBOP shall promptly notify Duke thereof, and Duke shall have thirty (30) days to cure said failure, or in the event that the failure of the condition cannot be cured within thirty (30) days, provided that Duke shall have
commenced to cure such failure within such thirty (30) day period and thereafter shall diligently and 

 
continuously prosecuted such cure, the aforesaid thirty (30) day period shall be extended for an additional sixty (60) days (“Condition
Cure Period”), and the Closing Date shall be extended for a period not to exceed the Condition Cure Period. If on the Closing Date (as may be extended hereby) the conditions of this Article 8 have not been satisfied, then, at
CBOP’s option, CBOP shall not be obligated to close on the Project for which the conditions have not been satisfied, the Total Project Earnest Money for the applicable Project shall be returned to CBOP. The failure of a condition set forth in
this Article 8 shall not be deemed a breach of this Agreement, unless such failure is a default in another express provision of this Agreement. 
 ARTICLE 9. Duke’s Conditions to Closing. 
 (a) Conditions. Duke’s
obligation to close under this Agreement is subject to the satisfaction at the time of the Closing of the following conditions (any one of which may be waived in whole or in part by Duke (by notice given in accordance with Article 19)
at or prior to Closing): 
 (i) Duke receiving all corporate and partnership approvals to complete this transaction required
under the documents governing its formation and operation. In the event this condition is not satisfied on or prior to April 30, 2008 (“Approval Date”), Duke may deliver written notice thereof to CBOP on or before the Approval
Date, whereupon this Agreement shall cease and terminate, the Earnest Money shall be returned and paid to CBOP, and neither party shall have any further obligation hereunder except those which expressly survive the termination of this Agreement. In
the event that Duke terminates this Agreement as set forth in this Article 9, Duke shall reimburse CBOP for its actual, out of pocket due diligence costs and attorneys’ fees in an amount not to exceed One Hundred Thousand and
00/100 ($100,000.00), upon presentation by CBOP of actual invoices, receipts, agreements or other proof of payment reasonably requested by Duke, which obligation to reimburse shall survive the termination of this Agreement. If Duke fails to so
notify CBOP on or before the Inspection Date, this condition shall be deemed waived. 
 (ii) CBOP and the Company shall have
performed and satisfied each and all of their respective obligations under this Agreement and the representations and warranties of CBOP and the Company hereunder shall be true and correct in all material respects at the Effective Date and the
applicable Closing Date. 
 ARTICLE 10. Closings. 
 (a) Time. Notwithstanding anything to the contrary, the Closing Date for Amazon at Anson and Unilever Texas shall occur on the same day. The Closing of the contribution of each Project shall take place
in escrow with the Escrow Agent, or at such other location as the Members shall mutually designate. Each Closing shall take place at 10 a.m. Eastern Time on the date that is ten (10) days after the conditions precedent have been satisfied with
respect to the applicable Project(s) or on such earlier date and at such other location as the Members may agree (each a “Closing Date”). 
 (b) Duke Closing Deliveries. At each Closing, Duke shall deliver the following documents, in the form reasonably satisfactory in form and substance to Duke, CBOP and, where applicable, the Title Insurer,
properly executed and acknowledged as required: 
 (i) The Deed; 

 (ii) Original counterparts of the Operating Agreement and that certain Qualified Future
Asset Investment Agreement in the form attached hereto as Exhibit P (the “Future Asset Agreement”), each executed by Duke, if not previously delivered; 
 (iii) All counterparts and documents reasonably required by the Company’s lender from Duke for the Loan(s) relating to the applicable
Project(s) and in accordance with the Operating Agreement; 
 (iv) A certification of non-foreign status in the form attached
hereto as Exhibit K; 
 (v) Evidence reasonably satisfactory to the Title Insurer respecting the due
organization of Duke, and the due authorization and execution by Duke of this Agreement and the documents required to be delivered hereunder; 
 (vi) An affidavit of title or other affidavit customarily required of Duke by the Title Insurer to remove the standard mechanics’ liens and parties in possession exceptions from an owner’s title insurance
policy; 
 (vii) A Closing Statement, prepared by Duke and agreed to by CBOP (the “Closing Statement”);

 (viii) An Assignment and Assumption Agreement assigning and transferring to the Company all right, title and interest of
Duke in and to the Lease for the Project, the Security Deposits, the Commission Agreements, the Service Contracts and other items and substantially in the form attached hereto as Exhibit G (the “Assignment”);

 (ix) Original tenant notification letters for each Tenant under a Lease in a form reasonably satisfactory to Duke and CBOP;

 (x) Such further instructions, documents and information, including, but not limited to a Form 1099-S, as Title Insurer may
reasonably request as necessary to consummate the purchase and sale contemplated by this Agreement; 
 (xi) Such transfer tax,
certificate of value or other similar documents customarily required of sellers in the jurisdiction in which the Project is located; 
 (xii) If applicable, a Rent Subsidy Agreement pursuant to Article 2(e); 
 (xiii) If applicable, the
original letter of credit and the instruments transferring the same to the Company pursuant to Article 2(d)(iv); 
 (xiv) Except as otherwise set forth on Exhibit O, if the Project is located within a planned unit development governed by a declaration of covenants, conditions and restrictions (“CCRs”), an estoppel
certificate addressed to the Company, dated not earlier than thirty (30) days before the Closing Date, from the declarant or property owners’ association having jurisdiction over the Project indicating that (i) no fees or assessments
levied against the Project are unpaid, (ii) to the knowledge of the certifying party, the Project is not in violation of the CCRs and (iii) any right of first refusal or first offer under the CCRs has been waived with respect to the
conveyance of the Project to the Company; 

 (xv) A “bring down” certificate with respect to the representations and
warranties of Duke set forth in Article 14(c); 
 (xvi) A quitclaim bill of sale and general assignment
transferring to the Company all right, title and interest of Duke in and to the Personal and Intangible Property and substantially in the form attached hereto as Exhibit M; 
 (xvii) An executed original of the Lease applicable to the Project; 
 (xviii) In the case of the Projects located in Whitestown, Indiana, an executed Option Agreement; 
 (xix) Original counterpart of the assignment and assumption agreement attached hereto as Exhibit Q; and 
 (xx) Such other documents or instruments reasonably necessary to consummate the Closing. 
 (c) Company Closing Deliveries. At each Closing, Duke and CBOP shall each cause to be delivered, the following documents, reasonably
satisfactory in form and substance to Duke, CBOP and, where applicable, the Title Insurer, properly executed and acknowledged as required: 
 (i) All counterparts and documents reasonably required by lender from the Company for the Loan(s) relating to the applicable Project(s); 
 (ii) Evidence reasonably satisfactory to the Title Insurer respecting the due organization of the Company (and any wholly-owned subsidiary
of the Company that will hold title if applicable) and the due authorization and execution by the Company of this Agreement and the documents required to be delivered hereunder; 
 (iii) Original counterparts of the Closing Statement and the Assignment, in accordance with the Operating Agreement; 
 (iv) Such further instructions, documents and information, including, but not limited to a Form 1099-S, as Title Insurer may reasonably
request as necessary to consummate the purchase and sale contemplated by this Agreement; 
 (v) Such transfer tax, certificate
of value or other similar documents customarily required of buyers in the county in which the Project is located; 
 (vi)
Original counterpart of the assignment and assumption agreement attached hereto as Exhibit Q; and 
 (vii) Such
other documents or instruments reasonably necessary to consummate the Closing. 
 (d) CBOP Closing Deliveries. At each Closing,
CBOP shall deliver, the following payments and documents, reasonably satisfactory in form and substance to Duke, CBOP and, where applicable, the Title Insurer, properly executed and acknowledged as required: 
 (i) CBOP Cash Contribution in accordance with the terms of the Operating Agreement and this Agreement; 

 (ii) Original counterparts of the Operating Agreement and the Future Asset Agreement,
each executed by CBOP, if not previously delivered; 
 (iii) All counterparts and documents reasonably required by lender from
CBOP for the Loan(s) relating to the applicable Project(s) and in accordance with the Operating Agreement; 
 (iv) An original
counterpart of the Closing Statement; 
 (v) Evidence reasonably satisfactory to the Title Insurer respecting the due
organization of CBOP and the due authorization and execution by CBOP of this Agreement and the documents required to be delivered hereunder; 
 (vi) A “bring down” certificate with respect to the representations and warranties of CBOP set forth in Article 14(a); 
 (vii) Such other documents or instruments reasonably necessary to consummate the Closing. 
 ARTICLE 11. Default. 
 (a)
Duke Default. In the event of a default by Duke under the terms of this Agreement which is not cured by Duke within five (5) business days after receipt of written notice thereof given by CBOP, CBOP’s sole and
exclusive remedies shall be to either: (a) partially terminate this Agreement with respect to the Project or Projects for which Duke is in default, however that such partial termination shall only affect the Project or Projects for which Duke
is in default, and the Agreement shall otherwise continue in full force and effect, and upon such termination CBOP will receive a refund of the applicable Total Project Earnest Money from Escrow Agent and the parties shall have no further rights or
obligations hereunder with respect to the applicable Project, except for those which expressly survive such termination, or (b) provided CBOP has tendered all of its required closing documents and has the funds available to close on or before
the scheduled Closing Date, seek specific performance of Duke’s obligations under this Agreement with respect to the Project or Projects for which Duke is in default; provided that any action by CBOP for specific performance must be filed, if
at all, within sixty (60) days after Duke’s default, and the failure to file within such period shall constitute a waiver by CBOP of such right and remedy. If CBOP shall not have filed an action for specific performance within the
aforementioned time period, CBOP’s sole remedy shall be to terminate this Agreement in part in accordance with clause (a) above and to exercise any other remedies available to it under the Operating Agreement or any other agreement between
CBOP and Duke. Other than the remedies set forth herein, CBOP waives all other claims and causes of action against Duke for breach of Duke’s obligations. 
 Notwithstanding anything herein to the contrary, in the event that any Lease has been terminated prior to the contribution of the Project applicable thereto, so long as such termination did not result from a default
by Duke under either the Lease or under this Agreement, CBOP’s sole remedy shall be to partially terminate this Agreement with respect to such Project and receive a return of the applicable Total Project Earnest Money; in the event that CBOP
elects to waive the conditions relating to such Lease set forth in Article 8(a) and proceed to Closing, Duke and CBOP agree to extend the Closing Date to work in good faith to agree on a new Agreed Value for the Project, but in the
event that, notwithstanding such good faith efforts, the parties are unable to agree on a new Agreed Value within thirty (30) days after 

 
CBOP’s receipt of notice of such Lease termination, CBOP’s sole remedy shall be to partially terminate this Agreement with respect to such Project
and receive a return of the applicable Total Project Earnest Money. 
 (b) CBOP Default. In the event of a default by CBOP
under the terms of this Agreement which is not cured by CBOP within five (5) business days after receipt of written notice thereof given by Duke, Duke may, as its sole and exclusive remedy, partially terminate this Agreement with respect to the
Project or Projects for which CBOP is in default, however that such partial termination shall only affect the Project or Projects for which Duke is in default, and the Agreement shall otherwise continue in full force and effect, and upon such
termination the Escrow Agent shall disburse the Total Project Earnest Money for such Project or Projects for which CBOP is in default to Duke, and Duke shall be entitled to retain such Total Project Earnest Money for such default of CBOP, whereupon
the parties shall have no further rights or obligations hereunder with respect to the applicable Project, except for those which expressly survive such termination. It is hereby agreed that Duke’s damages in the event of a default by CBOP
hereunder are uncertain and difficult to ascertain, and that the Total Project Earnest Money constitutes a reasonable liquidation of such damages for failure to close with respect to such Project, and is intended not as a penalty, but as liquidated
damages. This provision shall expressly survive the termination of this Agreement. Notwithstanding the foregoing, nothing contained herein shall waive or diminish any right or remedy Duke may have at law or in equity for CBOP’s default or
breach of Article 4(a) of this Agreement. 
 ARTICLE 12. Entire Agreement. The parties understand and
agree that their entire agreement is contained herein and that no warranties, guarantees, statements, or representations shall be valid or binding on a party unless set forth in this Agreement. It is further understood and agreed that all prior
understandings and agreements heretofore had between the parties are merged in this Agreement which alone fully and completely expresses their agreement and that the same is entered into after full investigation, neither party relying on any
statement or representation not embodied in this Agreement. This Agreement may be changed, modified, altered or terminated only by a written agreement signed by the parties hereto. 
 ARTICLE 13. Damage or Destruction; Condemnation. 
 (a) Casualty. In the event of any damage or destruction of one or more Projects, then, as long as: (i) the damage or destruction was fully insured (or if Duke agrees to pay for the entire cost of
repairing said damage or destruction if it was not insured (or was underinsured)), (ii) all abatements of rent due to Tenants as a result of such damage or destruction are reimbursed by rent loss insurance or a binding, unconditional agreement
by Duke in form and substance satisfactory to CBOP to cover such abatement, (iii) Duke pays to the Company any applicable deductible, (iv) the damage or destruction would not permit the Tenant(s) of the Project to terminate its Lease, and
(v) the repairs and restoration can be fully completed within one hundred fifty (150) days after the damage or destruction then Duke, the Company and CBOP shall proceed to Closing. If the conditions of subsections (i), (ii) (iii),
(iv) and (v) above are not satisfied, then, within twenty (20) days after Duke confirms in writing to CBOP of the failure of said conditions, CBOP may elect to proceed to Closing (and Duke shall assign to the Company any rights of
Duke to any insurance proceeds, if any), or partially terminate this Agreement as to the affected Project, however that such partial termination shall only affect the Project or Projects for which Duke is in default, and the Agreement shall
otherwise continue in full force and effect. Upon such partial termination, CBOP will receive a refund from Escrow Agent of the applicable Total Project Earnest Money. 

 (b) Condemnation. If all or part of a Project is taken by condemnation, eminent domain or
by agreement in lieu thereof, or any proceeding to acquire, take or condemn all or part a Project is threatened or commenced (collectively, a “Taking”), which allows a Tenant to terminate its Lease (and said Tenant does not agree to
waive its termination right) or affects more than ten percent (10%) of an affected Project or would restrict (on a permanent basis) ingress and egress to and from the Project or result in a permanent loss of five percent (5%) or more of
the parking spaces at the Project (the occurrence of any of the foregoing Takings being hereinafter referred to as a “Material Taking”), CBOP may either (1) partially terminate this Agreement as to the affected Project and
receive a refund from Escrow Agent of the applicable Total Project Earnest Money, however that such partial termination shall only affect the Project or Projects for which a Taking is applicable, and the Agreement shall otherwise continue in full
force and effect, or (2) proceed to Closing in accordance with the terms hereof, without reduction in the Aggregate Agreed Value. If Duke has received payments from the condemning authority and if CBOP elects to proceed to Closing, Duke shall
credit the amount of said payment (not already used by Duke to repair any damage from said condemnation) against the Aggregate Agreed Value at the Closing. If a Taking is not a Material Taking, then the parties shall proceed to Closing in accordance
with the terms hereof, without reduction in the Aggregate Agreed Value, and Duke shall credit the amount of said payment (not already used by Duke to repair any damage from said condemnation) against the Aggregate Agreed Value at the Closing.

 (c) Duke shall immediately notify CBOP of any damage or destruction to the Project or any notice received by Duke regarding the
threatening of or commencement of condemnation or similar proceedings. 
 ARTICLE 14. Representations and Warranties.

