Document:

Document

Exhibit 10(a)

Form of Performance Share Award Agreement for Grants on or after January 26, 2021

Brackets identify provisions that may vary depending on the particular grant, grant recipient, and/or other relevant factor.

WELLS FARGO & COMPANY 
LONG-TERM INCENTIVE COMPENSATION PLAN
PERFORMANCE SHARE AWARD AGREEMENT

Grant Date: [applicable date]

1.Award.  Wells Fargo & Company (the “Company”) has awarded you Performance Shares to provide an incentive for you to remain in the employment of the Company or an Affiliate and provide valuable services to the Company or an Affiliate.  The target number of Performance Shares (“Target Award Number”) awarded you is identified as the “Total Granted” on the acknowledgement screen for your grant on this website.  The Target Award Number is subject to upward and downward adjustments based on Company performance during the [performance period] (the “Performance Period”) as set forth on Exhibit A.  The “Final Award Number” is the number of Performance Shares awarded to you under this Award Agreement after adjusting the Target Award Number in accordance with Exhibit A.  This Award Agreement also grants Performance Shares with respect to dividend equivalents as provided in paragraph 5.  Each Performance Share entitles you to receive one share of Wells Fargo & Company common stock ("Common Stock") contingent upon earning such Performance Share based on the Company performance criteria set forth on Exhibit A, vesting as set forth in paragraph 2 and subject to the other terms and conditions set forth in the Company’s Long‐Term Incentive Compensation Plan, as may be amended from time to time (the “Plan”) and this Award Agreement, including but not limited to the Clawback Policy (defined below) and other terms of paragraph 3, Exhibits A and B hereto and the attached Wells Fargo Agreement Regarding Trade Secrets, Confidential Information, Non-Solicitation and Assignment of Inventions.
2.Vesting.  Except as otherwise provided in this Award Agreement, the Final Award Number of Performance Shares will vest on the Determination Date as set forth on Exhibit A (“Determination Date”), subject to the Clawback Policy and other terms of paragraph 3.  Shares of Common Stock will be issued to you or, in case of your death, your Beneficiary determined in accordance with the Plan.  You will have no rights as a stockholder of the Company with respect to your Performance Shares (including any Performance Shares with respect to dividend equivalents as provided below) until settlement.  However, you may be entitled to dividend equivalents as set forth in paragraph 5.  Except as otherwise provided in the Plan or this Award Agreement, vested Performance Shares will be settled and distributed in shares of Common Stock on or after the Determination Date and no later than [applicable date] (the “Settlement Date”).  You acknowledge that your transactions in any shares of Common Stock you may acquire pursuant to this Award are subject to your compliance with the Company’s Personal Trading Policy, including with respect to certain blackout trading restrictions and preclearance requirements, to the extent applicable to you.
3.Clawback Policy.  The Award is fully conditioned on and subject to the Performance Conditions (as defined in the Clawback Policy) to vesting and the other clawback, forfeiture and cancellation provisions described in the Wells Fargo & Company Clawback and Forfeiture Policy attached hereto as Exhibit C, as it may be amended from time to time (the “Clawback Policy”).  The Award is also subject to any other applicable reduction, recoupment, “malus” or “clawback” policies, practices or provisions of the Company and its Affiliates, as in effect from time to time, and any applicable reduction, recoupment, malus or clawback requirements imposed under laws, rules and regulations.
4.Termination. 
(a)If prior to [end of Performance Period] you (i) cease to be an Employee due to your death or (ii) die after the occurrence of an event described in paragraph 4(b), 4(c), or 4(d), and in the case of paragraph 4(d), you have satisfied the vesting conditions therein through your date of death, then the Target Award Number of Performance Shares under this Award Agreement after giving effect to any Net Operating Loss adjustments determined in accordance with Exhibit A for any years in the Performance Period completed prior to the year in which you die (and any Performance Shares with respect to dividend equivalents as provided below) will immediately vest upon the date of your death and will be distributed to your Beneficiary in shares of Common Stock between the date of your death and December 31 of the year following the year in which you die, notwithstanding the settlement provisions of paragraphs 4(b), 4(c) or 4(d), if applicable. 
1

If you cease to be an Employee due to your death on or after [end of Performance Period] and prior to the Determination Date, the Final Award Number of Performance Shares under this Award Agreement (and any Performance Shares with respect to dividend equivalents as provided below) will vest upon the Determination Date and will be distributed to your Beneficiary on the Settlement Date.  Notwithstanding the foregoing, if by the applicable last payment date set forth herein your Beneficiary has not presented evidence deemed satisfactory by the Company to allow transfer of the shares of Common Stock to the Beneficiary under applicable laws, the Company may treat all Performance Shares awarded hereby as forfeited, in which case the Company shall have no obligation to issue shares of Common Stock or benefits in lieu of such shares to your Beneficiary and shall have no liability therefor.
(b)If prior to the Determination Date you have an involuntary Separation from Service due to (i) application of the Company’s Extended Absence Policy to you in connection with a Disability, (ii) your displacement and receipt of an immediate lump sum severance benefit, placement on a Salary Continuation Leave of Absence or placement on another leave of absence which will result in your receipt of a severance benefit in connection with that leave, or (iii) the Company or an Affiliate entering into a corporate transaction with another company (the “buyer”) (including a transaction where the buyer acquires all or any portion of the assets, stock or operations of the Company or Affiliate) and pursuant to the terms of the transaction you are continuing in employment with the buyer after completion of the transaction, then the Final Award Number of Performance Shares under this Award Agreement (and any Performance Shares with respect to dividend equivalents as provided below) will vest upon the Determination Date and will be distributed to you  in shares of Common Stock on the Settlement Date, subject to the Clawback Policy and the other terms of paragraph 3 above, the restrictions in paragraph 8 and the stock ownership requirements in paragraph 9 below.  For purposes of this Award, the term “Separation from Service” is determined by the Company in accordance with Section 409A (as defined in paragraph 12 below) and in accordance with the definition set forth on Exhibit B to this Award Agreement, which definition is incorporated by reference herein.  For purposes of this Award, the term “Disability” is defined as set forth on Exhibit B to this Award Agreement, which definition is incorporated by reference herein.
(c)If prior to the Determination Date, the Affiliate that employs you incurs a Change in Control and you continue employment with the buyer immediately after the Change in Control, then the Final Award Number of Performance Shares under this Award Agreement (and any Performance Shares with respect to dividend equivalents as provided below) will continue to vest upon the Determination Date and will be distributed to you in shares of Common Stock on the Settlement Date, subject to the Clawback Policy and the other terms of paragraph 3 above, the restrictions in paragraph 8 and the stock ownership requirements in paragraph 9 below.  For purposes of this Award, the term “Change in Control” is defined as set forth on Exhibit B to this Award Agreement, which definition is incorporated by reference herein.
(d)If prior to the Determination Date you have a Separation from Service for a reason other than Cause and you have satisfied the definition of Retirement [under the Plan] [(as defined below)] on your Separation from Service date or you satisfy the definition of Retirement following your Separation from Service date at the end of an approved leave of absence not to exceed six months, the Final Award Number of Performance Shares under this Award Agreement (and any Performance Shares with respect to dividend equivalents as provided below) will continue to vest upon the Determination Date and will be distributed to you  in shares of Common Stock on the Settlement Date subject to the Clawback Policy and the other terms of paragraph 3 above, the restrictions in paragraph 8 and the stock ownership requirements in paragraph 9 below, and provided that beginning immediately after you cease to be an Employee and continuing until the Determination Date you satisfy each of the following conditions (“vesting conditions”): (i) you comply with the terms of the attached Wells Fargo Agreement Regarding Trade Secrets, Confidential Information, Non-Solicitation and Assignment of Inventions, which agreement is incorporated by reference herein, (ii) you do not express any derogatory or damaging statements about the Company or any Affiliate, the management or the board of directors of the Company or any Affiliate, the products, services or the business condition of the Company or any Affiliate in any public way or to anyone who could make those statements public, and (iii) to the fullest extent enforceable under the applicable state law, you do not perform services as an officer, director, employee, consultant or otherwise for any business which is in competition with any line of business of the Company or any Affiliate for which you had executive responsibilities while you were employed by the Company or any Affiliate (including predecessors thereof) and which does business in any location in the geographic footprint of the Company or any Affiliate in which you had executive responsibilities.  For purposes of this Award, the term “Cause” is defined as set forth on Exhibit B to this Award Agreement, which definition is incorporated by reference herein. [For purposes of this Award, the term “Retirement” is defined as termination of employment after reaching (i) age 55 with five completed years of service or (ii) such more favorable treatment as may apply based on the practices of the Company in effect from time to time.]
Notwithstanding the foregoing, nothing contained in this Award Agreement prohibits or restricts you (or your attorney) from initiating communications directly with, or responding to any inquiry from, or providing testimony before, the Securities and Exchange Commission, the Financial Industry 
2

Regulatory Authority, the National Labor Relations Board, the Equal Employment Opportunity Commission, or any self-regulatory organization or governmental authority charged with the enforcement of any laws.
(e)If prior to the Determination Date you incur a Separation from Service other than for a reason described in paragraph 4(a), 4(b), 4(c) or 4(d), any then unvested Performance Shares awarded hereby (including any Performance Shares with respect to dividend equivalents as provided below) will immediately terminate without notice to you and will be forfeited.  For avoidance of doubt, a “Separation from Service other than as described in paragraph 4(a), 4(b), 4(c) or 4(d)” includes, without limitation, a voluntary Separation from Service that does not constitute a Retirement and an involuntary Separation from Service for Cause.   
5.Dividend Equivalents.  During the period beginning on the Grant Date and ending on the Settlement Date for the Performance Shares or the date the Performance Shares are forfeited, whichever occurs first, if the Company pays a dividend on the Common Stock, you will automatically receive, as of the payment date for such dividend, dividend equivalents in the form of additional Performance Shares based on the amount or number of shares that would have been paid on the Final Award Number of Performance Shares (or the NOL Adjusted Target Award Number of Performance Shares as applicable under paragraphs 4(a), 4(b), 4(c) and 4(d)) had they been issued and outstanding shares of Common Stock as of the record date and, if a cash dividend, the closing price of the Common Stock on the New York Stock Exchange as of the dividend payment date.  You will also automatically receive dividend equivalents with respect to such additional Performance Shares, to be determined in the same manner.  Performance Shares granted with respect to dividend equivalents will be subject to the same vesting schedule and other terms and conditions as the underlying Performance Shares, including the Company’s right of recoupment or forfeiture, and will be distributed in shares of Common Stock when, and if, the underlying Performance Shares are settled and distributed.
6.Tax Withholding.  The Company will withhold from the number of shares of Common Stock otherwise issuable hereunder (including with respect to dividend equivalents) a number of shares necessary to satisfy any and all applicable federal, state, local and foreign tax withholding obligations and employment-related tax requirements (“Tax-Related Items”).  In addition, the Company (or your employer, if different) will withhold from your compensation any and all applicable Tax-Related Items in the event all or a portion of the Performance Shares are treated as taxable prior to or other than on the vesting date set forth in paragraph 2 above and the number of shares of Common Stock otherwise issuable (if any) is insufficient to satisfy such Tax-Related Items withholding obligations.  Finally, you shall pay to the Company (or your employer, if different) any amount of Tax-Related Items that the Company or your employer may be required to withhold or account for as a result of your participation in the Plan that cannot be satisfied by the means previously described.  The Company may refuse to issue or deliver the shares of Common Stock if you fail to comply with your obligations in connection with the Tax-Related Items.  
7.Nontransferable.  Unless the Committee provides otherwise, (i) no rights under this Award will be assignable or transferable, and neither you nor your Beneficiary will have any power to anticipate, alienate, dispose of, pledge or encumber any rights under this Award, and (ii) the rights and the benefits of this Award may be exercised and received during your lifetime only by you or your legal representative.
8.Other Restrictions; Amendment.  The grant of the Award and issuance of Common Stock hereunder is subject to compliance by the Company, its Affiliates and you with all legal and regulatory requirements applicable thereto, including compliance with the requirements of 12 C.F.R. Part 359, orders issued under 12 U.S.C. § 1818(b) (together with any agreements related thereto, “orders”) and tax withholding obligations, and with all applicable regulations of any stock exchange on which the Common Stock may be listed at the time of issuance.  For the avoidance of doubt, regulatory approval under Part 359 or any orders to which the Company is a party may be required for the issuance of Common Stock hereunder in certain circumstances, and the Company cannot provide any assurance that it will be able to request such approval in accordance with the requirements of Part 359 or any applicable order or that any requested approval will be received.  Subject to paragraphs 12 and 13 below, the Committee or its delegate may, in its sole discretion and without your consent, reduce, delay vesting, modify, revoke, cancel, impose additional conditions and restrictions on or recover all or a portion of this Award if the Committee or its delegate deems it necessary or advisable to comply with, or to promote or facilitate compliance with, applicable laws, rules and regulations or as required under any procedures or policies implemented by the Company in furtherance of such legal or regulatory compliance.  
9.Stock Ownership Policy.  If you are an Executive Officer of the Company or a member of its Operating Committee, as a condition to receiving this Award, you agree that you are subject to the Company’s stock ownership policy, as may be amended from time to time, and that as a result, you may be required to hold, including after your Retirement, all or a portion of any shares of Common Stock issued to you pursuant to this Award in order to achieve compliance with such stock ownership policy. 

3

10.Additional Provisions.  This Award Agreement is subject to the provisions of the Plan.  Capitalized terms not defined in this Award Agreement or by reference to another document are used as defined in the Plan.  If the Plan and this Award Agreement conflict, the provisions of the Plan will govern.  Interpretations of the Plan and this Award Agreement by the Committee are binding on you and the Company.
11.No Employment Agreement.  Neither the award to you of the Performance Shares nor the delivery to you of this Award Agreement or any other document relating to the Performance Shares will confer on you the right to continued employment with the Company or any Affiliate.  You understand that your employment with the Company or any Affiliate is “at will” and nothing in this document changes, alters or modifies your “at will” status or your obligation to comply with all policies, procedures and rules of the Company, as they may be adopted or amended from time to time.  
12.Section 409A.  This Award is intended to be exempt from or comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the applicable Treasury regulations or other binding guidance thereunder (“Section 409A”).  Accordingly, all provisions included in this Award Agreement, or incorporated by reference, will be interpreted and administered in accordance with that intent.  If any provision of the Plan or this Award Agreement would otherwise conflict with or frustrate this intent, that provision will be interpreted and deemed amended or limited so as to avoid the conflict; provided, however, that the Company makes no representation that the Award is exempt from or complies with Section 409A and makes no undertaking to preclude Section 409A from applying to the Award. The Company will have no liability to you or to any other party if the Award or payment of the Award that is intended to be exempt from or compliant with Section 409A is not so exempt or compliant or for any action taken by the Committee with respect thereto.
13.Six-month Delay.  Notwithstanding any provision of the Plan or this Award Agreement to the contrary, if, upon your Separation from Service for any reason, the Company determines that you are a “Specified Employee” for purposes of Section 409A and in accordance with the definition set forth on Exhibit B to this Award Agreement, which definition is incorporated by reference herein, your Performance Shares, if subject to settlement upon your Separation from Service and if required pursuant to Section 409A, will not settle before the date that is the first business day following the six-month anniversary of such Separation from Service, or, if earlier, upon your death.  
14.No Fractional Shares.  The number of Performance Shares to be distributed to you under this Award Agreement will be rounded down to the nearest whole share.  
15.Severability and Judicial Modification.  If any provision of this Award Agreement is held to be invalid or unenforceable under pertinent state law or otherwise or the Company elects not to enforce any such provision, the remaining provisions shall remain in full force and effect and the invalid or unenforceable provision shall be modified only to the extent necessary to render that provision valid and enforceable to the fullest extent permitted by law.  If the invalid or unenforceable provision cannot be, or is not, modified, that provision shall be severed from this Award Agreement and all other provisions shall remain valid and enforceable.
16.Applicable Law.  This Award Agreement and the award of Performance Shares evidenced hereby will be governed by, and construed in accordance with the laws of the state of Delaware (without regard to its choice-of-law provisions), except to the extent Federal law would apply.
17.Imposition of Other Requirements.  The Company reserves the right to impose other requirements on your participation in the Plan, on the Award and on any shares of Common Stock acquired under the Plan, to the extent the Company determines it is necessary or advisable in order to comply with applicable law or facilitate the administration of the Plan and provided the imposition of the term or condition will not result in adverse accounting expense to the Company, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.
18.Electronic Delivery and Acceptance. The Company is electronically delivering documents related to current or future participation in the Plan and is requesting your consent to participate in the Plan by electronic means.  You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through the current plan administrator’s on-line system, or any other on-line system or electronic means that the Company may decide, in its sole discretion, to use in the future.
19.Entire Agreement.  The Plan is incorporated herein by reference.  The Plan and this Award Agreement (including Exhibits A and B attached hereto) constitute the entire agreement of the parties with respect to the Award and supersede in their entirety all prior proposals, undertakings and agreements, written or oral, and all other communications between you and the Company with respect to the Award.

[insert requirement to acknowledge and accept grant terms]

4

WELLS FARGO & COMPANY
LONG-TERM INCENTIVE COMPENSATION PLAN
PERFORMANCE SHARE AWARD AGREEMENT

Exhibit A to Performance Share Award Agreement

This Exhibit A sets forth the manner in which the Final Award Number will be determined.

Definitions

Capitalized terms used but not defined herein (including, but not limited to, Return on Tangible Common Equity) shall have the same meanings assigned to them in the Plan and the Award Agreement.  In addition, the following terms used in the text of this Exhibit A shall have the meanings set forth below:

“Average Return on Tangible Common Equity” means the sum of the Company’s Return on Tangible Common Equity for each of the 12-month periods ending [applicable dates during the Performance Period], which sum is then divided by [applicable divisor], rounded to two decimals.

“Final Award Number Percentage” means the “Final Award Number Percentage” determined in accordance with the Determination of Final Award Number section of this Exhibit A.

“Financial Performance Group Companies” means, in addition to the Company, the companies listed below, provided that if, during the Performance Period, one or more of such companies shall merge, engage in a spin-off, or its existence or primary businesses shall terminate or cease due to receivership, bankruptcy, sale, or otherwise, then the Committee may eliminate such company as a Financial Performance Group Company or make such other equitable adjustments, such as adding an acquirer or a new company to the list of Financial Performance Group Companies, as it deems appropriate.

[Financial Performance Group Companies]

“Net Operating Loss” means for any year in the Performance Period, that the Company reports a net loss in the Company's consolidated financial statements, and a net loss continues to exist after eliminating the effect of the following items, each determined based on generally accepted accounting principles: (1) losses resulting from discontinued operations; (2) the cumulative effect of changes in generally accepted accounting principles; and (3) any other unusual or infrequent loss which is separately identified and quantified.

“Return on Tangible Common Equity” (ROTCE) means the net income of the Company as reported in its consolidated financial statements on an annualized basis less dividends accrued on outstanding preferred stock, divided by the Company’s average total equity less preferred equity, noncontrolling interests, goodwill, certain identifiable intangible assets (other than mortgage servicing rights) and goodwill and other intangibles on nonmarketable equity securities, net of applicable deferred taxes, as may be adjusted by the Committee, in its discretion, for the effect of (i) losses resulting from discontinued operations, (ii)  the cumulative effect of significant changes in generally accepted accounting principles, and (iii) any other unusual or infrequently occurring  gain or loss which is separately identified and quantified.

“Company Total Stockholder Return Ranking” means the rank of the Company’s Total Stockholder Return relative to the Total Stockholder Return achieved by each of the other Financial Performance Group Companies.  

“Total Stockholder Return” means for each of the Financial Performance Group Companies (a)(i) the company’s average closing price of a share of common stock (as reported in such reliable source as determined by the Committee, in its sole discretion) over the [applicable period], plus the value of any dividends declared on such common stock in respect of an [applicable date] occurring during the Performance Period, as adjusted assuming such dividends were reinvested in shares of common stock of the Company on such [applicable date], minus (ii) the Company’s average closing price of a share of common stock (as reported in such reliable source as determined by the Committee, in its sole discretion) over the [applicable period] plus the value of any dividends declared on such common stock in respect of an [applicable date] occurring during such  [applicable period] (“Base Price”), divided by (b) the Base Price (in each case, with such adjustments as are appropriate, in the judgment of the Committee in its sole discretion, to equitably calculate Total Stockholder Return in light of any stock splits, reverse stock splits, stock dividends, and other extraordinary transactions or other changes in the capital structure of the company, as applicable).   

