Document:

Form of Warrant issued to the July 2009 Investors

 Exhibit 4.4 
 THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) NOR UNDER ANY STATE SECURITIES LAW AND MAY NOT BE PLEDGED, SOLD, ASSIGNED OR OTHERWISE TRANSFERRED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE
STATE SECURITIES LAWS PURSUANT TO REGISTRATION OR AN EXEMPTION THEREFROM. 
 WARRANT TO PURCHASE COMMON STOCK 
 OF 
 FNDS3000 CORP 

This is to Certify That, FOR VALUE RECEIVED, [    ] or its assigns (collectively, “Holder”), is entitled to
purchase, any time and from time to time during the Exercise Period (as defined in Section (a) below) and subject to the provisions of this Warrant, from FNDS3000 Corp, a Delaware corporation (the “Company”),
[    ] ([    ]) fully paid, validly issued and nonassessable shares of Common Stock of the Company (the “Common Stock”) at a price equal to twenty cents ($0.20) per share, which price from
time to time may be adjusted in accordance herewith. The number of shares of Common Stock to be received upon exercise of this Warrant and the price to be paid for each share of Common Stock may be adjusted from time to time as hereinafter set
forth. The shares of Common Stock deliverable upon any exercise, and as adjusted from time to time, are hereinafter sometimes referred to as “Warrant Shares” and the exercise price of a share of Common Stock in effect at any time
and as adjusted from time to time is hereinafter sometimes referred to as the “Exercise Price”. 
 (a) EXERCISE OF WARRANT.
This Warrant may be exercised in whole or in part at any time and from time to time beginning on June     , 2009 (the “Issue Date”) through June     , 2011 (the “Exercise
Period”); provided, however, that if at any time the average closing price for shares of the Company’s common stock on the OTC-Bulletin Board in the United States exceeds U.S. $1.00 for a period of ten (10) consecutive trading
days or more, the Company shall have the right, upon written notice to the Holder, to reduce the exercise period of the Warrants to a period of thirty (30) days beginning on the date of the written notice. Notwithstanding the foregoing, the
Company shall not give such notice to the Holder unless the Company will be in a position, upon receipt from the Holder of the exercise price and any other documentation necessary to the exercise of the Warrants, to issue the Shares underlying the
Warrant. This Warrant may be exercised, in whole or in part, by written notice of such exercise (each, an “Exercise Notice”) to the Company at its principal office with the Purchase Form annexed hereto duly executed and accompanied
by payment of the Exercise Price for the number of Warrant Shares specified in such form. As soon as practicable after each such exercise of the warrants, the Company shall issue and deliver to the Holder a certificate or certificates for the
Warrant Shares issuable upon such exercise, registered in the name of the Holder or its designee. Upon receipt by the Company of an Exercise Notice and the appropriate aggregate Exercise Price for the applicable amount of Common Stock at its office
in proper form for exercise, the Holder shall be deemed to be the holder of record of the shares of Common Stock issuable upon such exercise, notwithstanding that the stock transfer books of the Company shall then be closed or that certificates
representing such shares of Common Stock shall not then be physically delivered to the Holder. On or before the first business day following the date on which the Company has received the Exercise Notice and the Exercise Price, the Company shall
transmit by facsimile to Holder (i) an acknowledgment of confirmation of receipt of the Exercise Notice and (ii) a capitalization table showing in detail the names, addresses, ownership, voting or other interests of all outstanding equity
securities of the Company and instruments convertible into Common Stock and any other equity securities of the Company, and the calculation of the number of Warrant Shares to be issued pursuant to this Warrant. 

