Document:

<PAGE>

                                  EXHIBIT 10.7

                CONSULTING  AGREEMENT DATED AUGUST 29, 2003 BY AND BETWEEN COACH
INDUSTRIES GROUP, INC.AND DAVID MAYER.

THIS AGREEMENT,  effective the 29th day of August, 2003 (the "Agreement"), is by
and between David Mayer (the  "Consultant"),  and Coach Industries  Group,  Inc.
(the "Company").

                                   WITNESSETH:

         WHEREAS,  the  Consultant  has been requested by the Company to provide
consulting services for the Company;

         WHEREAS,   Consultant   and  the   Company   desire  to  expand   their
relationship,  and  the  Company  desires  to  enter  into a  formal  consulting
agreement  with the  Consultant  pursuant to which it will engage the Consultant
for  general   consulting   services,   including  advice   regarding   mergers,
acquisitions and related matters.

         NOW,  THEREFORE,  in  consideration  of the mutual  promises  contained
herein, the parties hereto hereby agree as follows:

         1.       TERM.  Consultant hereby agrees to act as Consultant on behalf
                  of the Company for a six (6) month term  commencing  as of the
                  date hereof (the  "Term").  The  Company  recognizes  that the
                  Consultant  has rendered the Services (as defined in Section 2
                  herein)  over  the  past  year  and  the  compensation  herein
                  satisfies any outstanding obligation for such Services.

         2.       SERVICES. The consulting services to be provided by Consultant
                  during  the Term shall be to advise and  consult  the  Company
                  regarding general business matters including,  but not limited
                  to  the   evaluation   and  analysis  of   management   needs,
                  prospective mergers, asset, business or other acquisition, and
                  other    business    combinations    hereinafter    ("Business
                  Combinations")  that the  Company  may ask the  Consultant  to
                  undertake.  Consultant  agrees to devote  such time toward the
                  performance  of its duties  hereunder  as it deems  reasonably
                  necessary.  It is not intended that such services require full
                  time and effort by  Consultant  or any of its  employees.  The

<PAGE>

                  Company  acknowledges  that  Consultant  and/or its affiliates
                  will provide  consulting advice (of all types  contemplated by
                  this  Agreement  and  otherwise)  to others,  as well as Coach
                  Industries  Group,  Inc.  Nothing  herein  contained  shall be
                  construed to limit and restrict  Consultant in conducting such
                  business with respect to others,  or in rendering  such advice
                  to others  except in the  security  information  and  software
                  markets.

         3.       COMPENSATION FOR SERVICES.  For and in  consideration  for the
                  services rendered and to be rendered by Consultant as provided
                  herein and in addition to any other compensation previously or
                  subsequently  agreed to be paid to  Consultant,  Company shall
                  pay to Consultant the following: Twenty five thousand (25,000)
                  shares of common  stock of Coach  Industries  Group,  Inc. THE
                  CONSULTANT  AGREES  THAT  THE  CONSULTANT  SHALL  NOT  SELL OR
                  TRANSFER THE SHARES OF COMMON STOCK OF COACH INDUSTRIES GROUP,
                  INC. RECEIVED  HEREUNDER FOR A PERIOD OF THREE MONTHS FROM THE
                  DATE OF THIS  AGREEMENT.  A "STOP  TRANSFER"  LEGEND  SHALL BE
                  PLACED ON THE CERTIFICATE TO THAT EFFECT. THE COMPANY,  AT ITS
                  DISCRETION,  MAY WAIVE THIS  REQUIREMENT  AND REMOVE THE "STOP
                  TRANSFER"  LEGEND.  The  foregoing  shall  be  referred  to as
                  "Compensation".  The above  compensation  shall be  registered
                  using a Form S-8 or any other means required  registering  the
                  above  compensation.  The  Company  must  file  with  all  the
                  appropriate  regulatory  authorities including but not limited
                  to the SEC within 30 days of the execution of this agreement.

         4.       ENTIRE AGREEMENT; WAIVERS; EXHIBITS. This Agreement supersedes
                  any  and  all  agreements,   arrangements  and  understandings
                  between the parties  hereto,  entered into or reached prior to
                  the date  hereof.  No  amendment,  waiver or  discharge of any
                  provisions  hereof shall be effective unless in writing signed
                  by  the  parties  hereto.  All  Exhibits  attached  hereto  or
                  incorporated   herein  by   reference,   together   with  this
                  Agreement,  shall  be  and  are  one  complete  agreement  and
                  constitute  the entire  agreement  between the  parties.  This
                  Agreement  shall  inure to the  successors  and assigns of the
                  parties hereto.