5

Determination of Final Award Number

Net Operating Loss Adjustments.  If the Company incurs a Net Operating Loss for any year in the Performance Period, the Target Award Number will be reduced by [applicable percentage] for each such year, effective upon certification by the Committee of a Net Operating Loss for such year.  The Target Award Number after giving effect to any such Net Operating Loss adjustment is referred to herein as the “NOL Adjusted Target Award Number.”  If the Company does not incur a Net Operating Loss in any year in the Performance Period, your NOL Adjusted Target Award Number will be the same as your Target Award Number.     

               Absolute ROTCE Performance.  As set forth in the table below, the Final Award Number of Performance Shares will be determined by (A) first, multiplying (i) the Final Award Number Percentage (rounded to the nearest whole percent and rounding up any half percentage point result), determined using linear interpolation within the applicable Company Average Return on Tangible Common Equity range by (ii) your NOL Adjusted Target Award and (B) second, making any adjustments to the number calculated in accordance with “A” of this Section, “Absolute ROTCE Performance,” within the Committee’s discretion, as set forth below.

									
	Company Average ROTCE	Final Award Number Percentage	Final Award Number of Performance Share

	[applicable ROTCE range]
	[applicable %]
	[applicable %] x NOL Adjusted Target Award Number

	[applicable ROTCE range]
	[applicable %]
	[applicable %] x NOL Adjusted Target Award Number

	[applicable ROTCE range]
	[applicable %]
	[applicable %] x NOL Adjusted Target Award Number

	[applicable ROTCE range]
	[applicable %]
	[applicable %] x NOL Adjusted Target Award Number

In the event that the Company’s Average Return on Tangible Common Equity is [applicable ROTCE range], the Committee will, in its discretion, determine the Final Award Number Percentage, between [applicable percentage range]. However, in no event shall the Final Award Number Percentage be greater than [applicable percentage] nor shall the Final Award Number of Performance Shares be greater than [applicable percentage] of the NOL Adjusted Target Award Number.  

The Committee may, in its discretion, make positive or negative adjustments to the number calculated in accordance with “A” of this section, “Absolute ROTCE Performance,” as it deems equitable and appropriate, to exclude the effect of, or give appropriate effect to, the following types of events or matters with respect to the Company occurring after the Grant Date: (1) economic and market factors (e.g., changes in interest rates, disruptions in capital markets) affecting the Company or its consolidated financial statements; (2) changes in accounting standards, principles, practices or policies, including the interpretation or application thereof, or in tax or other laws, rules, or regulations; (3) progress on risk and control work and regulatory commitments; (4) expenses related to restructuring and remediation, and for investments related to the risk and control environment; or (5) other similar events, matters or changed circumstances. 

               TSR Governor. If the Final Award Number Percentage is above [applicable percentage], but the Company Total Stockholder Return Ranking is at or below the median Total Stockholder Return ranking when compared to the Total Stockholder Returns of the other Financial Performance Group Companies, the Final Award Number Percentage shall be reduced to [applicable percentage] and the Final Award Number of Performance Shares shall be [applicable percentage] of the NOL Adjusted Target Award Number.

            Dividend Equivalents. As provided in paragraph 5, you will be entitled to receive Performance Shares with respect to dividend equivalents on the Final Award Number (or the Target Award Number, as applicable, and as may be adjusted under paragraphs 4(a), 4(b), 4(c) and 4(d)) to determine the total number of Performance Shares that will be distributed to you upon settlement.

               [Exclusion. In determining the Company Average Return on Tangible Common Equity and Net Operating Loss for purposes of determining the Final Award Number of Performance Shares the impact of any penalties or other charges related to litigation, investigations or examinations arising out of retail sales practices of the Company or arising out of other material regulatory matters related to conduct of the Company, in each case during periods prior to your commencement of employment with the Company will be excluded.]

6

Committee Determination

The Committee shall determine the Final Award Number of Performance Shares after the end of the Performance Period and not later than [applicable date].  The date the Committee makes such determination is referred to in this Award Agreement as the "Determination Date."

The Committee shall make all determinations in calculating the Final Award Number of Performance Shares and the Committee’s determination shall be binding.

7

WELLS FARGO & COMPANY
LONG-TERM INCENTIVE COMPENSATION PLAN
PERFORMANCE SHARE AWARD AGREEMENT

Exhibit B to Performance Share Award Agreement

Cause

“Cause” means (1) the continued failure by you to substantially perform your duties; (2) your conviction of a crime involving dishonesty or breach of trust, conviction of a felony, or commission of any act that makes you ineligible for coverage under the Company's fidelity bond or otherwise makes you ineligible for continued employment; or (3) your violation of the Company’s policies, including but not limited to Wells Fargo’s Code of Ethics and Business Conduct (or the Code applicable to your line of business), Anti-Bribery and Corruption Policy, Information Security Policies, and Risk Management Accountability Policy.  For the avoidance of doubt, an event or conduct constituting Cause could take place before or after your termination of employment.
Change in Control
“Change in Control” means a change in the ownership or effective control of the Company or the Affiliate that employs you, or in the ownership of a substantial portion of the assets of the Company or the Affiliate that employs you within the meaning of Treas. Reg. Section 1.409A-3(i)(5) as determined by the Company.
Disability
You will be considered to have a “Disability” if you are (1) receiving income replacement benefits for a period of not less than three months under the Company’s or an Affiliate’s long-term disability plan as a result of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months; or (2) determined by the Social Security Administration to be eligible for social security disability benefits. 
Separation from Service 
A “Separation from Service” occurs upon your death, [retirement] [Retirement (as defined in paragraph 4(d) above] or other termination of employment or other event that qualifies as a “separation from service” under Internal Revenue Code Section 409A and the applicable regulations thereunder as in effect from time to time.  The Company shall determine in each case when a Separation from Service has occurred, which determination shall be made in a manner consistent with Treasury Regulation Section 1.409A-1(h).  The Company shall determine that a Separation from Service has occurred as of a certain date when the facts and circumstances indicate that the Company (or an Affiliate, if applicable) and you reasonably anticipate that, after that date, you will render no further services, or your level of bona fide services (either as an employee or independent contractor) will permanently decrease to a level that is 20% or less than the average level of your bona fide services (either as an employee or independent contractor) previously in effect for you over the immediately preceding 36-month period (or your entire period of service, if you have been providing services for less than 36 months).

The following presumptions shall also apply to all such determinations:
(1)         Transfers.  A Separation from Service has not occurred upon your transfer of employment from the Company to an Affiliate or vice versa, or from an Affiliate to another Affiliate.
(2)       Medical leave of absence.  Where you have a medical leave of absence due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six months, and you have not returned to employment with the Company or an Affiliate, a Separation from Service has occurred on the earlier of:  (A) the first day on which you would not be considered “disabled” under any disability policy of the Company or Affiliate under which you are then receiving a benefit; or (B) the first day on which your medical leave of absence period exceeds 29 months.
(3)      Military leave of absence.  Where you have a military leave of absence, and you have not returned to employment with the Company or an Affiliate, a Separation from Service has occurred on the day next following the last day on which you are entitled to reemployment rights under USERRA.

(4)           Salary continuation leave.  A Separation from Service has occurred on the first day of your salary continuation leave taken under the Company’s Salary Continuation Pay Plan.

8

(5)          Other leaves of absence.  In the event that you are on a bona fide leave of absence, not otherwise described in this definition, from which you have not returned to employment with the Company or an Affiliate, your Separation from Service has occurred on the first day on which your leave of absence period exceeds six months or, if earlier, upon your termination of employment (provided that such termination of employment constitutes a Separation from Service in accordance with the last sentence of the first paragraph of this definition).

(6)          Asset purchase transaction.  If, in connection with the sale or other disposition of substantial assets (such as a division or substantially all assets of a trade or business) of the Company or an Affiliate to an unrelated buyer, you become an employee of the buyer or an affiliate of the buyer upon the closing of or in connection with such transaction, a Separation from Service has not occurred if the Company and the buyer have specified that such transaction will not, with respect to any individual affected by such transaction who becomes an employee of the buyer or an affiliate, be considered a “separation from service” under Treasury Regulation Section 1.409A-1(h), and such specification meets the requirements of Treasury Regulation Section 1.409A-1(h)(4).

Specified Employee

A “Specified Employee” means an individual who at any time during the applicable identification period is:

(1)          one of the top 50 most highly compensated officers in the Controlled Group with a title of Senior Vice President or above (where the “Controlled Group” includes the Company and its controlled group members); or 

(2)           a member of the Wells Fargo Operating Committee or the Wells Fargo Management Committee Review Group; or 

(3)           a "key employee" under Internal Revenue Code Section 416(i)(1)(A)(i), (ii) or (iii) (applied in accordance with the regulations thereunder and disregarding Internal Revenue Code Section 416(i)(5)). 

For purposes of applying Internal Revenue Code Section 409A, the “identification period” is the 12-month period ending each December 31.  Any person described in (1), (2) or (3) above during an identification period shall be treated as a Specified Employee for the entire 12-month period beginning on the following April 1.  

Notwithstanding the above, in the event of a corporate transaction to which the Company or an Affiliate is a party, the Company may, in its discretion, establish a method for determining Specified Employees pursuant to Treasury Regulation Section 1.409A-1(i)(6).  

9

WELLS FARGO & COMPANY
LONG-TERM INCENTIVE COMPENSATION PLAN
PERFORMANCE SHARE AWARD AGREEMENT

Exhibit C to Performance Share Award Agreement

WELLS FARGO & COMPANY
Clawback and Forfeiture Policy

Effective as of January 1, 2021, this Clawback and Forfeiture Policy (the “Policy”) of Wells Fargo & Company (”Wells Fargo”), as adopted by Wells Fargo’s Board of Directors, is as follows.

1.Definitions. For purposes of this Policy the following terms shall have the meanings set forth below:

1.1“Affiliate” has the meaning set forth in the Wells Fargo & Company Long Term Incentive Compensation Plan.
1.2“Award” means any specific award of Incentive Compensation.
1.3“Board” means the Board of Directors of Wells Fargo.
1.4“Cause” means (1) the continued failure by the employee to substantially perform his/her duties; (2) conviction of a crime involving dishonesty or breach of trust, conviction of a felony, or commission of any act that makes the employee ineligible for coverage under the Company's fidelity bond or otherwise makes the employee ineligible for continued employment; (3) the employee’s violation of the Company’s policies including but not limited to Wells Fargo’s Code of Ethics and Business Conduct (or the Code applicable to the employee’s line of business), Anti-Bribery and Corruption Policy, Information Security Policies, and Risk Management Accountability Policy; or (4) the employee’s breach of confidentiality or restrictive covenants entered into between the employee and the Company. For the avoidance of doubt, an event or conduct constituting Cause could arise, or be discovered by the Company, before or after the employee’s termination of employment.
1.5“Committee” means the Human Resources Committee of the Board or such other committee as designated by the Board.
1.6“Company” means Wells Fargo, a Delaware corporation, and its Affiliates.
1.7“Covered Employee(s) in Management” or “CEM(s)” means an employee who has been designated as a CEM by the Company based on his or her role, responsibilities, or activities, in each case under criteria established by the Company from time to time.
1.8“Executive Officer” means any executive officer as designated by the Board to be subject to Section 16 of the Securities Exchange Act of 1934, as amended.
1.9“Incentive Compensation” means all incentives, whether paid in cash or in equity that are awarded, granted, earned, vested or paid to an employee. 
1.10“Performance Conditions” has the meaning set forth in Section 2.2 of the Policy.
1.11“Performance Share” has the meaning set forth in the Wells Fargo & Company Long-Term Incentive Compensation Plan.

2.Authority to Claw back, Cancel, or Forfeit Incentive Compensation. The Committee shall be authorized to claw back, cancel, or forfeit Incentive Compensation from employees, including former employees of the Company, to the extent permitted by applicable law, in the following circumstances:

10

2.1Short-Term Cash-Based Incentive Compensation. The Committee may claw back of all or part of short-term cash-based Incentive Compensation (“cash incentive”)  previously paid to a CEM to the extent that:

a)The amount of the cash incentive was based upon the achievement of certain financial results that were subsequently reduced due to a financial restatement (public restatement) or was based upon one or more materially inaccurate performance metrics; or

b)The CEM engaged in willful misconduct or gross negligence that caused material financial or reputational harm to the Company.

2.2Long-Term Incentive Compensation. The Committee may (1) claw back all or a portion of any previously vested or paid long-term Award; or (2) cause a performance adjustment, including the forfeiture or cancellation, of all or a portion of any unpaid or unvested long-term Award, if the Committee, or such other designee as referenced above, determines, in its discretion, that any one of the following “Performance Conditions” has occurred:

a)The employee engages in: (1) misconduct or commits an error that, in each case, causes material financial or reputational harm to the Company or to the employee’s business group; or (2) for purposes of a cancellation or forfeiture (but not for clawback), any conduct that constitutes Cause;

b)The amount of the Award was based upon the achievement of certain financial results that were subsequently reduced due to a financial restatement (public restatement) or was based upon one or more materially inaccurate performance metrics;

c)In connection with the employee’s job responsibilities, (1) failure through willful misconduct or gross negligence of the employee, including in a supervisory capacity, to identify, escalate, monitor, or manage, in a timely manner risks material to the Company or to the employee’s business group in accordance with Company policies and procedures (as applicable) or (2) the Company or the employee’s business group suffers a material failure of risk management; or

d)For purposes of unpaid or unvested Performance Share Awards only, failure of the employee, based on his or her role and responsibility, to achieve progress on resolving outstanding consent orders and/or other regulatory matters in accordance with commitments made by the Company. 

The Committee may consider any factors it determines necessary or appropriate in determining whether any of the aforementioned conditions apply and in determining whether a clawback or a performance adjustment, including forfeiture or cancellation, is appropriate and the amount thereof based on the particular facts and circumstances. All determinations by the Committee will be final and binding. 

In addition, the Company may dismiss the employee, authorize legal action, or take such other action to enforce the employee’s obligations to the Company as the Company may deem appropriate based on the particular facts and circumstances. The Company in determining the appropriate action, may but shall not be required to take into account penalties or punishments imposed by third parties, such as law enforcement agencies, regulators or other authorities. The Company’s power to determine the appropriate remedial action with respect to the employee is in addition to, and not in replacement of, remedies imposed by such third party entities.

3.Method of Clawback. The Committee, in its discretion, shall determine whether the Company shall effect a clawback (subject to applicable law) by (a)  seeking repayment from the employee, (b)  reducing  the amount that would otherwise be payable to the employee under any compensation, 
11

bonus, incentive, equity or other benefit plan, agreement, policy or arrangement maintained by the Company, (c) canceling any unpaid or unvested Incentive Compensation previously awarded to the employee, (d) withholding compensation including grants of compensatory or equity awards, that otherwise would have been paid or made in accordance with the Company's compensation practices, commitments, or decisions, or (e) any combination of the foregoing.

4.Performance Year(s) Subject to Clawback or Forfeiture. The requirements of this Policy shall apply to (a) the most recent Incentive Compensation that has been vested and/or paid, so long as such payment(s) have taken place within five years from when the Committee approves a clawback; and (b) all unvested and/or unpaid Incentive Compensation.

5.Delegation of Authority. Any power of the Committee under this Policy may be exercised, except with respect to Executive Officers, by a duly authorized delegate of the Committee.

6.Interpretation. 

6.1The Committee has full authority to make determinations regarding the interpretation of the provisions of this Policy.
6.2This Policy is applicable to all Incentive Compensation awarded or granted beginning January 1, 2021.
6.3In the event of any conflict between the terms of this Policy and the terms of any Company plan, agreement, policy or arrangement under which Incentive Compensation has been granted or awarded, the terms of this Policy shall prevail.
6.4In the event that any provision of this Policy or any part hereof is found invalid, the remainder of this Policy will be binding on the parties hereto and will be construed as if the invalid provision or part thereof had been deleted from this Policy.
6.5This Policy shall not apply to employees categorized as Identified Staff who are subject to the Malus and Clawback Policy for Identified Staff Team Members. “Identified Staff” means individuals who have been classified as identified staff for the purposes of the remuneration codes of the UK Financial Conduct Authority, the remuneration rules of the UK Prudential Regulation Authority, the Investment Firms Prudential Rules of the UK Financial Conduct Authority, the EU Capital Requirements Directive, the EU Alternative Investment Fund Managers Directive, the EU Undertakings for Collective Investment in Transferable Securities Directive, the EU Investment Firms Directive, or any associated directives, regulations and implementing legislation, rules or guidance, in each case as amended or replaced from time to time.
6.6To the extent Section 409A of the Internal Revenue Code is applicable to any Award, this Policy does not authorize any offset or substitution that would not comply with such Section.

7.Amendment or Termination. The Board or the Committee shall have the right to amend or cancel this Policy at any time if it determines in its sole discretion that such action would be in the best interests of the Company. Notwithstanding the authority of the Board or the Committee to amend this Policy, Wells Fargo’s Chief Human Resources Officer or the Head of Total Rewards, or such equivalent title, may amend the Policy to incorporate administrative revisions.

12

Wells Fargo Agreement Regarding Trade Secrets, 
Confidential Information, Non-Solicitation and Assignment of Inventions

I. Introduction 
In consideration for the Performance Share Award granted to me by Wells Fargo & Company on [insert date], on the terms and conditions contained in the Performance Share Award Agreement (“Performance Share Award Agreement”), I acknowledge that the nature of my employment with and performance of services for Wells Fargo & Company and its affiliates (the “Company”) permits me to have access to certain of its trade secrets and confidential and proprietary information and that such information is, and shall always remain, the sole property of the Company. Any unauthorized disclosure or use of this information would be wrongful and would cause the Company irreparable harm. I also acknowledge that if in the course of my employment I develop Inventions (as defined herein), I agree that the property rights of such inventions belong to the Company and agree to assist, as may be necessary, with the assignment of these Inventions to the Company.  Therefore, I agree as follows: 
II.  Confidential Information 
During the course of my employment I will acquire knowledge of the Company’s Confidential Information.  The Company’s Confidential Information includes the following:

Trade Secrets:   “Trade Secrets” shall be defined under the Uniform Trade Secrets Act (the “UTSA”), as may be amended from time to time.  If the UTSA is not recognized by a state or jurisdiction that is interpreting this agreement, “Trade Secrets” is defined as information, including a formula, pattern, compilation, program, device, method, technique, or process, that: (1) derives independent economic value, actual or potential, from not being generally known to and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and (2) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. 

Proprietary Information:  
•The names, address, and contact information of the Company’s customers and prospective customers, as well as any other personal or financial information relating to any customer or prospect, including, without limitation, account numbers, balances, portfolios, maturity and/or expiration or renewal dates, loans, policies, investment activities, purchasing practices, insurance, annuity policies and objectives;

•Any information concerning the Company’s operations, including without limitation, information related to its methods, services, pricing, costs, margins and mark ups, finances, practices, strategies, business plans, agreements, decision-making, systems, technology, policies, procedures, marketing, sales, techniques, agent information, and processes; and

•Any other proprietary and/or confidential information relating to the Company’s customers, products, services, sales, technologies, or business affairs.

Company Records: The records, documents, files and archives of the Company and include, but are not limited to, original, duplicated, computerized, memorized, handwritten or any other form of information, whether contained in materials provided to me by the Company, or by any institution acquired by the Company, or compiled by me in any form or manner including information in documents or electronic devices, such as software, flowcharts, graphs, spreadsheets, resource manuals, videotapes, calendars, day timers, planners, rolodexes, or telephone directories maintained in personal computers, laptop computers, personal digital assistants or any other device.

13

Personnel Records: Personal information about Company employees contained in the Company’s records and to which access is restricted and granted only for purposes of performing and evaluating job duties.

Confidential Information:  “Confidential Information” includes (comprises) Trade Secrets, Proprietary Information, Company Records and Personnel Records.

I understand that my obligation to maintain the confidentiality of all Confidential Information continues at all times during and after my employment.  Confidential Information does not become any less confidential or proprietary to the Company because I may commit some of it to memory or because I may otherwise maintain this information outside of the Company’s offices. 

I agree that any Confidential Information of the Company is to be used by me solely and exclusively for the purpose of conducting business on behalf of the Company. I am expected to keep such Confidential Information confidential and not to divulge, use or disclose this information except for that purpose. If I resign or am terminated from my employment for any reason, I agree to immediately return to the Company all Company Records and Confidential Information, including information maintained by me in my office, outside of the office, in personal electronic devices, and in any format or storage system.