 (a) Representations and Warranties of CBOP. CBOP hereby represents and warrants to Company and Duke as of the
Effective Date as follows: 
 (i) CBOP is a duly organized and validly formed limited partnership under the laws of the State
of Delaware and is not subject to any involuntary proceeding for dissolution or liquidation thereof. The execution, delivery of and performance under this Agreement are pursuant to authority validly and duly conferred upon CBOP and the signatories
hereto. To CBOP’s knowledge, the consummation of the transaction herein contemplated and the compliance by CBOP with the terms of this Agreement do not and will not conflict with or result in a breach of any of the terms or provisions of, or
constitute a default under, any agreement, arrangement, understanding, accord, document or instrument by which CBOP is bound. 
 (iii) Executive Order. (a) CBOP is (i) not currently identified on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control, Department of the Treasury
(“OFAC”) and/or on any other similar list maintained by OFAC pursuant to any authorizing statute, executive order or regulation (collectively, the “List”), and (ii) not a person or entity with whom a citizen of the
United States is prohibited to engage in transactions by any trade embargo, economic sanction, or other prohibition of United States law, regulation, or Executive Order of the President of the United States, and (iii) not an “Embargoed
Person” (as defined below), (b) to CBOP’s actual knowledge, none of the funds or other assets of CBOP constitute property of, or are beneficially owned, directly or indirectly, by any Embargoed Person, and (c) to CBOP’s
actual knowledge, no Embargoed Person has any interest of any nature whatsoever in any CBOP (whether directly or indirectly). The term “Embargoed Person” means any person, entity or government subject to trade restrictions under U.S. law,
including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder. 

 (b) Survival. The representations and warranties of CBOP in Article
14(a) shall survive the final Closing for a period of one hundred eighty (180) days. As used in Article 14(a), the phrase “CBOP’s actual knowledge” or any derivation thereof shall mean the actual knowledge
of Jack A. Cuneo, President of CB Richard Ellis Realty Trust, the general partner of CBOP. 
 (c) Representations and Warranties of
Duke. Subject to the disclosures expressly set forth in Exhibit H attached hereto and made a part hereof (the “Disclosure Items”) or matters disclosed in the Duke Deliveries, Duke hereby represents and warrants to
Company and CBOP as of the Effective Date as follows: 
 (i) Lease Exhibit. The only leases or other occupancy
agreements to which Duke is a party or is bound affecting any Project are set forth in the Lease Exhibit attached hereto as Exhibit I (the “Lease Exhibit”). The Lease Exhibit shall from time to time be updated pursuant
to matters permitted under the terms of Article 6, and each update shall not constitute a breach of warranties, provided that any new matters are permitted hereunder. Duke shall provide an updated version of the Lease Exhibit to CBOP
and the Company to be attached as an exhibit to the Assignment at Closing. With respect to each Lease set forth in the Lease Exhibit, (i) the Lease is in full force and effect and has not been further amended or modified except as otherwise set
forth in the Lease Exhibit, or from time to time permitted under the terms of Article 6, and (ii) the Tenant has not notified Duke, in writing: (A) requesting a reduction in the rent payable under the Lease, (B) advising
Duke that the Tenant intends to assign its interest under the Lease, (C) requesting any modification or termination of the Lease or (D) indicating that such Tenant has commenced a voluntary case or has had entered against it an order for
relief under the U.S. Bankruptcy Code (Title 11 of the United States Code). 
 (ii) Agreements. Duke has not entered
into any management agreement, or agreement for provision of services or supplies, or other contract which will be binding on the Company or any Project after the Closing except for the service contracts listed in Exhibit J attached
hereto (to the extent assignable), the Leases and matters of public record set forth in the title commitments issued by the Title Insurer and provided to CBOP. Duke has not entered into any leasing commission agreements that have outstanding
obligations for payment of commissions by the landlord that shall be binding on the Company except as set forth on Exhibit J. Exhibit J shall from time to time be updated pursuant to matters permitted under the terms of
Article 6, and such updates shall not constitute a breach of warranties. 
 (iii) No
Litigation/Violations. There are no pending nor has Duke received written notice of any threatened claims, litigation, suits, administrative hearings, notices of violation, actions or proceedings by any organization, person, individual or
governmental agency against Duke or any of its affiliates with respect to the Projects or against any Project that may (i) materially impair Duke’s ability to perform its obligations under this Agreement or the Operating Agreement,
(ii) materially impair the development, construction, leasing, operation or use of any Project as contemplated by this Agreement or (iii) impose on the The Company a monetary obligation in excess of $25,000.00. 
 (iv) Authority. Duke is a duly organized and validly formed limited partnership under the laws of the State of Indiana, is
qualified to do business in states in which the Projects are located and is not subject to any involuntary proceeding for dissolution or liquidation thereof. 

 (v) Non-Foreign Status. Duke is not a “foreign person” as that term is
defined in Section 1445 of the Internal Revenue Code of 1986, as amended and the Regulations promulgated pursuant thereto. 
 (vi) Authority of Signatories; No Breach of Other Agreements, etc. The execution, delivery of and performance under this Agreement are pursuant to authority validly and duly conferred upon Duke and the signatories hereto. To
Duke’s knowledge, the consummation of the transaction herein contemplated and the compliance by Duke with the terms of this Agreement do not and will not conflict with or result in a breach of any of the terms or provisions of, or constitute a
default under, any agreement, arrangement, understanding, accord, document or instrument by which Duke is bound. 
 (vii)
Executive Order. (a) Duke is (i) not currently identified on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control, Department of the Treasury (“OFAC”) and/or
on any other similar list maintained by OFAC pursuant to any authorizing statute, executive order or regulation (collectively, the “List”), and (ii) not a person or entity with whom a citizen of the United States is prohibited
to engage in transactions by any trade embargo, economic sanction, or other prohibition of United States law, regulation, or Executive Order of the President of the United States, and (iii) not an “Embargoed Person” (as defined
below), (b) to Duke’s actual knowledge, none of the funds or other assets of Duke constitute property of, or are beneficially owned, directly or indirectly, by any Embargoed Person, and (c) to Duke’s actual knowledge, no
Embargoed Person has any interest of any nature whatsoever in any Duke (whether directly or indirectly). The term “Embargoed Person” means any person, entity or government subject to trade restrictions under U.S. law, including but not
limited to, the International Emergency Economic Powers Act, 50 U.S.C. §1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder. 
 (viii) Condemnation. There are no pending nor has Duke received written notice of any threatened suits, actions or proceedings with
respect to all or part of any Project for condemnation. 
 (ix) Environmental. Duke has received no written notice
(that remains uncured) from any governmental agency requesting that either the owner or Tenant of a Project undertake any corrective or remedial action or requiring any payment for violation of any applicable environmental law, rule, regulation,
directive or code. 
 (x) Tax Abatements. Duke has received no written notice (that remains uncured) from any
governmental agency asserting a violation under or the termination of any existing tax abatement for the Projects, which tax abatement agreements are in full force and effect. 
 (d) Survival. The representations and warranties of Duke in Article 14(c) shall survive the final Closing for a period of one
hundred eighty (180) days. 
 (e) Duke’s Knowledge. As used herein, the phrase “Duke’s
knowledge” or any derivation thereof shall mean the actual knowledge of: (i) Jason Sturman, Vice President of Fund Management, and, as to each project individually, the Senior Vice President having primary responsibility for the applicable
Project, such individuals being officers of Duke Realty Corporation, the general partner of Duke. It shall be a condition to the Closing for each Project that the representations and warranties contained in Article 14(c) are true and
correct in all material respects at Closing for the applicable 

 
Project. In the event that Duke or CBOP obtains actual knowledge that any of said representations or warranties becomes inaccurate between the Effective Date
and any Closing, Duke or CBOP, as applicable, shall immediately notify the other party in writing of such change (a “Notice of Inaccuracy”). The Closing for the applicable Project shall be automatically extended up to thirty
(30) days in order to allow Duke to cure such change if Duke elects, by written notice delivered to CBOP within five (5) business days after Duke’s receipt of a Notice of Inaccuracy. In the event Duke so cures such change by the
Closing Date (as the same may be extended pursuant to this Article 14), this Agreement shall remain in full force and effect. If Duke does not cure such change by the applicable Closing Date (as the same may be extended pursuant to
this Article 14), CBOP may either (a) partially terminate this Agreement by written notice to Duke, however that such partial termination shall only affect the Project or Projects for which Duke is in default, and the Agreement
shall otherwise continue in full force and effect, in which case the Total Project Earnest Money shall be returned to CBOP and the parties shall have no further rights or obligations hereunder with respect to the applicable Project, except for those
which expressly survive such termination, or (b) waive such right to partially terminate by proceeding with the Closing pursuant to the remaining terms and conditions of this Agreement without any reduction in the Agreed Value. In the event
CBOP elects option (b) in the preceding sentence, the representations and warranties shall be deemed to be automatically amended to reflect said change. In the event a Notice of Inaccuracy is given by Duke to CBOP, the parties shall have the
same rights and remedies as in the case of a Notice of Inaccuracy given by CBOP to Duke. 
 ARTICLE 15. Disclaimer.
Subject to the express representations of Duke in Article 14(c) or in the documents delivered by Duke pursuant to Article 10(b), it is understood and agreed that Duke is not making and has not at any time made any
warranties or representations of any kind or character, expressed or implied, with respect to the Project, including, but not limited to, any warranties or representations as to habitability, merchantability, fitness for a particular purpose, title,
zoning, tax consequences, latent or patent physical or environmental condition, utilities, operating history or projections, valuation, governmental approvals, the compliance of the Projects with governmental laws, the truth, accuracy or
completeness of the documents or any other information provided by or on behalf of Duke to CBOP and the Company, or any other matter or thing regarding the Project. Subject to the express representations of Duke in Article 14(c) or in
the documents delivered by Duke pursuant to Article 10(b), CBOP and the Company acknowledge and agree that upon each Closing, Duke shall sell and convey to the Company and the Company shall accept each Project “AS IS, WHERE IS,
WITH ALL FAULTS,” except to the extent otherwise expressly provided in this Agreement. Subject to the express representations of Duke in Article 14(c) or in the documents delivered by Duke pursuant to Article 10(b),
CBOP and the Company have not relied and will not rely on, and Duke is not liable for or bound by, any expressed or implied warranties, guaranties, statements, representations or information pertaining to the Project or relating thereto
(including specifically, without limitation, Duke’s Deliveries) made or furnished by Duke, or any real estate broker or agent representing or purporting to represent Duke, to whomever made or given, directly or indirectly, orally or in writing.
CBOP represents to Duke that CBOP has conducted, or will conduct prior to Closing, such investigations of the Project, including but not limited to, the physical and environmental conditions thereof, as CBOP deems necessary (subject to the
limitations of Article 4(a)) to satisfy itself as to the condition of the Project and the existence or nonexistence or curative action to be taken with respect to any hazardous or toxic substances on or discharged from the Projects,
and will rely solely upon same and not upon any information provided by or on behalf of Duke or its agents or employees with respect thereto, other than such representations, warranties and covenants of Duke as are expressly set forth in this
Agreement or in the documents delivered by Duke pursuant to Article 10(b). Subject to the express representations of Duke in Article 14(c) or in the documents delivered by Duke pursuant to Article 10(b),
upon each Closing, the Company shall assume the risk that adverse matters relating to the contributed Projects, including but not limited to, construction defects and adverse physical and environmental conditions, may not have been revealed by
CBOP’s investigations. Nothing in this Article 15 shall be construed to modify amend or void any construction warranties assigned to the Company at Closing pursuant to the Assignment. 

 ARTICLE 16. Limitation of Liability. Notwithstanding anything to the contrary
contained herein, after the Closing: (a) the maximum aggregate liability of Duke, and the maximum aggregate amount which may be awarded to and collected by CBOP and the Company (including, without limitation, for any breach of any
representation, warranty and/or covenant by Duke) under this Agreement or any documents executed pursuant hereto or in connection herewith, (collectively, the “Other Documents”), shall under no circumstances whatsoever exceed Eight
Million and No/100 Dollars ($8,000,000.00); and (b) no claim by CBOP or the Company alleging a breach by Duke of any representation, warranty and/or covenant of Duke contained herein or in any of the Other Documents may be made, and Duke shall
not be liable for any judgment in any action based upon any such claim, unless and until such claim, either alone or together with any other claims by CBOP or the Company alleging a breach by Duke of any such representation, warranty and/or covenant
is for an aggregate amount in excess of Twenty-Five Thousand Dollars ($25,000.00) (the “Floor Amount”), in which event Duke’s liability respecting any such claim or claims shall be for the entire amount thereof, subject to the
limitation set forth in clause (a) above. This provision shall expressly survive the Closing or the termination of this Agreement. 
 ARTICLE 17. Broker. Each party represents hereby to the other that it dealt with no broker other than CB Richard Ellis (the “Broker”) in the consummation of this Agreement and each party indemnifies the
other from any claim arising from the failure of such representation by the indemnifying party. Any compensation due to Broker shall be the sole responsibility of, and be timely paid by, Duke. This Article 16 shall expressly survive
Closing. 
 ARTICLE 18. Recording. It is agreed hereby that this Agreement shall not be filed for recording with any
governmental body. 
 ARTICLE 19. Notices. Any notice or communication which may be or is required to be given pursuant
to the terms of this Agreement shall be in writing and shall be sent to the respective party at the address set forth below, postage prepaid, by Certified Mail, Return Receipt Requested, or by a nationally recognized overnight courier service that
provides tracing and proof or receipt of items mailed or by facsimile transmission with a hard copy sent by mail, or to such other address as either party may designate by notice similarly sent. Notices shall be effective upon receipt. 

 

					
		 	To Duke or the Company:	 	Duke Realty Corporation
		 		 	600 E 96th Street, Suite 100
		 		 	Indianapolis, IN 46240
		 		 	Attn: Nick Anthony
		 		 	Telecopy: (317) 808-6794
			
		 	With a copy to:	 	Duke Realty Corporation
		 		 	3950 Shackleford Road, Suite 300
		 		 	Duluth, GA 30096
		 		 	Attn: Angela Hsu, Esq.
		 		 	Telecopy: (770) 717-2413

					
		 	With an additional copy to:	 	Alston & Bird LLP
		 		 	1201 West Peachtree Street
		 		 	Atlanta, Georgia 30309-3424
		 		 	Attn: Jay G. Farris, Jr.
		 		 	Telecopy: (404) 253-8587
			
		 	To CBOP:	 	CBRE Operating Partnership, L.P.
		 		 	c/o CB Richard Ellis Realty Trust
		 		 	17 Hulfish Street, Suite 280
		 		 	Princeton, New Jersey 08542
		 		 	Attn: Jack A. Cuneo
		 		 	Telecopy: (609) 683-8684
			
		 	With copy to:	 	CB Richard Ellis Investors, LLC
		 		 	800 Boylston Street #1475
		 		 	Boston, Massachusetts 02199
		 		 	Attn: Gary R. Jaye
		 		 	Telecopy: (617) 425-2801
			
		 	With an additional copy to	 	Kirkpatrick & Lockhart Preston Gates Ellis LLP
		 		 	599 Lexington Avenue
		 		 	New York, New York 10022-6030
		 		 	Attn: Jeffrey H. Weitzman, Esq.
		 		 	Telecopy: (212) 536-3901

 ARTICLE 20. Captions; Exhibits. The captions in this Agreement are inserted only for
the purpose of convenient reference and in no way define, limit or prescribe the scope or intent of this Agreement or any part hereof. All Exhibits attached to this Agreement are made a part hereof and incorporated herein. 
 ARTICLE 21. Successors and Assigns. Subject to the restrictions in Article 25 below, this Agreement shall be binding upon the
parties hereto and their respective successors and assigns. 
 ARTICLE 22. Governing Law. The laws of Delaware
shall govern the validity, construction, enforcement and interpretation of this Agreement generally, and with respect to each specific Project the laws of the state where the Project is located. 
 ARTICLE 23. Multiple Counterparts. This Agreement may be executed in any number of identical counterparts. If so executed,
each of such counterparts shall constitute this Agreement. In proving this Agreement, it shall not be necessary to produce or account for more than one such counterpart. 
 ARTICLE 24. Confidentiality. CBOP and its representatives shall hold in confidence all data and information relating to the Projects, Duke or its business, whether obtained before or after
the execution and delivery of this Agreement pursuant to that certain Confidentiality Agreement signed by CBRE Investors, LLC, an affiliate of CBOP, which is incorporated herein and which CBOP hereby assumes and reaffirms. In addition, CBOP and Duke
agree to keep the terms and provisions of this 