         5.       NOTICES.  All notices and other communication  hereunder shall
                  be in  writing  and shall be deemed  to have been  given  when
                  delivered  personally,  by overnight mail or couriers or three

<PAGE>

                  days after being sent by registered or certified mail, postage
                  prepaid, return receipt requested, to the address set forth on
                  the first page of this  Agreement or such other address as any
                  party may notify the other pursuant hereto.

         6.       HEADINGS.  The headings in the  Agreement  are for purposes of
                  reference only and shall not be considered in construing  this
                  Agreement.

         7.       CONSENT TO SERVICE OF PROCESS;  JURISDICTION;  VENUE.  Each of
                  the  parties   hereto   hereby   consents   to  the   personal
                  jurisdiction  of the United States  District Court for Florida
                  in any action, suit or proceeding arising under this Agreement
                  and agrees to bring any such action,  suit or proceeding  only
                  in such courts.

         8.       ASSIGNMENTS.  This  Agreement may not be assigned by any party
                  without the express written consent of the other party.

         9.       GOVERNING   LAW.   This   Agreement   shall  be  governed  and
                  interpreted  in  accordance  with  the  laws of the  State  of
                  Florida,  without  regard to the  conflict of laws  principles
                  thereof or the actual domiciles of the parties hereto.

         10.      CONFIDENTIAL  INFORMATION.  During the Term of this  Agreement
                  and at all times  thereafter,  Consultant  agrees that it will
                  keep  confidential  and will not use or divulge to any person,
                  firm or corporation, without Company's specific, prior consent
                  in writing (i) any  confidential  information  concerning  the
                  business  affairs of Company,  or any of its affiliates;  (ii)
                  any trade  secrets of Company,  or any of its  affiliates;  or
                  (iii) any other  specialized  information  or data relating to
                  Company, the Company's Proprietary Rights, or any participants
                  therein,  heretofore of hereafter learned,  acquired or coming
                  to Consultant's knowledge during the Term. Notwithstanding the
                  above,  the Consultant shall have no liability to Company with
                  regard  to  information  which  (i) was  generally  known  and
                  available in the public domain at the time it was disclosed or
                  becomes  generally  known and  available in the public  domain
                  through no fault of  Consultant;  (ii) was known to Consultant
                  at the time of  disclosure as shown by the files of Consultant
                  in  existence  at the time of  disclosure;  (iii) is disclosed
                  with  the  prior  written   approval  of  Company;   (iv)  was
                  independently  developed  by  Consultant  without  any  use of
                  confidential  information  and by employees or other agents of
                  Consultant  who  have not been  exposed  to such  confidential
                  information;  (v) becomes  known to  Consultant  from a source

<PAGE>

                  other than the Company  without  breach of this  Agreement  by
                  Consultant and otherwise not in violation of Company's rights;
                  and  (vi) is  disclosed  pursuant  to the  order  of a  court,
                  administrative  agency or other governmental  body;  provided,
                  that Consultant shall provide prompt,  advanced notice thereof
                  to enable  Company  to seek a  protective  order or  otherwise
                  prevent  such  disclosure,   and  provided  that  Consultant's
                  disclosure is limited to the expressly required by such court,
                  administrative agency or other governmental body.

         11.      INDEPENDENT CONTRACTOR RELATIONSHIP.  The services rendered by
                  Consultant to the Company  pursuant to this Agreement shall be
                  as an independent contractor, and this Agreement does not make
                  Consultant the employee,  agent or legal representative of the
                  Company  for  any  purpose  whatsoever,   including,   without
                  limitation,  participation in any benefits or privileges given
                  or  attended  by the  Company  to its  employees.  No right or
                  authority is granted to  Consultant to assume or to create any
                  obligation or responsibility, express or implied, on behalf or
                  in the name of the Company. The Company shall not withhold for
                  Consultant  any  federal or state taxes from the amounts to be
                  paid to Consultant  hereunder,  and Consultant  agrees that it
                  will pay all taxes due on such amounts.

     IN WITNESS  WHEREOF,  each of the parties has caused this  Agreement  to be
duly executed and  delivered in its name and on its behalf,  all effective as of
the date first written above.

                                                COACH INDUSTRIES GROUP, INC.

-----------------------------------        -----------------------------------
David Mayer

<PAGE>Form of Note

 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. 949746FG1
	 	PRINCIPAL AMOUNT:  $	62,308,000
	 REGISTERED NO. 1
	 	 	 

  
 WELLS FARGO &
COMPANY 
  
 Callable Notes Linked to the S&P 500
Index® due August 25, 2009 
  
 WELLS FARGO & COMPANY, a corporation duly organized and existing under
the laws of the State of Delaware (hereinafter called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered
assigns, an amount equal to the Maturity Payment Amount (as defined below), 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 (as
defined below). 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. 
  