 (b) RESERVATION OF SHARES. The Company covenants and agrees that all shares of Common Stock which may be
issued upon exercise of this Warrant will, upon issuance, be duly authorized and validly issued, fully paid and nonassessable, and no personal liability will attach to the holder thereof. The Company shall at all times reserve solely for issuance
and/or delivery upon exercise of this Warrant such number of shares of its Common Stock as shall be required for issuance and delivery upon exercise of this Warrant; and if at any time the number of authorized but unissued shares of Common Stock
shall be insufficient to effect the issuance of the Warrant Shares, the Company shall take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of
shares as shall be sufficient for such purpose. 
 (c) FRACTIONAL SHARES. No fractional shares or script representing fractional shares shall
be issued upon the exercise of this Warrant, but rather the number of shares of Common Stock to be issued shall be rounded up to the nearest whole number. 
 (d) EXCHANGE, TRANSFER, ASSIGNMENT OR LOSS OF WARRANT. This Warrant is assignable and is exchangeable, without expense, at the option of the Holder, upon presentation and surrender hereof to the Company for other
warrants of different denominations entitling the holders thereof to purchase in the aggregate the same number of shares of Common Stock purchasable hereunder. Upon surrender of this Warrant to the Company at its principal office, with the
Assignment Form annexed hereto duly executed, the Company shall, without charge, execute and deliver a new Warrant or Warrants in the name of the assignee(s) named in such instrument of assignment and this Warrant shall promptly be canceled. This
Warrant may be divided or combined with other warrants which carry the same rights upon presentation hereof at the principal office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be
issued and signed by the Holder hereof. The term “Warrant” as used herein includes any Warrants into which this Warrant may be divided or exchanged. Upon receipt by the Company of evidence satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant, and (in the case of loss, theft or destruction) receipt by the Company of indemnification reasonably satisfactory to it, and upon surrender and cancellation of this Warrant, if mutilated, the Company will
execute and deliver a new Warrant of like tenor and date. Any such new Warrant executed and delivered shall constitute an additional contractual obligation on the part of the Company, whether or not this Warrant so lost, stolen, destroyed, or
mutilated shall be at any time enforceable by anyone. 
 (e) RIGHTS OF THE HOLDER. The Holder shall not, by virtue hereof, be entitled to any
rights of a stockholder in the Company in excess of those already vested in Holder as of the date hereof, either at law or equity. 
 (f)
ANTI-DILUTION PROVISIONS. The number of shares of Common Stock purchasable upon the exercise of this Warrant shall be subject to adjustment from time to time thereafter upon the happening of certain events as follows: 
 (i) Dividends, Splits, Combinations, Reclassifications. In the event the Company shall hereafter (A) pay a stock dividend or make a stock
distribution of shares of Common Stock with respect to the Common Stock, (B) subdivide its outstanding Common Stock into a greater amount of Common Stock, (C) combine its outstanding Common Stock into a smaller amount of Common Stock, or
(D) issue by reclassification of its Common Stock any other security of the Company, the Exercise Price in effect immediately prior to such action shall be adjusted so that Holder shall be entitled to receive the amount of Common Stock or other
capital stock of the Company it would have owned immediately following such action had this Warrant or any remaining portion hereof been converted in full immediately prior thereto. All adjustments made pursuant to this Section (f)(i) shall become
effective immediately after the record date in the case of a dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification. If, as a 

