Document:

Form of Medium-Term Notes

 Exhibit 4.1 
 [Face of Note] 
 Unless this certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation (“DTC”), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede &
Co. or in such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
  

			
	CUSIP NO. 94986RLS8	  	FACE AMOUNT: $                    
	REGISTERED NO.         	  	

 WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES K 
 Due Nine Months or More From Date of Issue 
 Market Linked Notes due
September 27, 2021 
 Linked to an Equity Index Basket 

WELLS FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, an amount equal to the Redemption
Amount (as defined below), in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, on the Stated Maturity Date. The “Initial Stated Maturity Date”
shall be September 27, 2021. If no Market Disruption Event (as defined below) occurs or is continuing with respect to a Basket Component (as defined below) on the scheduled Calculation Day (as defined below), the Initial Stated Maturity Date
will be the “Stated Maturity Date.” If a Market Disruption Event occurs or is continuing with respect to a Basket Component on the scheduled Calculation Day, the “Stated Maturity Date” shall be the later of
(i) three Business Days (as defined below) after the postponed Calculation Day with respect to such Basket Component (or, if the Calculation Day is postponed with respect to more than one Basket Component, three Business Days after the latest
postponed Calculation Day) and (ii) the Initial Stated Maturity Date. This Security shall not bear any interest. 
 Any
payments on this Security at Maturity will be made against presentation of this Security at the office or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota and at any other office or agency maintained by the
Company for such purpose. 
 “Face Amount” shall mean, when used with respect to this Security, the amount set
forth on the face of this Security as its “Face Amount.” 

 Determination of Redemption Amount 

The “Redemption Amount” of this Security will equal: 

 

	 	•	 	 if the Ending Level is greater than the Starting Level: the Face Amount plus: 

 
 

 
  

	 	•	 	 if the Ending Level is less than or equal to the Starting Level: the Face Amount. 

“Basket” shall mean a basket comprised of the following Basket Components, with the return of each Basket Component
having the weighting noted parenthetically: S&P 500 Index (55%); Russell 2000 Index (15%); and MSCI EAFE Index (30%). 

“Basket Component” shall mean each of the S&P 500 Index, Russell 2000 Index and MSCI EAFE Index. 

The “Pricing Date” shall mean September 19, 2012. 

The “Initial Determination Day” is, with respect to a Basket Component, September 20, 2012, which is the first
succeeding Trading Day with respect to such Basket Component following the Pricing Date on which a Market Disruption Event is not occurring or continuing. 
 The “Starting Level” is 100. 
 The “Ending
Level” will be calculated based on the weighted returns of the Basket Components and will be equal to the product of (i) 100 and (ii) an amount equal to 1 plus the sum of: (A) 55% of the Basket Component Return of the S&P
500 Index; (B) 15% of the Basket Component Return of the Russell 2000 Index; and (C) 30% of the Basket Component Return of the MSCI EAFE Index. 
 The “Basket Component Return,” with respect to a Basket Component, shall be calculated as follows: 
 Final Component Level – Initial Component Level 
 Initial Component
Level 
 The “Initial Component Levels” of the Basket Components are the Closing Levels of the Basket
Components on the Initial Determination Date and are as follows: S&P 500 Index (1460.26); Russell 2000 Index (851.51); and MSCI EAFE Index (1545.77). 
 The “Final Component Level” of a Basket Component will be the Closing Level of such Basket Component on the Calculation Day. 

  
 2 

 The “Closing Level” of a Basket Component on any Trading Day means the
official closing level of such Basket Component as reported by the Index Sponsor of such Basket Component on such Trading Day. 

The “Participation Rate” is 96.65%. 
 “Index Sponsor” shall mean the sponsor of a Basket Component. 