  

 “Standard & Poor’s®,” “S&P®,” “S&P 500®,” “Standard & Poor’s 500®,” and “500®” are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by the Company. This Security, based on the performance of the
S&P 500 Index, is not sponsored, endorsed, sold or promoted by Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“S&P”, which term, as used herein, includes its successors), and S&P makes no
representation regarding the advisability of investing in this Security. 

 Determination of Maturity Payment Amount 
  
 “Maturity Payment Amount” shall mean, for each $1,000 principal
amount of this Security, the sum of (i) $1,000 and (ii) the Additional Amount, if any. 
  
 Set forth below are certain defined terms used in this Security in connection with the determination of the Maturity Payment Amount. 
  
 “Additional Amount” shall mean, for each $1,000 principal amount of this Security, an amount equal to the greater
of (i) zero and (ii) the product of: 
  

	 	·	 	$1,000; and 

	 	·	 	Final Index Level – Initial Index Level 

 Initial Index Level 
  
 “Calculation Agency
Agreement” shall mean the Calculation Agency Agreement dated as of August 29, 2003 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 Agency Agreement with the Company
providing for, among other things, the determination of the Additional Amount, if any, the Final Index Level and the Maturity Payment Amount, which term shall, unless the context otherwise requires, include its successors under such Calculation
Agency Agreement. The initial Calculation Agent shall be Wells Fargo Securities, LLC. Pursuant to the Calculation Agency Agreement, the Company may appoint a different Calculation Agent from time to time after the initial issuance of the Securities
of this series without the consent of the Holders of the Securities of this series and without notifying the Holders of the Securities of this series. 
  
 “Calculation Day” means any Trading Day on which a Market Disruption Event has not occurred. 
  
 “Closing Level” shall mean, on any date, the last reported level of
the S&P 500 Index at 4:00 p.m., New York City time, on such date as reported by S&P; provided, however, that in the event that S&P discontinues publication of the S&P 500 Index, the Closing Level will be determined in the
manner set forth in this Security under “Discontinuance Of The S&P 500 Index; Alteration Of Method Of Calculation.” 
  
 “Calculation Period” shall mean the period of five Calculation Days beginning on and including the sixth Trading Day before August 25, 2009 to
and including the second Trading Day before August 25, 2009; provided, however, that if one or more of such Trading Days is not a Calculation Day, the Calculation Period shall be extended to such date as is necessary so that the Calculation Period
consists of five Calculation Days. 
  
 “Final Index
Level” shall mean the average (i.e., arithmetic mean) of the Closing Levels of the S&P 500 Index determined on each of the five Calculation Days during the Calculation Period. 
  

 2 

 “Initial Index Level” shall mean 993.06. 
  
 A “Market Disruption Event” with respect to the S&P 500 Index
will occur on any day if the Calculation Agent determines any of the following: 
  

	 	·	 	A material suspension or material limitation of trading in 20% or more of the underlying stocks which then comprise the S&P 500 Index or any successor index has occurred on that
day, in each case, during the one hour period preceding the close of trading on the primary organized U.S. exchange or trading system on which those stocks are traded or, if in the case of a common stock not listed or quoted in the United States, on
the primary exchange, trading system or market for that security. Limitations on trading during significant market fluctuations imposed pursuant to New York Stock Exchange Rule 80B or any applicable rule or regulation enacted or promulgated by The
New York Stock Exchange, any other exchange, trading system or market, any other self regulatory organization or the Securities and Exchange Commission of similar scope or as a replacement for Rule 80B, may be considered material. A “trading
system” includes bulletin board services. 

  

	 	·	 	A material suspension or material limitation has occurred on that day, in each case, during the one hour period preceding the close of trading in options or futures contracts
related to the S&P 500 Index or any successor index, whether by reason of movements in price exceeding levels permitted by an exchange, trading system or market on which those options or futures contracts are traded or otherwise.

  

	 	·	 	Information is unavailable on that date, through a recognized system of public dissemination of transaction information, during the one hour period preceding the close of trading,
of accurate price, volume or related information in respect of 20% or more of the underlying stocks which then comprise the S&P 500 Index or any successor index or in respect of options or futures contracts related to the S&P 500 Index or
any successor index, in each case traded on any major U.S. exchange or trading system or, in the case of securities of a non-U.S. issuer, traded on the primary non-U.S. exchange, trading system or market for that security. 