Notwithstanding the foregoing, I understand that nothing contained in this Agreement prohibits or restricts me (or my attorney) from initiating communications directly with, or responding to any inquiry from, or providing testimony before, the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the National Labor Relations Board, the Equal Employment Opportunity Commission, or any self-regulatory organization or governmental authority charged with the enforcement of any laws.

III. Non-Solicitation of Company’s Employees and Customers
I agree that for the period beginning on my termination date with the Company through the greater of (i) the period beginning on my termination date through the Determination Date as defined in the Performance Share Award Agreement or (ii) the one-year period following my termination date (“the Non-Solicitation Period”), I will not do any of the following, either directly or indirectly or through associates, agents, or employees:  

a.         to the fullest extent enforceable under the applicable state law, solicit, recruit  or induce the solicitation or recruitment of any employee or consultant of the Company for the purpose of encouraging that employee or consultant to leave the Company’s employ or sever an agreement for services; or 

b.         to the fullest extent enforceable under the applicable state law, solicit, participate in or induce the solicitation of any of the Company's clients, customers, or prospective customers with whom I had Material Contact and/or regarding whom I received Confidential Information, for the purpose of providing products or services (“Competitive Products/Services”).  “Material Contact” means interaction between me and the customer, client or prospective customer within one (1) year prior to my Separation of Service (as defined in the Performance Award Agreement) which takes place to manage, service or further the business relationship.

This limitation is not intended to limit the Company’s right to prevent misappropriation of its Confidential Information beyond the Non-Solicitation Period.    

IV.  Assignment of Inventions

I agree to disclose to the Company promptly in writing complete information regarding all Inventions that I make, conceive or first reduce to practice (alone or in conjunction with others) during my employment with the Company. For the purposes of this Assignment, the term “Invention” means any invention, discovery, design, formula, modification, improvement, new idea, business method, process, algorithm, software program, know how or trade secret, or other work or concept, whether recorded in a written document, electronically or not recorded at all and whether or not copyrightable or patentable. 

14

The categories of Inventions that are subject to this assignment are: (1) all Inventions that relate at the time of conception or reduction to practice of the Invention to the Company’s business, or actual or demonstrably anticipated research or development of the Company whether or not I made, conceived or first reduced the Inventions to practice during normal working hours; and (2) all Inventions involving the use of any time, material, information, or facility of the Company. 

I acknowledge and agree that all Inventions and all worldwide intellectual property rights therein are owned by the Company. All intellectual property rights in the Inventions shall vest in the Company on the date such Inventions are created, conceived, reduced to practice, actually or constructively, or reduced to a tangible medium of expression, whichever occurs first. Without limiting the foregoing, I agree that if any Inventions are copyrightable and fall within the definition of a “work made for hire” as defined in 17 U.S.C. §101 and §201(b), such Inventions will be considered “works made for hire” and all copyrights and copyright registrations related to such copyrightable Inventions will be the sole and exclusive property of the Company. If, and to the extent that, all intellectual property rights in any Inventions do not vest in the Company, I hereby irrevocably grant and assign, and agree to assign, to the Company without reservation, all of my worldwide ownership rights, title and interest in and to all Inventions and all present and future intellectual property rights in such Inventions, and irrevocably waive all moral rights in, and other intellectual property rights to, all Inventions.

By entering into this Assignment, I understand that I am not conveying any rights in Inventions I may have made, conceived or first reduced to practice before my employment with the Company (“Prior Inventions”). If I claim ownership in any Prior Inventions, I have identified and provided a non-confidential description of each such Prior Invention in the space provided below (and on additional pages as necessary):

			
	

I further agree, without charge and at the Company’s expense, to give the Company all assistance it reasonably requires to evidence, establish, maintain, perfect, protect, and use the rights to the Inventions I have assigned to it. In particular, but without limitation, I agree to sign all documents, supply all information, and provide all written or oral testimony that the Company may deem necessary or desirable to: (i) transfer or record the transfer of my entire right, title, and interest in the assigned Inventions; (ii) enable the Company to obtain patent protection for such Inventions anywhere in the world; and (iii) protect and enforce Company’s rights in the Inventions and the intellectual property rights therein. Notwithstanding the foregoing, I hereby irrevocably appoint Wells Fargo as attorney in fact (coupled with an interest) to execute any such documents.

V. Defend Trade Secrets Act Notice
I acknowledge and agree that nothing in this Agreement is intended to discourage or restrict me from reporting any theft of Trade Secrets pursuant to the Defend Trade Secrets Act of 2016 (the “DTSA”) or other applicable state or federal law.  The DTSA prohibits retaliation against an employee because of whistleblower activity in connection with the disclosure of Trade Secrets, so long as any such disclosure is made either (A) in confidence to an attorney or a federal, state, or local government official and solely to report or investigate a suspected violation of the law, or (B) under seal in a complaint or other document filed in a lawsuit or other proceeding. Nothing in this Agreement shall limit, curtail or diminish the Company’s statutory rights under the DTSA, any applicable state law regarding trade secrets or common law.

VI. Employment At Will
I understand that my employment with the Company is “at will” which means; (1) the Company and I both have the right to terminate my employment at any time, with or without advance notice and with or without cause and, (2) the Company has the right to change policies and terms and conditions of my employment at any time. I also understand that nothing in this Agreement changes, alters or modifies my “at will” status or my obligation to comply with all policies, procedures and rules of the Company, as they may be adopted or amended from time to time. My employment at will status may not be changed except 
15

in writing, signed by me and an officer of the Company at the level of executive vice president or higher, authorized by the senior Human Resource Manager for my business group. 

VII. Injunctive Relief & Damages
Recognizing the irreparable nature of the injury that could be done by my violation of this Agreement and that money damages alone would be inadequate compensation to the Company, it is agreed that any violation of this Agreement by me should be the proper subject for immediate injunctive relief, specific performance and other equitable relief which shall be in addition to and not in lieu of any other remedies and damages to the Company may recover. 

VIII. Partial Invalidity 
If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement shall remain in full force and effect and the invalid or unenforceable provision shall be modified only to the extent necessary to render that provision valid and enforceable to the fullest extent permitted by law.  If the invalid or unenforceable provision cannot be modified, that provision shall be severed from the Agreement and all other provisions shall remain valid and enforceable. 

IX. Choice of Law/Integration/Survival 
This Agreement and any dispute, controversy or claim which arises under or relates in any way to it shall be governed by the law of the state where the incident(s) giving rise to the dispute or claim arose. This Agreement supersedes any prior written or verbal agreements pertaining to the subject matter herein, and is intended to be a final expression of our Agreement with respect only to the terms contained herein. There may be no modification of this Agreement except in writing signed by me and an executive officer of the Company.  This Agreement shall survive my employment by the Company, inure to the benefit of successors and assigns of the Company, and is binding upon my heirs and legal representatives. 

Acknowledgement

I acknowledge that I have read, understand, and received a copy of this Agreement, and will abide by its terms.

[Name of Executive]      Date

End of Form of Performance Share Award Agreement

For Grants on or after January 26, 2021

16

Form of Restricted Share Rights Award Agreement for Grants on or after January 26, 2021

Brackets identify provisions that may vary depending on the particular grant, grant recipient, and/or other relevant factor
.
WELLS FARGO & COMPANY
LONG-TERM INCENTIVE COMPENSATION PLAN
RESTRICTED SHARE RIGHTS AWARD AGREEMENT

Grant Date: [applicable date]

1.Award.  To encourage your continued employment with the Company or any Affiliate and to motivate you to help the Company increase stockholder value over the long term, Wells Fargo & Company (the “Company”) has awarded you the number of Restricted Share Rights as set forth on the acknowledgement screen for your grant on this website (the “Award”).  Each Restricted Share Right entitles you to receive one share of Wells Fargo & Company common stock ("Common Stock") contingent upon vesting and subject to the other terms and conditions set forth in the Company’s Long‐Term Incentive Compensation Plan, as may be amended from time to time (the “Plan”) and this Award Agreement. 
2.Vesting.   Except as otherwise provided in this Award Agreement, and subject to the Company’s right to recoup or forfeit all or any portion of this Award and other conditions as provided in this Award Agreement, including but not limited to the Clawback Policy (defined below) and other terms of paragraph 3, the Restricted Share Rights will vest and be settled according to the following schedule:  [vesting schedule]
Shares of Common Stock in settlement of the Restricted Share Rights will be issued to you or, in case of your death, your Beneficiary determined in accordance with the Plan.  Although you may receive dividend equivalents as provided below, you will have no rights as a stockholder of the Company with respect to your Restricted Share Rights until settlement.  Upon vesting, each Restricted Share Right will be settled and distributed as one share of Common Stock except as otherwise provided in the Plan or this Award Agreement, subject to the Clawback Policy and the other terms of paragraph 3 and the restrictions in paragraphs 8 and 9 below.  You acknowledge that your transactions in any shares of Common Stock you may acquire pursuant to this Award are subject to your compliance with the Company’s Personal Trading Policy, including with respect to certain blackout trading restrictions and preclearance requirements, to the extent applicable to you.
3.Clawback Policy.  The Award is fully conditioned on and subject to the Performance Conditions (as defined in the Clawback Policy) to vesting and the other clawback, forfeiture and cancellation provisions described in the Wells Fargo & Company Clawback and Forfeiture Policy attached hereto as Exhibit [A] [B], as it may be amended from time to time (the “Clawback Policy”).  The Award is also subject to any other applicable reduction, recoupment, “malus” or “clawback” policies, practices or provisions of the Company and its Affiliates, as in effect from time to time, and any applicable reduction, recoupment, malus or clawback requirements imposed under laws, rules and regulations.
4.Termination.   
(a)If you cease to be an Employee due to your death, any then unvested Restricted Share Rights awarded hereby (including any Restricted Share Rights granted with respect to dividend equivalents as provided below) will immediately vest upon your date of death and will be settled and distributed to your Beneficiary in shares of Common Stock between the date of your death and December 31 of the year following the year in which you die.  Notwithstanding the foregoing, if by the last date set forth herein your Beneficiary has not presented evidence deemed satisfactory by the Company to allow transfer of the shares of Common Stock to the Beneficiary under applicable laws, the Company may treat all unvested Restricted Share Rights as forfeited, in which case the Company shall have no obligation to issue shares of Common Stock or benefits in lieu of such shares to your Beneficiary and shall have no liability therefor. 
(b)If you incur an involuntary [Separation from Service] [termination of employment] as a result of one of the following:
(1)          application of the Company’s Extended Absence Policy to you in connection with a Disability,
(2)          your displacement and receipt of an immediate lump sum severance benefit, placement on a Salary Continuation Leave of Absence or placement on another leave of absence which will result in your receipt of a severance benefit in connection with that leave, or 

17

(3)           the Company or an Affiliate entering into a corporate transaction with another company (the “buyer”) (including a transaction where the buyer acquires all or any portion of the assets, stock or operations of the Company or Affiliate) and pursuant to the terms of the transaction you are continuing in employment with the buyer after completion of the corporate transaction, 
any then unvested Restricted Share Rights awarded hereby (including any Restricted Share Rights granted with respect to dividend equivalents as provided below) will immediately vest and will be settled and distributed to you in shares of Common Stock within 70 days from your [Separation from Service] [termination of employment], subject to the Clawback Policy and the other terms of paragraph 3 above, the restrictions in paragraphs 8 and 9 below [and the stock ownership requirements in paragraph 13 below].  [For purposes of the foregoing, your termination of employment shall be deemed to occur on the first day of your Salary Continuation Leave of Absence or other applicable leave of absence under paragraph 4(b)(2) above.]
[For purposes of this Award, you will be considered to have a “Disability” if you are (1) receiving income replacement benefits for a period of not less than three months under the Company’s or an Affiliate’s long term disability plan as a result of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months; or (2) determined by the Social Security Administration to be eligible for social security disability benefits.] [The definitions of the terms “Separation from Service” (which is determined by the Company in accordance with Section 409A (as defined in paragraph 11 below)) and “Disability” are set forth on Exhibit A to this Award Agreement, which definitions are incorporated by reference herein.] 
(c)   [If you have a Separation from Service that is not addressed in paragraph 3(b) above for a reason other than Cause and you satisfy the definition of Retirement [under the Plan] [(defined below)] on your Separation from Service date or you satisfy the definition of Retirement following your Separation from Service date at the end of an approved leave of absence not to exceed six months, any then unvested Restricted Share Rights awarded hereby (including any Restricted Share Rights granted with respect to dividend equivalents as provided below) will continue to vest and be settled upon the scheduled vesting date as set forth in paragraph 2 above, subject to the Clawback Policy and the other terms of paragraph 3 above, the restrictions in paragraphs 8 and 9 and the stock ownership requirements in paragraph 13 below, provided that beginning immediately after you cease to be an Employee and continuing until the last vesting date upon which all Restricted Share Rights granted hereunder shall become vested, to the fullest extent enforceable under applicable state law, you do not perform services as an officer, director, employee, consultant or otherwise for any business which is in competition with any line of business of the Company or any Affiliate for which you performed your responsibilities while you were employed by the Company or any Affiliate (including predecessors thereof) and which does business in any location in the geographic footprint of the Company or any Affiliate for which you performed your responsibilities (the “vesting condition”).  [For purposes of this Award, the term “Retirement” is defined as termination of employment after reaching (i) age 55 with five completed years of service or (ii) such more favorable treatment as may apply based on the practices of the Company in effect from time to time.]  Notwithstanding the foregoing, if you die following Retirement and have satisfied the vesting condition set forth above through your date of death, subject to the limitations set forth in paragraph 4(a), any then unvested Restricted Share Rights will vest immediately upon your date of death and will be settled and distributed to your Beneficiary in shares of Common Stock between the date of your death and December 31 of the year following the year in which you die. The definition of the term “Cause” is set forth on Exhibit A to this Award Agreement, which definition is incorporated by reference herein.]   
(d)   If the Affiliate that employs you incurs a Change in Control and you continue employment with the buyer immediately after the Change in Control, any then unvested Restricted Share Rights awarded hereby (including any Restricted Share Rights granted with respect to dividend equivalents as provided below) will immediately vest and will be settled and distributed to you in shares of Common Stock within 70 days from the date the Change in Control occurred, subject to the Clawback Policy and the other terms of paragraph 3 above and the restrictions in paragraphs 8 and 9 below [and the stock ownership requirements in paragraph 13 below].  [Exhibit A to this Award Agreement sets forth the definition of the term “Change in Control,” which definition is incorporated in this Award Agreement by reference.]  [“Change in Control” means a change in the ownership or effective control of the Company or the Affiliate that employs you, or in the ownership of a substantial portion of the assets of the Company or the Affiliate that employs you within the meaning of Treas. Reg. section 1.409A-3(i)(5) as determined by the Company.]
(e)If you [incur a Separation from Service] [terminate employment] other than for a reason described in paragraphs 4(a), (b), [or] (c)[, or (d)] above, any then unvested Restricted Share Rights awarded hereby (including any Restricted Share Rights granted with respect to dividend equivalents as provided below) will immediately terminate without notice to you and will be forfeited.
18

5.Dividend Equivalents.  During the period beginning on the Grant Date and ending on the date the applicable Restricted Share Rights vest and are distributed, or are forfeited, whichever occurs first, if the Company pays a dividend on the Common Stock, you will automatically receive, as of the payment date for such dividend, dividend equivalents in the form of additional Restricted Share Rights based on the amount or number of shares that would have been paid on the Restricted Share Rights had they been issued and outstanding shares of Common Stock as of the record date and, if a cash dividend, the closing price of the Common Stock on the New York Stock Exchange as of the dividend payment date.  You will also automatically receive dividend equivalents with respect to such additional Restricted Share Rights, to be granted in the same manner.  Restricted Share Rights granted with respect to dividend equivalents will be subject to the same vesting schedule and other terms and conditions as the underlying Restricted Share Rights, including the Company’s right of recoupment or forfeiture, and will be distributed in shares of Common Stock when, and if, the underlying Restricted Share Rights are settled and distributed. 
6.Tax Withholding.  Regardless of any action the Company or an Affiliate which is your employer (the “Employer”) takes with respect to any or all income tax, payroll tax, payment on account or other tax-related items related to your participation in the Plan and legally applicable to you or deemed by the Company or the Employer to be an appropriate charge to you even if technically due by the Company or the Employer (“Tax-Related Items”),  you acknowledge that the ultimate liability for all Tax-Related Items is and remains your responsibility and may exceed the amount (if any) withheld by the Company or the Employer.  You further acknowledge that the Company and/or the Employer: (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the grant, vesting or settlement of the Restricted Share Rights, the issuance of shares of Common Stock upon settlement  of the Restricted Share Rights, the subsequent sale of shares of Common Stock acquired pursuant to such issuance and the receipt of any dividends and/or any dividend equivalents; and (b) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Award to reduce or eliminate your liability for such Tax-Related Items or to achieve any particular tax result.  Further, if you are subject to Tax-Related Items in more than one jurisdiction, you acknowledge that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.
Prior to any relevant taxable or tax withholding event, as applicable, you shall pay or make adequate arrangements satisfactory to the Company or the Employer to satisfy all Tax-Related Items.  In this regard, you authorize the Company and/or the Employer, or their respective agents, at their discretion and pursuant to such procedures as the Company may specify from time to time, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following: (1) withholding from any wages or other cash compensation paid to you by the Company and/or the Employer; (2) withholding from proceeds of the sale of shares of Common Stock acquired upon vesting and settlement of the Restricted Share Rights either through a voluntary sale or through a mandatory sale arranged by the Company (on your behalf pursuant to this authorization without further consent); or (3) withholding in shares of Common Stock to be issued upon vesting and settlement of the Restricted Share Rights. Notwithstanding the foregoing, if you are subject to the short-swing profit rules of Section 16(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), the Company will withhold in shares of Common Stock upon the relevant tax withholding event, [except with respect to any Tax-Related Items required to be withheld prior to the vesting dates set forth in paragraph 2 which may be withheld from your wages or other cash compensation].  Only if withholding in shares of Common Stock is prevented by applicable law or has materially adverse accounting or tax consequences, may the Tax-Related Items withholding obligation for individuals subject to Section 16(b) of the Exchange Act be satisfied by one or a combination of methods (1) and (2) above.
Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or other applicable withholding rates, including maximum applicable rates, in which case you will receive a refund of any over-withheld amount in cash and will have no entitlement to the Common Stock equivalent. Anything to the contrary in this paragraph 6 notwithstanding, the Company or the Employer’s right to withhold any amounts payable pursuant to this Award to cover Tax-Related Items for any portion of the Award that is considered deferred compensation subject to Section 409A (as defined in paragraph 11 below) shall be limited to the minimum amount permitted to avoid a prohibited acceleration under Section 409A.  If the obligation for Tax-Related Items is satisfied by withholding in shares of Common Stock, for tax purposes, you will be deemed to have been issued the full number of shares of Common Stock subject to the vested Restricted Share Rights, notwithstanding that a number of the shares of Common Stock are held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of your participation in the Plan.
Finally, you shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of your participation in the Plan that cannot be satisfied by the means previously described.  The Company may refuse to issue or deliver the shares or the 
19