“Business Day” shall mean a day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which
banking institutions are authorized or required by law or regulation to close in New York, New York. 
 A “Trading
Day” with respect to a Basket Component means a day, as determined by the Calculation Agent, on which (i) the Relevant Exchanges with respect to each security underlying such Basket Component are scheduled to be open for trading for
their respective regular trading sessions and (ii) each Related Exchange with respect to such Basket Component is scheduled to be open for trading for its regular trading session. 

The “Related Exchange” for a Basket Component means each exchange or quotation system where trading has a material
effect (as determined by the Calculation Agent) on the overall market for futures or options contracts relating to such Basket Component. 
 The “Relevant Exchange“ for any security then underlying a Basket Component means the primary exchange or quotation system on which such security is traded, as determined by the
Calculation Agent. 
 The “Calculation Day” shall be September 20, 2021. If the scheduled Calculation Day
is not a Trading Day with respect to a Basket Component, the Calculation Day for such Basket Component will be postponed to the next succeeding day that is a Trading Day with respect to such Basket Component. The Calculation Day is also subject to
postponement due to the occurrence of a Market Disruption Event. If a Market Disruption Event occurs or is continuing with respect to a Basket Component on the Calculation Day, then the Calculation Day for such Basket Component will be postponed to
the first succeeding Trading Day for such Basket Component on which a Market Disruption Event for such Basket Component has not occurred and is not continuing; however, if such first succeeding Trading Day has not occurred as of the eighth Trading
Day for such Basket Component after the originally scheduled Calculation Day, that eighth Trading Day shall be deemed to be the Calculation Day for such Basket Component. If the Calculation Day for such Basket Component has been postponed eight
Trading Days for such Basket Component after the originally scheduled Calculation Day for such Basket Component, and a Market Disruption Event occurs or is continuing with respect to such Basket Component on such eighth Trading Day, the Calculation
Agent will determine the Closing Level of such Basket Component on such eighth Trading Day in accordance with the formula for and method of calculating the Closing Level of such Basket Component last in effect prior to commencement of the Market
Disruption Event, using the closing price (or, with respect to any of the relevant securities, if a Market Disruption Event has occurred, its good faith estimate of the value of such securities at the Scheduled Closing Time (as defined below) on the
Relevant Exchanges) on such date of each security included in such Basket Component. See “—Market 

  
 3 

 
Disruption Events.” As used herein, “closing price” means, with respect to any security on any date, the relevant exchange traded or quoted price of such security as of the
Close of Trading (as defined below) on such date. 
 “Calculation Agent Agreement” shall mean the Calculation
Agent Agreement dated as of May 29, 2012 between the Company and the Calculation Agent, as amended from time to time. 

“Calculation Agent” shall mean the Person that has entered into the Calculation Agent Agreement with the Company
providing for, among other things, the determination of the Ending Level and the Redemption Amount, which term shall, unless the context otherwise requires, include its successors under such Calculation Agent Agreement. The initial Calculation Agent
shall be Wells Fargo Securities, LLC. Pursuant to the Calculation Agent Agreement, the Company may appoint a different Calculation Agent from time to time after the initial issuance of this Security without the consent of the Holder of this Security
and without notifying the Holder of this Security. 
 Discontinuance Of A Basket Component; Alteration Of Method Of Calculation

 If an Index Sponsor discontinues publication of a Basket Component, and such Index Sponsor or another entity publishes
a successor or substitute equity index that the Calculation Agent determines, in its sole discretion, to be comparable to such Basket Component (a “Successor Basket Component“), then, upon the Calculation Agent’s notification
of that determination to the Trustee and the Company, the Calculation Agent will substitute the Successor Basket Component as calculated by the relevant Index Sponsor or any other entity and calculate the Closing Level of such Basket Component as
described above. Upon any selection by the Calculation Agent of a Successor Basket Component, the Company will cause notice to be given to the Holder of this Security. 
 In the event that an Index Sponsor discontinues publication of a Basket Component prior to, and the discontinuance is continuing on, the Calculation Day and the Calculation Agent determines that no
Successor Basket Component is available at such time, the Calculation Agent will calculate a substitute Closing Level for such Basket Component in accordance with the formula for and method of calculating such Basket Component last in effect prior
to the discontinuance, but using only those securities that comprised such Basket Component immediately prior to that discontinuance. If a Successor Basket Component is selected or the Calculation Agent calculates a level as a substitute for such
Basket Component, the Successor Basket Component or level will be used as a substitute for such Basket Component for all purposes, including the purpose of determining whether a Market Disruption Event exists. 