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

	 	·	 	a limitation on the hours or number of days of trading will not constitute a Market Disruption Event if it results from an announced change in the regular business hours of the
relevant exchange, trading system or market; and 

  

	 	·	 	close of trading means 4:00 p.m., New York City time. 

  
 “S&P 500 Index” shall mean the S&P 500 Index as calculated by S&P. 
  
 “Stated Maturity Date” shall mean August 25, 2009; provided, however, that if a Market Disruption Event occurs
during the period beginning on and including the sixth Trading Day 
  

 3 

 
before August 25, 2009 to and including the second Trading Day before August 25, 2009 such that one or more of such Trading Days is not a Calculation Day,
the Stated Maturity Date will be postponed until two Business Days after the final day of the Calculation Period. 
  
 “Trading Day” shall mean each Monday, Tuesday, Wednesday, Thursday and Friday that is a day on which The New York Stock Exchange, The Nasdaq
National Market and the American Stock Exchange are open for trading. 
  
 Discontinuance Of The S&P 500 Index; Alteration Of Method Of Calculation 
  
 If S&P discontinues publication of the S&P 500 Index and S&P or another entity publishes a successor or substitute index that the Calculation
Agent determines, in its sole discretion, to be comparable to the discontinued S&P 500 Index, then any subsequent Closing Level will be determined by reference to the level of such successor or substitute index (in any such case, a
“successor index”) at 4:00 p.m., New York City time, on the date that any such subsequent Closing Level is to be determined. 
  
 Upon any selection by the Calculation Agent of a successor index, the Company will promptly give notice to the Holders of the Securities of this series.

  
 If S&P discontinues publication of the S&P 500 Index
prior to, and such discontinuance is continuing on, the date that any Closing Level is to be determined and the Calculation Agent determines that no successor index is available at such time, then, on such date, the Calculation Agent will determine
each subsequent Closing Level to be used in computing the Additional Amount. Each such Closing Level will be computed by the Calculation Agent in accordance with the formula for and method of calculating the S&P 500 Index last in effect prior to
such discontinuance, using the Closing Price (or, if trading in the relevant security has been materially suspended or materially limited, its good faith estimate of the Closing Price that would have prevailed but for such suspension or limitation)
at the close of the principal trading session on such date of each security most recently comprising the S&P 500 Index on the primary organized U.S. exchange or trading system. “Closing Price” means, with respect to any security on any
date, the last reported sales price regular way on such date or, in case no such reported sale takes place on such date, the average of the reported closing bid and asked prices regular way on such date, in either case on the primary organized U.S.
exchange or trading system on which such security is then listed or admitted to trading. 
  
 If a successor index is selected or the Calculation Agent calculates a Closing Level as a substitute for the S&P 500 Index, such successor index or Closing Level will be used as a substitute for the S&P 500
Index for all purposes, including for purposes of determining whether a Market Disruption Event exists. 
  
 If at any time the method of calculating the S&P 500 Index or a successor index, or the Closing Level thereof, is changed in a material respect, or if
the S&P 500 Index or a successor index is in any other way modified so that such index does not, in the opinion of the Calculation Agent, fairly represent the value of the S&P 500 Index or such successor index had such changes or
modifications not been made, then the Calculation Agent will, at the close of business in New 

  

 4 

 
York City on the date that any Closing Level is to be determined, make such calculations and adjustments as, in the good faith judgment of the Calculation
Agent, may be necessary in order to arrive at a value of a stock index comparable to the S&P 500 Index or such successor index, as the case may be, as if such changes or modifications had not been made, and calculate the Closing Level and the
Additional Amount with reference to the S&P 500 Index or such successor index, as adjusted. Accordingly, if the method of calculating the S&P 500 Index or a successor index is modified so that the level of such index is a fraction of what it
would have been if it had not been modified (for example, due to a split in the index), then the Calculation Agent will adjust such index in order to arrive at a level of the S&P 500 Index or such successor index as if it had not been modified
(for example, as if such split had not occurred). 
  
 Calculation Agent 
  
 The Calculation Agent will
determine the Additional Amount, if any, and the Maturity Payment Amount. In addition, the Calculation Agent will: 
  

	 	·	 	determine if adjustments are required to the Closing Level under the circumstances described in this Security; 

  

	 	·	 	if publication of the S&P 500 Index is discontinued, select a successor index or, if no successor index is available, determine the Final Index Level; and

  

	 	·	 	determine whether a Market Disruption Event has occurred and whether the Stated Maturity Date will be postponed. 