proceeds of the sale of shares of Common Stock, if you fail to comply with your obligations in connection with the Tax-Related Items.  
7.Nontransferable.  Unless the Committee provides otherwise, (i) no rights under this Award will be assignable or transferable, and neither you nor your Beneficiary will have any power to anticipate, alienate, dispose of, pledge or encumber any rights under this Award, and (ii) the rights and the benefits of this Award may be exercised and received during your lifetime only by you or your legal representative.
8.Other Restrictions; Amendment.  The grant of the Award and issuance of Common Stock hereunder is subject to compliance by the Company, its Affiliates and you with all legal and regulatory requirements applicable thereto, including compliance with the requirements of 12 C.F.R. Part 359, orders issued under 12 U.S.C. § 1818(b) (together with any agreements related thereto, “orders”) and tax withholding obligations, and with all applicable regulations of any stock exchange on which the Common Stock may be listed at the time of issuance.  For the avoidance of doubt, regulatory approval under Part 359 or any orders to which the Company is a party may be required for the issuance of Common Stock hereunder in certain circumstances, and the Company cannot provide any assurance that it will be able to request such approval in accordance with the requirements of Part 359 or any applicable order or that any requested approval will be received.  Subject to [paragraph 11] [paragraphs 11 and 12] below, the Committee or its delegate may, in its sole discretion and without your consent, reduce, delay vesting, modify, revoke, cancel, impose additional conditions and restrictions on or recover all or a portion of this Award if the Committee or its delegate deems it necessary or advisable to comply with, or to promote or facilitate compliance with, applicable laws, rules and regulations or as required under any procedures or policies implemented by the Company in furtherance of such legal or regulatory compliance.  
9.Restrictive Covenants.  In consideration of the terms of this Award and your access to Confidential Information, you agree to the restrictive covenants and associated remedies as set forth below, which exist independently of and in addition to any obligation to which you are subject under the terms of the Wells Fargo Agreement Regarding Trade Secrets, Confidential Information, Non-Solicitation, And Assignment Of Inventions (the “TSA”):
(a)Trade Secrets and Confidential Information.  During the course of your employment, you will acquire knowledge of the Company’s and/or any Affiliate’s (collectively “WFC”) Trade Secrets and other proprietary information relating to its business, business methods, personnel, and customers (collectively, “Confidential Information”). “Trade Secrets” means WFC’s confidential information, which has an economic value in being secret and which WFC has taken steps to keep secret and you understand and agree that Trade Secrets include, but are not limited to, confidentially maintained client and customer lists and information, and confidentially maintained prospective client and customer lists and information.  You agree that Confidential Information of WFC is to be used solely and exclusively for the purpose of conducting business on behalf of WFC. You agree to keep such Confidential Information confidential and will not divulge, use or disclose this information except for that purpose.  In addition, you agree that, both during and after your employment, you will not remove, share, disseminate or otherwise use WFC’s Trade Secrets to directly or indirectly solicit, participate in or induce the solicitation of any of WFC’s clients, customers, or prospective customers for the purpose of providing products or services that are in competition with WFC’s products or services. Notwithstanding the foregoing, nothing contained in this Award Agreement prohibits or restricts you (or your attorney) from initiating communications directly with, or responding to any inquiry from, or providing testimony before, the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the National Labor Relations Board, the Equal Employment Opportunity Commission, or any self-regulatory organization or governmental authority charged with the enforcement of any laws.
(b)Assignment of Inventions.  You acknowledge and agree that all inventions and all worldwide intellectual property rights that you make, conceive or first reduce to practice (alone or in conjunction with others) during your employment with WFC are owned by WFC that (1) relate at the time of conception or reduction to practice of the invention to WFC’s business, or actual or demonstrably anticipated research or development of WFC whether or not you made, conceived or first reduced the inventions to practice during normal working hours; and (2) involve the use of any time, material, information, or facility of WFC. 
(c)Non-solicitation.  If you are currently subject to a TSA, you shall continue to be bound by [the] applicable and enforceable terms of the TSA.  You also agree to the below terms independently of, and in addition to, any obligation to which you are subject under the terms of the TSA.  If you are not currently subject to a TSA, you agree to the following: 
For a period of one year immediately following termination of your employment for any reason, you will not do any of the following, either directly or indirectly or through associates, agents, or employees: 
i.to the fullest extent enforceable under the applicable state law, solicit, recruit  or induce the solicitation or recruitment of any employee or consultant of WFC for the purpose of encouraging that employee or consultant to leave WFC’s employ or sever an agreement for services; or
20

ii.to the fullest extent enforceable under the applicable state law, solicit, participate in or induce the solicitation of any of WFC’s clients, customers, or prospective customers with whom you had Material Contact and/or regarding whom you received Confidential Information, for the purpose of providing products or services that are in competition with WFC’s products or services. "Material Contact" means interaction between you and the customer, client or prospective customer within one (1) year prior to your last day as a team member which takes place to manage, service or further the business relationship. 
The one-year limitation is not intended to limit WFC’s right to prevent misappropriation of its Confidential Information beyond the one-year period.
(d)Violation of TSA or Restrictive Covenants.  If you breach any of the terms of a TSA and/or the restrictive covenants above, all unvested Restricted Share Rights shall be immediately and irrevocably forfeited.  For any Restricted Share Rights that vested within one (1) year prior to the termination of your employment with WFC or at any time after your termination, you shall be required to repay or otherwise reimburse WFC an amount having a value equal to the aggregate fair market value (determined as of the date of vesting) of such vested shares.  This paragraph does not constitute the Company’s exclusive remedy for violation of your restrictive covenant obligations, and WFC may seek any additional legal or equitable remedy, including injunctive relief, for any such violation.   
10.No Employment Agreement.  Neither the award to you of the Restricted Share Rights nor the delivery to you of this Award Agreement or any other document relating to the Restricted Share Rights will confer on you the right to continued employment with the Company or any Affiliate.  You understand that your employment with the Company or any Affiliate is “at will” and nothing in this document changes, alters or modifies your “at will” status or your obligation to comply with all policies, procedures and rules of the Company, as they may be adopted or amended from time to time.  
11.Section 409A.  This Award is intended to [comply with the requirements] [be exempt from] of Section 409A of the Internal Revenue Code of 1986, as amended, and the applicable Treasury Regulations or other binding guidance thereunder (“Section 409A”).  Accordingly, all provisions included in this Award Agreement, or incorporated by reference, will be interpreted and administered in accordance with that intent.  [Therefore, all Restricted Share Rights will be settled and distributed no later than March 1 of the year following the year when such Restricted Share Rights vest.]  If any provision of the Plan or this Award Agreement would otherwise conflict with or frustrate this intent, that provision will be interpreted and deemed amended or limited so as to avoid the conflict; provided, however, that the Company makes no representation that the Award is exempt from or complies with Section 409A and makes no undertaking to preclude Section 409A from applying to the Award. The Company will have no liability to you or to any other party if the Award or payment of the Award that is intended to be [compliant with] [exempt from] Section 409A is not so [compliant] [exempt] or for any action taken by the Committee with respect thereto.
12.[Six-month Delay.  Notwithstanding any provision of the Plan or this Award Agreement to the contrary, if, upon your Separation from Service for any reason, the Company determines that you are a “Specified Employee” for purposes of Section 409A and in accordance with the definition set forth on Exhibit A to this Award Agreement, which definition is incorporated by reference herein, your Restricted Share Rights, if subject to settlement upon your Separation from Service and if required pursuant to Section 409A, will not settle before the date that is the first business day following the six-month anniversary of such Separation from Service, or, if earlier, upon your death.]  
13.Stock Ownership Policy.  If you are an Executive Officer of the Company or a member of its Operating Committee, as a condition to receiving this Award, you agree that you are subject to the Company’s stock ownership policy, as may be amended from time to time, and that as a result, you may be required to hold, including after your Retirement, all or a portion of any shares of Common Stock issued to you pursuant to this Award in order to achieve compliance with such stock ownership policy.
14.Severability and Judicial Modification. If any provision of this Award Agreement is held to be invalid or unenforceable under pertinent state law or otherwise or the Company elects not to enforce any such provision, including but not limited to paragraph 9(c)(ii), the remaining provisions shall remain in full force and effect and the invalid or unenforceable provision shall be modified only to the extent necessary to render that provision valid and enforceable to the fullest extent permitted by law.  If the invalid or unenforceable provision cannot be, or is not, modified, that provision shall be severed from this Award Agreement and all other provisions shall remain valid and enforceable.
15.Additional Provisions.  This Award Agreement is subject to the provisions of the Plan.  Capitalized terms not defined in this Award Agreement are used as defined in the Plan.  If the Plan and this Award Agreement are inconsistent, the provisions of the Plan will govern.  Interpretations of the Plan and this Award Agreement by the Committee are binding on you and the Company.
21

16.Applicable Law.  This Award Agreement and the award of Restricted Share Rights evidenced hereby will be governed by, and construed in accordance with the laws of the state of Delaware (without regard to its choice-of-law provisions), except to the extent Federal law would apply.
17.Imposition of Other Requirements.  The Company reserves the right to impose other requirements on your participation in the Plan, on the Award and on any shares of Common Stock acquired under the Plan, to the extent the Company determines it is necessary or advisable in order to comply with applicable law or facilitate the administration of the Plan and provided the imposition of the term or condition will not result in adverse accounting expense to the Company, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.
18.Electronic Delivery and Acceptance. The Company is electronically delivering documents related to current or future participation in the Plan and is requesting your consent to participate in the Plan by electronic means.  You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through the current plan administrator’s on-line system, or any other on-line system or electronic means that the Company may decide, in its sole discretion, to use in the future.
19.Entire Agreement.  The Plan is incorporated herein by reference.  The Plan and this Award Agreement [(including Exhibit A attached hereto)] constitute the entire agreement of the parties with respect to the Award and supersede in their entirety all prior proposals, undertakings and agreements, written or oral, and all other communications between you and the Company with respect to the Award.

[insert requirement to acknowledge and accept grant terms]

22

[Exhibit A]
[Certain Definitions]
[Separation from Service 

A Participant’s “Separation from Service” occurs upon his or her death, Retirement [(defined in paragraph 4(c) above)] or other termination of employment or other event that qualifies as a “separation from service” under Internal Revenue Code Section 409A and the applicable regulations thereunder as in effect from time to time.  The Company shall determine in each case when a Participant’s Separation from Service has occurred, which determination shall be made in a manner consistent with Treasury Regulation Section 1.409A-1(h).  The Company shall determine that a Separation from Service has occurred as of a certain date when the facts and circumstances indicate that the Company (or an Affiliate, if applicable) and the Participant reasonably anticipate that, after that date, the Participant will render no further services, or the Participant’s level of bona fide services (either as an employee or independent contractor) will permanently decrease to a level that is 20% or less than the average level of the Participant’s bona fide services (either as an employee or independent contractor) previously in effect for such Participant over the immediately preceding 36-month period (or the Participant’s entire period of service, if the Participant has been providing services for less than 36 months).

The following presumptions shall also apply to all such determinations:

(1)        Transfers.  A Separation from Service has not occurred upon the Participant’s transfer of employment from the Company to an Affiliate or vice versa, or from an Affiliate to another Affiliate.

(2)        Medical leave of absence.  Where the Participant has a medical leave of absence due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six months, and he or she has not returned to employment with the Company or an Affiliate, a Separation from Service has occurred on the earlier of:  (A) the first day on which the Participant would not be considered “disabled” under any disability policy of the Company or Affiliate under which the Participant is then receiving a benefit; or (B) the first day on which the Participant’s medical leave of absence period exceeds 29 months.

(3)        Military leave of absence.  Where the Participant has a military leave of absence, and he or she has not returned to employment with the Company or an Affiliate, a Separation from Service has occurred on the day next following the last day on which the Participant is entitled to reemployment rights under USERRA.

(4)        Salary continuation leave.  A Separation from Service has occurred on the first day of the Participant’s salary continuation leave taken under the Company’s Salary Continuation Pay Plan.

(5)        Other leaves of absence.  In the event that the Participant is on a bona fide leave of absence, not otherwise described in this definition, from which he or she has not returned to employment with the Company or an Affiliate, the Participant’s Separation from Service has occurred on the first day on which the Participant’s leave of absence period exceeds six months or, if earlier, upon the Participant’s termination of employment (provided that such termination of employment constitutes a Separation from Service in accordance with the last sentence of the first paragraph of this definition).

(6)        Asset purchase transaction.  If, in connection with the sale or other disposition of substantial assets (such as a division or substantially all assets of a trade or business) of the Company or an Affiliate to an unrelated buyer, the Participant becomes an employee of the buyer or an affiliate of the buyer upon the closing of or in connection with such transaction, a Separation from Service has not occurred if the Company and the buyer have specified that such transaction will not, with respect to any individual affected by such transaction who becomes an employee of the buyer or an affiliate, be considered a “separation from service” under Treasury Regulation Section 1.409A-1(h), and such specification meets the requirements of Treasury Regulation Section 1.409A-1(h)(4).]

[Specified Employee

A “Specified Employee” means an individual who at any time during the applicable identification period is:

(1)        one of the top 50 most highly compensated officers in the Controlled Group with a title of Senior Vice President or above (where the “Controlled Group” includes the Company and its controlled group members); or 

23

(2)        a member of the Wells Fargo Operating Committee or the Wells Fargo Management Committee Review Group; or 

(3)        a "key employee" under Internal Revenue Code Section 416(i)(1)(A)(i), (ii) or (iii) (applied in accordance with the regulations thereunder and disregarding Internal Revenue Code Section 416(i)(5)). 

For purposes of applying Internal Revenue Code Section 409A, the “identification period” is the 12-month period ending each December 31.  Any person described in (1), (2) or (3) above during an identification period shall be treated as a Specified Employee for the entire 12-month period beginning on the following April 1.  

Notwithstanding the above, in the event of a corporate transaction to which the Company or an Affiliate is a party, the Company may, in its discretion, establish a method for determining Specified Employees pursuant to Treasury Regulation Section 1.409A-1(i)(6).]  

[Disability 
You will be considered to have a “Disability” if you are (1) receiving income replacement benefits for a period of not less than three months under the Company’s or an Affiliate’s long-term disability plan as a result of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months; or (2) determined by the Social Security Administration to be eligible for social security disability benefits.] 
 

[Cause 
 “Cause” means (1) the continued failure by you to substantially perform your duties; (2) your conviction of a crime involving dishonesty or breach of trust, conviction of a felony, or commission of any act that makes you ineligible for coverage under the Company's fidelity bond or otherwise makes you ineligible for continued employment; or (3) your violation of the Company’s policies, including but not limited to Wells Fargo’s Code of Ethics and Business Conduct (or the Code applicable to your line of business), Anti-Bribery and Corruption Policy, Information Security Policies, and Risk Management Accountability Policy. For the avoidance of doubt, an event or conduct constituting Cause could take place before or after your termination of employment.]

[Change in Control
 “Change in Control” means a change in the ownership or effective control of the Company or the Affiliate that employs you, or in the ownership of a substantial portion of the assets of the Company or the Affiliate that employs you within the meaning of Treas. Reg. section 1.409A-3(i)(5) as determined by the Company.]

24

Exhibit [A] [B]

WELLS FARGO & COMPANY
Clawback and Forfeiture Policy

Effective as of January 1, 2021, this Clawback and Forfeiture Policy (the “Policy”) of Wells Fargo & Company (”Wells Fargo”), as adopted by Wells Fargo’s Board of Directors, is as follows.

1.Definitions. For purposes of this Policy the following terms shall have the meanings set forth below:

1.1“Affiliate” has the meaning set forth in the Wells Fargo & Company Long Term Incentive Compensation Plan.
1.2“Award” means any specific award of Incentive Compensation.
1.3“Board” means the Board of Directors of Wells Fargo.
1.4“Cause” means (1) the continued failure by the employee to substantially perform his/her duties; (2) conviction of a crime involving dishonesty or breach of trust, conviction of a felony, or commission of any act that makes the employee ineligible for coverage under the Company's fidelity bond or otherwise makes the employee ineligible for continued employment; (3) the employee’s violation of the Company’s policies including but not limited to Wells Fargo’s Code of Ethics and Business Conduct (or the Code applicable to the employee’s line of business), Anti-Bribery and Corruption Policy, Information Security Policies, and Risk Management Accountability Policy; or (4) the employee’s breach of confidentiality or restrictive covenants entered into between the employee and the Company. For the avoidance of doubt, an event or conduct constituting Cause could arise, or be discovered by the Company, before or after the employee’s termination of employment.
1.5“Committee” means the Human Resources Committee of the Board or such other committee as designated by the Board.
1.6“Company” means Wells Fargo, a Delaware corporation, and its Affiliates.
1.7“Covered Employee(s) in Management” or “CEM(s)” means an employee who has been designated as a CEM by the Company based on his or her role, responsibilities, or activities, in each case under criteria established by the Company from time to time.
1.8“Executive Officer” means any executive officer as designated by the Board to be subject to Section 16 of the Securities Exchange Act of 1934, as amended.
1.9“Incentive Compensation” means all incentives, whether paid in cash or in equity that are awarded, granted, earned, vested or paid to an employee. 
1.10“Performance Conditions” has the meaning set forth in Section 2.2 of the Policy.
1.11“Performance Share” has the meaning set forth in the Wells Fargo & Company Long-Term Incentive Compensation Plan.

2.Authority to Claw back, Cancel, or Forfeit Incentive Compensation. The Committee shall be authorized to claw back, cancel, or forfeit Incentive Compensation from employees, including former employees of the Company, to the extent permitted by applicable law, in the following circumstances:

2.1Short-Term Cash-Based Incentive Compensation. The Committee may claw back of all or part of short-term cash-based Incentive Compensation (“cash incentive”)  previously paid to a CEM to the extent that:

25

(c)The amount of the cash incentive was based upon the achievement of certain financial results that were subsequently reduced due to a financial restatement (public restatement) or was based upon one or more materially inaccurate performance metrics; or
(d)The CEM engaged in willful misconduct or gross negligence that caused material financial or reputational harm to the Company.
2.2Long-Term Incentive Compensation. The Committee may (1) claw back all or a portion of any previously vested or paid long-term Award; or (2) cause a performance adjustment, including the forfeiture or cancellation, of all or a portion of any unpaid or unvested long-term Award, if the Committee, or such other designee as referenced above, determines, in its discretion, that any one of the following “Performance Conditions” has occurred:
(e)The employee engages in: (1) misconduct or commits an error that, in each case, causes material financial or reputational harm to the Company or to the employee’s business group; or (2) for purposes of a cancellation or forfeiture (but not for clawback), any conduct that constitutes Cause;
(f)The amount of the Award was based upon the achievement of certain financial results that were subsequently reduced due to a financial restatement (public restatement) or was based upon one or more materially inaccurate performance metrics;
(g)In connection with the employee’s job responsibilities, (1) failure through willful misconduct or gross negligence of the employee, including in a supervisory capacity, to identify, escalate, monitor, or manage, in a timely manner risks material to the Company or to the employee’s business group in accordance with Company policies and procedures (as applicable) or (2) the Company or the employee’s business group suffers a material failure of risk management; or
(h)For purposes of unpaid or unvested Performance Share Awards only, failure of the employee, based on his or her role and responsibility, to achieve progress on resolving outstanding consent orders and/or other regulatory matters in accordance with commitments made by the Company. 
The Committee may consider any factors it determines necessary or appropriate in determining whether any of the aforementioned conditions apply and in determining whether a clawback or a performance adjustment, including forfeiture or cancellation, is appropriate and the amount thereof based on the particular facts and circumstances. All determinations by the Committee will be final and binding. 
In addition, the Company may dismiss the employee, authorize legal action, or take such other action to enforce the employee’s obligations to the Company as the Company may deem appropriate based on the particular facts and circumstances. The Company in determining the appropriate action, may but shall not be required to take into account penalties or punishments imposed by third parties, such as law enforcement agencies, regulators or other authorities. The Company’s power to determine the appropriate remedial action with respect to the employee is in addition to, and not in replacement of, remedies imposed by such third party entities.
3.Method of Clawback. The Committee, in its discretion, shall determine whether the Company shall effect a clawback (subject to applicable law) by (a)  seeking repayment from the employee, (b)  reducing  the amount that would otherwise be payable to the employee under any compensation, bonus, incentive, equity or other benefit plan, agreement, policy or arrangement maintained by the Company, (c) canceling any unpaid or unvested Incentive Compensation previously awarded to the employee, (d) withholding compensation including grants of compensatory or equity awards, that otherwise would have been paid or made in accordance with the Company's compensation practices, commitments, or decisions, or (e) any combination of the foregoing.

4.Performance Year(s) Subject to Clawback or Forfeiture. The requirements of this Policy shall apply to (a) the most recent Incentive Compensation that has been vested and/or paid, so long as such 
26

payment(s) have taken place within five years from when the Committee approves a clawback; and (b) all unvested and/or unpaid Incentive Compensation.

5.Delegation of Authority. Any power of the Committee under this Policy may be exercised, except with respect to Executive Officers, by a duly authorized delegate of the Committee.

6.Interpretation. 

6.1The Committee has full authority to make determinations regarding the interpretation of the provisions of this Policy.

6.2This Policy is applicable to all Incentive Compensation awarded or granted beginning January 1, 2021.

6.3In the event of any conflict between the terms of this Policy and the terms of any Company plan, agreement, policy or arrangement under which Incentive Compensation has been granted or awarded, the terms of this Policy shall prevail.

6.4In the event that any provision of this Policy or any part hereof is found invalid, the remainder of this Policy will be binding on the parties hereto and will be construed as if the invalid provision or part thereof had been deleted from this Policy.

6.5This Policy shall not apply to employees categorized as Identified Staff who are subject to the Malus and Clawback Policy for Identified Staff Team Members. “Identified Staff” means individuals who have been classified as identified staff for the purposes of the remuneration codes of the UK Financial Conduct Authority, the remuneration rules of the UK Prudential Regulation Authority, the Investment Firms Prudential Rules of the UK Financial Conduct Authority, the EU Capital Requirements Directive, the EU Alternative Investment Fund Managers Directive, the EU Undertakings for Collective Investment in Transferable Securities Directive, the EU Investment Firms Directive, or any associated directives, regulations and implementing legislation, rules or guidance, in each case as amended or replaced from time to time.