If on the Calculation Day the Index Sponsor of a Basket Component fails to calculate and announce the level of such Basket Component, the
Calculation Agent will calculate a substitute Closing Level of such Basket Component in accordance with the formula for and method of calculating such Basket Component last in effect prior to the failure, but using only those securities that
comprised such Basket Component immediately prior to that failure; provided that, if a Market Disruption Event occurs or is continuing on such day, then the provisions set forth above under the definition of “Calculation Day” shall
apply in lieu of the foregoing. 

  
 4 

 If at any time an Index Sponsor makes a material change in the formula for or the method of
calculating a Basket Component, or in any other way materially modifies a Basket Component (other than a modification prescribed in that formula or method to maintain such Basket Component in the event of changes in constituent stock and
capitalization and other routine events), then, from and after that time, the Calculation Agent will, at the close of business in New York, New York, on each date that the Closing Level of such Basket Component is to be calculated, calculate a
substitute Closing Level of such Basket Component in accordance with the formula for and method of calculating such Basket Component last in effect prior to the change, but using only those securities that comprised such Basket Component immediately
prior to that change. Accordingly, if the method of calculating such Basket Component is modified so that the level of such Basket Component is a fraction or a multiple of what it would have been if it had not been modified, then the Calculation
Agent will adjust such Basket Component in order to arrive at a level of such Basket Component as if it had not been modified. 
 Market
Disruption Events 
 A “Market Disruption Event“ means, with respect to a Basket Component, any of the
following events as determined by the Calculation Agent in its sole discretion: 
  

	 	(A)	The occurrence or existence of a material suspension of or limitation imposed on trading by the Relevant Exchanges or otherwise relating to securities which then
comprise 20% or more of the level of such Basket Component or any Successor Basket Component at any time during the one-hour period that ends at the Close of Trading on that day, whether by reason of movements in price exceeding limits permitted by
those Relevant Exchanges or otherwise. 

  

	 	(B)	The occurrence or existence of a material suspension of or limitation imposed on trading by any Related Exchange or otherwise in futures or options contracts relating
to such Basket Component or any Successor Basket Component on any Related Exchange at any time during the one-hour period that ends at the Close of Trading on that day, whether by reason of movements in price exceeding limits permitted by the
Related Exchange or otherwise. 

  

	 	(C)	The occurrence or existence of any event, other than an early closure, that materially disrupts or impairs the ability of market participants in general to effect
transactions in, or obtain market values for, securities that then comprise 20% or more of the level of such Basket Component or any Successor Basket Component on their Relevant Exchanges at any time during the one-hour period that ends at the Close
of Trading on that day. 

  

	 	(D)	The occurrence or existence of any event, other than an early closure, that materially disrupts or impairs the ability of market participants in general to effect
transactions in, or obtain market values for, futures or options contracts relating to such Basket Component or any Successor Basket Component on any Related Exchange at any time during the one-hour period that ends at the Close of Trading on that
day. 

  
 5 

	 	(E)	The closure on any Exchange Business Day of the Relevant Exchanges on which securities that then comprise 20% or more of the level of such Basket Component or any
Successor Basket Component are traded or any Related Exchange prior to its Scheduled Closing Time unless the earlier closing time is announced by the Relevant Exchange or Related Exchange, as applicable, at least one hour prior to the earlier of
(1) the actual closing time for the regular trading session on such Relevant Exchange or Related Exchange, as applicable, and (2) the submission deadline for orders to be entered into the Relevant Exchange or Related Exchange, as
applicable, system for execution at the Close of Trading on that day. 