 
result of an adjustment made pursuant to this Section (f)(i), Holder shall become entitled to receive the Warrant Shares and other securities of the Company,
the Board of Directors of the Company shall reasonably determine the allocation of the adjusted Exercise Price between or among the Warrant Shares and such other securities. If the amount of any single adjustment of the Exercise Price required
pursuant to this Section (f)(i) would be less than one cent ($.01) at the time such adjustment is otherwise so required to be made, such amount shall be carried forward and adjustment with respect thereto made at the time of and together with any
subsequent adjustment which, together with such amount and any other amount or amounts so carried forward, shall aggregate at least one cent ($.01) when the Exercise Price is subsequently adjusted. 
 (ii) Sale of Shares of Common Stock Below Exercise Price. If at any time or from time to time after the date this Warrant is issued, the Company
issues or sells, or is deemed by the express provisions of this Section (f)(ii) to have issued or sold, Additional Shares of Common Stock (as hereinafter defined), other than as a dividend or other distribution on any class of stock as provided in
Section (f)(i) above, and other than a subdivision or combination of shares of Common Stock as provided in Section (f)(i) above, for an Effective Price (as hereinafter defined) less than the Exercise Price (subject to adjustment for any events after
the Issue Date described in Section (f)(i), then the then existing Exercise Price shall be reduced, as of the opening of business on the date of such issue or sale, to a price equal to the Effective Price. 
 (A) Determination of Consideration. For the purpose of making any adjustment required under this Section (f)(ii), the consideration
received by the Company for any issue or sale of securities shall (1) to the extent it consists of cash, be the amount of cash received by the Company therefor before deducting any discounts, commissions or other expenses allowed, paid or
incurred by the Company for any underwriting or otherwise in connection thereof, (2) to the extent it consists of property other than cash, be computed at the fair value of that property as determined in good faith by the Board of Directors,
and (3) if Additional Shares of Common Stock, Convertible Securities (as hereinafter defined) or rights or options to purchase either Additional Shares of Common Stock or Convertible Securities are issued or sold together with other stock or
securities or other assets of the Company for a consideration which covers both, be computed as the portion of the consideration so received that may be reasonably determined in good faith by the Board of Directors to be allocable to such Additional
Shares of Common Stock, Convertible Securities or rights or options. 
 (B) Treatment of Convertible Securities. For
the purpose of the adjustment required under this Section (f)(ii), if the Company issues or sells any rights or options for the purchase of, or stock or other securities convertible into, Additional Shares of Common Stock (such convertible stock or
securities being herein referred to as “Convertible Securities”) and if the Effective Price of such Additional Shares of Common Stock is less than the Exercise Price (subject to adjustment as aforesaid), in each case the Company
shall be deemed to have issued at the time of the issuance of such rights or options or Convertible Securities the maximum number of Additional Shares of Common Stock issuable upon exercise or conversion thereof and to have received as consideration
for the issuance of such shares an amount equal to the total amount of the consideration, if any, received by the Company for the issuance of such rights or options or Convertible Securities, plus, in the case of such rights or options, the amounts
of consideration, if any, payable to the Company upon the exercise of such rights or options, plus, in the case of Convertible Securities, the amounts of consideration, if any, payable to the Company (other than by cancellation of liabilities or
obligations evidenced by such Convertible Securities) upon the conversion thereof; provided that if, in the case of Convertible Securities, the amounts of such consideration cannot be ascertained but are a function of anti-dilution or similar
protective clauses, the Company shall be deemed to have received the amounts of consideration without reference to such clauses; and provided further that if the amount of consideration payable to the 

 
Company upon the exercise or conversion of rights, options or Convertible Securities is reduced over time or on the occurrence or non-occurrence of specified
events other than by reason of anti-dilution adjustments, the Effective Price shall be recalculated using the figure to which such amount of consideration is reduced; and provided further that if the amount of consideration payable to the Company
upon the exercise or conversion of such rights, options or Convertible Securities is subsequently increased, the Effective Price shall be again recalculated using the increased amount of consideration payable to the Company upon the exercise or
conversion of such rights, options or Convertible Securities. No further adjustment of the Exercise Price, as adjusted upon the issuance of such rights, options or Convertible Securities, shall be made as a result of the actual issuance of
Additional Shares of Common Stock on the exercise of any such rights or options or the conversion of any such Convertible Securities. If any such rights or options or the conversion privilege represented by any such Convertible Securities shall
expire without having been exercised, the Exercise Price as adjusted upon the issuance of such rights, options or Convertible Securities shall be readjusted to the Exercise Price which would have been in effect had an adjustment been made on the
basis that the only Additional Shares of Common Stock so issued were the Additional Shares of Common Stock, if any, actually issued or sold on the exercise of such rights or options or rights of conversion of such Convertible Securities, and such
Additional Shares of Common Stock, if any, were issued or sold for the consideration actually received by the Company upon such exercise, plus the consideration, if any, actually received by the Company for the granting of all such rights or
options, whether or not exercised, plus the consideration received for issuing or selling the Convertible Securities actually converted, plus the consideration, if any, actually received by the Company (other than by cancellation of liabilities or
obligations evidenced by such Convertible Securities) on the conversion of such Convertible Securities, provided that such readjustment shall not apply to prior exercises of this Warrant. 
 (C) Excluded Issuances. For purposes of this Warrant, the term “Additional Shares of Common Stock” shall mean all
shares of Common Stock issued by the Company or deemed to be issued pursuant to this Section (f)(i), whether or not subsequently reacquired or retired by the Company other than (1) shares of Common Stock issued upon exercise of this Warrant;
(2) shares of Common Stock issued pursuant to the exercise of options, warrants or convertible securities outstanding as of the date this Warrant is issued and (3) shares of Common Stock issued as of the date hereof (or upon conversion of
warrants issued as of the date hereof) to Sherington Holdings, LLC upon closing of the Sherington Funding or upon exercise of common stock purchase warrants by Sherington. 
 (D) Effective Price. For purposes of this Warrant, the term “Effective Price” of Additional Shares of Common Stock
shall mean the quotient determined by dividing the total number of Additional Shares of Common Stock issued or sold, or deemed to have been issued or sold by the Company under this Section (f)(i), into the aggregate consideration received, or deemed
to have been received by the Company for such issue under this Section (f)(i), for such Additional Shares of Common Stock. 
 (iii) Whenever
the number of Warrant Shares are adjusted, as herein provided, the Company shall promptly, but no later than twenty (20) days after the consummation of the event giving rise to such adjustment, cause a notice setting forth the adjusted Warrant
Shares issuable upon exercise of each Warrant and information describing the transactions giving rise to such adjustments to be mailed by certified mail to the Holder. Each such notice shall also be made available at all reasonable times for
inspection by any Holder of a Warrant executed and delivered pursuant to Section (a). The Company may retain a firm of independent certified public accountants selected by the Board of Directors (who may be the regular accountants employed by the
Company) to make any computation required by this Section (f), and a certificate signed by such firm shall be conclusive evidence of the correctness of such adjustment. 