 
Agreement, the Operating Agreement and the Future Asset Agreement confidential and not to disclose the terms thereof. Notwithstanding the foregoing, each of
Duke and CBOP shall have the right to disclose such data and information: (i) to the officers, directors, trustees, partners and employees of it, (ii) to it’s attorneys, accountants, environmental consultants, engineers and advisers,
participating in the investigation and analysis of the Projects, (iii) in order to comply with any governmental order, rule, regulation, subpoena, regulatory authority requirement or request, (iv) in order to enforce any rights or remedies
of it under this Agreement, or (v) in an announcement to the general public upon execution of this Agreement or the consummation of the Closing hereunder, provided that the parties shall reasonably cooperate in coordinating the timing and
content of the announcement. In the event of a breach or threatened breach by CBOP or its representatives of this Article 24, Duke shall be entitled to all remedies set forth in the Confidentiality Agreement. Nothing in this Agreement shall
be construed as prohibiting Duke or CBOP from pursuing any other available remedy at law or in equity for such breach or threatened breach of this Article 24. The provisions of this Article 24 shall survive the final Closing and
any termination of this Agreement. 
 ARTICLE 25. Prohibition Against Assignment. Except as hereinafter set forth,
CBOP’s rights and obligations hereunder shall not be assignable without the prior written consent of Duke in Duke’s sole discretion. CBOP shall have the right, upon written notice to Duke, but without Duke’s consent, to assign its
rights under this Agreement to an entity owned or controlled, directly or indirectly, by CBOP; provided, that CBOP shall in no event be released from any of its obligations or liabilities hereunder in connection with any assignment, and any
assignment shall benefit and be binding upon the parties hereto and their respective successors and assigns. 
 ARTICLE 26.
Financial Accounting Statement. Duke agrees to cooperate with CBOP after each Closing in connection with the preparation and delivery of an audit letter and credit statements required under FAS 141, including making Duke’s
books and records relating to the Projects available to CBOP for inspection, copying and audit by CBOP’s representatives at CBOP’s expense. The provisions of this Article shall survive the final Closing. 
 ARTICLE 27. Required Disclosure For Jacksonville Project. 
 The property described herein is part of the Westlake Development of Regional Impact and is subject to a Development Order, notice of which is recorded in the public records of Duval County, Florida, which imposes
conditions, restrictions and limitations upon the use and development of the subject property which are binding upon each successor and assign. The Development Order does not constitute a lien, cloud or encumbrance of real property or actual or
constructive notice of same. A copy of the Development Order may be reviewed at the office of the Planning Department, Jacksonville, Florida, or at the office of the Department of Community Affairs, State of Florida, Tallahassee, Florida.

 [Signatures begin on following page] 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as an instrument as of the day and date first written
above. 
  

							
	DUKE:
	
	DUKE REALTY LIMITED PARTNERSHIP,
	an Indiana limited partnership
		
	 By:
	 	 Duke Realty Corporation, an Indiana
 corporation, its general partner

			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	THE COMPANY:
	
	DUKE/HULFISH, LLC
		
	By:	 	 Duke Realty Limited Partnership
 an Indiana
limited partnership

							
			
		 	By:	 	 Duke Realty Corporation, an Indiana
 corporation, its general partner

				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

			
	CBOP:
	
	 CBRE OPERATING PARTNERSHIP, L.P.,
 a Delaware limited partnership

		
	By:	 	 CB Richard Ellis Realty Trust,
 a Maryland real estate
investment trust,
 its general partner

		
	By:	 	  

	Name:	 	Jack A. Cuneo
	Title:	 	PresidentRemarketing Agreement

 Exhibit 4.1 
 REMARKETING AGREEMENT 
 REMARKETING AGREEMENT, dated as of April 1, 2008 (the
“Agreement”), between Wells Fargo & Company, a Delaware corporation, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) and Morgan Stanley & Co. Incorporated (“Morgan
Stanley”). 
 WHEREAS, the Company (as defined below) has issued $3,000,000,000 aggregate principal amount of its Floating Rate
Convertible Senior Debentures due 2033 (the “Debentures”), pursuant to an indenture, dated as of April 15, 2003, between the Company and Citibank, N.A., as trustee (the “Trustee”), as amended by the First Supplemental
Indenture, dated as of November 8, 2004 and the Second Supplemental Indenture, dated as of April 1, 2008 (together, the “Indenture”); and 
 WHEREAS, the Company has requested that Merrill Lynch and Morgan Stanley act as Remarketing Agents (as defined below) with respect to the remarketing of the Debentures tendered for remarketing on the Remarketing Reset
Date (as defined below) and as such to perform the services described herein; and 
 WHEREAS, Merrill Lynch and Morgan Stanley, severally and
not jointly, are prepared to act as the Remarketing Agents with respect to the remarketing of the Debentures on the Remarketing Reset Date pursuant to the terms of, but subject to the conditions set forth in, this Agreement; 
 NOW, THEREFORE, for and in consideration of the covenants herein made, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, and subject to the conditions herein set forth, the parties hereto agree as follows: 
 Section 1.
Definitions. Capitalized terms used and not defined in this Agreement shall have the meanings assigned to them in the Indenture (including the form of the Debentures). 
 “Accreted Principal Amount” shall have the meaning assigned to such term in the Indenture. 
 “Applicable Time” shall mean the date and time of sale of Debentures in the remarketing as specified by the Remarketing Agents to the Company
in the notice provided pursuant to Section 4(e) of this Agreement, or, if no date and time is specified, 4:00 p.m., New York City time, on the Remarketing Reset Date. 
 “Beneficial Owners” means the owners at any time of beneficial interests in the Debentures. 
 “Business Day” shall have the meaning assigned to such term in the Indenture. 
 “Closing Date” means the third Business Day following a successful remarketing on the Remarketing Reset Date. 

 “Commission” means the Securities and Exchange Commission. 
 “Company” means Wells Fargo & Company and its successors under this Agreement. 
 “Depositary” means The Depository Trust Company and its successors. 
 “Failed Remarketing” shall have the meaning assigned to such term in Section 4(i) of this Agreement. 
 “Final Term Sheet” shall have the meaning assigned to such term in Section 3(b)(i) of this Agreement. 
 “Free Writing Prospectus” means a free writing prospectus, as defined in Rule 405 under the 1933 Act. 
 “Holders” shall have the meaning assigned to such term in the Indenture. 
 “Issuer Free Writing Prospectus” means any “issuer free writing prospectus,” as defined in Rule 433 of the 1933 Act Regulations
(“Rule 433”), relating to the remarketing of the Debentures that (i) is required to be filed with the Commission by the Company, or (ii) is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the
Debentures or of the remarketing that does not reflect the final terms, in each case in the form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company’s records pursuant to Rule
433(g). 
 “1933 Act” means the Securities Act of 1933, as amended. 
 “1933 Act Regulations” means the rules and regulations promulgated by the Commission from time to time under the 1933 Act. 
 “1934 Act” means the Securities Exchange Act of 1934, as amended. 
 “1934 Act Documents” shall have the meaning assigned to such term in Section 2(a) of this Agreement. 
 “1934 Act Regulations” means the rules and regulations promulgated by the Commission from time to time under the 1934 Act. 
 “1939 Act” means the Trust Indenture Act of 1939, as amended. 
 “1939 Act Regulations” means the rules and regulations promulgated by the Commission from time to time under the 1939 Act. 
 “Nationally Recognized Statistical Rating Organization” shall have the meaning assigned to such term in Section 3(a) of this Agreement. 
 “Original Principal Amount” shall have the meaning assigned to such term in the Indenture. 

 “Paying Agent” means Wells Fargo Bank, N.A. and its successors. 
 “Purchase Agreement” means the purchase agreement, dated April 9, 2003, between the Company and the initial purchasers party thereto
relating to the initial issuance and sale of the Debentures. 
 “Prospectus” shall have the meaning assigned to such term in
Section 3(b) of this Agreement. 
 “Registration Statement” shall have the meaning assigned to such term in Section 3(b)
of this Agreement. 
 “Remarketing Agents” means Merrill Lynch and Morgan Stanley, acting severally and not jointly, in their
capacity as remarketing agents hereunder, and its successors and assigns. 
 “Remarketing Materials” shall have the meaning
assigned to such term in Section 3(c) of this Agreement. 
 “Remarketing Memorandum” shall have the meaning assigned to such
term in Section 3(b)(iii) of this Agreement. 
 “Remarketing Reset Date” means May 1, 2008, subject to such date being a
Required Remarketing Date. 
 “Remarketing Reset Event” shall have the meaning assigned to such term in the Indenture. 

“Remarketing Reset Event Date” shall have the meaning assigned to such term in the Indenture. 
 “Representation Date” shall have the meaning assigned to such term in Section 2(a) of this Agreement. 
 “Required Remarketing Date” shall have the meaning assigned to such term in Section 4(g) of this Agreement. 
 “Reset Yield” shall have the meaning assigned to such term in Section 4(c) of this Agreement. 
 “Underwriting Agreement” means the form of underwriting agreement attached as Annex II to this Agreement. 
 Section 2. Representations and Warranties. (a) The Company represents and warrants to the Remarketing Agents as of the date hereof, the
Remarketing Reset Date, the Applicable Time and the Closing Date (each such time and/or date being hereinafter referred to as a “Representation Date”), that (i) it has made all the filings with the Commission that it is required to
make under the 1934 Act and the 1934 Act Regulations (collectively, the “1934 Act Documents”), (ii) each 1934 Act Document complies in all material respects with the 

 
requirements of the 1934 Act and 1934 Act Regulations, and each 1934 Act Document did not at the time of filing with the Commission, and as of each
Representation Date, as modified or superseded by any subsequently filed 1934 Act Document on or prior to such Representation Date, will not, include an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iii) the applicable Remarketing Materials, as of each Representation Date after the date hereof, as
modified or superseded by any subsequently filed 1934 Act Document on or prior to such Representation Date (or, if applicable, by any Issuer Free Writing Prospectus or other document filed pursuant to the 1933 Act and the 1933 Act Regulations), will
not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading
(and, if applicable, any such Issuer Free Writing Prospectus, as of its issue date and at all subsequent times through the completion of the remarketing of the Debentures or until any earlier date that the Company notifies the Remarketing Agents as
described in Section 3(c), will not include any information that will conflict with the information contained in the Remarketing Materials, including any document incorporated by reference therein and any preliminary or other prospectus deemed
to be a part thereof that has not been superseded or modified). 
 (b) The Company further represents and warrants to the Remarketing Agents
as of each Representation Date as follows: 
 (i) This Agreement has been duly authorized, executed and delivered by the
Company and, assuming it has been duly executed and delivered by the Remarketing Agents, constitutes a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except as the enforcement thereof may be
limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization, moratorium or similar laws affecting enforcement of creditors’ rights generally and except as enforcement thereof is
subject to general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law), and except further as the enforcement thereof may be subject to limitations on rights to indemnity or contribution or both
by Federal or state securities laws or the public policies underlying such laws. 
 (ii) The Indenture has been duly
authorized, executed and delivered by the Company and duly qualified under the Trust Indenture Act of 1939, as amended (the “1939 Act”), and, assuming it has been duly executed and delivered by the Trustee, constitutes a valid and binding
agreement of the Company, enforceable against the Company in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers),
reorganization, moratorium or similar laws affecting enforcement of creditors’ rights generally and except as enforcement thereof is subject to general principles of equity (regardless of whether enforcement is considered in a proceeding in
equity or at law). 
 (iii) The Debentures have been duly authorized and executed by the Company and authenticated, issued and
delivered in the manner provided for in the 

 
Indenture and delivered against payment of the purchase price therefor as provided in the Purchase Agreement, and constitute valid and binding obligations of
the Company, enforceable against the Company in accordance with their terms, except as the enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization,
moratorium or similar laws affecting enforcement of creditors’ rights generally and except as enforcement thereof is subject to general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law),
and are in the form contemplated by, and entitled to the benefits of, the Indenture. 
 (iv) There is no action, suit,
proceeding, inquiry or investigation before or brought by any court or governmental agency or body, domestic or foreign, now pending, or, to the knowledge of the Company, threatened, against or affecting the Company or any subsidiary, which is
required to be disclosed in the 1934 Act Documents (other than as disclosed therein), or which might reasonably be expected to result in a material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or
business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, or which might reasonably be expected to materially and adversely affect the properties or assets thereof
or the consummation of the transactions contemplated in this Agreement or the performance by the Company of its obligations hereunder. 
 (v) The Debentures are rated AA+ by Standard & Poor’s Rating Services and Aa1 by Moody’s Investor Services, Inc. or such other rating as to which the Company shall have most recently notified the
Remarketing Agents pursuant to Section 3(a) hereof. 
 (vi) Consistent with the applicable provisions in the Indenture,
prior to the Remarketing Reset Date, the Company shall have removed from the Debentures any legend relating to restrictions on transfer of the Debentures and provided for the “unrestricted” CUSIP to apply to all of the Debentures.

 References in the foregoing representation and warranty (iv) to the 1934 Act Documents shall be deemed to refer to the Registration
Statement (as defined in Section 3(b) below) and Prospectus (as defined in Section 3(b) below), in each case including the documents incorporated by reference therein, if such are required pursuant to Section 3(e) hereof. 

(c) Additional Certifications. Any certificate signed by any director or officer of the Company and delivered to the Remarketing Agents or to
counsel for the Remarketing Agents in connection with the remarketing of the Debentures shall be deemed a representation and warranty by the Company to the Remarketing Agents as to the matters covered thereby. 
 Section 3. Covenants of the Company. The Company covenants with the Remarketing Agents as follows: 
 (a) The Company will provide prompt notice by telephone, confirmed in writing (which may include facsimile or other electronic transmission), to the
Remarketing 

 
Agents of (i) any notification or announcement by a “Nationally Recognized Statistical Rating Organization” (as defined in
Section 3(a)(62) of the 1934 Act) with regard to the ratings of any securities of the Company, including, without limitation, notification or announcement of a downgrade in or withdrawal of the rating of any security of the Company or
notification or announcement of the placement of any rating of any securities of the Company under surveillance or review, including placement on CreditWatch or on Watch List with negative implications, or (ii) the occurrence at
any time of any event set forth in Section 8(b)(ii), (iii)(A), (v) or (vi) of this Agreement. 
 (b) The Company, at its
expense, will furnish to the Remarketing Agents: 
 (i)(A) if required as provided in paragraph (e) below for purposes of
the remarketing, a then currently effective registration statement under the 1933 Act and a then current preliminary and/or final prospectus relating to the Debentures to be used by the Remarketing Agents for remarketing and resale of the Debentures
(such registration statement and any amendments thereto, including any such preliminary and/or final prospectus relating to the Debentures constituting a part thereof, and all documents incorporated therein by reference and all documents otherwise
deemed to be a part thereof or included therein by the 1933 Act Regulations, as from time to time amended or supplemented pursuant to the 1934 Act, the 1933 Act, or otherwise, are referred to herein as the “Registration Statement” and the
“Prospectus,” respectively, except that if any revised preliminary or final prospectus shall be provided to the Remarketing Agents by the Company for use in connection with the remarketing of the Debentures which differs from the
Prospectus on file at the Commission, the term “Prospectus” shall refer to such revised preliminary or final prospectus from and after the time it is first provided to the Remarketing Agents for such use), (B) if so requested by the
Remarketing Agents, a final term sheet (the “Final Term Sheet”) reflecting the final terms of the Debentures being remarketed, in form and substance satisfactory to the Remarketing Agents, and (C) any other Issuer Free Writing
Prospectus relating to the remarketing of the Debentures; 
 (ii) each 1934 Act Document filed after the date hereof;