  

	 	(F)	The Relevant Exchange for any security underlying such Basket Component or Successor Basket Component or any Related Exchange fails to open for trading during its
regular trading session. 

 For purposes of determining whether a Market Disruption Event has occurred:

  

	 	(1)	the relevant percentage contribution of a security to the level of such Basket Component or any Successor Basket Component will be based on a comparison of (x) the
portion of the level of such Basket Component attributable to that security and (y) the overall level of such Basket Component or Successor Basket Component, in each case immediately before the occurrence of the Market Disruption Event;

  

	 	(2)	the “Close of Trading” means the Scheduled Closing Time of the Relevant Exchanges with respect to the securities underlying such Basket Component or
any Successor Basket Component; 

  

	 	(3)	the “Scheduled Closing Time” of any Relevant Exchange or Related Exchange on any Trading Day for such Basket Component or any Successor Basket
Component means the scheduled weekday closing time of such Relevant Exchange or Related Exchange on such Trading Day, without regard to after hours or any other trading outside the regular trading session hours; and 

 

	 	(4)	an “Exchange Business Day” means any Trading Day for such Basket Component or any Successor Basket Component on which each Relevant Exchange for the
securities underlying such Basket Component or any Successor Basket Component and each Related Exchange are open for trading during their respective regular trading sessions, notwithstanding any such Relevant Exchange or Related Exchange closing
prior to its Scheduled Closing Time. 

 Calculation Agent 

The Calculation Agent will determine the Redemption Amount and the Ending Level. In addition, the Calculation Agent will
(i) determine if adjustments are required to the Closing Level of a Basket Component under the circumstances described in this Security, (ii) if publication of a Basket Component is discontinued, select a Successor Basket Component or, if
no Successor Basket Component is available, determine the Closing Level of such Basket Component under the 

  
 6 

 
circumstances described in this Security, and (iii) determine whether a Market Disruption Event has occurred. 
 The Company covenants that, so long as this Security is Outstanding, there shall at all times be a Calculation Agent (which shall be a broker-dealer, bank or other financial institution) with respect to
this Security. 
 All determinations made by the Calculation Agent with respect to this Security will be at the sole discretion
of the Calculation Agent and, in the absence of manifest error, will be conclusive for all purposes and binding on the Company and the Holder of this Security. All percentages and other amounts resulting from any calculation with respect to this
Security will be rounded at the Calculation Agent’s discretion. 
 Redemption and Repayment 

This Security is not subject to redemption at the option of the Company or repayment at the option of the Holder hereof prior to
September 27, 2021. This Security is not entitled to any sinking fund. 
 Acceleration 

If an Event of Default, as defined in the Indenture, with respect to this Security shall occur and be continuing, the Redemption Amount
(calculated as set forth in the next sentence) of this Security may be declared due and payable in the manner and with the effect provided in the Indenture. The amount payable to the Holder hereof upon any acceleration permitted under the Indenture
will be equal to the Redemption Amount hereof calculated as provided herein; provided, however, that the Redemption Amount will be calculated as though the date of acceleration were the Calculation Day. 

 
  

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by the Trustee referred to on the reverse hereof by manual signature or its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 
 [The remainder of this page has been left intentionally blank]

  
 7 

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

 

					
	WELLS FARGO & COMPANY
		
	By:	 	 
		
		 	 
			
		 	Its:	 	 

 [SEAL] 

					
		
	Attest:	 	 
		
		 	 
			
		 	Its:	 	 

  

			
	 TRUSTEE’S CERTIFICATE OF
 AUTHENTICATION
 This is one of the Securities of the

series designated therein described
 in the
within-mentioned Indenture.