 (iv) In the event that at any time, as a result of an adjustment made pursuant to this Section (f), the
Holder of this Warrant thereafter shall become entitled to receive any shares of the Company, other than Common Stock, thereafter the number of such other shares so receivable upon exercise of this Warrant shall be subject to adjustment from time to
time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Common Stock contained in this Section (f). 
 (v) Irrespective of any adjustments made in the number of Warrant Shares issuable upon the exercise of this Warrant, Warrants theretofore issued may continue to express the same price and number and kind of shares as are stated in the
similar Warrants initially issuable pursuant to this Agreement. 
 (g) NOTICES TO WARRANT HOLDERS. So long as this Warrant shall be
outstanding, (i) if the Company shall pay any dividend or make any distribution upon the Common Stock or (ii) if the Company shall offer to the holders of Common Stock for subscription or purchase by them any share of any class or any
other rights or (iii) if any capital reorganization of the Company, reclassification of the capital stock of the Company, consolidation or merger of the Company with or into another corporation, sale, lease or transfer of all or substantially
all of the property and assets of the Company to another entity, or voluntary or involuntary dissolution, liquidation or winding up of the Company shall be effected, then in any such case, the Company shall cause to be mailed by certified mail to
the Holder, at least fifteen (15) days prior the date specified in (x) or (y) below, as the case may be, a notice containing a brief description of the proposed action and stating the date on which (x) a record is to be taken for
the purpose of such dividend, distribution or rights, or (y) such reclassification, reorganization, consolidation, merger, conveyance, lease, dissolution, liquidation or winding up is to take place and the date, if any is to be fixed, as of
which the holders of Common Stock or other securities shall receive cash or other property deliverable upon such reclassification , reorganization, consolidation, merger, conveyance, dissolution, liquidation or winding up. 
 (h) RECLASSIFICATION, REORGANIZATION OR MERGER. In case of any reclassification, capital reorganization or other similar change of the outstanding shares
of capital stock of the Company, consolidation or merger of the Company with or into another corporation (other than a merger with a subsidiary in which merger the Company is the continuing corporation and which does not result in any
reclassification, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or in case of any sale, lease or conveyance to another corporation of all or substantially all the
assets of the Company resulting in any distribution to the Company’s stockholders, the Company shall cause effective provisions to be made so that the Holder shall have the right thereafter by exercising this Warrant at any time prior to the
expiration of the Warrant, to purchase the kind and amount of shares of stock, and other securities and property receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale or conveyance by a holder of
the number of shares of Common Stock which might have been purchased upon exercise of this Warrant immediately prior to such reclassification, change, consolidation, merger, sale or conveyance. Any such provision shall include provision for
adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section (h) shall similarly apply to successive reclassifications, capital reorganizations
and changes of shares of the Company’s capital stock and to successive consolidations, mergers, sales or conveyances. In the event that in connection with any such capital reorganization or reclassification, consolidation, merger, sale or
conveyance, additional shares of Common Stock shall be issued in exchange, conversion, substitution or payment, in whole or in part, for a security of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock
covered by the provisions of Section (f)(i) hereof. 