 (iii) in connection with the remarketing of Debentures, such other information as the Remarketing Agents may reasonably
request from time to time; it being understood that, if a Prospectus is not prepared pursuant to paragraph (e) below, the Remarketing Agents may, in their discretion, deliver to purchasers and prospective purchasers, in connection with the
remarketing, a preliminary and final remarketing memorandum or other form of written communication describing the Company and/or the terms of the Debentures (each, a “Remarketing Memorandum”), the form of each of which shall be delivered
to the Company not less than two Business Days prior to its use. Any such Remarketing Memorandum shall be subject to the approval of the Company prior to its use by the Remarketing Agents; and 
 (iv) an officers’ certificate, a favorable opinion (including a statement as to the absence of material misstatements in or omissions
from the then-current Remarketing Materials relating to the remarketing of the Debentures) of Mary Schaffner, Esq., counsel for the Company and a “comfort letter” or letters from the Company’s 

 
independent accountants, in each case in form and substance satisfactory to the Remarketing Agents, of the same tenor as the officers’ certificate,
opinion and comfort letter, respectively, delivered pursuant to the Purchase Agreement, but modified to relate to the then-current Remarketing Materials relating to the remarketing of the Debentures, and in each case as of the date or dates and
times specified by the Remarketing Agents in Annex I hereto. 
 The Company agrees to provide the Remarketing Agents with as many copies of
the foregoing written materials and other Company-approved information as the Remarketing Agents may reasonably request for use in connection with the remarketing of Debentures and consents to the use thereof for such purpose. 
 (c) If, at any time during which the Remarketing Agents would be obligated to take any action under this Agreement, any event or condition known to the
Company relating to or affecting the Company, any subsidiary thereof or the Debentures shall occur which could reasonably be expected to cause any of the reports, documents, materials or information referred to in paragraph (b)(i), (ii) or
(iii) above or any document incorporated therein by reference (collectively, the “Remarketing Materials”) to contain an untrue statement of a material fact or omit to state a material fact, or, in the case of any Issuer Free Writing
Prospectus, if applicable, forming part of the Remarketing Materials, as a result of which such Issuer Free Writing Prospectus would conflict with the information otherwise contained in the Remarketing Materials, the Company shall promptly notify
the Remarketing Agents in writing of the circumstances and details of such event or condition; and the Company, at its expense, shall promptly prepare and provide to the Remarketing Agents such report or other document as may be necessary to
eliminate or correct such statement, omission or conflict, and, if required, will file such report or other document with the Commission and will forward to the Remarketing Agents copies thereof a reasonable amount of time prior to the proposed
filing. 
 (d) So long as the Debentures are outstanding and the Remarketing Agents would be obligated to take any action under this
Agreement, the Company will file all documents required to be filed with the Commission pursuant to the 1934 Act within the time periods required by the 1934 Act and the 1934 Act Regulations. 
 (e) The Company will comply with the 1933 Act and the 1933 Act Regulations, the 1934 Act and the 1934 Act Regulations and the 1939 Act and the 1939 Act
Regulations so as to permit the completion of the remarketing of the Debentures as freely transferable securities, as contemplated in this Agreement and in the offering memorandum relating to the initial issuance of the Debentures. In furtherance of
the foregoing, if it shall be necessary, in the opinion of counsel for the Remarketing Agents or for the Company to use a Registration Statement and a Prospectus in order to comply with the requirements of the 1933 Act or the 1933 Act Regulations
and the Commission’s interpretations of the 1933 Act and the 1933 Act Regulations, or if at any time when a Prospectus is required by the 1933 Act or the 1933 Act Regulations to be delivered in connection with remarketing and resales of the
Debentures, any event shall occur or condition shall exist as a result of which it is necessary, in the opinion of counsel for the Remarketing Agents or for the Company, to amend the Registration Statement or amend or supplement the Prospectus in
order that the Prospectus will not include any untrue statement of a material fact or omit to state a material fact necessary in 

 
order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, the Company, at
its expense, will promptly prepare and timely file with the Commission such Registration Statement (which Registration Statement shall not be the subject of a pending proceeding or examination under Section 8(d) or 8(e) of the 1933 Act, and the
Company shall not be the subject of a pending proceeding under Section 8A of the 1933 Act in connection with the remarketing of the Debentures) and Prospectus, or such amendment or supplement as may be necessary to correct such statement or
omission as referred to above or to make the Registration Statement or the Prospectus comply with such requirements as referred to above, prepare and timely file any Final Term Sheet as an Issuer Free Writing Prospectus or such amendment or
supplement as may be necessary to correct such statement or omission as referred to above or any conflict with the information contained in the Registration Statement and Prospectus, and, if applicable, timely pay any required Commission filing fees
relating to the remarketing of the Debentures and update the “Calculation of Registration Fee” table in accordance with the 1933 Act Regulations. 
 (f) The Company shall provide to the Remarketing Agents and any other broker-dealer participating in the remarketing of the Debentures the opportunity to conduct an underwriter’s due diligence investigation of
the Company in a scope customarily provided in connection with a public offering of the Company’s debt securities. 
 (g) To the extent
that a Registration Statement and a Prospectus are required as contemplated in paragraph (e) above and to the extent not otherwise already provided in this Agreement, the Company agrees to provide representations, warranties, covenants and
indemnification of the same tenor as those set forth in the Underwriting Agreement, but modified to relate to the Registration Statement, Prospectus and any Issuer Free Writing Prospectus or other communications relating to the remarketing of the
Debentures and to comply with then applicable law and regulations, including, without limitation, the 1933 Act and the 1933 Act Regulations, the 1934 Act and the 1934 Act Regulations and the 1939 Act and the 1939 Act Regulations, applicable to a
registered public offering of securities. 
 (h) The Company agrees that, unless it obtains the prior written consent of the Remarketing
Agents, and each Remarketing Agent, severally and not jointly, agrees with the Company that, unless it has obtained or will obtain, as the case may be, the prior written consent of the Company, it has not made and will not make any offer relating to
the Debentures that would constitute an Issuer Free Writing Prospectus or that would otherwise constitute a Free Writing Prospectus required to be filed with the Commission or retained by the Company under Rule 433 under the 1933 Act. Any such Free
Writing Prospectus consented to by the Remarketing Agents or the Company is hereinafter referred to as a “Permitted Free Writing Prospectus.” The Company agrees that (x) it has treated and will treat, as the case may be, each
Permitted Free Writing Prospectus as an Issuer Free Writing Prospectus and (y) it has complied and will comply, as the case may be, with the requirements of Rules 164 and 433 under the 1933 Act applicable to any Permitted Free Writing
Prospectus, including in respect of timely filing with the Commission, legending and record keeping. 
 (i) The Company will arrange for the
qualification of the Debentures for sale under the laws of such jurisdictions as the Remarketing Agents may designate, will maintain such qualifications in effect so long as required to complete the remarketing of the Debentures; 

 
provided, however, that the Company shall not be required to qualify to do business in any jurisdiction where it is not now so qualified or to
take any action which would subject it to general or unlimited service of process in any jurisdiction where it is not now so subject or subject itself to taxation in any jurisdiction where it is not now so subject. 
 Section 4. Appointment and Obligations of the Remarketing Agents. (a) Unless this Agreement is otherwise terminated in accordance with
Section 11 hereof, in accordance with the terms, but subject to the conditions, of this Agreement, the Company hereby appoints Merrill Lynch and Morgan Stanley, and Merrill Lynch and Morgan Stanley hereby accept such appointment, to use their
reasonable best efforts to remarket the Debentures in accordance with the Indenture and this Agreement as the exclusive Remarketing Agents with respect to the Debentures duly tendered for remarketing and not withdrawn. The Company agrees that a
Remarketing Agent shall have the right (with the agreement of the other Remarketing Agent), on prior notice to the Company, to appoint one or more additional remarketing agents so long as any such additional remarketing agents shall be reasonably
acceptable to the Company. Upon any such appointment, the parties shall enter into an appropriate amendment to this Agreement to reflect the addition of any such remarketing agent. 
 (b) It is expressly understood and agreed by and between the parties hereto that the Remarketing Agents shall not be obligated to set the Reset Yield on
any Debentures, to remarket any Debentures or to perform any of the other duties set forth herein (i) unless a Remarketing Reset Event shall have occurred or (ii) at any time that (A) any of the conditions set forth in clause
(a) of Section 8 hereof shall not have been fully and completely met to the satisfaction of the Remarketing Agents, or (B) any of the events set forth in clause (b) of Section 8 hereof shall have occurred or is continuing.

 (c) The yield on the Debentures will be reset by the Remarketing Agents on the Remarketing Reset Date to the yield (the “Reset
Yield”) for the period from and including the Remarketing Reset Date to but excluding May 1, 2009 (or, if such day is not a Business Day, the immediately succeeding Business Day) necessary for the proceeds from the remarketing of the
Debentures, net of any fee to the Remarketing Agents, to be 100% of the Accreted Principal Amount, as of such Remarketing Reset Date, of the Debentures remarketed; provided that the Reset Yield shall not exceed the maximum rate permitted by law and
shall not be less than 0% per annum. 
 (d) Notwithstanding the foregoing, if (i) Holders of less than $50 million aggregate Original
Principal Amount of Debentures elect to have their Debentures remarketed on the Remarketing Reset Date pursuant to Section 15.03 of the Indenture or (ii) a Failed Remarketing occurs on the Remarketing Reset Date, the Reset Yield shall be
the yield necessary, in the judgment of the Remarketing Agents based on bids from at least three independent nationally recognized securities dealers selected by the Remarketing Agents, for the Debentures to trade at a price equal to 100% of the
Accreted Principal Amount thereof as of such Remarketing Reset Date. If the Remarketing Agents are not able to obtain bids from at least three independent nationally recognized securities dealers on the Remarketing Reset Date, the Reset Yield shall
be the regular interest rate in effect for the Debentures immediately prior to the Remarketing Reset Date. 

 (e) By approximately 4:30 p.m., New York City time, on the Remarketing Reset Date, the Remarketing Agents
shall notify the Company, the Trustee, the Paying Agent and the Depositary by telephone, confirmed in writing (which may include facsimile or other electronic transmission), of the Reset Yield and the Company only of the Applicable Time or, if
applicable, a Failed Remarketing. The Company shall issue a press release stating such Reset Yield and publish such information on its website on the World Wide Web. The Reset Yield, determined as provided in this Section 4, shall be conclusive
and binding on the Holders and Beneficial Owners of the Debentures. 
 (f) On the Remarketing Reset Date, each Holder of Debentures will have
the right to elect to have its Debentures remarketed by notice to the Paying Agent on or prior to the Business Day immediately prior to the Remarketing Reset Date of the Original Principal Amount of Debentures such Holder wants to have remarketed if
a Remarketing Reset Event occurs (a “Notice of Remarketing”). As early as practicable, and, in any event, by 5 p.m., New York City time, on the Business Day prior to the Remarketing Reset Date, the Company shall notify the Remarketing
Agent and the Trustee by telephone, confirmed in writing (which may include facsimile or other electronic transmission), of the Original Principal Amount of Debentures that is subject to a duly submitted Notice of Remarketing that is not withdrawn.

 (g) If on the Remarketing Reset Date a Remarketing Reset Event occurs and Holders of at least $50 million aggregate Original Principal
Amount of Debentures have elected to have their Debentures remarketed (a “Required Remarketing Date”), the Remarketing Agents shall use their reasonable best efforts to conduct such remarketing in accordance with the terms of this
Agreement and the Indenture. 
 (h) If the Debentures are successfully remarketed by the Remarketing Agents on the Remarketing Reset Date,
the Remarketing Agents shall deduct the fee specified in Annex I to this Agreement from the proceeds of such remarketing and remit the remaining proceeds, which shall be at least 100% of the Accreted Principal Amount of the Debentures remarketed, to
the Holders who elected to participate in such remarketing on the Closing Date. 
 (i) If, by 4:00 p.m., New York City time, on the Required
Remarketing Date, the Remarketing Agents are unable to remarket all Debentures for which an election to remarket has been made or if, at any time prior to delivery of and payment for the Debentures on the Closing Date, a condition precedent in this
Agreement shall not have been fulfilled, a failed remarketing (“Failed Remarketing”) shall be deemed to have occurred. In the event of a Failed Remarketing, the Company shall issue a press release regarding such Failed Remarketing and
stating the aggregate Original Principal Amount of Debentures that the Company will repurchase as required pursuant to Section 15.04(a) of the Indenture and publish such information on its website on the World Wide Web. 
 (j) The Company will request, not later than 20 Business Days prior to the date by which Holders are required to give notice pursuant to
Section 15.03(a) of the Indenture, that the Depositary notify its participants of the potential remarketing of the Debentures, the procedures a Beneficial Owner must follow to elect to participate in such remarketing, the date by which such
election must be made and the right of the Beneficial Owners of Debentures to require the Company to purchase Debentures if there is a Failed Remarketing. The Company will also issue a press release and publish such information on its website on the
World Wide Web. 

 (k) It is understood and agreed that the Remarketing Agents shall not have any obligation whatsoever to
purchase any Debentures, whether in the remarketing or otherwise, and shall in no way be obligated to provide funds to make payment upon tender of Debentures for remarketing or to otherwise expend or risk their own funds or incur or be exposed to
financial liability in the performance of their respective duties under this Agreement. 
 Section 5. Fees and Expenses. The
Company agrees that the fees to be paid to the Remarketing Agents in connection with the remarketing will be as set forth in Annex I hereto. The Company will pay all expenses of the Remarketing Agents in connection with this Agreement, including:
(a) the preparation, filing (if applicable), printing and delivery of any Remarketing Memorandum or the Registration Statement and the Prospectus, if any, and any amendments or supplements thereto, in connection with the remarketing of the
Debentures; (b) the preparation and delivery of this Agreement and such other documents as may be required in connection with the remarketing of the Debentures; (c) the fees and disbursements of the Company’s accountants, counsel and
other advisors or agents and of the fees and disbursements of the Trustee and Paying Agent; (d) the fees charged by Nationally Recognized Statistical Rating Organizations for the rating of the Debentures; and (e) the reasonable fees and
disbursements of counsel to the Remarketing Agents (including for advice with respect to Rule 2a-7 under the Investment Company Act of 1940). 
 Section 6. Resignation or Removal of the Remarketing Agents. (a) A Remarketing Agent may resign and be discharged from its duties and obligations hereunder at any time, such resignation to be effective 10 days after
delivery of a written notice to the Company and the Trustee of such resignation. 
 (b) A Remarketing Agent also may resign and be discharged
from its duties and obligations hereunder at any time, such resignation to be effective immediately, upon termination of this Agreement as to such Remarketing Agent in accordance with Section 11(b) hereof. 
 (c) The Company may remove a Remarketing Agent by giving not less than 10 days’ prior written notice to the Remarketing Agents, such removal
to be effective upon the expiration of such notice period and the Company’s appointment of a successor Remarketing Agent. In such case, the Company will use its best efforts to appoint a successor Remarketing Agent and amend this Agreement
accordingly or enter into a remarketing agreement with such person as soon as reasonably practicable. 
 (d) It shall be the sole
responsibility of the Company to appoint successor Remarketing Agents. 
 Section 7. Dealing in the Debentures; Purchase of
Debentures by the Company. (a) Merrill Lynch and Morgan Stanley, when acting as the Remarketing Agents or in their individual or any other capacity, may, to the extent permitted by law, buy, sell, hold and deal in any of the Debentures.
Merrill Lynch and Morgan Stanley, as Holders or Beneficial Owners of 