	  
 CITIBANK, N.A.,

   as Trustee

		
	 By:
	 	 
		 	Authorized Signature

  

			
	OR
	
	 WELLS FARGO BANK, N.A.,
   as Authenticating Agent for the Trustee

		
	 By:
	 	 
		 	Authorized Signature

  
 8 

 [Reverse of Note] 
 WELLS FARGO & COMPANY 
 MEDIUM-TERM NOTE, SERIES K

 Due Nine Months or More From Date of Issue 
 Market Linked Notes due September 27, 2021 
 Linked to an Equity
Index Basket 
 This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999, as amended or supplemented from time to time (herein called the “Indenture”), between the Company and
Citibank, N.A., as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is
one of the series of the Securities designated as Medium-Term Notes, Series K, of the Company, which series is limited to an aggregate principal amount or face amount, as applicable, of $25,000,000,000 or the equivalent thereof in one or more
foreign or composite currencies. The amount payable on the Securities of this series may be determined by reference to the performance of one or more equity-, commodity- or currency-based indices, exchange traded funds, securities, commodities,
currencies, statistical measures of economic or financial performance, or a basket comprised of two or more of the foregoing, or any other market measure or may bear interest at a fixed rate or a floating rate. The Securities of this series may
mature at different times, be redeemable at different times or not at all, be repayable at the option of the Holder at different times or not at all and be denominated in different currencies. 

Article Sixteen of the Indenture shall not apply to this Security. 

The Securities are issuable only in registered form without coupons and will be either (a) book-entry securities represented by one
or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated securities issued to and registered in the names of, the beneficial owners or their nominees. 

The Company agrees, to the extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of
interest against a Holder of this Security. 
 Modification and Waivers 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the 

  
 9 

 
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected, acting together as a class. The Indenture also
contains provisions permitting the Holders of a majority in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the Indenture, acting together as a class, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain past defaults under the Indenture and their consequences may be waived under the Indenture by the Holders of a majority in principal amount
of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series. Solely for the purpose of determining whether any consent, waiver, notice or other action or Act to be taken or given by the Holders
of Securities pursuant to the Indenture has been given or taken by the Holders of Outstanding Securities in the requisite aggregate principal amount, the principal amount of this Security will be deemed to be equal to the amount set forth on the
face hereof as the “Face Amount” hereof. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 Defeasance 
 Section 403 and Article Fifteen of the Indenture
and the provisions of clause (ii) of Section 401(1)(B) of the Indenture, relating to defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon
compliance by the Company with certain conditions set forth therein, shall not apply to this Security. The remaining provisions of Section 401 of the Indenture shall apply to this Security. 

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

Registration of Transfer 
 Upon due presentment for registration of transfer of this Security at the office or agency of the Company in the City of Minneapolis, Minnesota, a new Security or Securities of this series, with the same
terms as this Security, in authorized denominations for an equal aggregate Face Amount will be issued to the transferee in exchange herefor, as provided in the Indenture and subject to the limitations provided therein and to the limitations
described below, without charge except for any tax or other governmental charge imposed in connection therewith. 
 This
Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a
clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in
its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form and notifies the Trustee thereof or (z) an Event of Default with respect to the Securities represented hereby has occurred and
is continuing. If this Security is exchangeable 

  
 10 

 
pursuant to the preceding sentence, it shall be exchangeable for definitive Securities in registered form, having the same date of issuance, Stated Maturity Date and other terms and of authorized
denominations aggregating a like amount. 
 This Security may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor of the Depositary or a nominee of such successor. Except as provided above,
owners of beneficial interests in this Global Security will not be entitled to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under the Indenture. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 Obligation of the Company Absolute 
 No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the Redemption
Amount at the times, place and rate, and in the coin or currency, herein prescribed, except as otherwise provided in this Security. 
 No
Personal Recourse 
 No recourse shall be had for the payment of the Redemption Amount, or for any claim based hereon, or
otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation,
whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly
waived and released. 
 Defined Terms 
 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture unless otherwise defined in this Security. 