  
 The Company covenants that, so long as any of the Securities of this series
are Outstanding, there shall at all times be a Calculation Agent (which shall be a broker-dealer, bank or other financial institution) with respect to the Securities of this series. 
  
 All determinations made by the Calculation Agent with respect to the Securities of this series 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 Holders of the Securities of this series. All percentages and other amounts resulting from any
calculation with respect to the Securities of this series will be rounded at the Calculation Agent’s discretion. 
  
 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. 
  

 5 

 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 MINNESOTA, N.A.,
as Authenticating Agent for the Trustee

		
	 By:
	 	  

	 	 	 Authorized Signature

  

 6 

 [Reverse of Note] 
  

 
 WELLS FARGO & COMPANY 
  
  
 Callable Notes Linked to the S&P 500 Index® due August 25, 2009

  
  
 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 designated on the face hereof, limited in aggregate principal amount to $69,308,000; provided, however, that the Company may,
so long as no Event of Default has occurred and is continuing, without the consent of the Holders of the Securities of this series, issue additional Securities with the same terms as the Securities of this series, and such additional Securities
shall be considered part of the same series under the Indenture as the Securities of this series. 
  
 The Securities of this series are not subject to repayment at the option of the Holder hereof prior to the Stated Maturity Date. The Securities of this
series will not be entitled to any sinking fund. 
  
 The
Securities of this series are redeemable at the option of the Company at any time on or after August 29, 2005 to and including August 25, 2009, in whole but not in part, at the Redemption Prices set forth in the table below: 
  

	 	  	   Redemption Date  

	  	 	  	    Redemption Price

	 From and including August 29, 2005 to and including August 28, 2006
	  	119.0%        
	 From and including August 29, 2006 to and including August 28, 2007
	  	128.5%        
	 From and including August 29, 2007 to and including August 28, 2008
	  	138.0%        
	 From and including August 29, 2008 to and including August 25, 2009
	  	147.5%        

  
 The final date on which the Securities
of this series may be redeemed will not change due to the occurrence of a Market Disruption Event. 
  
 Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of the Securities of this
series to be redeemed. 
  
 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 Securities of this series. 
  

 7 

 If an Event of Default, as defined in the Indenture, with respect to Securities of this series shall
occur and be continuing, the Maturity Payment Amount (calculated as set forth in the next sentence) of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. The amount payable to
the Holder hereof upon any acceleration permitted under the Indenture will be equal to the Maturity Payment Amount hereof calculated as though the date of acceleration was the Stated Maturity Date. Upon payment of the amount so declared due and
payable, all of the Company’s obligations in respect of payment of the Maturity Payment Amount shall terminate. The Securities of this series will not bear a default rate of interest after the occurrence of an Event of Default or an
acceleration under the Indenture. 
  
 The Company agrees, and by
acceptance of a beneficial ownership interest in this Security each beneficial owner of this Security will be deemed to have agreed, for United States federal income tax purposes (i) to treat this Security as a single debt instrument subject to the
Treasury regulations governing contingent payment debt instruments, (ii) to report all income (or loss) with respect to this Security according to those Treasury regulations, and (iii) to be bound by the Company’s determination of the
“comparable yield” and the “projected payment schedule” (within the meaning of such Treasury regulations) for this Security, unless such beneficial owner timely discloses and justifies in its federal income tax return the use of
a different comparable yield and projected payment schedule. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under
the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected, acting together. 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, 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
“Principal 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. 
  
 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. 
  

 8 

 Upon due presentment for registration of transfer of this Security at the office or agency of the Company
in the City of Minneapolis, Minnesota, a new Security or Securities of this series in authorized denominations for an equal aggregate principal amount will be issued to the transferee in exchange herefor, as provided in the Indenture and subject to
the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental charge imposed in connection therewith. 
  
 This Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the Company
that it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed
within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form and notifies the
Trustee thereof or (z) an Event of Default with respect to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for definitive Securities in
registered form, having the same 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 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. 
  
 No reference herein to the Indenture and no provision of the Indenture shall alter or impair the obligation of the Company, which is absolute and
unconditional, to pay the Maturity Payment Amount at the times and place, and in the coin or currency, herein prescribed, except as otherwise provided in this Security. 
  
 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. 
  
 No recourse shall be had for the payment of
the Maturity Payment Amount, or for any claim based on this Security, 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. 
  
 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. 
  

 9 

 This Security shall be governed by and construed in accordance with the laws of the State of New York.

  

 10 

 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) 
  
  

 11 

 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. 
  

 12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}]]