 
the Debentures, may exercise any vote or join as a Holder or Beneficial Owner, as the case may be, in any action which any Holder or Beneficial Owner of
Debentures may be entitled to exercise or take pursuant to the Indenture with like effect as if they did not act in any capacity hereunder. The Remarketing Agents, in their capacity either as principal or agent, may also engage in or have an
interest in any financial or other transaction with the Company as freely as if they did not act in any capacity hereunder. 
 (b) The Company
may purchase Debentures in the remarketing, provided that, in the event that any Beneficial Owners of Debentures have not elected to participate in the remarketing, the Reset Yield established with respect to Debentures in the remarketing is not
different from the Reset Yield that would have been established if the Company had not purchased such Debentures. 
 Section 8.
Conditions to Remarketing Agents’ Obligations. The obligations of the Remarketing Agents under this Agreement have been undertaken in reliance on, and shall be subject to: 
 (a) the due performance by the Company of its obligations and agreements as set forth in this Agreement and the accuracy of the representations and
warranties in this Agreement and any certificate delivered pursuant hereto; and 
 (b) the further condition that none of the following events
shall have occurred at any time during which the Remarketing Agents would otherwise be obligated to take any action under this Agreement, as determined by the Remarketing Agents in their sole judgment: 
 (i)(A) there shall have occurred any downgrading, or any notice shall have been given of any intended or potential downgrading or of
any review for a possible change that does not indicate the direction of the possible change, in the rating accorded the Company or any of the Company’s securities or in the rating outlook for the Company by any Nationally Recognized
Statistical Rating Organization or (B) the rating assigned to the Debentures shall be lower than AA+ (or the equivalent) or withdrawn by any Nationally Recognized Statistical Rating Organization; 
 (ii) without the prior written consent of the Remarketing Agents, (A) the Indenture (including the Debentures) shall have been
amended in any manner, or otherwise contain any provision not contained therein as of the date hereof, that in either case was not approved by the Remarketing Agents and in the judgment of the Remarketing Agents materially change the nature of the
Debentures or the remarketing procedures or (B) any person shall succeed to, or the Company shall otherwise assign, transfer or convey, the obligations of the Company under the Indenture and the Debentures (it being understood that,
notwithstanding the provisions of this clause (ii), the Company shall not be prohibited from amending the Indenture); 
 (iii)(A) trading in any securities of the Company shall have been suspended or materially limited on any exchange or in any over-the-counter market; or (B) trading generally on the New York Stock Exchange shall have been suspended or
materially limited, or minimum or maximum prices for trading shall have been fixed, or 

 
maximum ranges for prices shall have been required, by said exchange or by order of the Commission, FINRA or any other governmental authority, or a material
disruption has occurred in commercial banking or securities settlement or clearance services in the United States, or a banking moratorium shall have been declared by Federal, California or New York authorities; 
 (iv) there shall have occurred any material adverse change in the financial markets in the United States or the international financial
markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political, financial or economic conditions, in each case the effect of
which is such as to make it, in the judgment of the Remarketing Agents, impracticable to remarket the Debentures or to enforce contracts for the sale of the Debentures; 
 (v) an Event of Default, or any event which, with the giving of notice or passage of time, or both, would constitute an Event of Default,
with respect to the Debentures shall have occurred and be continuing; 
 (vi) a material adverse change in the condition,
financial or otherwise, or in the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, shall have occurred; or 
 (vii) the Company shall fail to furnish to the Remarketing Agents or, as the case may be, approve on a timely basis a Remarketing
Memorandum (whether preliminary and/or final) or, as applicable, a Prospectus (whether preliminary and/or final) and the Final Term Sheet, if any, or on the Closing Date (or other date specified in Annex I) the officers’ certificate, opinion
and comfort letter(s), in each case as referred to in Section 3(b) of this Agreement, and such other documents and opinions as counsel for the Remarketing Agents may reasonably require for the purpose of enabling such counsel to pass upon the
sale of Debentures in the remarketing as herein contemplated and related proceedings, or in order to evidence the accuracy and completeness of any of the representations and warranties, or the fulfillment of any of the conditions, herein contained,
or the Remarketing Agents shall not have received on the Closing Date a favorable opinion (including a statement as to the absence of material misstatements in or omissions from the then-current Remarketing Materials relating to the remarketing of
the Debentures) of counsel for the Remarketing Agents; 
 and the Remarketing Agents shall have received on the Remarketing Reset Date a certificate of the
Company, signed by any Senior Vice President or Executive Vice President and the principal financial officer or accounting officer of the Company, dated as of the Remarketing Reset Date, to the effect that (i) the representations and warranties
in this Agreement are true and correct with the same force and effect as though expressly made at and as of the Remarketing Reset Date, (ii) the Company has complied with all agreements and satisfied all conditions on its part to be performed
or satisfied at or prior to the Remarketing Reset Date and (iii) none of the events specified in this clause (b) has occurred; and 

 (c) In the event of the failure of any of the foregoing conditions, the Remarketing Agents may terminate
their obligations under this Agreement as provided in Section 11. 
 Section 9. Indemnification. (a) The Company agrees
to indemnify and hold harmless each of the Remarketing Agents and their affiliates, officers, directors and employees and each person, if any, who controls each of the Remarketing Agents within the meaning of Section 20 of the 1934 Act as
follows: 
 (i) against any loss, liability, claim, damage and expense whatsoever, as incurred, arising out of, (A) the
failure to have an effective Registration Statement under the 1933 Act relating to the Debentures, if required, or the failure to satisfy the prospectus delivery requirements of the 1933 Act because the Company failed to provide the Remarketing
Agents with a Prospectus or Final Term Sheet for delivery, or the failure by the Company to timely pay any required Commission filing fees relating to the remarketing of the Debentures or to make any related required filing with the Commission, or
(B) any untrue statement or alleged untrue statement of a material fact contained in any of the Remarketing Materials (including any incorporated documents), or (C) the omission or alleged omission therefrom of a material fact necessary to
make the statements therein, in the light of the circumstances in which they were made, not misleading, or (D) any violation by the Company of, or any failure by the Company to perform any of its obligations under, this Agreement, or
(E) the acts or omissions of the Remarketing Agents in connection with their duties and obligations to determine the Reset Yield hereunder except that are finally judicially determined to be due to their gross negligence, willful misconduct or
bad faith; 
 (ii) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of
the aggregate amount paid in settlement of any litigation, or investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever arising out of, or based upon, any of items (A) through
(E) in clause (i) above; provided that such settlement is effected with the written consent of the Company; and 
 (iii) against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel chosen by the Remarketing Agents), reasonably incurred in investigating, preparing or defending against any litigation, or any
investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever arising out of, or based upon, any of items (A) through (E) in clause (i) above to the extent that any such expense is
not paid under (i) or (ii) above; 
 provided, however, that the foregoing indemnity shall not apply to any losses, liabilities,
claims, damages and expenses to the extent arising out of any untrue statement or omission made in reliance upon and in conformity with written information furnished to the Company by the Remarketing Agents expressly for use in the Remarketing
Materials. 

 (b) The Remarketing Agents, severally and not jointly, agree to indemnify and hold harmless the Company,
its directors and its officers, from and against any loss, liability, claim, damage and expense, as incurred, but only with respect to untrue statements or omissions made in the Remarketing Materials in reliance upon and in conformity with
information furnished to the Company in writing by the Remarketing Agents expressly for use in such Remarketing Materials. The indemnity agreement in this paragraph shall extend upon the same terms and conditions to each person, if any, who controls
the Company within the meaning of Section 20 of the 1934 Act. 
 (c) Each indemnified party shall give notice as promptly as reasonably
practicable to each indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any liability hereunder to
the extent it is not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. In the case of parties indemnified pursuant to clause
(a) above, counsel to the indemnified parties shall be selected by the Remarketing Agents and, in the case of parties indemnified pursuant to clause (b) above, counsel to the indemnified parties shall be selected by the Company. In case
any such action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and to the extent that it shall wish, jointly, with any
other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party). In
any such proceeding, any indemnified party shall have the right to obtain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party
shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnified party and the indemnifying party and representation of both parties by
the same counsel would be inappropriate due to actual or potential conflicts of interests between them. In no event shall the indemnifying parties be liable for fees and expenses of more than one counsel (in addition to any local counsel) separate
from their own counsel for all indemnified parties in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances. No indemnifying party shall,
without the prior written consent of the indemnified parties (which consent shall not be unreasonably withheld or delayed), settle or compromise or consent to the entry of any judgment with respect to any litigation, or any investigation or
proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought under this Section 9 or Section 10 hereof (whether or not the indemnified
parties are actual or potential parties thereto), unless such settlement, compromise or consent (i) includes an unconditional release of each indemnified party from all liability arising out of such litigation, investigation, proceeding or
claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. 
 (d) The indemnity agreements contained in this Section 9 shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of the Remarketing Agents, and shall survive the
termination or cancellation of this Agreement and the remarketing of any Debentures hereunder. 

 Section 10. Contribution. If the indemnification provided for in Section 9 hereof is for
any reason unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such
losses, liabilities, claims, damages and expenses incurred by such indemnified party, as incurred, (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and each Remarketing Agent on
the other hand from the remarketing of the Debentures pursuant to this Agreement or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) above but also the relative fault of the Company on the one hand and of each Remarketing Agent on the other hand in connection with the acts, failures to act, statements or omissions which resulted in such
losses, liabilities, claims, damages or expenses, as well as any other relevant equitable considerations. 
 The relative benefits received
by the Company on the one hand and each Remarketing Agent on the other hand in connection with the remarketing of the Debentures pursuant to this Agreement shall be deemed to be in the same respective proportions as (i) the aggregate principal
amount of the Debentures, and (ii) the fee received by such Remarketing Agent in connection with the remarketing of the Debentures tendered on the Remarketing Reset Date. 
 The relative fault of the Company on the one hand and each Remarketing Agent on the other hand shall be determined by reference to, among other things,
the responsibility hereunder of the applicable party for any act or failure to act relating to the losses, liabilities, claims, damages or expenses incurred or, in the case of any losses, liabilities, claims, damages or expenses arising out of any
untrue or alleged untrue statement of a material fact contained in any of the Remarketing Materials or the omission or alleged omission to state a material fact therefrom, whether any such untrue or alleged untrue statement of a material fact or
omission or alleged omission to state a material fact relates to information supplied by the Company or by the Remarketing Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission. 
 The Company and the Remarketing Agents agree that it would not be just and equitable if contribution pursuant to
this Section 10 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to above in this Section 10. The aggregate amount of losses, liabilities,
claims, damages and expenses incurred by an indemnified party and referred to above in this Section 10 shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in investigating, preparing or defending
against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such act or failure to act or untrue or alleged untrue statement or omission or alleged
omission. 
 Notwithstanding the provisions of this Section 10, no Remarketing Agent shall be required to contribute any amount in
excess of the amount by which the total price at which the Debentures remarketed by it and resold to the public were sold to the public exceeds the amount 

 
of any damages which such Remarketing Agent has otherwise been required to pay by reason of any act or failure to act for which it is responsible hereunder
or any untrue or alleged untrue statement or omission or alleged omission. 
 No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 
 For purposes of this Section 10, each person, if any, who controls a Remarketing Agent within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the same rights to
contribution as such Remarketing Agent, and each director of the Company, each officer of the Company, and each person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall
have the same rights to contribution as the Company. 
 Section 11. Termination of Remarketing Agreement. (a) This Agreement
shall terminate as to a Remarketing Agent on the effective date of the resignation or removal of such Remarketing Agent pursuant to Section 6 hereof. 
 (b) In addition, a Remarketing Agent may terminate all of its obligations under this Agreement immediately by notifying the Company and the other Remarketing Agent of its election to do so, at any time on or before
the Closing Date, in the event that: (i) any of the conditions referred to or set forth in Section 8(a) hereof have not been met or satisfied in full, or the Company shall have failed to comply with the certification requirements of
Section 8(b); (ii) any of the events set forth in Section 8(b) hereof shall have occurred or be continuing; or (iii) a Remarketing Agent determines, in its sole discretion, after consultation with the Company and the other
Remarketing Agent, that it shall not have received all of the information, whether or not specifically referenced herein, necessary to fulfill its obligations under this Agreement. 
 (c) If this Agreement is terminated pursuant to this Section, such termination shall be without liability of any party to any other party, except that,
in the case of removal of a Remarketing Agent by the Company pursuant to Section 6 or termination pursuant to Section 11(b) of this Agreement, the Company shall reimburse the Remarketing Agent or Agents for all of its or their
out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Remarketing Agents. Sections 2, 5, 9, 10, 11(c) and 12 shall survive termination of this Agreement and remain in full force and effect. 
 Section 12. Remarketing Agents’ Performance; Duty of Care. (a) The duties and obligations of the Remarketing Agents shall be
determined solely by the express provisions of this Agreement and the Indenture. No implied covenants or obligations of or against the Remarketing Agents shall be read into this Agreement or the Indenture. In the absence of bad faith on the part of
the Remarketing Agents, the Remarketing Agents may conclusively rely upon any document furnished to them, which purports to conform to the requirements of this Agreement and the Indenture, as to the truth of the statements expressed in any of such
documents. The Remarketing Agents shall be protected in acting upon any document or communication reasonably believed by them to have been signed, presented or made by the proper party or parties. The Remarketing Agents shall incur no liability
hereunder to any 

 
Beneficial Owner or Holder of Debentures in their individual capacity or as Remarketing Agents for any action or failure to act in connection with the
remarketing or otherwise. A Remarketing Agent shall incur no liability to the Company with respect to calculation of the Reset Yield, except as a result of gross negligence, willful misconduct or bad faith on its part. 
 (b) The Company acknowledges and agrees that (i) the transaction contemplated by this Agreement is an arm’s-length commercial transaction
between the Company, on the one hand, and the Remarketing Agents, on the other hand, (ii) in connection with the transaction contemplated hereby and the process leading to such transaction the Remarketing Agents are and have been acting solely
as a principal and not as the agent (except to the extent expressly provided herein, which the parties acknowledge is solely a contractual obligation) or fiduciary of the Company, or its stockholders, creditors, employees or any other party,
(iii) the Remarketing Agents have not assumed nor will they assume an advisory or fiduciary responsibility in favor of the Company with respect to the transaction contemplated hereby or the process leading thereto (irrespective of whether the
Remarketing Agents have advised or are currently advising the Company on other matters) and the Remarketing Agents have no obligation to the Company with respect to the transaction contemplated hereby except the obligations expressly set forth in
this Agreement, (iv) the Remarketing Agents and their affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Company, and (v) the Remarketing Agents have not provided any legal,
accounting, regulatory or tax advice with respect to the transaction contemplated hereby and the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent it deemed appropriate. 
 Section 13. Integration. This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company and
the Remarketing Agents with respect to the subject matter hereof. 
 Section 14. Tax Disclosure. Notwithstanding any other
provision of this Agreement, immediately upon commencement of discussions with respect to the transactions contemplated hereby, the Company (and each employee, representative or other agent of the Company) may disclose to any and all persons,
without limitation of any kind, the tax treatment and tax structure of the transactions contemplated by this Agreement and all materials of any kind (including opinions or other tax analyses) that are provided to the Company relating to such tax
treatment and tax structure. For purposes of the foregoing, the term “tax treatment” is the purported or claimed federal income tax treatment of the transactions contemplated hereby, and the term “tax structure” includes any fact
that may be relevant to understanding the purported or claimed federal income tax treatment of the transactions contemplated hereby. 
 Section 15. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE. 
 Section 16. Term of Agreement. Unless otherwise terminated in accordance with the provisions hereof, this Agreement shall remain in full
force and effect from the date hereof until the later of the Closing Date and the completion of the remarketing of the Debentures. 