Governing Law 

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

  
 11 

 ABBREVIATIONS 

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

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

  

							
	UNIF GIFT MIN ACT --	 	  
	  	Custodian	  	  

		 	(Cust)	  		  	(Minor)

  

	
	Under Uniform Gifts to Minors Act
	
	  
	(State)

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

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

 

	
	 Please Insert Social Security or

Other Identifying Number of Assignee

	
	  
	

  
  

 
  
  

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

  
 12 

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

							
	Dated:                            
                                	 		 	
				
		 		 		 	 
		 		 		 	
		 		 		 	 

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

  
 13EX-10.1

 Exhibit 10.1 
 SEVENTH AMENDMENT TO AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 THIS SEVENTH AMENDMENT TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT (this “Amendment”) dated
as of September 21, 2012 is entered into among AGC FUNDING CORPORATION (the “Seller”), AMERICAN GREETINGS CORPORATION, in its capacity as servicer (in such capacity, together with its successors and permitted assigns in such
capacity, the “Servicer”), PNC BANK, NATIONAL ASSOCIATION (in its individual capacity, “PNC”), as purchaser agent for Market Street Funding LLC, as Administrator for each Purchaser Group (in such capacity, the
“Administrator”) and as issuer of Letters of Credit (in such capacity, together with its successors and permitted assigns in such capacity, the “LC Bank”) and MARKET STREET FUNDING LLC (in its individual capacity,
“Market Street”), as a Conduit Purchaser and as a Related Committed Purchaser. 
 RECITALS 

1. The Seller, the Servicer, the Administrator, PNC, Market Street and the LC Bank are parties to the Amended and Restated Receivables
Purchase Agreement dated as of October 24, 2006 (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”); and 
 2. The parties hereto desire to amend the Agreement as set forth herein. 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties agree as follows: 
 1. Certain Defined Terms. Capitalized terms that are used herein without definition
and that are defined in Exhibit I to the Agreement shall have the same meanings herein as therein defined. 
 2.
Amendments to Agreement. The Agreement is hereby amended as follows: 
 (a) The amount specified as
the “Commitment” with respect to Market Street in its capacity as a Related Committed Purchaser and as set forth below its Purchaser Agent’s signature to the Agreement is hereby amended and restated in its entirety as set forth
below its Purchaser Agent’s signature hereto. 
 (b) The amount specified as the
“Commitment” for PNC in its capacity as LC Bank and as set forth below its signature in such capacity to the Agreement is hereby amended and restated in its entirety as set forth below its signature in such capacity hereto.

 (c) Clause (a) of the definition of “Eligible Receivable” set forth in Exhibit
I to the Agreement is replaced in its entirety with the following: 

 (a) the Obligor of which is (i) a United States resident or an Eligible
Foreign Obligor, (ii) not subject to any action of the type described in paragraph (f) of Exhibit V to the Agreement, (iii) not an Excluded Obligor, (iv) not an Affiliate of Greetings and (v) not Schurman Fine Papers
or any Subsidiary thereof; it being understood and agreed that any Pool Receivable (and the origination, sale or servicing thereof) with respect to which Schurman Fine Papers or any Subsidiary thereof is the
Obligor shall be excluded from the calculation of (x) “Days’ Sales Outstanding,” “Delinquency Ratio,” “Dilution Ratio,” “Dilution Reserve,” “Dilution Reserve Percentage,” “Disputed
Default Ratio,” “Everyday Default Ratio,” “Loss Reserve,” “Loss Reserve Percentage,” “Receivables Based Loss Reserve Percentage,” “Sales Based Loss Reserve Percentage,” “Seasonal Default
Ratio,” “Total Reserve,” “Yield Reserve” and “Yield Reserve Percentage,” and (y) any components of the calculations and terms described in clause (x), in each case, for all purposes of this Agreement
and each of the other Transaction Documents on and after the date on which the Servicer first delivers an Information Package hereunder that reflects such exclusion, 