6.6To the extent Section 409A of the Internal Revenue Code is applicable to any Award, this Policy does not authorize any offset or substitution that would not comply with such Section.

7.Amendment or Termination. The Board or the Committee shall have the right to amend or cancel this Policy at any time if it determines in its sole discretion that such action would be in the best interests of the Company. Notwithstanding the authority of the Board or the Committee to amend this Policy, Wells Fargo’s Chief Human Resources Officer or the Head of Total Rewards, or such equivalent title, may amend the Policy to incorporate administrative revisions.

End of Form of Restricted Share Rights Award Agreement

For Grants on or after January 26, 2021

27Document

  Exhibit 10(b)    

Wells Fargo Bonus Plan

© 2021 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.

The Plan is effective January 1, 2021 and replaces all previous Plans.

2    Wells Fargo Bonus Plan

Contents
I.    Purpose of the plan                                            4
II.    Definitions                                                4
III.    Plan funding                                                7
IV.    Plan eligibility and qualification                                        7
A.    Eligible Roles                                                7
B.    Service Requirements                                            7
C.    Employment Status                                            8
D.    Award Qualifiers                                            8
V.    Awards                                                    9
A.    Incentive Opportunity                                            9
B.    Award Recommendation                                        9
C.    Approvals                                                10
VI.    Award payment                                                10
A.    Timing                                                10
B.    Delivery                                                10
VII.    Employment changes                                            11
A.    Leaves of absence                                            11
B.    Changes in employment status                                    11
VIII.    Plan administration                                            13
A.    Plan Administrator                                            13
B.    Payment subject to Applicable Laws and Policies                             13
C.    Disputes                                                14
D.    Overpayments                                            14
E.    Clawbacks                                                14
F.    No Employment Right                                            14
G.    Amendment or termination of the Plan                                15
H.    Assignment                                                15
I.    Unsecured Obligations                                            15
J.    Validity                                                15
K.    Withholding Taxes and Deductions                                    15
L.    Governing Language                                            16
M.    Governing Law and Jurisdiction                                    16
N.    IRS Section 409A for Participants on US-Based Payroll                            16

3    Wells Fargo Bonus Plan

IX.    Appendix A - Specified jobs subject to additional award payout criteria                               17
A.    Specified Jobs                                                17
B.    Risk Performance                                             20
C.    Performance-Based Vesting Impact (Unpaid Long-Term Cash Awards)                    23
D.    Mandatory Deferral of Awards                                        23
X.    Appendix B - Identified Staff                                                   24
XI.    Appendix C - Country Appendix                                                   26
A.    Australia                                                     26
B.    Canada People’s Republic Of China (excluding Hong Kong)                             26
C.     People’s Republic Of China (excluding Hong Kong)                                 27
D.     France                                                     28
E.      Germany                                                     29 
F.      India                                                     30
G.       India - Wells Fargo EGS (India) Solutions Private Limited                                          30
H.      Ireland                                                        31
I.        Japan                                                     32
J.        Korea                                                     32
K.       Luxembourg                                                 33
L.        Netherlands                                                 33    
M.      New Zealand                                                 34
N.       The Philippines                                                 34
O.       The Philippines - Wells Fargo International Solutions - Philippines                         35
P.        Sweden                                                     35
Q.       Taiwan                                                     35
R.        Vietnam                                                     36
S.        United Arab Emirates (Dubai)                                         37
T.        United Kingdom                                                 37
4    Wells Fargo Bonus Plan

I.Purpose of the Plan

The Wells Fargo Bonus Plan (the “Plan”) is a discretionary annual incentive plan focused on appropriate risk management, employee performance and business outcomes and is aligned with Wells Fargo’s compensation principles: Pay for performance; Promote effective risk management; Attract and retain talent. 

Awards paid out under the Plan, are not included when calculating any benefits based on salary. Awards are also not a component of salary due to the Participant at the end of the Participant’s employment with Wells Fargo. An Award under this Plan is not guaranteed, and payment of an Award for one Plan Year does not guarantee the payment of an Award in any subsequent Plan Year. In addition, Awards may be eliminated or reduced at the discretion of Wells Fargo, regardless of Participant eligibility or target award opportunity.

The Country Appendix included in this document addresses regulatory or country-specific requirements. To the extent a Participant works for a Wells Fargo entity in a jurisdiction covered by the Country Appendix, or otherwise is subject to additional remuneration requirements in accordance with applicable local laws and regulations, the provisions described in the Country Appendix or any supplemental document referred to therein shall govern the application of the applicable Plan provisions to the Participant. For the avoidance of doubt, references to “Country Appendix” in this Plan include supplemental documents referred to in the Country Appendix. 

II.Definitions
						
	Term/Acronym	Definition
	Applicable Laws and Policies	All rules, laws, guidance, regulations and all enterprise and business-specific corporate policies and procedures (including “Related Information” and documents referenced in the policies), applicable to the Participants as a Wells Fargo employee and/or the performance of the Participant’s job duties in the Participant’s Wells Fargo position.
	Award	Any incentive compensation provided under the Plan.
	Award Payment Date	Calendar date on which payroll initiates delivery of the Award to a Participant.

5    Wells Fargo Bonus Plan

						
	Term/Acronym	Definition
	Cause
(applicable only to International Participants)
	For purposes of Section VII, B, c, “Terminations – International Participants,” Cause includes, but is not limited to, the termination of the Participant’s employment where such termination involved one or more of the following grounds (unless the term Cause is otherwise replaced by a country-specific definition in the Country Appendix):
(a) the continued failure or refusal of the Participant to perform satisfactorily any duties reasonably required of the Participant, after written notification by the Company or an affiliated company, and the failure of the Participant within thirty (30) calendar days of such notification to correct such breach, failure or refusal (other than failure by reason of incapacity due to physical or mental illness); or
(b) the commission of any fraud, misappropriation, embezzlement or other dishonest act that makes the Participant ineligible for coverage under the Company’s fidelity bond or otherwise makes the Participant ineligible for continued employment; or
(c) any act of gross insubordination or willful misconduct; or
(d) reporting to work under the influence of alcohol, narcotics or unlawful controlled substances, any violation of the Company’s employment policies, key compliance policies or procedures including but not limited to the Code of Ethics and Business Conduct (or the Code applicable to the Participant’s line of business), Anti-Bribery and Corruption Policy, Information Security Policy; and Risk Management Accountability Policy; or
(e) conviction of a felony, or of a misdemeanor involving a dishonest or fraudulent act, or conduct in violation of law or conduct that would constitute a basis for criminal conviction of a felony or of a misdemeanor involving moral turpitude that makes the Participant ineligible for coverage under the Company’s fidelity bond or otherwise makes the Participant ineligible for continued employment; o
(f) violation of any securities or commodities laws, any rules or regulations pursuant to such laws, or the rules and regulations of any securities or commodities exchange or association of which the Company is a member, or violation of any similar law, regulation, ordinance or licensing requirement applicable to employees of financial institutions; or conduct that may reasonably be expected to have an adverse effect on the financial interest or business reputation of the Company or an affiliated company
The foregoing does not represent a complete list of all acts or omissions that may constitute grounds for a termination for Cause. Cause also includes such other acts or omissions recognized as constituting cause (or its closest equivalent, such as grounds for summary dismissal) in a particular work location under applicable law, or the Participant’s employment agreement, or the policies in the work location. The Plan Administrator has the sole discretion to determine whether a particular individual’s employment has been terminated for Cause for the purposes of Plan administration, and its determination is final and binding upon the Company and that individual.

	Company or Wells Fargo	Wells Fargo & Company, its subsidiaries and affiliates.
	Corporate Transaction	Includes, but is not limited to, a transaction where another company contractually agrees to either acquire all or any portion of the assets, stock, or operations of Wells Fargo and/or enters in to some other business arrangement with the company.
	Country Appendix	Identifies where individual country regulations/laws require deviation from the terms in this Plan and addresses those differences.
	Displacement
(applicable only to US Participants)
	A position elimination, substantial position change or other qualifying event described in the Wells Fargo & Company Salary Continuation Pay Plan (the “SCP Plan”) resulting in the termination of the Participant’s employment.

6    Wells Fargo Bonus Plan

						
	Term/Acronym	Definition
	Earn or Earned	An Award will be deemed “Earned” under the Plan when all of the terms and conditions under the Plan have been satisfied with respect to an Award, including:
(a) the Participant’s manager has determined the Participant has met the criteria set forth in Section IV
(b) the Participant’s manager has completed a performance evaluation per the requirements of the Performance Management Framework;
(c) the Participant’s manager has completed an Award recommendation for the Participant
(d) recommendations have been approved by the Plan Administrator; an
(e) the HRC has approved Plan funding and authorized the payment of Awards.

	Employer	The Wells Fargo entity that employs the Participant.
	Executive Officer	Operating Committee Member, the Company’s Management Committee Review Group (“MCRG”) or any other Covered Employee in Management as such term is defined in the Company’s Incentive Compensation Risk Management Policy.
	HRC	The Human Resources Committee of Wells Fargo & Company’s Board of Directors.
	LTCAP	The applicable Long-Term Cash Award Plan (“LTCAP”) governing the terms of long-term cash awards, as follows:
1.For US Participants, it is the Wells Fargo & Company Long-Term Cash Award Plan; and
2.For International Participants, it is the Wells Fargo & Company Long-Term Cash Award Plan for International Employees.

	LTICP	The Wells Fargo & Company Long-Term Incentive Compensation Plan which governs equity Awards such as Restricted Stock Rights (RSRs).
	Misconduct	Inappropriate, unethical, or unlawful behavior on the part of employees or individuals acting on behalf of the Company, caused by deliberate actions or business practices.
	Misconduct Accountability Program (MAP)	Aligns and strengthens the connection between Wells Fargo’s behavioral expectations and compensation principles.
The program’s objective is to implement a consistent approach for how conduct impacts employees performance evaluations and incentive compensation, and helps managers reinforce employee accountability related to conduct.
	Operating Committee Member	Senior managers who are direct reports to the Chief Executive Officer (“CEO”) of the Company.
	Participant	An employee who meets the eligibility and qualifying criteria for participation in this Plan set forth in Section IV. A US Participant refers to a Regular or Part-Time Employee on a US-based payroll; an International Participant refers to an employee on an International-based payroll.

	Part-Time Employee
(applicable only to US Participants)
	An employee scheduled with standard hours of at least 17.5 and less than 30 hours per week (other than those classified as flexible).
	Performance Expectations	Provided to employees under the Performance Management Framework, which may include objectives, risk management and other components.
	Performance Period	The applicable period of time, within the Plan Year, under which a Participant’s performance is evaluated for purposes of Award recommendation.

7    Wells Fargo Bonus Plan

						
	Term/Acronym	Definition
	Plan Administrator	The Head of Human Resources and the Head of Total Rewards of the Company, each of whom may act individually or jointly as the Plan Administrator.
	Plan Year	The 12-month period beginning each January 1 and ending on the following December 31.
	Regular Employee
(applicable only to US Participants)
	An employee scheduled with standard hours of 30 or more per week (other than those classified as flexible).
	Retirement	Unless otherwise specified in the Country Appendix, for purposes of the Plan, a Participant is considered “retired” if the termination is entered in the HR system of record as a retirement.
	STAR Assignment (applies only to US Participants)
	The Short-Term Assignment Resource (STAR) program provides opportunities for active short-term work assignments to Wells Fargo employees who have received written notification of displacement or are on Salary Continuation Leave under the Wells Fargo & Company Salary Continuation Pay Plan.

III.Plan funding

The HRC determines whether a bonus pool will be funded and Awards will be paid under the Plan. Establishment of the pool is not a guarantee that Awards will be paid to Participants nor does it guarantee the amount of any Award payable to an individual Participant. 

IV.Plan eligibility and qualification

Participants who meet all eligibility and qualifying criteria may be considered for an Award under the Plan. Satisfaction of all eligibility and qualifying criteria is not a guarantee of any Award of any amount under the Plan.`

A.Eligible Roles

A variety of roles across Wells Fargo are eligible to participate in the Plan. Eligibility is defined by the job, which captures both participation eligibility and opportunity.

B.Service Requirements

The employee must have actively worked in a Wells Fargo Bonus Plan-eligible job, classified as Part-time or Regular, for a minimum of three calendar months during the Plan Year to become a Participate in the Plan. To be counted as a “month worked,” the employee must be in the job on or before the 15th of the month. External new hires and newly eligible employees must be in their role prior to September 1st of the Plan Year to be eligible to participate in the Plan.

8    Wells Fargo Bonus Plan

C.Employment Status

a.US Participants
A US Participant must be employed by Wells Fargo as of the Award Payment Date, in order to be eligible to be considered for an Award under the Plan, unless otherwise noted below.

i.Exceptions 
Exceptions may be made if the Participant’s employment terminated prior to the Award Payment Date as a result of the Participant’s Retirement, death, a Corporate Transaction, or Displacement as set forth in Section VII . 

ii.STAR Assignments 
A US Participant on a STAR Assignment is eligible for pro-rated Award consideration provided their former job was Plan-eligible and Award Qualifiers and Service Requirements are met. The Award opportunity is based on the former job target as defined and duration of the Plan Year that the employee was in an eligible role and not during the STAR Assignment timeframe. The time in the STAR Assignment job does not apply to the determination of the opportunity target.

b.International Participants
An International Participant must be employed by Wells Fargo, and not serving out a period of notice either given by Wells Fargo or the Participant as of the Award Payment Date, in order to be eligible to be considered for an Award under the Plan, unless otherwise noted below.

i.Exceptions
Exceptions may be made if the Participant’s employment terminated prior to the Award Payment Date because of  a “good leaver event” as set forth in Section VII (Employment Changes) (or, where applicable, Country Appendix) or death, despite the Participant not being employed on the Award Payment Date or serving out a period of notice. 

D.Award Qualifiers

To be eligible for an Award under this Plan, the Participant is expected to meet the following Award qualifiers. Failure to meet one or more qualifiers may result in a reduction or elimination of Award opportunity.  

a.Risk Management 
A Participant is expected to effectively manage all risk associated with their position as set forth in Wells Fargo’s Risk Management Accountability Policy, including, but not limited to, compliance, model, operational, credit, interest rate, liquidity, reputation and strategic, as applicable. 

b.Policy, Law and Regulatory Compliance 
A Participant is expected to comply with all Applicable Laws and Policies including, but not limited to Wells Fargo’s employment policies, Work Rules, Standing Orders, Internal Labor Regulations, and/or Company Regulations (or documents with a similar purpose and intent, however named)1. 

1 If a Participant has a question about the policies and procedures applicable to his/her role, the Participant should promptly contact his/her manager to understand where the Participant can find his/her group’s policies and procedures.

9    Wells Fargo Bonus Plan

c.Conduct
A Participant is expected to adhere to ethical and honest business practices. Violation of the terms or the spirit of the Plan and/or Wells Fargo’s Code of Ethics and Business Conduct, or other Applicable Laws and Policies, by the Participant, or Misconduct, are grounds for disciplinary action, including disqualification from participation in the Plan (including Awards payable under the terms of the Plan) and/or immediate termination of employment. 

Conduct-related disciplinary or corrective action (such as a final notice or formal warning) will be considered in the evaluation of a Participant’s Award opportunity and, if warranted, will result in the Award being adjusted or denied. Other disciplinary or corrective action may also result in an adjustment or denial of a Participant’s Award opportunity, as warranted. Additional performance adjustment and/or forfeitures may be made to any deferred Awards. A Participant, who violates the spirit of the Plan by engaging in inappropriate behavior to receive incentive compensation under this Plan or increase their opportunity for incentive compensation under this Plan, as determined by the Plan Administrator, becomes immediately ineligible to participate in the Plan.

V.Awards
Awards under the Plan are made in the sole and absolute discretion of Wells Fargo and the Plan Administrator, with recommendations from business unit managers and approvals from senior management.  There is no guarantee that an incentive of any amount will be awarded to any Participant.  

A.Incentive Opportunity
a.Incentive Targets
i.Incentive targets are generally represented as a percentage of a Participant’s base salary. The minimum award opportunity is always zero.  
ii.Incentive targets are defined by role and are subject to change at any time at the Company’s sole discretion.
iii.Exceptions to the defined target are only permitted with final approval of the Operating Committee Member for the Participant’s line of business and the Compensation Leader for the Participant’s line of business. 

a.Pro-ration of Incentive Target
Under circumstances in which pro-ration is applied to the incentive target, it is determined based on the number of calendar months the Participant worked in an eligible role during the Plan Year. A calendar month is credited when one of two things occur:

•Participant works from the 1st through the 15th of month; or
•Participant starts on or before the 15th of a month and works through the end of the month.

B.Award Recommendation

The Participant’s manager is responsible for determining whether the Participant has met the Award Qualifiers and other terms of the Plan, prior to providing an incentive recommendation. The incentive recommendation should be primarily based on an evaluation of the performance of the Participant and in consideration of the performance of the line of business and the Company.

10    Wells Fargo Bonus Plan

C.Approvals

Award recommendations are subject to review and approval through the management hierarchy. Management may modify or deny the initial recommendation. Operating Committee Members must approve the aggregate value of Awards for that business upon the conclusion of the annual review cycle performed by the Participant’s line of business. Awards for Executive Officers are reviewed and approved by the Board of Directors, HRC, or Wells Fargo Chief Executive Officer as required by charter and policy. 

Individual Participant Award corrections and any changes resulting from the dispute review process that occur at a later date may be approved solely by the Head of Total Rewards Governance, Compensation Design & Delivery with the exception of those for Participants that are under the governance of the Board of Directors, HRC, or Wells Fargo Chief Executive Officer. 

a.Without limiting the discretion of Wells Fargo or the Plan Administrator, a Participant’s incentive recommendation that is over 150% of target is subject to the Participant’s Award being approved by the Operating Committee Member for the Participant’s line of business and the Plan Administrator.
b.Notwithstanding the foregoing, Awards to Executive Officers are subject to the approval of the HRC.

VI.Award payment

A.Timing

a.US Participants
Awards for US Participants will be paid no later than two and one-half months into the calendar year following the end of the Plan Year. 

b.International Participants
Awards for International Participants will be paid no later than the regularly scheduled payroll for the month of March of the calendar year following the end of the Plan Year, unless otherwise specified in the Country Appendix covering the Participant.

The determination of a Participant’s eligibility for, and payment of, an Award may be delayed if there is a formal investigation or review of the Participant’s conduct in progress on the Award Payment Date, the outcome of which may be dispositive of whether the Participant has met the Award Qualifiers, until such time that a decision that the Participant has met the Award Qualifiers and a final evaluation of the Participant’s performance is made. 

i.Delivery

Awards may be paid in the form of short-term cash or long-term Awards (cash or equity), or a combination thereof, at the HRC’s discretion, at the discretion of the Plan Administrator, or as required by applicable law, regulation or guidance. To the extent all or a portion of an Award is paid in the form of an equity-based Award under the LTICP, the equity-based Award is subject to the approval of and to terms and conditions as approved by the HRC in accordance with the provisions of the LTICP and as reflected in the applicable Award agreement. To the extent all or a portion of an Award is paid in the form of long-term cash, it will be provided under the LTCAP, subject to such terms and conditions of the appropriate LTCAP and as reflected in the applicable Award agreement.

11    Wells Fargo Bonus Plan

For International Participants, any cash Awards are determined and paid in local currency unless determined otherwise by the Company in its discretion. The exchange rate conversion to local currency will be determined at the complete discretion of Wells Fargo.

VII.Employment changes

A.Leaves of absence

If a Participant goes on a leave of absence (“Leave”) during the Plan Year and does not terminate their employment prior to the Award Payment Date, they may be considered for an Award. 

When determining the Award for a Participant who is or was on leave during the Plan Year, the manager should take into consideration the Participant’s achievements and contributions to the team and business over the Performance Period.