 
Regardless of any termination or expiration of this Agreement pursuant to any of the provisions hereof, the obligations of the Company pursuant to Sections
2, 5, 9, 10, 11(c) and 12 hereof shall remain operative and in full force and effect until fully satisfied. 
 Section 17. Successors
and Assigns. The rights and obligations of the Company hereunder may not be assigned or delegated to any other person without the prior written consent of the Remarketing Agents. The rights and obligations of the Remarketing Agents hereunder may
not be assigned or delegated to any other person (other than an affiliate of the Remarketing Agents) without the prior written consent of the Company. This Agreement shall inure to the benefit of and be binding upon the Company and the Remarketing
Agents and their respective successors and assigns, and will not confer any benefit upon any other person, partnership, association or corporation other than persons, if any, controlling the Remarketing Agents within the meaning of Section 15
of the 1933 Act or Section 20 of the 1934 Act, or any indemnified party to the extent provided in Section 9 hereof, or any person entitled to contribution to the extent provided in Section 10 hereof. The terms “successors”
and “assigns” shall not include any purchaser of any Debentures merely because of such purchase. 
 Section 18.
Headings. Section headings have been inserted in this Agreement as a matter of convenience of reference only, and it is agreed that such section headings are not a part of this Agreement and will not be used in the interpretation of any
provisions of this Agreement. 
 Section 19. Severability. If any provision of this Agreement shall be held or deemed to be or
shall, in fact, be invalid, inoperative or unenforceable as applied in any particular case in any or all jurisdictions because it conflicts with any provision of any constitution, statute, rule or public policy or for any other reason, such
circumstances shall not have the effect of rendering the provision in question invalid, inoperative or unenforceable in any other case, circumstance or jurisdiction, or of rendering any other provision or provisions of this Agreement invalid,
inoperative or unenforceable to any extent whatsoever. 
 Section 20. Counterparts. This Agreement may be executed in several
counterparts, each of which shall be regarded as an original and all of which shall constitute one and the same document. 
 Section 21.
Amendments. This Agreement may be amended by any instrument in writing signed by each of the parties hereto so long as this Agreement as amended is not inconsistent with the Indenture in effect as of the date of any such amendment.

 Section 22. Notices. Unless otherwise specified, any notices, requests, consents or other communications given or made
hereunder or pursuant hereto shall be made in writing (which may include facsimile or other electronic transmission) and shall be deemed to have been validly given or made when delivered or mailed, registered or certified mail, return receipt
requested and postage prepaid, addressed as follows: 
  

	 	(a)	to the Company: 

 Wells Fargo & Company

 Sixth and Marquette 
 Minneapolis, Minnesota 55402 
 Attention: Barbara S. Brett 
 Facsimile No.: (612) 667-3839 

 With a copy to: Laurel A. Holschuh 
 Wells Fargo & Company 
 Sixth and
Marquette 
 Minneapolis, Minnesota 55402 
 Facsimile No.: (612) 667-6082 
  

	 	(b)	to Merrill Lynch: 

 Merrill Lynch, Pierce,
Fenner & Smith Incorporated 
 4 World Financial Center, Floor 25 
 New York, New York 10080 
 Attention: Vinnie
Badinehal 
 Telephone No.: (212) 449-8742 
 Facsimile No.: (212) 449-1188 
 With a copy to: Scott Primrose/Global Transaction Management Group

 4 World Financial Center, Floor 15 
 New York, New York 10080 
 Telephone No.: (212) 449-7476 
 Facsimile No.: (212) 449-2234 
 E-mail:
scott_primrose@ ml.com 
  

	 	(c)	to Morgan Stanley: 

 Morgan Stanley & Co.
Incorporated 
 1685 Broadway, 29th Floor 
 New York, New York 10036 
 Attention: Investment Banking Division 
 Telephone No.: (212) 761-6691 
 Facsimile No.: (212) 507-8999 
 or to such other address as the Company or the Remarketing Agents shall specify in writing. 

 IN WITNESS WHEREOF, each of the Company and the Remarketing Agents has caused this Agreement to be
executed in its name and on its behalf by one of its duly authorized officers as of the date first above written. 
  

			
	 WELLS FARGO & COMPANY

		
	By	 	 /s/ Barbara S. Brett

	Name:	 	Barbara S. Brett
	Title:	 	Senior Vice President and Assistant Treasurer
	
	 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

		
	By	 	 /s/ Yurij Slyz

		 	Authorized Signatory
	
	 MORGAN STANLEY & CO. INCORPORATED

		
	By	 	 /s/ Venkat Badinehal

		 	Authorized Signatory

 Annex I 
  

			
	 Remarketing Fee:
	 	The Company agrees that the following fees will be paid to the Remarketing Agents in connection with the remarketing pursuant to the Remarketing Agreement: 0.05% (5 basis points) of the
principal amount of the Debentures remarketed.
		
	 Delivery Date(s) for
 Documents Required Pursuant
 to Section 3(b)(iv):
	 	(i) comfort letter: on the Remarketing Reset Date, with a “bring-down” comfort letter on the Closing Date, in each case with a “cut-off date five days prior to the applicable
Delivery Date;
		
		 	(ii) officers’ certificate, legal opinions and related closing documents: at 10:00 a.m., New York City time, on the Closing Date.

 Annex II 
 [Form of Underwriting Agreement] 

 Wells Fargo & Company 
 $[            ] 
 $[            ] Notes Due [            ] 
 Underwriting Agreement 
 [DATE] 
 To the Representatives 
 named in Schedule I 
 hereto of the Underwriters 
 named in Schedule II hereto 
 Ladies and Gentlemen: 
 Wells Fargo & Company, a
Delaware corporation (the “Company”), proposes to sell to the underwriters named in Schedule II hereto (the “Underwriters”), for whom you are acting as Representatives (the “Representatives”), the principal amount of
its securities identified in Schedule I hereto (the “Securities”), to be issued under the indenture identified in Schedule I hereto (the “Indenture”), with Citibank, N.A. as the trustee (the “Trustee”). If the firm or
firms listed in Schedule II hereto include only the firm or firms listed in Schedule I hereto, then the terms “Underwriters” and “Representatives”, as used herein, shall each be deemed to refer to such firm or firms. 

1. Representations and Warranties. The Company represents and warrants to, and agrees with, each Underwriter that: 
 (a) The Company meets the requirements for use of Form S-3 under the Securities Act of 1933, as amended (the “Act”) and has
filed with the Securities and Exchange Commission (the “Commission”) an automatic shelf registration statement on such Form as defined in Rule 405 under the Act (the file number of which is set forth in Schedule I hereto) for the
registration under the Act of the Securities. Such registration statement, including any amendments thereto, became effective upon filing. The Company proposes to file with the Commission pursuant to Rule 424 under the Act a supplement to a form of
prospectus included in such registration statement relating to the Securities in the form heretofore delivered to you. Such registration statement, including all exhibits thereto (but excluding the Statements of Eligibility on Form T-1), as amended
at the date of this Agreement, and including any prospectus supplement relating to the Securities that is filed with the Commission pursuant to Rule 

 
424(b) under the Act and deemed part of such registration statement pursuant to Rule 430B under the Act, is hereinafter called the “Registration
Statement”; such prospectus in the form in which it appears in the Registration Statement is hereinafter called the “Basic Prospectus” and such supplemented form of prospectus, in the form in which it shall be filed with the
Commission pursuant to Rule 424(b) (including the Basic Prospectus as so supplemented) is hereinafter called the “Final Prospectus”. Any preliminary form of the Final Prospectus which has been or will be filed pursuant to Rule 424 is
hereinafter called the “Preliminary Final Prospectus”. Any reference herein to the Registration Statement, the Basic Prospectus, any Preliminary Final Prospectus or the Final Prospectus shall be deemed to refer to and include the documents
incorporated by reference therein pursuant to Item 12 of Form S-3 which were filed under the Securities Exchange Act of 1934 (the “Exchange Act”) on or before the date of this Agreement, or the issue date of the Basic Prospectus, any
Preliminary Final Prospectus or the Final Prospectus, as the case may be; and any reference herein to the terms “amend”, “amendment” or “supplement” with respect to the Registration Statement, the Basic Prospectus, any
Preliminary Final Prospectus or the Final Prospectus shall be deemed to refer to and include the filing of any document under the Exchange Act after the date of this Agreement, or the issue date of the Basic Prospectus, any Preliminary Final
Prospectus or the Final Prospectus, as the case may be, and deemed to be incorporated therein by reference. 
 (b) As of the
date hereof, when the Final Prospectus is first filed pursuant to Rule 424(b) under the Act, when, prior to the Closing Date (as hereinafter defined), any amendment to the Registration Statement becomes effective (including the filing of any
document incorporated by reference in the Registration Statement), when any supplement to the Final Prospectus is filed with the Commission and at the Closing Date (as hereinafter defined), (i) the Registration Statement, as amended as of any
such time, and the Final Prospectus, as amended or supplemented as of any such time, and the Indenture will comply in all material respects with the applicable requirements of the Act, the Trust Indenture Act of 1939 (the “Trust Indenture
Act”) and the Exchange Act and the respective rules thereunder and (ii) neither the Registration Statement, as amended as of any such time, nor the Final Prospectus, as amended or supplemented as of any such time, will contain any untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein not misleading; provided, however, that the Company makes no representations or warranties as
to (i) that part of the Registration Statement which shall constitute the Statements of Eligibility on Form T-1 under the Trust Indenture Act of the Trustee, or (ii) the information contained in or omitted from the Registration Statement
or the Final Prospectus or any amendment thereof or supplement thereto in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of any Underwriter through the Representatives specifically for use in
connection with the preparation of the Registration Statement and the Final Prospectus (it being understood and agreed that the only such information contained in the 

 
Registration Statement or Final Prospectus furnished by any Underwriter consists of such information described as such in a letter dated the Closing Date
(the “Blood Letter”) delivered by the Representatives to the Company). 
 (c) At the Applicable Time, the Disclosure
Package does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The preceding
sentence does not apply to statements in or omissions from the Disclosure Package based upon and in conformity with written information furnished to the Company by any Underwriter through the Representatives specifically for use therein, it being
understood and agreed that the only such information furnished by or on behalf of any Underwriter consists of the information described as such in the Blood Letter. 
 (d) (i) At the time of filing the Registration Statement, (ii) at the time of the most recent amendment thereto for the purposes of
complying with Section 10(a)(3) of the Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Sections 13 or 15(d) of the Exchange Act or form of prospectus) and (iii) at the time the Company or
any person acting on its behalf (within the meaning, for this clause only, of Rule 163(c) under the Act) made any offer relating to the Securities in reliance on the exemption in Rule 163 under the Act, the Company was or is (as the case may be) a
“well-known seasoned issuer” as defined in Rule 405 under the Act. The Company agrees to pay the fees required by the Commission relating to the Securities within the time required by Rule 456(b)(1) under the Act without regard to the
proviso therein and otherwise in accordance with Rules 456(b) and 457(r) under the Act. 
 (e) At the earliest time after the
filing of the Registration Statement that the Company or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) under the Act) of the Securities, the Company was not and is not an Ineligible Issuer (as
defined in Rule 405 under the Act), without taking account of any determination by the Commission pursuant to Rule 405 that it is not necessary that the Company be considered an Ineligible Issuer. 
 (f) Each Issuer Free Writing Prospectus does not include any information that conflicts with the information contained in the Registration
Statement, including any document incorporated therein and any prospectus supplement deemed to be a part thereof that has not been superseded or modified. The foregoing sentence does not apply to statements in or omissions from any Issuer Free
Writing Prospectus based upon and in conformity with written information furnished to the Company by any Underwriter through the Representatives specifically for use therein, it being understood and agreed that the only such information furnished by
or on behalf of any Underwriter consists of the information described as such in the Blood Letter. 

 (g) Certain Definitions. For purposes hereof: 
 (i) “Disclosure Package” shall mean (i) the Basic Prospectus, as amended and supplemented to the Applicable Time,
(ii) the Issuer Free Writing Prospectuses identified in Schedule III hereto, and (iii) any other Free Writing Prospectus that the parties hereto shall hereafter expressly agree in writing to treat as part of the Disclosure Package.

 (ii) “Applicable Time” shall mean the Applicable Time listed in Schedule I hereto. 
 (iii) “Free Writing Prospectus” shall mean a free writing prospectus, as defined in Rule 405 under the Act. 
 (iv) “Issuer Free Writing Prospectus” shall mean an issuer free writing prospectus, as defined in Rule 433 under the Act, that
(i) is required to be filed with the Commission by the Company or (ii) is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or the offering that does not reflect the final terms.

 2. Purchase and Sale. Subject to the terms and conditions and in reliance upon the representations and warranties herein set forth,
the Company agrees to sell to each Underwriter, and each Underwriter agrees, severally and not jointly, to purchase from the Company, at the purchase price set forth in Schedule I hereto, the principal amount of the Securities set forth opposite
such Underwriter’s name in Schedule II hereto. 
 3. Delivery and Payment. Delivery of and payment for the Securities shall be
made at the office, on the date and at the time specified in Schedule I hereto, which date and time may be postponed by agreement between the Representatives and the Company or as provided in Section 8 hereof (such date and time of delivery and
payment for the Securities being herein called the “Closing Date”). Delivery of the Securities shall be made to the Representatives for the respective accounts of the several Underwriters against payment by the several Underwriters through
the Representatives of the purchase price thereof in the manner set forth in Schedule I hereto. The Company will deliver against payment of the purchase price the Securities in the form of one or more permanent global securities in definitive form
deposited with or on behalf of the Trustee as custodian for The Depository Trust Company (“DTC”) for credit to the respective accounts of the Underwriters and registered in the name of Cede & Co., as nominee for DTC. Interests in
the permanent global Securities will be held only in book-entry form through DTC, except in the limited circumstances described in the Final Prospectus. 
 4. Agreements. The Company agrees with the several Underwriters that: 
 (a) The
Company will provide to counsel for the Underwriters one manually executed copy of the Registration Statement, including all exhibits thereto, in the form it became effective and all amendments thereto. Prior to the Closing Date, the Company will
not file any amendment of the Registration Statement or supplement (including the Final Prospectus) to the Basic Prospectus unless the Company has furnished you a copy for your review prior to filing and 

 
will not file any such proposed amendment or supplement to which you reasonably object promptly after notice thereof. Neither the Representatives’
consent to, nor the Underwriters’ delivery of, any such amendment or supplement shall constitute a waiver of any of the conditions set forth in Section 5 hereof. Subject to the foregoing sentence, the Company will cause the Final
Prospectus to be filed pursuant to Rule 424(b) under the Act not later than the close of business on the second business day following the execution and delivery of this Agreement. The Company will promptly advise the Representatives (i) when
the Final Prospectus shall have been filed with the Commission pursuant to Rule 424(b), (ii) when any amendment to the Registration Statement relating to the Securities shall have become effective, (iii) of any request by the Commission
for any amendment of the Registration Statement or amendment of or supplement to the Final Prospectus or for any additional information, (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration
Statement, or of any notice that would prevent its use, or the institution or threatening of any proceeding for that purpose and (v) of the receipt by the Company of any notification with respect to the suspension of the qualification of the
Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose. In the event of the issuance of any stop order preventing or suspending the use of any Preliminary Final Prospectus or Final Prospectus, the
Company will use promptly its best efforts to obtain the withdrawal of such stop order. 
 (b) To prepare a final term sheet
in a form approved by you and to file such term sheet pursuant to Rule 433(d)(5)(ii) under the Act within the time required by such Rule. Any such final term sheet shall be an Issuer Free Writing Prospectus. 
 (c) If there occurs an event or development as a result of which the Disclosure Package would include an untrue statement of a material
fact or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances then prevailing, not misleading, the Company will notify promptly the Representatives so that any use of the Disclosure
Package may cease until it is amended or supplemented. 
 (d) If, at any time when a prospectus relating to the Securities is
required to be delivered under the Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172), any event occurs as a result of which the Final Prospectus as then amended or supplemented would include any untrue
statement of a material fact or omit to state any material fact necessary to make the statements therein in the light of the circumstances under which they were made not misleading, or if it shall be necessary to amend or supplement the Final
Prospectus to comply with the Act or the Exchange Act or the respective rules thereunder, including in connection with use or delivery of the Final Prospectus, the Company will promptly notify you and will, upon your request, prepare and file with
the Commission an amendment or supplement which will correct such statement or omission or an amendment which will effect such 

 
compliance. Neither the Representatives’ request for, nor the Underwriters’ delivery of, any such amendment or supplement shall constitute a waiver
of any of the conditions set forth in Section 5 hereof. 
 (e) As soon as practicable, the Company will make generally
available to its security holders an earnings statement or statements of the Company and its subsidiaries which will satisfy the provisions of Section 11(a) of the Act. 
 (f) The Company will furnish to the Representatives and counsel for the Underwriters, without charge, copies of the Registration Statement
(including exhibits thereto) and each amendment thereto which shall become effective on or prior to the Closing Date and, so long as delivery of a prospectus by an Underwriter or dealer may be required by the Act (including in circumstances where
such requirement may be satisfied pursuant to Rule 172), as many copies of any Preliminary Final Prospectus, the Final Prospectus and each Issuer Free Writing Prospectus included in the Disclosure Package and any amendments thereof and supplements
thereto as the Representatives may reasonably request. The Company will pay the expenses of printing or other production of all documents relating to the offering and the expenses incurred in distributing the Final Prospectus to the Underwriters.