(d) The definition of “Everyday Default Ratio” set forth in Exhibit I to the Agreement is hereby
replaced in its entirety with the following: 
 “Everyday Default Ratio” means the ratio
(expressed as a percentage and rounded to the nearest 1/100 of 1%, with 5/1000th of 1% rounded upward) computed as of the last day of each calendar month by dividing: (a) the aggregate Outstanding Balance of all Pool Receivables identified by
the Seller or the Servicer on the most recent Information Package as Receivables relating to SBT invoices, everyday invoices and manual invoices that became Defaulted Receivables during such month by (b) the aggregate credit sales other than
Seasonal Sales made by the Originators during the month that is six months before such month. 
 (e) Clause
(a) of the definition of “Facility Termination Date” set forth in Exhibit I to the Agreement is hereby amended by deleting the date “September 21, 2012” therein and substituting the date “October 1,
2015” therefor. 
 (f) The definition of “Purchase Limit” set forth in Exhibit I to
the Agreement is hereby amended by deleting the amount “$70,000,000” therein and substituting the amount “$50,000,000” therefor. 
 (g) The definition of “Seasonal Sales” set forth in Exhibit I to the Agreement is hereby replaced in its entirety with the following: 

“Seasonal Sales” means those amounts identified by the Seller or Servicer on the periodic Information
Packages as invoices (other than SBT invoices) related to specific seasonal shipments. 

  
 2 

 (h) Section 2(a) of Exhibit II to the Agreement is hereby
replaced in its entirety with the following: 
 (a) in the case of each Funded Purchase and each issuance of a
Letter of Credit, each of the following conditions shall be satisfied unless waived in writing by the Administrator following the Administrator’s receipt of the applicable completed purchase notice: (i) the Servicer shall have delivered to
the Administrator and each Purchaser Agent on or before such purchase or issuance, as the case may be, in form and substance satisfactory to the Administrator and such Purchaser Agent, a completed pro forma Information Package to reflect the level
of Investment, the LC Amount and related reserves and the calculation of the Purchased Interest after such subsequent purchase or issuance, as the case may be, and a completed purchase notice in the form of Annex B, (ii) if no
Information Package has been delivered to the Administrator and the Purchaser Agents during the preceding 90-days due to the proviso to Section 2(i)(iii) of Exhibit IV, then the Administrator shall have performed an audit
of the Servicer, Greetings and/or the Seller in accordance with the provisions of Section 1(h) and/or 2(f) of Exhibit IV within [60] days of such Funded Purchase or issuance and (iii) the Servicer shall have delivered
to the Administrator and each Purchaser Agent on or before such purchase or issuance, as the case may be, each Information Package that was not previously delivered due to the proviso to Section 2(i)(iii) of Exhibit IV; and

 (i) Section 2(i)(iii) of Exhibit IV to the Agreement is hereby replaced in its entirety
with the following: 
 (iii) as to the Servicer only, as soon as available and in any event not later than two
Business Days prior to the Settlement Date, an Information Package as of the last day of such month or, within 10 Business Days of a request by the Administrator or any Purchaser Agent, an Information Package for such periods as is specified by the
Administrator or such Purchaser Agent (including on a semi-monthly, weekly or daily basis); provided, however, unless otherwise required pursuant to Section 2(a) of Exhibit II to the Agreement in connection with any
Funded Purchase or issuance of any Letters of Credit, the Servicer shall not be obligated to deliver any Information Package in accordance with this Section 2(i)(iii) on any day when the sum of (A) the Aggregate Investment, plus
(B) the LC Amount, equals zero; 
 (j) Clause (d) of the definition of “Termination
Event” set forth in Exhibit V to the Agreement is hereby replaced in its entirety with the following: 
 (d) the Seller or the Servicer shall fail to deliver an Information Package pursuant to the Agreement at any time when (i) the sum of (A) the Aggregate Investment, plus (B) the LC Amount,
exceeds (ii) zero, and such failure shall remain unremedied for two Business Days; 

  
 3 

 3. Representations and Warranties. Each of the Seller and the Servicer hereby
represents and warrants to each Purchaser and the Administrator as follows: 
 (a) Representations and
Warranties. The representations and warranties of such Person contained in Exhibit III of the Agreement are true and correct in all material respects as of the date hereof (except to the extent that such representations and
warranties relate expressly to an earlier date, and in which case such representations and warranties shall be true and correct in all material respects as of such earlier date). 