B.Changes in employment status

a.Transfers
The following applies for a Participant who transitions between eligible and not eligible roles under the Plan. This applies to both non-eligible jobs and jobs that are eligible for other incentive plans.
•The Participant must meet the criteria set forth in Section IV; and 
•The incentive target opportunity is pro-rated based on the number of calendar months the Participant was in the Plan-eligible role.
The following applies for a Participant who transitions between two or more eligible roles under the Plan: 
•The Participant must meet the criteria set forth in Section IV; and
•The Participant’s incentive target opportunity would be reflective of the Incentive Targets for each eligible role and pro-rated based on time spent in each role.  
In any situation in which the role transition involves a change in reporting manager, the current manager is responsible for making the Award recommendation and should consult with the former manager on the recommendation whenever possible.
b.Terminations – US Participants
A Participant whose employment is terminated prior to the Award Payment Date is not eligible to participate in the Plan, unless otherwise noted below. Other eligibility and service requirements as set forth in Section IV unrelated to employment status on Award Payment Date must be met. Award recommendations for a Participant whose employment is terminated under the following events will follow the normal course of payment timing and be based on Plan funding, target opportunity and pro-rated by the number of months worked during the Plan Year prior to termination.  
i.Retirement
A Participant who retires prior to the Award Payment Date may be considered for an Award. 
12    Wells Fargo Bonus Plan

ii.Displacements
A Participant who receives notice of a qualifying event under the Wells Fargo & Company Salary Continuation Pay Plan (“SCP Plan”) and whose position is eliminated prior to the Award Payment Date, may be considered for an Award. The Notice Period (as defined by the SCP Plan) is applied to the determination of both the Service Requirement and pro-ration calculation. The non-working portion of the Notice Period may not be considered to satisfy the “actively at work” requirement.

iii.Corporate Transactions
In the event of an involuntary termination due to a Corporate Transaction prior to the Award Payment Date, a Participant may be considered for an Award.  

iv.Death
In the event of a Participant’s death, prior to the Award Payment Date, the Participant may be considered for an Award.
c.Terminations - International Participants

If a Participant is serving out a notice period (whether given by Wells Fargo or the Participant for any reason whatsoever) on the Award Payment Date or is otherwise no longer employed on the Award Payment Date, the Participant shall not be eligible to be considered for an Award. 
However, if the reason for the Participant’s cessation of employment is a “Good Leaver Event”, then despite the Participant not being employed on the Award Payment Date, or serving out a period of notice, the Participant may be considered for a pro-rated Award.
i.“Good Leaver Events”
A “Good Leaver Event” means that the Participant has ceased to be an employee of Wells Fargo or an affiliate by reason of:

1.retirement – unless otherwise specified in the applicable Country Appendix, for purposes of participation in the Plan, a Participant is considered “retired” if the termination is entered in the HR system of record as a retirement;

2.injury, ill-health or disability causing the Participant to be absent from work for a period of 182 days (whether or not consecutive) in any period of twelve (12) months; 

3.the Participant’s office or employment, by virtue of which the Participant is eligible for an Award, being transferred to a person or entity that is not an affiliated company of Wells Fargo; or

4.redundancy (i.e., where Wells Fargo or an affiliated company has determined that the Participant’s position or role shall be discontinued and is expressly dismissed by reason of redundancy. For the avoidance of doubt, the Participant is not redundant if, in the view of Wells Fargo or the affiliated company, s/he has been offered reasonable alternative employment or if their employment is terminated without Cause in circumstances other than the discontinuance of the Participant’s position or role). 

A Participant whose employment ends due to Cause, or where one of the reasons for the end of employment falls within the definition of Cause, shall not qualify for a Good Leaver Event. 

13    Wells Fargo Bonus Plan

A Participant may be asked to furnish evidence to support a finding that there is a Good Leaver Event in respect of the Participant.
  
In addition to the Award Qualifiers identified in Section IV, Part D, a Participant will also be required (as a condition of Good Leaver Event treatment) to sign a release of all claims on terms acceptable to their Employer following termination of employment in order to be eligible for any Award under the Plan following the effective date of termination. 

For the avoidance of doubt, this provision on Good Leaver Events does not give rise to any contractual right to receive an Award.

ii.Corporate Transactions
In the event of an involuntary termination due to a Corporate Transaction during the Plan Year or prior to the Award Payment Date, a Participant may be considered for an Award. 

iii.Death
In the event of a Participant’s death, the Participant may be considered for an Award.  For the avoidance of doubt, this provision does not give rise to any contractual right to receive an Award.
VIII.Plan administration

A.Plan Administrator

The Plan Administrator has full discretionary authority to administer and interpret the Plan and may, at any time, delegate to personnel of Wells Fargo such responsibilities as it considers appropriate to facilitate the day-to-day administration of the Plan. Except with respect to Executive Officers, the Plan Administrator’s authority includes approving, denying or adjusting a Participant’s Award amount, Award opportunity or Award recommendation and approving special discretionary payments for Participants who do not meet Service Requirement or Employment Status eligibility terms. The Plan Administrator will consult with such control function partners as appropriate prior to taking any action impacting a Plan Participant. 

The HRC has the authority to make any and all decisions with respect to Awards under the Plan (including special discretionary payments) to Executive Officers.

Plan commitments or interpretations (oral or written) by anyone other than the Plan Administrator, the HRC, or a delegate appointed by either the Plan Administrator or HRC, are invalid and will have no force or effect upon the policies and procedures set forth in this Plan.

In the event of any conflict between the Plan and oral or written communications, summaries, or overviews of, the Plan, the specific terms of this Plan or any official amendments to this Plan will control.

B.Payments subject to Applicable Laws and Policies

The determination and payment of any Award under the Plan is subject to the conditions and restrictions imposed under any applicable law, rules and regulations.  A Participant’s rights to or receipt of compensation under the Plan may be limited, modified, delayed, cancelled or recovered to ensure compliance with all such applicable laws, rules, regulations and guidance that may be issued from time to time.

14    Wells Fargo Bonus Plan

C.Disputes

If a Participant has a dispute regarding their Award under the Plan:

a.A US Participant should attempt to resolve the dispute with the manager of their business unit. If this is not successful, the Participant should prepare a written request for review addressed to Compensation Delivery. The request for review should include any facts supporting the Participant’s request as well as any issues or comments the Participant deems pertinent. Written requests may be submitted via email to: compensationdelivery@wellsfargo.com

Compensation Delivery sends a written response documenting the outcome of this review to the Participant no later than 60 days following the date of the Participant’s written request. (If additional time is necessary, the Participant will be notified in writing.) The determination of this request will be final and conclusive upon all persons.

b.An International Participant should attempt to resolve the dispute with the manager of their business unit. If this is not successful, the Participant should refer to the local grievance or dispute resolution procedure applicable to other employment-related grievances at the Participant’s work location. If a formal grievance or dispute resolution procedure does not exist at the Participant’s work location, the Participant should prepare a written request for review addressed to the Participant’s Human Resources representative and the Plan Administrator within 60 days following the date on which the Award was paid (or would have been paid under the terms of the Plan). The request for review should include any facts supporting the Participant’s request as well as any issues or comments the Participant deems pertinent. The Plan Administrator, or his/her delegate, sends a written response documenting the outcome of this review to the Participant no later than 60 days following the date of the Participant’s written request. (If additional time is necessary, the Participant will be notified in writing.) The determination of this request will be final and conclusive upon all persons.

D.Overpayments

In the event a Participant is overpaid an Award, the amount not Earned may be recouped by Wells Fargo, subject to Applicable Laws and Policies. In the case of termination of employment, the Participant is expected to promptly repay Wells Fargo the portion of the Award amount that was paid but not Earned. 

E.Clawbacks
All Awards granted under this Plan shall be subject to any applicable reduction, recoupment, cancellation, malus or clawback policies, practices or provisions of the Company and its Affiliates, as in effect from time to time, and any applicable reduction, recoupment, cancellation, malus or clawback requirements imposed under Applicable Laws and Policies.

F.No Employment Right

Neither the action of Wells Fargo in establishing or maintaining the Plan, nor any provision of the Plan itself, shall be construed so as to grant any person contractual rights with respect to his or her employment or continued employment (or if applicable, additional contractual rights).

a.US Participants:  The Plan is not an employment contract and participation in the Plan does not alter a Participant’s at-will employment relationship with Wells Fargo.  Both the Participant and Wells Fargo 
15    Wells Fargo Bonus Plan

are free to terminate the US Participant’s employment relationship at any time for any reason.  No rights in the Plan may be claimed by any person whether or not he/she is selected to participate in the Plan.  

b.International Participants: Despite participation in the Plan, a Participant’s employment relationship with Wells Fargo may be terminated at any time in accordance with the Participant’s employment contract, applicable policies and rules at the Participant’s work location, and subject to applicable law. The Plan does not form part of a Participant’s contract of employment, unless otherwise required by applicable laws.

No person shall acquire any right to an accounting audit or to examine the books or the affairs of Wells Fargo.

G.Amendment or termination of the Plan
The Board of Directors of Wells Fargo & Company or the HRC may amend, suspend or terminate the Plan or any incentive opportunity or Award recommendation at any time, for any reason. The Plan Administrator may amend the Plan to the extent consistent with its authority to administer Plan under Section VIII, A, including to revise any country-specific Appendix to comply with the laws governing the jurisdiction under which a Participant subject to such Appendix is located. The Plan Administrator will consult with such control function partners as appropriate in connection with any such amendment.

H.Assignment

No Participant has any right or power to pledge or assign any rights, privileges, or Awards provided for under the Plan unless the Plan provides that Awards may be allocated to certain eligible recipients.  

I.Unsecured Obligations

Awards under the Plan are unsecured obligations of the Company.

J.Validity

In case any provision of this Plan is held illegal or invalid for any reason, the illegality or invalidity of that provision will not affect the remaining parts of the Plan. Instead, this Plan will be construed and enforced as if such illegal or invalid provision had never been inserted herein.

K.Withholding Taxes and Deductions

Wells Fargo shall deduct from all payments under the Plan an amount necessary to satisfy the relevant statutory deductions for income tax, pension and social insurance and/or other applicable statutory pension and/or special/labor insurance contribution deductions required to be taken under the law of the jurisdiction governing the Participant; provided however, the Participant is responsible for appropriate reporting and remittance of taxes and other statutory contributions in relation to incentive payments under this Plan where required in their locations.
16    Wells Fargo Bonus Plan

L.Governing Language

To the extent that this Plan or any other document related to this Plan is made available in local language and English versions for any jurisdiction, should there be any difference in interpretation, the English version will prevail and the relevant local language version shall be deemed to be automatically amended to conform with, and to make the relevant local language version consistent with, the English version.

M.Governing Law and Jurisdiction

The Plan shall be construed, administered and governed in accordance with the laws of the jurisdiction governing the Participant. If any provision of this Plan shall be held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions of the Plan shall continue in full force and effect.

N.IRS Section 409A for Participants on US-Based Payroll

To the extent that an Award is paid in cash under the Plan no later than two and one-half months following the end of the Plan Year, Wells Fargo intends such Award to qualify as a short-term deferral exempt from the requirements of Internal Revenue Code Section 409A. If, however, it is administratively impracticable to pay an Award within two and one-half months following the end of the Plan Year (generally March 15th) or a payment is delayed due to an unforeseeable event,  payment will be made as soon as administratively possible but in no event later than the end of such calendar year. In the event an Award payable under the Plan does not qualify for treatment as an exempt short-term deferral, such amount will be paid in a manner that will satisfy the requirements of Internal Revenue Code Section 409A and applicable guidance thereunder.

17    Wells Fargo Bonus Plan

IX.Appendix. A - Specified jobs subject to additional award payout criteria

Notwithstanding other language in the Plan to the contrary, Participants within the Plan that are in specified jobs in Commercial Banking and Corporate & Investment Banking, Investment Portfolio, and Renewable Energy & Environmental Finance (REEF) are subject to risk performance criteria, performance-based vesting, and mandatory deferrals of Awards as described herein:

A.Specified Jobs
a.Middle Market Banking
									
	Job Title/Job Code	Job Title/Job Code	Job Title/Job Code
	Commercial Bkg Region Exec (146385)	Commercial Rel Mgmt Manager 3 (146003 / N46076)	GIB Local Gvt Rel Mgmt Mgr 1 (146364)
	Commercial Bkg Division Exec (146395)	Commercial Rel Mgmt Manager 4 (146201)	SBA Lending Executive (122062)
	Commercial Bkg Market Rm Ldr (146394)	Commercial Rel Mgmt Mgr 5 (146004)	Bus Relationship Mgr (246562)
	Commercial Bkg Bbg Leader (146405 / N46289)	GIB Portfolio Mgmt Mgr 1 (146361)	Bus Relationship Mgr-Ag (246551)
	Commercial Bkg Cross Sgmt Ldr (146406 / N46288)	GIB Portfolio Mgmt Mgr 2 (146362)	Bus Relationship Mgr-Industry (246552)
	Commercial Bkg Mmb Leader (146404 / N46290)	GIB Portfolio Mgmt Mgr 3 (146363)	Bus Relationship Mgr-Re (246553)
	Coml Bkg Credit Team Manager (117186)	GIB Portfolio Mgr 1 (246574)	Sr Bus Relationship Mgr (246558)
	Coml Bkg Market Credit Lead (246642 / N46307)	GIB Portfolio Mgr 2 (246575)	Sr Bus Relationship Mgr-Ag (246559)
	Coml Bkg Mid-Corp Segment Lead (246625)	GIB Portfolio Mgr 3 (246576)	Sr Bus Relationship Mgr-Industry (246560)
	Coml Division Prtfolio Mgt Ldr (146403)	GIB Rel Manager 2 (246570)	Sr Bus Relationship Mgr-Re (246561)
	Commercial Portfolio Mgr 1 (246294 / N46198)	GIB Rel Manager 3 (246571)	Prin Bus Relationship Mgr (246554)
	Commercial Portfolio Mgr 2 (246295 / N46199)	GIB Rel Manager 4 (246572)	Prin Bus Relationship Mgr-Ag (246555)
	Commercial Portfolio Mgr 3 (246587)	GIB Rel Manager 5 (246573)	Prin Bus Relationship Mgr-Industry (246556)
	Commerical Prtfolio Mgmt Mgr 1 (146366 / N46094)	GIB Rel Mgmt Manager 2 (146357)	Prin Bus Relationship Mgr-Re (246557)
	Commerical Prtfolio Mgmt Mgr 2 (146367 / N46306)	GIB Rel Mgmt Manager 3 (146358)	Business Banking Team Lead (146351)
	Commercial Rel Manager 2 (246002 / N46023)	GIB Rel Mgmt Manager 4 (146359)	Business Banking Manager 1 (146352)
	Commercial Rel Manager 3 (246003 / N46024)	GIB Rel Mgmt Mgr 5 (146360)	Business Banking Manager 2 (146167)
	Commercial Rel Manager 4 (246004 / N46025)	GIB Local Gvt Rel Manager 1 (246577)	Business Banking Manager 3 (146169)
	Commercial Rel Manager 5 (246195 / N46088)	GIB Local Gvt Rel Manager 2 (246578)	Business Banking Manager 4 (146238)
	Commercial Rel Mgmt Manager 2 (146002 / N46142)	GIB Local Gvt Rel Manager 3 (246579)	

18    Wells Fargo Bonus Plan

b.Commercial Real Estate
									
	Job Title/Job Code	Job Title/Job Code	Job Title Job Title/Job Code
	RE Manager Relationship Mgmt 5 (146147)	RE Relationship Manager 3 (246034 / N46032)	Corp Banking Rel Mgr 2 (246092)
	RE Manager Relationship Mgmt 4 (146016 / N46143)	RE Relationship Manager 2 (246033 / N46031)	Corp Banking Rel Mgr 3 (246093)
	RE Manager Relationship Mgmt 3 (146015 / N46028)	RE Relationship Manager 1 (246032 / N46030)	Corp Banking Rel Mgr 4 (246094)
	RE Manager Relationship Mgmt 2 (146014 / N46027)	Corp Bnkg Portfolio Mgr 2 (246296)	Corp Banking Rel Mgr 5 (246245)
	RE Manager Relationship Mgmt 1 (146013 / N46093)	Corp Bnkg Portfolio Mgr 3 (246297)	Corp Bnkg Mgr Rel Mgmt 1 (146048)
	RE Relationship Manager 5 (246367 / N46193)	Corp Bnkg Portfolio Mgr 4 (246298)	Corp Bnkg Mgr Rel Mgmt 2 (146049)
	RE Relationship Manager 4 (246035 / N46033)	Corp Bnkg Portfolio Mgr 5 (246468)	Non-evaluated Wholesale Lender – Manager (N46156)

c.Corporate & Investment Banking (non-pool)
									
	Job Title/Job Code	Job Title/Job Code	Job Title Job Title/Job Code
	ABL Sr. Rel Manager 1 (146081)	Corp Bnkg Portfolio Mgr 3 (246297 / N46136)	CIB Relationship Mgmt Mgr 1 (146398 / N46277)
	ABL Regional Credit Manager (146083)	Corp Bnkg Portfolio Mgr 4 (246298 / N46137)	CIB Relationship Mgmt Mgr 2 (146397 / N46278)
	ABL National Credit Manager (146084)	Corp Bnkg Portfolio Mgr 5 (246468 / N46263)	CIB Relationship Mgmt Mgr 3 (146396 / N46287)
	ABL Rel Manager 1 (246414)	Non-Eval Whlsl Lender-Mgr (146992 / N46156)	CIB Relationship Mgr 2 (246604 / N46280)
	ABL Rel Manager 2 (246165)	CIB Credit Ins Mgmt Mgr (146399)	CIB Relationship Mgr 3 (246603 / N46281)
	ABL Rel Manager 3 (246166)	CIB Credit Insurance 1 (246607)	CIB Relationship Mgr 4 (246602 / N46282)
	ABL Rel Manager 4 (246167)	CIB Credit Insurance 2 (246606)	CIB Relationship Mgr 5 (246601)
	Corp Bnkg Mgr Rel Mgmt 1 (146048 / N46259)	CIB Loan Synd Mgmt Mgr (146402)	CIB Port Mgmt Industry Leader (146412)
	Corp Bnkg Mgr Rel Mgmt 2 (146049 / N46047)	CIB Loan Synd Mgr 1 (246615 / N46284)	GFI Relationship Manager 1 (N46042)
	Corp Bnkg Mgr Rel Mgmt 3 (146050 / N46080)	CIB Loan Synd Mgr 2 (246614 / N46271)	GFI Relationship Mgmt Mgr 1 (N46044)
	Corp Bnkg Mgr Rel Mgmt 4 (146051)	CIB Loan Synd Mgr 3 (246613 / N46272)	Head of WFBI (N22011)
	Corp Bnkg Rel Mgr 2 (246092 / N46086)	CIB Loan Synd Mgr 4 (246612 / N46273)	Reg President & Head of CIB (N22017)
	Corp Bnkg Rel Mgr 3 (246093 / N46087)	CIB Portfolio Manager 2 (246610 / N46275)	Non-Eval Whlsl Lender-Prof (246993 / N46994)
	Corp Bnkg Rel Mgr 4 (246094 / N46048)	CIB Portfolio Manager 3 (246609 / N46276)	Non-Eval Whlsl Lender-Mgr (146992 / N46156)
	Corp Bnkg Rel Mgr 5 (246245 / N46089)	CIB Portfolio Manager 4 (246608 / N46285)	
	Corp Bnkg Portfolio Mgr 2 (246296 / N46135)	CIB Portfolio Mgmt Mgr 1 (146401 / N46286)	