 (g) The Company will arrange for the qualification of the Securities for sale under the laws of such jurisdictions as the
Representatives may designate, will maintain such qualifications in effect so long as required to complete the distribution of the Securities; provided, however, that the Company shall not be required to qualify to do business in any
jurisdiction where it is not now so qualified or to take any action which would subject it to general or unlimited service of process in any jurisdiction where it is not now so subject or subject itself to taxation in any jurisdiction where it is
not now so subject. 
 (h) Until the business day following the Closing Date or such earlier time as you may notify the
Company, the Company will not, without the consent of the Representatives, offer or sell, or announce the offering of, any debt securities that are substantially similar to the Securities (other than commercial paper) and are covered by the
Registration Statement or any other registration statement filed under the Act. 
 (i) The Company agrees that, unless it
obtains the prior written consent of the Representatives, and each Underwriter, severally and not jointly, agrees with the Company that, unless it has obtained or will obtain, as the case may be, the prior written consent of the Company, it has not
made and will not make any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus or that would otherwise constitute a Free Writing Prospectus required to be filed with the Commission or retained by the Company
under Rule 433 under the Act; provided that the prior written consent of the parties hereto shall be deemed to have been given in respect of the Free Writing Prospectuses included in Schedule III hereto. Any such Free Writing Prospectus consented to

 
by the Representatives or the Company is hereinafter referred to as a “Permitted Free Writing Prospectus.” The Company agrees that (x) it has
treated and will treat, as the case may be, each Permitted Free Writing Prospectus as an Issuer Free Writing Prospectus and (y) it has complied and will comply, as the case may be, with the requirements of Rules 164 and 433 under the Act
applicable to any Permitted Free Writing Prospectus, including in respect of timely filing with the Commission, legending and record keeping. 
 (j) The Company will pay all expenses incident to the performance of its obligations under this Agreement, for any filing fees or other expenses (including fees and disbursements of counsel) in connection with
qualification of the Securities for sale and determination of their eligibility for investment under the laws of such jurisdictions as the Representatives may designate and the printing of memoranda relating thereto, for any fees charged by
investment rating agencies for the rating of the Securities, for any travel expenses of the Company’s officers and employees and any other expenses of the Company in connection with attending or hosting meetings with prospective purchasers of
Securities and for expenses incurred in distributing any Preliminary Final Prospectus, the Free Writing Prospectuses included in Schedule III hereto or the Final Prospectus. 
 (k) The Company will cooperate with the Representatives and use all commercially reasonable efforts to permit the Securities to be
eligible for clearance and settlement through DTC, the Euroclear System and Clearstream Banking S.A., as applicable. 
 5. Conditions to
the Obligations of the Underwriters. The obligations of the Underwriters to purchase the Securities shall be subject to the accuracy of the representations and warranties on the part of the Company contained herein as of the date hereof, as of
the date of the effectiveness of any amendment to the Registration Statement filed after the date hereof and prior to the Closing Date (including the filing of any document incorporated by reference therein) and as of the Closing Date, to the
accuracy of the statements of the Company made in any certificates pursuant to the provisions hereof, to the performance by the Company of its obligations hereunder and to the following additional conditions: 
 (a) No stop order suspending the effectiveness of the Registration Statement, as amended from time to time, or any notice under Rule
401(g)(2) that would prevent its use, shall have been issued and no proceedings for that purpose shall have been instituted or threatened by the Commission; the Final Prospectus shall have been filed with the Commission pursuant to Rule 424(b) not
later than the close of business on the second business day following the execution and delivery of this Agreement; and the final term sheet contemplated by Section 4(b) hereto, and any other material required to be filed by the Company
pursuant to Rule 433(d) under the Act, shall have been filed with the Commission within the applicable time periods prescribed for such filings by Rule 433. 

 (b) The Company shall have furnished to the Representatives the opinion of Jeannine E.
Zahn, Senior Counsel of the Company or another of the Company’s lawyers, dated the Closing Date, to the effect that: 
 (i) the Company has been duly incorporated and is a validly existing corporation in good standing under the laws of the State of Delaware, has the corporate power and authority to own its properties and conduct its business as described in
the Disclosure Package or the Final Prospectus, and is duly registered as a financial holding company and a bank holding company under the Bank Holding Company Act of 1956, as amended; Wells Fargo Bank, National Association (“Wells Fargo
Bank”) is a national banking association authorized to transact the business of banking under the National Bank Act of 1864, as amended; and WFC Holdings Corporation (“WFC Holdings” and together with Wells Fargo Bank, the
“Significant Subsidiaries”) is a duly organized and validly existing corporation under the laws of the State of Delaware; 
 (ii) each of the Company and the Significant Subsidiaries is duly qualified to do business and is in good standing in each jurisdiction which requires such qualification wherein it owns or leases any material properties or conducts any
material business, except where the failure to so qualify would not have any material adverse effect upon the business, condition or properties of the Company and its subsidiaries, taken as a whole; 
 (iii) all of the outstanding shares of capital stock of each Significant Subsidiary have been duly and validly authorized and issued and
are fully paid and (except as provided in 12 U.S.C. §55 in the case of Wells Fargo Bank) nonassessable, and are owned directly or indirectly by the Company free and clear of any perfected security interest and, to the knowledge of such counsel,
any other security interests, claims, liens or encumbrances; 
 (iv) the number and type of equity securities the Company is
authorized to issue is as set forth in the Disclosure Package or the Final Prospectus; 
 (v) to such counsel’s
knowledge, there are no legal or governmental proceedings pending or threatened which are required to be disclosed in the Disclosure Package or the Final Prospectus, other than as disclosed therein, and there is no contract or other document of a
character required to be described or referred to in the Registration Statement or required to be filed as an exhibit thereto other than those described or referred to therein or filed or incorporated by reference as exhibits thereto, and the
description thereof or references thereto are correct; 

 (vi) neither the issue and sale of the Securities, nor the consummation of any other of
the transactions herein contemplated nor the fulfillment of the terms hereof or the Indenture will result in a breach of, or constitute a default under, any indenture or other agreement or instrument to which the Company or any Significant
Subsidiary is a party or bound and which constitutes a material contract and is set forth as an exhibit to the Company’s most recent Annual Report on Form 10-K or any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or
any other indenture or material agreement or instrument known to such counsel and to which the Company or any Significant Subsidiary is a party or bound, the breach of which would have a material adverse effect on the financial condition of the
Company and its subsidiaries, taken as a whole, or violate any order or regulation known to such counsel to be applicable to the Company or any Significant Subsidiary of any court, regulatory body, administrative agency, governmental body or
arbitrator having jurisdiction over the Company or any Significant Subsidiary; nor will such action result in any violation of the provisions of the Restated Certificate of Incorporation or By-Laws of the Company; 
 (vii) the statements in the Final Prospectus (other than statements furnished in writing to the Company by or on behalf of an Underwriter
through the Representatives, it being understood and agreed that the only such information furnished by any Underwriter consists of such information described as such in the Blood Letter) under the captions “Description of Debt
Securities”, “Plan of Distribution”, “Description of the Notes”, and “Underwriting” insofar as they purport to summarize certain provisions of documents or laws specifically referred to therein, are accurate
summaries of such provisions or laws or of the sources from which such summaries were derived; 
 (viii) the Indenture has
been duly authorized, executed and delivered by the Company, has been duly qualified under the Trust Indenture Act, as amended, and (assuming the Indenture has been duly authorized, executed and delivered by the Trustee) constitutes a valid and
legally binding instrument enforceable against the Company in accordance with its terms (subject, as to enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors’ rights
generally from time to time in effect and subject to general equity principles (regardless of whether enforceability is considered in a proceeding in equity or at law) and except further as enforcement thereof may be limited by any governmental
authority that limits, delays or prohibits the making of payments outside the United States); and the Securities have been duly authorized and executed by the Company and, when authenticated in accordance with the provisions of the Indenture and
delivered to and paid for by the Underwriters pursuant to this Agreement, the Securities will constitute valid and legally binding obligations of the Company enforceable against the Company in 

 
accordance with their terms and entitled to the benefits of the Indenture (subject, as to enforcement of remedies, to applicable bankruptcy, reorganization,
insolvency, moratorium or other laws affecting creditors’ rights generally from time to time in effect and subject to general equity principles (regardless of whether enforceability is considered in a proceeding in equity or at law) and except
further as enforcement thereof may be limited by any governmental authority that limits, delays or prohibits the making of payments outside the United States); 
 (ix) the Registration Statement and any amendments thereto have become effective under the Act; to the knowledge of such counsel, no stop
order suspending the effectiveness of the Registration Statement, as amended, or any notice under Rule 401(g)(2) that would prevent its use, has been issued and no proceedings for that purpose have been instituted or threatened; the Registration
Statement, the Final Prospectus and each amendment thereof or supplement thereto as of their respective effective or issue dates (other than the financial statements and other financial and statistical information contained therein, other than
statements furnished in writing to the Company by or on behalf of an Underwriter through the Representatives (it being understood and agreed that the only such information furnished by any Underwriter consists of such information described as such
in the Blood Letter) and other than the Statements of Eligibility on Form T-1 included or incorporated by reference therein, as to which such counsel need express no opinion) complied as to form in all material respects with the applicable
requirements of the Act and the Exchange Act and the respective rules thereunder; and such counsel has no reason to believe that the Registration Statement, or any amendment thereof, at the time it became effective (other than the financial
statements and other financial and statistical information contained therein, other than statements furnished in writing to the Company by or on behalf of an Underwriter through the Representatives (it being understood and agreed that the only such
information furnished by any Underwriter consists of such information described as such in the Blood Letter) and other than the Statements of Eligibility on Form T-1 included or incorporated by reference therein, as to which such counsel need
express no opinion), contained any untrue statement of a material fact or omitted to state any material fact required to be stated therein or necessary to make the statements therein not misleading or that the Final Prospectus, as of its date or as
amended or supplemented at the Closing Date (other than the financial statements and other financial and statistical information contained therein, other than statements furnished in writing to the Company by or on behalf of an Underwriter through
the Representatives (it being understood and agreed that the only such information furnished by any Underwriter consists of such information described as such in the Blood Letter) and other than the Statements of Eligibility on Form T-1 included or
incorporated by reference therein, as to which such counsel need express no opinion), included or includes any untrue statement of a 

 
material fact or omitted or omits to state a material fact necessary to make the statements therein, in light of the circumstances under which they were
made, not misleading; 
 (x) such counsel has no reason to believe that the Disclosure Package, as of the Applicable Time,
contained any untrue statement of a material fact or omitted to state any material fact necessary in order to make the statements therein, in the light of circumstances under which they were made, not misleading (other than the financial statements
and other financial and statistical information contained therein, other than statements furnished in writing to the Company by or on behalf of an Underwriter through the Representatives (it being understood and agreed that the only such information
furnished by any Underwriter consists of such information described as such in the Blood Letter) and other than the Statements of Eligibility on Form T-1 included or incorporated by reference therein, as to which such counsel need express no
opinion); 
 (xi) this Agreement has been duly authorized, executed and delivered by the Company; and 
 (xii) no consent, approval, authorization or order of any court or government agency or body is required for the consummation of the
transactions contemplated herein, except such as have been obtained under the Act and the Trust Indenture Act and such as may be required under the Blue Sky laws of any jurisdiction or FINRA regulations in connection with the purchase and
distribution of the Securities by the Underwriters. 
 In rendering such opinion, such counsel may rely (A) as to matters
involving the application of laws of any jurisdiction other than the State of Minnesota and the Delaware General Corporation Law or the United States, to the extent deemed proper and specified in such opinion, upon the opinion of counsel who are
satisfactory to counsel for the Underwriters; and (B) as to matters of fact, to the extent deemed proper, on certificates of responsible officers of the Company and its subsidiaries and public officials. 
 (c) The Representatives shall have received from their counsel such opinion or opinions, dated the Closing Date, with respect to the
issuance and sale of the Securities, the Indenture, the Registration Statement, the Disclosure Package, the Final Prospectus and other related matters as the Representatives may reasonably require, and the Company shall have furnished to such
counsel such documents as it requests for the purpose of enabling it to pass upon such matters. 
 (d) The Company shall have
furnished to the Representatives a certificate of the Company, signed by any Senior Vice President or Executive Vice President and the principal financial or accounting officer of the Company, dated the Closing Date, to the effect that: 

(i) the representations and warranties of the Company in Section 1 hereof are true and correct on and as of the Closing Date with
the same effect as if made on the Closing Date, and the Company has complied with all the agreements and satisfied all the conditions on its part to be performed or satisfied at or prior to the Closing Date; 

 (ii) no stop order suspending the effectiveness of the Registration Statement, as
amended, or notice under Rule 401(g)(2) that would prevent its use, has been issued and no proceedings for that purpose have been instituted or threatened; and 
 (iii) since the date of the most recent financial statements included in the Disclosure Package or the Final Prospectus, there has been no
material adverse change in the condition, financial or otherwise, earnings, business, properties or business prospects of the Company and its subsidiaries, taken as a whole, whether or not arising from transactions in the ordinary course of
business, except as set forth in or contemplated in the Disclosure Package or the Final Prospectus. 
 (e) At the Closing
Date, KPMG LLP shall have furnished to the Representatives a letter or letters (which may refer to letters previously delivered to the Representatives), dated the Closing Date. 
 (f) As of the Closing Date, there shall not have occurred since the date hereof any change in the condition, financial or otherwise, or in
the earnings, business, properties, results of operations or business prospects of the Company and its subsidiaries, taken as a whole, from that set forth in the Disclosure Package or the Final Prospectus, as amended or supplemented as of the date
hereof, that, in the judgment of the Representatives, is material and adverse and that makes it, in the judgment of the Representatives, impracticable to market the Securities on the terms and in the manner contemplated by Disclosure Package or the
Final Prospectus, as so amended or supplemented. 
 If (i) any of the conditions specified in this Section 5 shall
not have been fulfilled when and as provided in this Agreement, or (ii) any of the opinions and certificates mentioned above or elsewhere in this Agreement shall not be reasonably satisfactory in form and substance to the Representatives and
their counsel, this Agreement and all obligations of the Underwriters hereunder may be cancelled on, or at any time prior to, the Closing Date by the Representatives. Notice of such cancellation shall be given to the Company in writing or by
telephone or facsimile confirmed in writing. 
 6. Reimbursement of Underwriters’ Expenses. If the sale of the Securities
provided for herein is not consummated because any condition to the obligations of the Underwriters set forth in Section 5 hereof is not satisfied, because of any termination pursuant to Section 10 hereof or because of any refusal,
inability or failure on the part of the Company to perform any agreement herein or comply with any provision hereof other than by reason of a default by any 