(b) Enforceability. The execution and delivery by such Person of this Amendment, and the performance of each of its
obligations under this Amendment and the Agreement, as amended hereby, are within each of its organizational powers and have been duly authorized by all necessary organizational action on its part. This Amendment and the Agreement, as amended
hereby, are such Person’s valid and legally binding obligations, enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws from time to time in effect
affecting the enforcement of creditors’ rights generally and by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. 

(c) No Default. Both before and immediately after giving effect to this Amendment and the transactions contemplated
hereby, no Termination Event or Unmatured Termination Event exists or shall exist. 
 4. Effect of Amendment. All
provisions of the Agreement, as expressly amended and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to “this
Agreement”, “hereof”, “herein” or words of similar effect referring to the Agreement shall be deemed to be references to the Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or
impliedly, to waive, amend or supplement any provision of the Agreement other than as set forth herein. 
 5.
Effectiveness. This Amendment shall become effective as of the date hereof upon receipt by PNC of (i) counterparts of this Amendment executed by each of the other parties hereto, (ii) counterparts of that certain Purchaser
Group Fee Letter, dated as of the date hereof (the “Fee Letter”), executed by the Seller, the Servicer, PNC and Market Street, in each case in form and substance satisfactory to the Administrator in its sole discretion and
(iii) the “Amendment Fee” (under and as defined in the Fee letter) in accordance with the terms of the Fee Letter. 
 6. Counterparts. This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an
original and all of which when taken together shall constitute but one and the same instrument. Delivery of an executed counterpart hereof by facsimile or by email of a .pdf copy thereof shall be effective as delivery of an originally executed
counterpart hereof. 

  
 4 

 7. Governing Law. This Amendment shall be governed by, and construed in
accordance with, the internal laws of the State of New York (including for such purpose Sections 5-1401 and 5-1402 of the general obligations law of the State of New York). 
 8. Section Headings. The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Agreement or any
provision hereof or thereof. 
 (continued on following page) 

  
 5 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written
above. 
  

			
	AGC FUNDING CORPORATION, as Seller
		
	By:	 	/s/ Gregory M. Steinberg
	Name:	 	Gregory M. Steinberg
	Title:	 	Vice President and Treasurer
	
	AMERICAN GREETINGS CORPORATION, as Servicer
		
	By:	 	/s/ Gregory M. Steinberg
	Name:	 	Gregory M. Steinberg
	Title:	 	Treasurer

  
 S-1

 
			
	 PNC BANK, NATIONAL ASSOCIATION,
 as Administrator

		
	By:	 	/s/ William P. Falcon
	Name:	 	William P. Falcon
	Title:	 	Vice President
	
	PNC BANK, NATIONAL ASSOCIATION,

as Purchaser Agent for Market Street Funding LLC

		
	By:	 	/s/ William P. Falcon
	Name:	 	William P. Falcon
	Title:	 	Vice President
	
	Commitment: $50,000,000
	
	PNC BANK, NATIONAL ASSOCIATION,
 as LC
Bank

		
	By:	 	/s/ William P. Falcon
	Name:	 	William P. Falcon
	Title:	 	Vice President
	
	 Commitment:$50,000,000

  
 S-2

 
			
	 MARKET STREET FUNDING LLC,
 as a Conduit Purchaser and as a Related Committed Purchaser

		
	 By:
	 	/s/ Doris J. Hearn
	 Name:
	 	Doris J. Hearn
	 Title:
	 	Vice President

  
 S-3

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