19    Wells Fargo Bonus Plan

d.Wells Fargo Commercial Capital
									
	Job Title/Job Code	Job Title/Job Code	Job Title Job Title/Job Code
	ABL National Credit Manager (146084)	Corp Bnkg Mgr Rel Mgmt 3 (146050)	Head of Comml Dist Finance (122286)
	ABL National Underwriting Mgr (146284 / N462520)	Corp Bnkg Mgr Rel Mgmt 4 (146051)	Non-Eval Whlsl Lender-Mgr (146992 / N46156)
	ABL Portfolio Manager 1 (246547 / N46253)	Corp Bnkg Portfolio Mgr 3 (246297)	Non-Eval Whlsl Lender-Prof (246993 / N46994)
	ABL Portfolio Manager 2 (246548 / N46254)	Corp Bnkg Portfolio Mgr 4 (246298)	Strategic Investment Associate (246645)
	ABL Portfolio Manager 3 (246549 / N46255)	Corp Bnkg Portfolio Mgr 5 (246468)	WF Comml Capital Leader (146380 / N46270)
	ABL Regional Credit Manager (146083 / N46103)	Corp Bnkg Rel Mgr 2 (246092)	WFC Natl Portfolio Mgr (146140)
	ABL Regional Underwriting Mgr (146285 / N17108)	Corp Bnkg Rel Mgr 3 (246093)	WFCC Inv Fin Rel Mgr 1 (146354 / N46237)
	ABL Rel Manager 1 (246414 / N46162)	Corp Bnkg Rel Mgr 4 (246094)	WFCC Inv Fin Rel Mgr 2 (146355)
	ABL Rel Manager 2 (246165 / N46063)	Corp Bnkg Rel Mgr 5 (246245)	WFCC Inv Fin Underwriter 1 (546259 / N46240)
	ABL Rel Manager 3 (246166 / N46018)	Distributed Finance Commercial Leader (146416)	WFCC Inv Fin Underwriter 2 (246580 / N46041)
	ABL Rel Manager 4 (246167 / N46034)	EquipFin Credit Port Mgmt Mgr (146309)	WFCC Inv Fin Underwriter 3 (N46244)
	ABL Sales Associate 2 (N49081)	EquipFin Credit Port Mgr 1 (246466)	WFCC Inv Fin Underwriter 4 (N46245)
	ABL Sr Rel Manager 1 (146081 / N46035)	EquipFin Credit Port Mgr 2 (246467)	WFCC Originations Leader (149318)
	ABL Sr Rel Manager 2 (146082 / N46011)	EquipFin Division Sales Mgr (146356 / N46265)	WFCC Portfolio/Underwriting Leader (117185)
	ABL Sr. Portfolio Manager 1 (146368 / N46258)	EquipFin National Sales Mgr (146125 / N46220)	WFCC Structure & Executive Leader (146415)
	ABL Sr. Portfolio Manager 2 (146369 / N46257)	EquipFin Sales Manager (146008 / N46230)	WFCF Business Group Leader (122243)
	ABL Underwriter 1 (246416 / N46163)	EquipFin Sr Market Sales Mgr (146009 / N46077)	WFCF Division Manager (122187 / N22010)
	ABL Underwriter 2 (246417 / N46164)	Factoring Credit Sr Rel Mgr (146006)	WFCF Hd of Commercial Services (122120)
	ABL Underwriter 3 (246418 / N46165)	Hd Equipment Finance (122043)	WFCF Inv Fin Undrwrtr Mgr 1 (N46246)
	CDF Regional Manager (N49117)	Hd of Global Receivables & Trd (120141)	WFCF Regional Manager (146237)
	Corp Bnkg Mgr Rel Mgmt 1 (146048)	Hd of WF Capital Finance (120029)	WFCF Rel Consultant 1 (246566 / N46242)
	Corp Bnkg Mgr Rel Mgmt 2 (146049)	Head of Commercial Originations (149317)	WFCF Rel Consultant 2 (246567 / N46243)

e.Community Lending and Investment/Multifamily Capital (CLI/MFC)
									
	Job Title/Job Code	Job Title/Job Code	Job Title Job Title/Job Code
	Real Estate Manager Relationship Management 1 (146013)	Real Estate Relationship Manager 3 (246034)	Capital Markets Relationship Manager 2 (246075)
	Real Estate Manager Relationship Management 2 (146014)	Real Estate Relationship Manager 4 (246035)	Capital Markets Relationship Manager 3 (246076)
	Real Estate Manager Relationship Management 3 (146015)	Real Estate Relationship Manager 5 (246367)	Capital Markets Relationship Manager 4 (246536)
	Real Estate Manager Relationship Management 4 (146016)	Capital Markets Manager 1 (146338)	CRA Investment Manager 1 (215055)
	Real Estate Manager Relationship Management 5 (146147)	Capital Markets Manager 2 (146040)	CRA Investment Manager 2 (215056)
	Real Estate Relationship Manager 1 (246032)	Capital Markets Manager 3 (146041)	CRA Investment Manager 3 (215067)
	Real Estate Relationship Manager 2 (246033)	Capital Markets Relationship Manager 1 (246074)	CRA Investment Management Manager 1 (115034)

20    Wells Fargo Bonus Plan

f.Investment Portfolio
									
	Job Title/Job Code	Job Title/Job Code	Job Title Job Title/Job Code
	Derivative Trader 1 (253077)	Inv Portfolio Prg Analyst 1 (246492)	Treasury Portfolio Mgr 1 (207008)
	Derivative Trader 2 (253078)	Inv Portfolio Prg Analyst 2 (246493)	Treasury Portfolio Mgr 2 (207009)
	Derivative Trader 3 (253086)	Inv Portfolio Prg Analyst 3 (246494)	Treasury Portfolio Mgr 3 (207010)
	Fixed Income Trader 1 (253058)	Portfolio Analytics Cons 1 (207023)	Reinsurance Sr. Manager (127019)
	Fixed Income Trader 2 (253059)	Portfolio Analytics Cons 2 (207018)	Rein Asset & Liab Mgmt Analyst (127027)
	Fixed Income Trader 3 (253060)	Portfolio Analytics Cons 3 (207019)	Reinsurance Product Dev Mgr (227245)
	Inv Portfolio Analyst 1 (238083)	Portfolio Analytics Cons 4 (207024)	Rein Client Rel Manager (227048)
	Inv Portfolio Analyst 2 (238084)	Portfolio Analytics Mgr 1 (107021)	Reinsurance Chief Actuary (127016)
	Inv Portfolio Analyst 3 (238085)	Portfolio Analytics Mgr 1 (107024)	Reinsurance Sr Actuary 3 (227246)
	Inv Portfolio Analyst 4 (238086)	Hd of Credit Portfolio Mgmt (138035)	Reinsurance Sr Actuary 2 (227243)
	Inv Portfolio Associate 1 (246495)	Hd of Invst Portfolio Trading (138034)	Reinsurance Sr Actuary 1 (227031)
	Inv Portfolio Associate 2 (246496)	Hd of Macro Portfolio Mgmt (138036)	Reinsurance Actuary (227032)
	Inv Portfolio Associate 3 (246497)	Hd of Port Strategy & Analytcs (138037)	Reinsur Var Annuity Analyst (227247)
	Inv Portfolio Manager 1 (138008)	Treasury Portfolio Mgmt Dir (107008)	Contracts Principal 2 (215046)
	Inv Portfolio Manager 2 (138004)		

g.Renewable Energy & Environmental Finance (REEF)
									
	Job Title/Job Code	Job Title/Job Code	Job Title Job Title/Job Code
	Head of REEF (122303)	Environmental Fin Originator 1 (223021)	Environmental Fin Port Spec 1 (240172)
	Environmental Fin Manager 1 (149314)	Environmental Fin Originator 2 (223022)	Environmental Fin Port Spec 2 (240173)
	Environmental Fin Manager 2 (149315)	Environmental Fin Originator 3 (223023)	Environmental Fin Port Spec 3 (240174)
	Environmental Fin Manager 3 (149316)	Inv Portfolio Manager 2 (138004)	Principal Invest Rech Analyst2 (238023)
	Structure Credit Portfolio An3 (238028)		

Specified jobs in the Plan may be added, removed, or revised throughout the Plan Year at the discretion of the Plan Administrator, in consultation with control function partners, as appropriate. 
B.Risk Performance
a.Each Participant will be assessed for risk for the Performance Period in accordance with the Performance Management policy. Risk performance will be reviewed for the entire Performance Period, even if the Participant changes jobs or no longer participates in this incentive Plan.  Risk performance has a potential impact to a Participant’s Incentive Opportunity and potential impact to incentive-related performance-based vesting conditions for certain outstanding long-term cash Award(s) (see Section IX, C).  The process described below will be one factor for purposes of determining whether any adjustments to a Participant’s Incentive Opportunity for the Plan Year are appropriate.
21    Wells Fargo Bonus Plan

b.Prior to the determination of any Award for a Participant for the applicable Plan Year, the evaluation of performance against the applicable risk performance criteria will include a review of all applicable risks associated with the job(s) including but not limited to credit-related losses and/or financial crimes, operational risk, or regulatory compliance infractions occurring within the scope of the Participant’s role and job duties during the applicable Performance Period. Risk rating recommendations are reviewed by applicable line of business risk leaders and Enterprise risk program leaders, subject to the final approval by senior most risk leader aligned to the line of business.

c.Participants in specified jobs in Commercial Banking or Corporate & Investment Banking only:  The extent/degree of the actual credit-related losses and/or financial crimes, operational risk, or regulatory compliance infractions that could impact the final incentive Award and also trigger a performance-based vesting review applicable to unpaid incentive-related long-term cash Awards include, but are not limited to the following circumstances:

i.Credit Risk:  Any credit-related loss in a Performance Period that is greater than an amount designated by the Head of Commercial Credit for the Participant’s business unit.

a)Losses may be evaluated on the basis of a particular obligor, single transaction or other similar criteria as determined by the Head of Commercial Credit for the Performance Period.
b)Review of Participants who are not managers will be based on their loan portfolio/client relationships.
c)Review of Participants who are managers will be based on both their personal portfolio and their team’s portfolio. 

i.Material infractions in the areas of financial crimes, operational risk, or regulatory compliance risk or related losses. 

ii.Substantial, intentional or repeated violation of financial crimes, operational risk, or regulatory compliance policies and/or requirements for the Participant’s position.

d.Participants in specified jobs in Investment Portfolio only:  The extent/degree of the actual credit-related losses, Market Incidents and/or financial crimes, operational risk, or regulatory compliance infractions that could impact the final incentive Award and also trigger a Performance-Based Vesting review applicable to unpaid incentive-related long-term cash Awards include, but are not limited to the following circumstances:

i.Credit Risk:  Any credit-related loss in a Performance Period that is greater than an amount designated by the Head of Commercial Credit for the Participant’s business unit.

a)Losses may be evaluated on the basis of a particular obligor, single transaction or other similar criteria as determined by the Chief Investment Officer – WF and/or Head of Commercial Credit for the Performance Period.
b)Review of Participants who are not managers will be based on their investments/loan portfolio/client relationships.
c)Review of Participants who are managers will be based on both their personal portfolio and their team’s portfolio. 

ii.Substantial or repeated deviation from the approved risk mandates. 

22    Wells Fargo Bonus Plan

iii.Any trading loss and/or Market Incident deemed material and/or resulted in less than expected performance outcomes (see table below in Section IX, C). The loss limits and Market Incident triggers are established for applicable roles by Corporate Market Risk.

iv.Deliberate or repeated improper marking of positions.

v.Restatement of prior results

vi.Material infractions in the areas of financial crimes, operational risk, or regulatory compliance or related losses. 

vii.Substantial, intentional or repeated violation of financial crimes, operational risk, or regulatory compliance policies and/or requirements for the Participant’s position.

e.Participants in specified jobs in Renewable Energy & Environmental Finance (REEF) only:  The extent/degree of the actual credit-related losses, and/or financial crimes, operational risk, or regulatory compliance infractions that could impact the final incentive Award and also trigger a Performance-Based Vesting review applicable to unpaid incentive-related long-term cash Awards include, but are not limited to the following circumstances:

i.Credit Risk:  Any credit-related loss in a Performance Period that is greater than an amount designated by the Head of Commercial Credit for the Participant’s business unit.

a)Losses may be evaluated on the basis of a particular obligor, single transaction or other similar criteria as determined by the Head of Commercial Credit for the Performance Period.
b)Review of Participants who are not managers will be based on their investments/loan portfolio/client relationships.
c)Review of Participants who are managers will be based on both their personal portfolio and their team’s portfolio. 
ii.Material infractions in the areas of financial crimes, operational risk, or regulatory compliance or related losses. 

iii.Substantial, intentional or repeated violation of financial crimes, operational risk, or regulatory compliance policies and/or requirements for the Participant’s position.

f.Performance evaluation and compensation impacts will be determined in accordance with applicable policies, procedures, and year-end guidance for each Participant involved in a credit-related loss or financial crimes, operational risk, or regulatory compliance risk infraction. Market Incidents will also be considered in the determination for Participants in specified jobs in Investment Portfolio. 

23    Wells Fargo Bonus Plan

C.Performance-Based Vesting Impact (Unpaid Long-Term Cash Awards)
In addition to the potential impact to the Incentive Opportunity as described above in Section IX, B, the less than satisfactory outcome of the review of credit-related losses and/or financial crimes, operational risk, or regulatory compliance risk, Market Incidents (Investment Portfolio participants only) or any other key risk infractions may also impact the performance-based vesting condition in deferred long-term cash Awards.  For details on the application of Performance-Based Vesting, refer to your Award Agreement and the LTCAP.
D.Mandatory Deferral of Awards
Plan Participants identified as being in specified jobs subject to a mandatory deferral of incentive Awards, will be provided applicable terms and conditions, including Award deferral schedules and the payment vehicles used to deliver the Awards, in a separate document.

24    Wells Fargo Bonus Plan

X.Appendix B - Identified Staff 

CRD Identified Staff, IFD/IFR/IFPR Identified Staff and AIFMD/UCITS Identified Staff Participants

This Appendix B (which is also a Country Appendix for the purposes of the Plan) applies to all Participants regardless of the country in which they are employed by an Employer.

If a Participant is CRD Identified Staff, IFD/IFR/IFPR Identified Staff or AIFMD/UCITS Identified Staff, the Participant’s eligibility for an incentive will be governed by, and subject to, the terms and conditions of the Plan, and any other conditions and restrictions imposed under any applicable law, rules and regulations. The form of any Award under the Plan and payout terms and conditions will be governed by the Identified Staff Incentive Payout Structure, a document that supplements the Plan and only applies to Awards granted to CRD Identified Staff, IFD/IFR/IFPR Identified Staff and AIFMD/UCITS Identified Staff Participants.

A.  Definitions

For purposes of this Appendix B, the following definitions shall apply:
1.CRD means Directive 2013/36/EU of the European Parliament and the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms as amended by Directive (EU) 2019/878 of the European Parliament and the Council of 20 May 2019, and all associated directives, regulations and implementing legislation, rules or guidance, in each case as amended or replaced from time to time.
2.IFR means Regulation 2019/2033 of the European Parliament and Council of 27 November 2019 on the prudential requirements of investment firms and IFD means Directive 2019/2034 of the European Parliament and Council of 27 November 2019 on the prudential supervision of investment firms and all associated directives, regulations and implementing legislation, rules or guidance, in each case as amended or replaced from time to time, including the Investment Firms Prudential Rules of the Financial Conduct Authority in the UK (IFPR).
3.AIFMD means Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010, and all associated directives, regulations and implementing legislation, rules or guidance, in each case as amended or replaced from time to time.
4.UCITS means Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities and amending Directive 2014/91/EU, and all associated directives, regulations and implementing legislation, rules or guidance, in each case as amended or replaced from time to time.
5.CRD Identified Staff means all Code Staff and any other Participants who have been classified as Identified Staff for the purposes of CRD.
6.IFD/IFR/IFPR Identified Staff means all Participants who have been classified as Identified Staff for the purposes of IFD/IFR/IFPR.
7.AIFMD/UCITS Identified Staff means all Participants who have been classified as Identified Staff for the purposes of AIFMD and/or UCITS.

25    Wells Fargo Bonus Plan

8.Code Staff means a Participant who has been classified as Code Staff for the purposes of the Financial Conduct Authority dual-regulated firms’ remuneration code, the Financial Conduct Authority IFPRU remuneration code and/or the Prudential Regulation Authority remuneration rules as applicable, each as amended from time to time or any other code or rules issued by a UK regulator.

26    Wells Fargo Bonus Plan

XI.Appendix C - Country Appendix

A.Australia
Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in Australia.

For all Participants covered by this Country Appendix: 

Section VII, B, c, i 

Paragraph 1. is replaced as follows:

1.retirement from employment and/or refraining from undertaking work or employment, (whether as an employee or otherwise) within the financial services industry for a minimum of one year;

B.Canada
Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in Canada.

Section VII, B, c, i

The following shall be added to Sub-item i: 

Subject to applicable employment or labour standards legislation, a Participant whose employment is terminated without cause in circumstances in which the termination does not qualify as a Good Leaver Event will not be entitled to an Award or payment in lieu thereof for the number of completed months the Participant worked during the Plan Year. 

Other than as expressly required by applicable employment or labour standards legislation, there shall be no Award or payment in lieu thereof paid to a Participant in respect of or attributable to any period of common law or civil law reasonable notice, or any period of contractual termination notice or payment in lieu thereof, to which a Participant might be entitled. 

Section VIII, L,  

The paragraph shall be deleted and replaced with the following: 

To the extent that this Plan or any other document related to this Plan is made available in French and English versions for the Province of Quebec, should there be any difference in interpretation, the French version will prevail.

For Participants in the Province of Quebec, Canada/ Pour les participants de la Province de Québec, Canada: 

The Participant acknowledges that s/he has an option of requesting this document in French but has freely chosen to receive it in its English version. Le(la) participant(e) reconnait qu’il(elle) a eu le choix de 
27    Wells Fargo Bonus Plan

demander ce document, et tout document y afférent, en français, mais qu’il(elle) a librement choisi de les recevoir en leur version anglaise.

C.People’s Republic of China (excluding Hong Kong)
Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are located in the People’s Republic of China.

Section VII, B, c, i

The definition of “Cause” under clause 3.1(a) is replaced in its entirety as follows: 

Cause means the termination of the Participant’s employment in circumstances involving one or more of the following: 

a)the continued failure or refusal of the Participant to perform satisfactorily any duties reasonably required of the Participant, after written notification by the Company or an affiliated company, and the failure of the Employee within thirty (30) calendar days of such notification to correct such breach, failure or refusal (other than failure by reason of incapacity due to physical or mental illness); or 
b)the commission of any fraud, misappropriation, embezzlement or other dishonest act that makes the Participant ineligible for coverage under the Company’s fidelity bond or otherwise makes the Participant ineligible for continued employment; or 
c)any act of gross insubordination or wilful misconduct; or 
d)reporting to work under the influence of alcohol, narcotics or unlawful controlled substances, any violation of the Company’s employment policies or procedures including but not limited to the Code of Ethics and Business Conduct, Information Security Policy or Compliance Program Policy and Risk Management Accountability Policy; or 
e)conviction of a criminal offense, including but not limited to an offense involving a dishonest or fraudulent act, or conduct in violation of law or conduct that would constitute a basis for criminal conviction involving moral turpitude that makes the Participant ineligible for coverage under the Company’s fidelity bond or otherwise makes the Employee ineligible for continued employment; or 
f)violation of any securities or commodities laws, any rules or regulations pursuant to such laws, or the rules and regulations of any securities or commodities exchange or association of which the Company is a member, or violation of any similar law, regulation, ordinance or licensing requirement applicable to employees of financial institutions; or conduct that may reasonably be expected to have an adverse effect on the on the financial interest or business reputation of the Company or an affiliated company; or 
g)serious violation of Company rules or corporate policies; or 
h)any other statutory reasons for a summary dismissal under applicable laws and regulations. 

The foregoing does not represent a complete list of all acts or omissions that may constitute grounds for a termination for Cause. The Plan Administrator will have the sole discretion to determine whether a particular individual’s employment has been terminated for Cause, and its determination will be final and binding upon the Company and that individual. 

28    Wells Fargo Bonus Plan

Section VII, B, c, i

Paragraph 1 is replaced in its entirety as follows:

1.Retirement, solely for purposes of eligibility for consideration of a pro-rata Award under this Plan, means the Participant’s termination of employment for a reason other than Cause.  

Paragraph 2 is replaced in its entirety as follows:

2.Injury, ill-health or disability causing the Participant to be unable to return to work after the Participant’s medical treatment period has already expired.

D.France

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in France.

Section VII, B, c, i                                                                                                                                                                                                  

Paragraph 1. is replaced as follows:

1.retirement from employment and/or refraining from undertaking work or employment, (whether as an employee or otherwise) within the financial services industry for a minimum of one year;

The following paragraph shall be added to this section of the Plan:

5.where the Participant was employed under a fixed-term contract, the expiry of the fixed-term, save if, in the view of Wells Fargo or the affiliated company, s/he has been offered reasonable alternative employment or if their employment is terminated without Cause in circumstances other than the expiry of the fixed-term.