 
of the Underwriters, the Company will reimburse the Underwriters severally upon demand for all out-of-pocket expenses (including, without limitation,
reasonable fees and disbursements of counsel and those described in Section 4(j) hereof) that shall have been incurred by them in connection with the proposed purchase and sale of the Securities. 
 7. Indemnification and Contribution. 
 (a) The Company agrees to indemnify and hold harmless each Underwriter and each person who controls any Underwriter within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act
against any and all losses, claims, damages or liabilities, joint or several, arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement for the registration of the
Securities as originally filed or in any amendment thereof, or in the Basic Prospectus, any Preliminary Final Prospectus, the Final Prospectus, any Issuer Free Writing Prospectus or in any amendment thereof or supplement thereto, or arise out of or
are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and agrees to reimburse each such indemnified party to the extent set forth
below, as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in
any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with
written information furnished to the Company by or on behalf of any Underwriter through the Representatives specifically for use therein (it being understood and agreed that the only such information furnished by any Underwriter consists of such
information described as such in the Blood Letter). This indemnity agreement will be in addition to any liability which the Company may otherwise have. 
 (b) Each Underwriter, severally and not jointly, agrees to indemnify and hold harmless the Company, each of its directors, each of its officers who signs the Registration Statement, and each person who controls the
Company within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act, to the same extent as the foregoing indemnity from the Company to each Underwriter, but only with reference to written information relating to
such Underwriter furnished to the Company by or on behalf of such Underwriter through the Representatives for use in the preparation of the documents referred to in the foregoing indemnity (it being understood and agreed that the only such
information furnished by any Underwriter consists of such information described as such in the Blood Letter). This indemnity agreement will be in addition to any liability which any Underwriter may otherwise have. 
 (c) Promptly after receipt by an indemnified party under this Section 7 of notice of the commencement of any action (including any
governmental investigation), such indemnified party will, if a claim in respect thereof is to be 

 
made against the indemnifying party under this Section 7, notify the indemnifying party in writing of the commencement thereof; but the omission so to
notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party otherwise than under this Section 7. In case any such action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and to the extent that it shall wish, jointly, with any other indemnifying party similarly notified, to assume the defense thereof, with
counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party). In any such proceeding, any indemnified party shall have the right to obtain its own
counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named
parties to any such proceeding (including any impleaded parties) include both the indemnified party and the indemnifying party and representation of both parties by the same counsel would be inappropriate due to actual or potential conflicts of
interests between them. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and
expenses of more than one separate identified firm (in addition to any identified local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing
by the Representatives in the case of parties to be indemnified pursuant to paragraph (a) of this Section 7 and by the Company in the case of parties to be indemnified pursuant to paragraph (b) of this Section 7. An indemnifying
party shall not be liable for any settlement of any proceeding effected without its prior written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified
party from and against any loss or liability by reason of such settlement or judgment. No indemnifying party shall, without the prior written consent of the indemnified party (which consent shall not be unreasonably withheld or delayed), effect any
settlement of any pending or threatened proceeding in respect of which any indemnified party is a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (i) includes an unconditional release of
such indemnified party from all liability on claims that are the subject matter of such proceeding and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of the indemnified party.

 (d) To the extent the indemnification provided for in Section 7(a) or 7(b) hereof is unavailable to an indemnified
party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or
payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the 

 
Company, on the one hand, and each Underwriter, on the other hand, from the offering of such Securities or (ii) if the allocation provided by clause
(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company, on the one hand, and each Underwriter,
on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company, on the one hand,
and each Underwriter, on the other hand, in connection with the offering of such Securities shall be deemed to be in the same respective proportions as the total net proceeds from the offering of such Securities (before deducting expenses) received
by the Company bear to the total discounts and commissions received by each Underwriter in respect thereof. The relative fault of the Company, on the one hand, and each Underwriter, on the other hand, shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by such Underwriter and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission. Each Underwriter’s obligation to contribute pursuant to this Section 7 shall be several in the proportion that the principal amount of the
Securities the sale of which by such Underwriter gave rise to such losses, claims, damages or liabilities bears to the aggregate principal amount of the Securities the sale of which by all Underwriters gave rise to such losses, claims, damages or
liabilities, and not joint. 
 (e) The Company and the Underwriters agree that it would not be just or equitable if
contribution pursuant to Section 7(d) hereof were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable
considerations referred to in Section 7(d) hereof. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 7(d) hereof shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 7, no Underwriter
shall be required to contribute any amount in excess of the amount by which the total price at which the Securities referred to in Section 7(d) hereof that were offered and sold to the public through such Underwriter exceeds the amount of any
damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 
 8. Default by an
Underwriter. If any one or more Underwriters shall fail to purchase and pay for any of the Securities agreed to be purchased by such Underwriter or Underwriters hereunder, the remaining Underwriters shall be obligated severally to take up and
pay for (in the 

 
respective proportions which the principal amount of Securities set forth opposite their names in Schedule II hereto bear to the aggregate principal amount
of Securities set forth opposite the names of all the remaining Underwriters) the Securities which the defaulting Underwriter or Underwriters agreed but failed to purchase; provided, however, that in the event that the aggregate
principal amount of Securities which the defaulting Underwriter or Underwriters agreed but failed to purchase shall exceed 10% of the aggregate principal amount of Securities set forth in Schedule II hereto, the remaining Underwriters shall have the
right to purchase all, but shall not be under any obligation to purchase any, of such Securities; provided further, that if the remaining Underwriters do not exercise their right to purchase such Securities and arrangements for the purchase
of such Securities satisfactory to the Company and the Representatives are not made within 36 hours after such default, then this Agreement will terminate without liability to any nondefaulting Underwriter or the Company. In the event of a default
by any Underwriter as set forth in this Section 8, the Closing Date shall be postponed for such period, not exceeding seven days, as the Representatives shall determine in order that the required changes in the Registration Statement and the
Final Prospectus or in any other documents or arrangements may be effected. Nothing contained in this Agreement shall relieve any defaulting Underwriter of its liability, if any, to the Company and any nondefaulting Underwriter for damages
occasioned by its default hereunder. 
 9. Underwriter Representations and Agreements. 
 (a) Each Underwriter represents and agrees that (i) it and each of its affiliates has not offered or sold, and will not offer or
sell, any of the Securities to persons in the United Kingdom in circumstances which have resulted in or will result in the Securities being or becoming the subject of an offer of transferable securities to the public as defined in Section 102B
of the Financial Services and Markets Act 2000 (as amended) (the “FSMA”); (ii) it and each of its affiliates has complied, and will comply, with all applicable provisions of the FSMA with respect to anything done by it in
relation to the Securities in, from or otherwise involving the United Kingdom; and (iii) it and each of its affiliates has only communicated, or caused to be communicated, and will only communicate, or cause to be communicated, any invitation
or inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) received by it in connection with the issue or sale of any Securities in circumstances in which Section 21(1) of the FSMA does not apply to the
Company. 
 (b) In relation to each Member State of the European Economic Area which has implemented the Prospectus Directive
(each, a “Relevant Member State”), each Underwriter represents and agrees that it has not made and will not make an offer of the Securities to the public in that Relevant Member State prior to the publication of a prospectus in relation to
the Securities which has been approved by the competent authority in that Relevant Member State or, where appropriate, approved in another Relevant Member State and notified to the competent authority in that Relevant Member State, all in accordance
with the Prospective Directive, except that it may make an offer of the Securities to the public in that Relevant Member State at any time: (i) to legal entities which are authorised or regulated to operate in the financial markets or, if not
so authorised 

 
or regulated, whose corporate purpose is solely to invest in securities; (ii) to any legal entity which meets two or more of the following criteria:
(A) an average of at least 250 employees during the last financial year; (B) a total balance sheet of more than €43,000,000; and (C) an annual net turnover of more than €50,000,000, in each case as determined in accordance
with the Prospectus Directive and as shown in its last annual or consolidated accounts; or (iii) in any other circumstances which do not require the publication of a prospectus pursuant to Article 3 of the Prospectus Directive. 
 For the purposes of this provision, the expression an “offer of the Securities to the public” in relation to any Securities in any Relevant
Member State means the communication in any form and by any means, presenting sufficient information on the terms of the offer and the Securities to be offered, so as to enable an investor to decide to purchase or subscribe to the Securities, as the
same may be varied in that Relevant Member State by any measure implementing the Prospectus Directive in that Member State and the expression “Prospectus Directive” means Directive 2003/71/EC and includes any relevant implementing measure
in the applicable Relevant Member State. 
 (c) Each Underwriter represents and agrees that it has not offered or sold the
Securities by means of any document other than (i) in circumstances which do not constitute an offer to the public within the meaning of the Companies Ordinance (Cap. 32, Laws of Hong Kong), or (ii) to “professional investors”
within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and any rules made thereunder, or (iii) in other circumstances which do not result in the document being a “prospectus” within the meaning of the
Companies Ordinance (Cap. 32, Laws of Hong Kong), and has not issued, or possessed for the purpose of issuing, any advertisement, invitation or document relating to the Securities (in each case whether in Hong Kong or elsewhere), which is directed
at, or the contents of which are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under the laws of Hong Kong) other than with respect to the Securities which are or are intended to be disposed of only to
persons outside Hong Kong or only to “professional investors” within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and any rules made thereunder. 
 (d) Each Underwriter represents and agrees that it has not offered or sold any Securities, directly or indirectly, in Japan or to, or for
the benefit of, any resident of Japan (which term as used herein means any person resident in Japan, including any corporation or other entity organized under the laws of Japan), or to others for re-offering or resale, directly or indirectly, in
Japan or to a resident of Japan, except to “qualified institutional investors” (TEKIKAKU-KIKAN-TOSHIKA) as defined under Article 2, Paragraph 3, Item 1 of the Financial Instruments and Exchange Law of Japan and pursuant to an
exemption from the registration requirements of, and otherwise in compliance with, Article 2, Paragraph 3, Item 2, Sub-Item A of the Financial Instruments and Exchange Law of Japan. When such Underwriter sells the Securities to a qualified
institutional 

 
investor, it will provide written notice to such qualified institutional investor prior to or simultaneous with such transfer that the Securities may be sold
or otherwise disposed of only to another qualified institutional investor. 
 (e) Each Underwriter represents and agrees that
it has not circulated or distributed the Final Prospectus, the Basic Prospectus, any Free Writing Prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the Securities, and
it has not offered or sold the Securities, or made the Securities the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under
Section 274 of the Securities and Futures Act, Chapter 289 of Singapore (the “SFA”), (ii) to a relevant person, or any person pursuant to Section 275(1A), and in accordance with the conditions, specified in Section 275
of the SFA or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA. Where the Securities are subscribed or purchased under Section 275 by a relevant person which is: (a) a
corporation (which is not an accredited investor) the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor; or (b) a trust (where the
trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary is an accredited investor, shares, debentures and units of shares and debentures of that corporation or the beneficiaries’ rights and interest
in that trust shall not be transferable for 6 months after that corporation or that trust has acquired the Securities under Section 275 except: (x) to an institutional investor under Section 274 of the SFA or to a relevant person, or
any person pursuant to Section 275(1A), and in accordance with the conditions, specified in Section 275 of the SFA; (y) where no consideration is given for the transfer; or (z) by operation of law. 
 (f) In the event that the offer or sale of the Securities by an Underwriter in a jurisdiction requires any action on the part of the
Company in or with respect to such jurisdiction, such Underwriter represents and agrees that it will (i) inform the Company that the Company is required to take such action prior to the time such action is required to be taken, and
(ii) cooperate with and assist the Company in complying with such requirements. Each Underwriter severally agrees that it will, to the best of its knowledge and belief, comply with all applicable securities laws and regulations in force in any
jurisdiction in which it purchases, offers, sells or delivers the Securities or possesses or distributes any Preliminary Final Prospectus, the Final Prospectus, any Free Writing Prospectus or any other offering material relating to the Securities,
and will obtain any required consent, approval or permission for its purchase, offer, sale or delivery of the Securities under the laws and regulations in force in any jurisdiction to which it is subject or in which it makes any such purchases,
offers, sales or deliveries. 
 (g) Each Underwriter severally agrees that it will timely file with the Corporate Financing
Department of the Financial Industry Regulatory Authority (the “Association”) any documents required to be filed under Rules 2710 and 2720 of the Association’s Conduct Rules relating to the offering of the Securities. 

 10. Termination. This Agreement shall be subject to termination in the absolute discretion of the
Representatives, by notice given to the Company prior to delivery of and payment for the Securities, if prior to such time there shall have occurred any (i) suspension or material limitation of trading generally on the New York Stock Exchange
or a material disruption in settlement services in the United States, (ii) suspension of trading of any securities of the Company on any exchange or in any over-the-counter market, (iii) declaration of a general moratorium on commercial
banking activities in California or New York by either Federal or state authorities, (iv) lowering of the rating assigned to any debt securities of the Company by any nationally-recognized securities rating agency or public announcement by any
such rating agency that it has under surveillance or review, with possible negative consequences, its rating of any debt securities of the Company or (v) outbreak or escalation of hostilities in which the United States is involved, declaration
of war by Congress or change in financial markets or calamity or crisis including, without limitation, an act of terrorism, that, in the judgment of the Representatives, is material and adverse and, in the case of any of the events described in
clauses (i) through (v), such event, either alone or together with any other such event, makes it, in the judgment of the Representatives, impracticable to proceed with completion of the public offering of, or sale of and payment for, the
Securities. 
 11. Representations and Indemnities to Survive. The respective agreements, representations, warranties, indemnities and
other statements of the Company or its officers and of the Underwriters set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of any Underwriter or the Company or
any of the officers, directors or controlling persons referred to in Section 7 hereof, and will survive delivery of and payment for the Securities. The provisions of Sections 6 and 7 hereof shall survive the termination or cancellation of this
Agreement. 
 12. Notices. Unless otherwise provided herein, all notices required under the terms and provisions hereof shall be in
writing, either delivered by hand, by mail or by facsimile, telex, telecopier, or telegram and confirmed to the recipient, and any such notice shall be effective when received if sent to the Representatives, at the addresses specified in Schedule I
hereto, or if sent to the Company, at 444 Market Street, MAC: 0195-171, San Francisco, California, 94111. 
 13. Successors. This
Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and the officers and directors and controlling persons referred to in Section 7 hereof, and no other person will have any right or
obligation hereunder. 
 14. No Fiduciary Duty. The Company hereby acknowledges that (a) the purchase and sale of the Securities
pursuant to this Agreement is an arm’s-length commercial transaction between the Company, on the one hand, and the Underwriters and any affiliate through which it may be acting, on the other, (b) the Underwriters are acting as principal
and not as an agent or fiduciary of the Company and (c) the Company’s engagement of the Underwriters in connection with the offering and the process leading up to the offering is as independent contractors and not in any other capacity.
Furthermore, the Company agrees that it is solely responsible for making 

 
its own judgments in connection with the offering (irrespective of whether any of the Underwriters has advised or is currently advising the Company on
related or other matters). The Company agrees that it will not claim that the Underwriters have rendered advisory services of any nature or respect, or owe an agency or fiduciary duty to the Company, in connection with the purchase and sale of the
Securities pursuant to this Agreement or the process leading to such purchase and sale. 
 15. Integration. This Agreement supersedes
all prior agreements and understandings (whether written or oral) between the Company and the Underwriters, or any of them, with respect to the subject matter hereof. 
 16. Applicable Law. This Agreement will be governed by and construed in accordance with the laws of the State of New York. 
 17. Business Day. As used herein, the term “business day” shall mean any day when the Commission’s office in Washington, D.C. is normally open for business. 
 If the foregoing is in accordance with your understanding of our agreement, please sign and return to us the enclosed duplicate hereof, whereupon this
letter and your acceptance shall represent a binding agreement among the Company and the several Underwriters. 
  

			
	Very truly yours,
	
	WELLS FARGO & COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	

 The foregoing Agreement is hereby 
 confirmed and accepted as of the 
 date specified in Schedule I hereto. 
 [            ] 
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 [            ] 
 Acting on behalf of themselves and as the

 Representatives of the several Underwriters. 
 [            ] 
  

			
	By:	 	  

	Name:	 	
	Title:	 	

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	By:	 	  

	Name:	 	
	Title:	 	

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	By:	 	  

	Name:	 	
	Title:

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