The applicable definition of “Cause” referred to in this section is supplemented as follows: 

g)is guilty of gross misconduct, gross negligence, a material failure of risk management by the Participant or the business unit in which the Participant manages or performs services, or is in material breach of one of the terms of the Participant’s employment, including, but not limited to, engaging in prohibited conduct which is listed as grounds for summary dismissal;
h)is guilty of any material breach of the Company’s Personal Account Dealing Policy, its Code of Ethics and Business Conduct, its Risk Management Accountability Policy, its Anti-Corruption Policy or its Information Security Policy from time to time in force; 
i)infringes any rules or regulations imposed by any regulatory or other external authority or professional body applicable to the Participant’s employment or which regulate the performance of the Participant’s duties;
j)fails, due to fault and/or neglect on the Participant’s part, to possess any qualification or meet any condition or requirement laid down by any applicable regulatory or other external authority or professional body applicable to the Participant’s employment or which regulate the performance of the Participant’s duties by legislation including, but not limited to, a financial regulator or fidelity bond requirements or fails due to fault and/or neglect on the Participant’s part to pass such regulatory exams as prescribed by the Company from time to time;

29    Wells Fargo Bonus Plan

k)acts in a way which in the reasonable view of the Company’s management, may bring the Company into disrepute, whether or not such act is directly related to the affairs of the Company;
l)becomes bankrupt or makes any composition or enters into any deed of arrangement with the Participant’s creditors;
m)engages in any way whatsoever in "Regulated Activities" (being services of a financial or investment nature including but not limited to performing controlled functions) when the Participant is not registered as an approved person by the relevant regulator to do so, or the Participant fails to complete, if necessary, the fit and proper questionnaire for the relevant regulator; or the Participant otherwise adversely affects the Company’s continued authorization to engage in Regulated Activities and/or the Participant’s, if applicable, continued registration as an approved person; or
n)is guilty of any act or omission which would, whether under the Participant’s contract of employment or applicable local law, entitle the Participant’s employing entity to terminate the employment of the Participant summarily. 

Section VIII, L 

The following shall be added:

"Participants who are located in France acknowledge the following in writing:

“You further acknowledge that it is your express wish that the Plan, as well as all documents, notices or summaries relating to the Plan be drawn up in English."

"Vous reconnaissez également que le Régime, ainsi que tous les documents, avis ou résumés s'y rapportant ont été rédigés en langue anglaise à votre demande expresse."

E.Germany
Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in Germany.

Section VII, B, c, i

Paragraph 1. is replaced as follows:

1.retirement from employment and/or refraining from undertaking work or employment, (whether as an employee or otherwise) within the financial services industry for a minimum of one year;

The following paragraph shall be added to this section of the Plan:

5.where the Participant was employed under a fixed-term contract, the expiry of the fixed-term, save if, in the view of Wells Fargo or the affiliated company, s/he has been offered reasonable alternative employment or if their employment is terminated without Cause in circumstances other than the expiry of the fixed-term.

The applicable definition of “Cause” referred to in this section is supplemented as follows: 

30    Wells Fargo Bonus Plan

g)is guilty of gross misconduct, gross negligence, a material failure of risk management by the Participant or the business unit in which the Participant manages or performs services, or is in material breach of one of the terms of the Participant’s employment, including, but not limited to, engaging in prohibited conduct which is listed as grounds for summary dismissal;
h)is guilty of any material breach of the Company’s Personal Account Dealing Policy, its Code of Ethics and Business Conduct, its Risk Management Accountability Policy, its Anti-Corruption Policy or its Information Security Policy from time to time in force; 
i)infringes any rules or regulations imposed by any regulatory or other external authority or professional body applicable to the Participant’s employment or which regulate the performance of the Participant’s duties;
j)fails, due to fault and/or neglect on the Participant’s part, to possess any qualification or meet any condition or requirement laid down by any applicable regulatory or other external authority or professional body applicable to the Participant’s employment or which regulate the performance of the Participant’s duties by legislation including, but not limited to, a financial regulator or fidelity bond requirements or fails due to fault and/or neglect on the Participant’s part to pass such regulatory exams as prescribed by the Company from time to time;
k)acts in a way which in the reasonable view of the Company’s management, may bring the Company into disrepute, whether or not such act is directly related to the affairs of the Company;
l)becomes bankrupt or makes any composition or enters into any deed of arrangement with the Participant’s creditors;
m)engages in any way whatsoever in "Regulated Activities" (being services of a financial or investment nature including but not limited to performing controlled functions) when the Participant is not registered as an approved person by the relevant regulator to do so, or the Participant fails to complete, if necessary, the fit and proper questionnaire for the relevant regulator; or the Participant otherwise adversely affects the Company’s continued authorization to engage in Regulated Activities and/or the Participant’s, if applicable, continued registration as an approved person; or
n)is guilty of any act or omission which would, whether under the Participant’s contract of employment or applicable local law, entitle the Participant’s employing entity to terminate the employment of the Participant summarily. 

F.India
Notwithstanding other language in the Plan to the contrary, the following statement shall apply in interpreting the provisions of the Plan for any Participant employed by an Employer in India:

Any reference to ‘bonus’ or ‘incentive’ or ‘Award’ in the Plan shall be read and construed as meaning an incentive payment that a Participant may be eligible to receive subject to the terms of the Plan. For the avoidance of doubt, a reference to ‘bonus’ or ‘incentive’ or ‘Award’  in the Plan is not indicative of any entitlement or potential entitlement to a profit-based bonus under the Payment of Bonus Act 1965, as amended, or any other applicable laws or regulations.

G.India – Wells Fargo International Solutions Private Limited
Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by Wells Fargo International Solutions Private Limited.

31    Wells Fargo Bonus Plan

Section V, C 

This part is amended as follows: 

The Wells Fargo India Board, Wells Fargo India Managing Director, and the Head of Finance Shared Services Group must approve the aggregate value of Awards for Wells Fargo India.

a.Without limiting the discretion of Wells Fargo or the Plan Administrator, a Participant’s incentive recommendation that is over 150% of target is subject to the Participant’s Award being approved by the Wells Fargo India HR Business Partner Leader, the Head of Finance Shared Services Group and the Plan Administrator. 

b.Notwithstanding the foregoing, Awards to Executive Officers are subject to the approval of the HRC.

H.Ireland 

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in Ireland.

Section VII, B, c, i

Paragraph 1. is replaced as follows:

1.retirement from employment and/or refraining from undertaking work or employment, (whether as an employee or otherwise) within the financial services industry for a minimum of one year;

The following paragraph shall be added to this section of the Plan:

5.where the Participant was employed under a fixed-term contract, the expiry of the fixed-term, save if, in the view of Wells Fargo or the affiliated company, s/he has been offered reasonable alternative employment or if their employment is terminated without Cause in circumstances other than the expiry of the fixed-term.

The applicable definition of “Cause” referred to in this section is supplemented as follows: 

g)is guilty of gross misconduct, gross negligence, a material failure of risk management by the Participant or the business unit in which the Participant manages or performs services, or is in material breach of one of the terms of the Participant’s employment, including, but not limited to, engaging in prohibited conduct which is listed as grounds for summary dismissal;
h)is guilty of any material breach of the Company’s Personal Account Dealing Policy, its Code of Ethics and Business Conduct, its Risk Management Accountability Policy, its Anti-Corruption Policy or its Information Security Policy from time to time in force; 
i)infringes any rules or regulations imposed by any regulatory or other external authority or professional body applicable to the Participant’s employment or which regulate the performance of the Participant’s duties;
j)fails, due to fault and/or neglect on the Participant’s part, to possess any qualification or meet any condition or requirement laid down by any applicable regulatory or other external authority or professional body applicable to the Participant’s employment or which regulate the performance of the Participant’s duties by legislation including, but not limited to, a financial regulator or fidelity bond requirements or fails due to fault and/or neglect on the Participant’s part to pass such regulatory exams as prescribed by the Company from time to time;
k)acts in a way which in the reasonable view of the Company’s management, may bring the Company into disrepute, whether or not such act is directly related to the affairs of the Company;
32    Wells Fargo Bonus Plan

l)becomes bankrupt or makes any composition or enters into any deed of arrangement with the Participant’s creditors;
m)engages in any way whatsoever in "Regulated Activities" (being services of a financial or investment nature including but not limited to performing controlled functions) when the Participant is not registered as an approved person by the relevant regulator to do so, or the Participant fails to complete, if necessary, the fit and proper questionnaire for the relevant regulator; or the Participant otherwise adversely affects the Company’s continued authorization to engage in Regulated Activities and/or the Participant’s, if applicable, continued registration as an approved person; or
n)is guilty of any act or omission which would, whether under the Participant’s contract of employment or applicable local law, entitle the Participant’s employing entity to terminate the employment of the Participant summarily. 

I.Japan

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in Japan.

Section VII, B, c

The applicable definition of “Cause” referred to in this section shall be supplemented as follows: 

g)the Participant neglects or fails (otherwise than by reason of accident or ill health), or refuses to carry out the lawful instructions of the Company, within the scope of the duties required of the Participant; or
h)the Participant commits any act of discrimination or harassment; or
i)the Participant is absent from work without justifiable excuse for a continuous period of fifteen calendar days or more; or
j)the Participant is found to have falsified, omitted or provided inaccurate information to the Company or its vendors during the background check process; or
k)the Participant is declared bankrupt, becomes insolvent or enters into an arrangement with creditors; or
l)there are any other grounds considered reasonable under the Labor Standards Act.

Capitalized terms (other than “Participant”) are defined in the Participant’s employment agreement.

J.Korea

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in Korea.

Section VII, B, c

The applicable definition of “Cause” referred to in this section shall be supplemented as follows: 

33    Wells Fargo Bonus Plan

g)there is a decision on dismissal by the Disciplinary Action Committee for intentional or serious mistakes made on a critical job;
h)the Participant obtains employment by misrepresenting any important fact in the documents submitted or information given to the Company such as name, age, education and employment history, etc. or while Participant misrepresents their position within the Company;
i)the Participant misuses their title or job to pursue their own interest; 
j)the Participant is absent without permission and/or proper communication with the Company for a continuous period of three (3) days or for a total of six (6) days in any one calendar year period;
k)the Participant misuses the funds, machinery, instruments, facilities or any other property of the Company in order to pursue his or her own interest;
l)the Participant engages in other business without approval from the Company ;
m)the Participant possesses, transfers, purchases, sells or uses any controlled substances without obtaining a valid written medical or pharmaceutical prescription;
n)the Participant possesses or uses firearms or other potentially lethal weapons;
o)the Participant engages in any illegal labor dispute activity or other illegal collective action;
p)the Participant alters or falsifies Company documents;
q)the Participant, intentionally or by gross negligence, causes substantial damage to the Company;
r)the Participant deliberately obstructs Wells Fargo’s normal business;
s)the Participant holds a meeting, posts or distributes written materials, or conducts any other similar activities within Wells Fargo premises in breach of the Company’s applicable policies and/or without the Company’s advance permission;
t)the Participant carries out political activities in the work place or other facilities of Wells Fargo;
u)for any other ground permitted under the Labor Standards Act.

Capitalized terms (other than “Participant”) are defined in the Participant’s employment agreement.

K.Luxembourg
Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in Luxembourg.

Section VII, B, c, i

Paragraph 1. is replaced as follows:

1.retirement from employment and/or refraining from undertaking work or employment, (whether as an employee or otherwise) within the financial services industry for a minimum of one year;

L.Netherlands
Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in the Netherlands. 

Section VII, B, c, i

The definition of retirement is amended as follows:

34    Wells Fargo Bonus Plan

Solely for purposes of eligibility for consideration of a pro-rata Award under this Plan, Retirement means the Participant’s termination of employment for a reason other than Cause on or after reaching the state pension age (AOW ̵ gerechtigde leeftijd).  

The following paragraph shall be added to this section of the Plan:

5.where the Participant was employed under a fixed-term contract, the expiry of the fixed-term, save if, in the view of Wells Fargo or the affiliated company, s/he has been offered reasonable alternative employment or if their employment is terminated without Cause in circumstances other than the expiry of the fixed-term.

M.New Zealand 

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in New Zealand.

Section VII, B, c, i

Paragraph 1. is replaced as follows:

1.retirement from employment and/or refraining from undertaking work or employment, (whether as an employee or otherwise) within the financial services industry for a minimum of one year;

N.The Philippines 

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in The Philippines.

Section VII, B, c, i

A “Good Leaver Event” means that the Participant has ceased to be an employee of Wells Fargo or an affiliate by reason of:

1.Retirement (which means the Participant’s termination of employment for a reason other than Just Cause subject to any of the following conditions: (i) age 50 with 10 completed years of service, or (ii) age 60 with 5 completed years of service, or (iii) age 65 with one full year of service. For purposes of this definition, a Participant is credited with one year of service after completion of 6 months of continuous employment with the Company or an affiliated company as determined by the Company); or

2.“Authorized Causes” as defined under the Labor Code of the Philippines, such as,
i.Installation of labor saving devices;
ii.Closure of establishment;
iii.Reduction of personnel due to:
a.Redundancy; or 
b.Retrenchment to prevent losses; and
iv.Termination due to disease.

35    Wells Fargo Bonus Plan

The applicable definition of “Cause” referred to in this section is supplemented as follows: 

Cause refers to “Just Cause” and shall include, but shall not be limited to, the termination of the Participant’s employment due to: 

g)the Participant commits any act of discrimination or harassment; or
h)the Participant engages in any civil wrong or conduct of a criminal nature (including but not limited to assault, theft and fraud) or any other conduct which in the reasonable opinion of the Company may seriously impact on the Participant's ability to perform the duties of the Position or is likely to significantly damage the reputation or business of the Company; or 
i)any other ground considered just cause under the Labor Code or other applicable law.

Capitalized terms (other than “Participant”) are defined in the Participant’s employment agreement.

O.The Philippines – Wells Fargo International Solutions LLC - Philippines

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by Wells Fargo International Solutions, LLC-Philippines.

Section V, C is amended as follows: 

The Wells Fargo Philippines Board, Managing Director, and the Head of Finance Shared Services Group must approve the aggregate value of Awards for Wells Fargo Philippines. 

a.Without limiting the discretion of Wells Fargo or the Plan Administrator, a Participant’s incentive recommendation that is over 150% of target is subject to the Participant’s Award being approved by the Wells Fargo Philippines HR Business Partner Leader, the Head of Finance Shared Services Group and the Plan Administrator. 

b.Notwithstanding the foregoing, Awards to Executive Officers are subject to the approval of the HRC.

P.Sweden 
Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in Sweden.

Section VII, B, c, i

Paragraph 1. is replaced as follows:

1.retirement from employment and/or refraining from undertaking work or employment, (whether as an employee or otherwise) within the financial services industry for a minimum of one year;

Q.Taiwan

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in Taiwan.

36    Wells Fargo Bonus Plan

Section VII, B, c

The applicable definition of “Cause” referred to in this section is supplemented as follows: 

g)misrepresents any fact at the time of signing a labor contract in a manner which might mislead the Company and thus caused the Company to sustain damage therefrom;
h)commits a violent act against or grossly insults the Company or agent of the Company, or a fellow worker;
i)has been sentenced to temporary imprisonment in a final and conclusive judgment, and is not granted a suspended sentence or permitted to commute the sentence to payment of a fine.
j)is, without good cause, absent from work for three consecutive days, or for a total six days in any month;
k)commits an act or omission for which, in the Company’s opinion, the Participant’s employment can be terminated without notice or payment in lieu in accordance with the Labor Standards Act of Taiwan.

Section VII, B, c, i

Paragraph 4 is replaced in its entirety with the following:

4.Layoff (i.e., where the Participant's employment was terminated due to one of the following situations:
a.The Company's businesses are suspended, or have been transferred;
b.The Company's businesses suffer an operating losses, or business contractions;
c.Where force majeure necessitates the suspension of business for more than one month; and / or
d.Where the change of the nature of business necessitates the reduction of workforce and the Participant cannot be reassigned to other suitable positions.)

R.Vietnam

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in Vietnam:

Section VII, B, c, i

Paragraph 1. is replaced as follows

1.Retirement, which means, solely for the purposes of eligibility for consideration of a pro-rata Award under this Plan, the Participant’s termination of employment for a reason other than Cause,.

The applicable definition of “Cause” referred to in this section is supplemented as follows: 

g)the continued failure or refusal of the Participant to perform satisfactorily any duties reasonably required of the Participant, after at least two written notifications by the Company or an affiliated company; or 
h)any violation of the Company’s employment policies or procedures including but not limited to the Code of Ethics and Business Conduct, Information Security Policy or Compliance and Risk Management Accountability Policy, Internal Labor Regulations that are subject to dismissal under the Vietnamese labor law and/or the Company's Internal Labor Regulations; or

37    Wells Fargo Bonus Plan

S.United Arab Emirates (Dubai)

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in the United Arab Emirates. 

Section VII, B, c

The applicable definition of “Cause” referred to in this section is supplemented as follows: 

g)is guilty of gross misconduct, gross negligence, a material failure of risk management by the Participant or the business unit in which the Participant manages or performs services, or is in material breach of one of the terms of the Participant’s employment, including, but not limited to, engaging in prohibited conduct which is listed as grounds for summary dismissal;
h)is guilty of any material breach of the Company’s Personal Account Dealing Policy, its Code of Ethics and Business Conduct, its Risk Management Accountability Policy, its Anti-Corruption Policy or its Information Security Policy from time to time in force; 
i)infringes any rules or regulations imposed by any regulatory or other external authority or professional body applicable to the Participant’s employment or which regulate the performance of the Participant’s duties;
j)fails, due to fault and/or neglect on the Participant’s part, to possess any qualification or meet any condition or requirement laid down by any applicable regulatory or other external authority or professional body applicable to the Participant’s employment or which regulate the performance of the Participant’s duties by legislation including, but not limited to, a financial regulator or fidelity bond requirements or fails due to fault and/or neglect on the Participant’s part to pass such regulatory exams as prescribed by the Company from time to time;
k)acts in a way which in the reasonable view of the Company’s management, may bring the Company into disrepute, whether or not such act is directly related to the affairs of the Company;
l)becomes bankrupt or makes any composition or enters into any deed of arrangement with the Participant’s creditors;
m)engages in any way whatsoever in "Regulated Activities" (being services of a financial or investment nature including but not limited to performing controlled functions) when the Participant is not registered as an approved person by the relevant regulator to do so, or the Participant fails to complete, if necessary, the fit and proper questionnaire for the relevant regulator; or the Participant otherwise adversely affects the Company’s continued authorization to engage in Regulated Activities and/or the Participant’s, if applicable, continued registration as an approved person; or
n)is guilty of any act or omission which would, whether under the Participant’s contract of employment or applicable local law, entitle the Participant’s employing entity to terminate the employment of the Participant summarily. 

T.United Kingdom

Notwithstanding other language in the Plan to the contrary, the following additional terms and provisions shall apply to those Participants who are employed by an Employer in the United Kingdom.

38    Wells Fargo Bonus Plan

Section VII, B, c, i

Paragraph 1. is replaced as follows:

1.retirement from employment and/or refraining from undertaking work or employment, (whether as an employee or otherwise) within the financial services industry for a minimum of one year;

The following paragraph shall be added to this section of the Plan:

5.where the Participant was employed under a fixed-term contract, the expiry of the fixed-term, save if, in the view of Wells Fargo or the affiliated company, s/he has been offered reasonable alternative employment or if their employment is terminated without Cause in circumstances other than the expiry of the fixed-term.

Section VII, B, c

The applicable definition of “Cause” referred to in this section is supplemented as follows: 

g)is guilty of gross misconduct, gross negligence, a material failure of risk management by the Participant or the business unit in which the Participant manages or performs services, or is in material breach of one of the terms of the Participant’s employment, including, but not limited to, engaging in prohibited conduct which is listed as grounds for summary dismissal;
h)is guilty of any material breach of the Company’s Personal Account Dealing Policy, its Code of Ethics and Business Conduct, its Risk Management Accountability Policy, its Anti-Corruption Policy or its Information Security Policy from time to time in force; 
i)infringes any rules or regulations imposed by any regulatory or other external authority or professional body applicable to the Participant’s employment or which regulate the performance of the Participant’s duties;
j)fails, due to fault and/or neglect on the Participant’s part, to possess any qualification or meet any condition or requirement laid down by any applicable regulatory or other external authority or professional body applicable to the Participant’s employment or which regulate the performance of the Participant’s duties by legislation including, but not limited to, a financial regulator or fidelity bond requirements or fails due to fault and/or neglect on the Participant’s part to pass such regulatory exams as prescribed by the Company from time to time;
k)acts in a way which in the reasonable view of the Company’s management, may bring the Company into disrepute, whether or not such act is directly related to the affairs of the Company;
l)becomes bankrupt or makes any composition or enters into any deed of arrangement with the Participant’s creditors;
m)engages in any way whatsoever in "Regulated Activities" (being services of a financial or investment nature including but not limited to performing controlled functions) when the Participant is not registered as an approved person by the relevant regulator to do so, or the Participant fails to complete, if necessary, the fit and proper questionnaire for the relevant regulator; or the Participant otherwise adversely affects the Company’s continued authorization to engage in Regulated Activities and/or the Participant’s, if applicable, continued registration as an approved person; or
n)is guilty of any act or omission which would, whether under the Participant’s contract of employment or applicable local law, entitle the Participant’s employing entity to terminate the employment of the Participant summarily. 

39    Wells Fargo Bonus Plan

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}]]