 (i) [Intentionally Omitted] 
 (j) NOTICES. All notices or other communications which are required or permitted hereunder shall be in writing and sufficient if delivered personally, by
facsimile or sent by overnight express or by registered or certified mail, postage prepaid, addressed as follows: 
  

			
	If to the Company:	 	 FNDS300 Corp
 818 A1A North, Suite 201
 Ponte Vedra Beach, FL 32082

		 	 Attention: Joseph F. McGuire
 Telephone: 904-273-2702

 Facsimile: 904-273-7231

		
	With a copy to:	 	Law Offices of Stephen M. Fleming PLLC
		 	49 Front Street, Suite 206
		 	Rockville Centre, New York 11570
		 	Attention: Stephen M. Fleming
		 	 Telephone: 516-833-5034
 Facsimile:
516-977-1209

		
	If to Holder:	 	[to the address set forth on the Agreement]

 Each party shall provide notice to the other party of any change in address. 
 (l) INVESTMENT. The Holder hereof covenants and agrees that this Warrant has been taken for investment and for its own account and not with a view toward
resale or distribution within the meaning of the Securities Act of 1933, as amended or any state securities law. Furthermore, such Holder acknowledges that the certificate(s) representing the shares of Common Stock issuable upon exercise of this
Warrant will bear an appropriate legend to this effect. 
 (m) NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company
will not, by amendment of its Certificate of Incorporation, Bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action, avoid or
seek to avoid the observance or performance of any of the terms of this Warrant. 
 (Signatures on the following page) 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be signed in its name by its duly
authorized officers effective as of the 1st of July, 2009. 
  

			
	COMPANY:
	
	FNDS3000 CORP
		
	By:	 	 /s/ Joseph F. McGuire

	Name:	 	Joseph F. McGuire
	Title:	 	Chief Financial Officer

  

			
	Attest:
		
	By:	 	 /s/ Lynn M. Miller

	Name:	 	Lynn M. Miller
	Title:	 	Controller

 PURCHASE FORM 
 Dated                          
 The undersigned hereby irrevocably elects to exercise the within Warrant to the extent of purchasing
                     shares of Common Stock and hereby makes payment of
                     in payment of the actual price thereof. 
  
  
 INSTRUCTIONS FOR REGISTRATION OF STOCK 
  

			
	Name	 	  

	(Please typewrite or print in block letters)
		
	Address	 	  

		
	Signature	 	  

 WARRANT EXCHANGE 
 The undersigned, pursuant to the Warrant Exchange provisions of the foregoing Warrant, hereby elects to exchange its Warrant for
                     shares of Common Stock. 
 Date:
                         
  

	
	  

	Print Name
	
	  

	Address
	
	  

	Signature

 ASSIGNMENT FORM 
 FOR VALUE RECEIVED,                          hereby sells, assigns and transfers unto 

 

			
	Name	 	  

	(Please typewrite or print in block letters)
		
	Address	 	  

 the right to purchase Common Stock represented by this Warrant to the extent of
                     shares as to which such right is exercisable and does hereby irrevocably constitute and appoint
                     Attorney, to transfer the same on the books of the Company with full power of substitution in the premises. 
  

			
	Date	 	  

		
	SignatureNotes Linked to the S&P 500 Index due July 8, 2011

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

			
	CUSIP NO. 949746 PQ8	  	FACE AMOUNT: $                    
	REGISTERED NO.         	  	

 WELLS FARGO & COMPANY 
 Notes Linked to the S&P 500® Index 
 due July 8, 2011 
 WELLS FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, an amount equal to the Maturity Payment
Amount (as defined below), in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, on the Stated Maturity Date. The “Initial Stated Maturity Date”
shall be July 8, 2011. If no Market Disruption Event (as defined below) occurs or is continuing on the scheduled Valuation Date (as defined below), the Initial Stated Maturity Date will be the “Stated Maturity Date.” If a
Market Disruption Event occurs or is continuing on the scheduled Valuation Date, the “Stated Maturity Date” shall be the later of (i) three Business Days (as defined below) after the postponed Valuation Date and (ii) the
Initial Stated Maturity Date. This Security shall not bear any interest. 
 Any payments on this Security at Maturity will be made against
presentation of this Security at the office or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota and at any other office or agency maintained by the Company for such purpose. 

 Determination of Maturity Payment Amount 
 “Maturity Payment Amount” shall mean, for each $1,000 Face Amount of this Security: 
  

	 	•	 	 if the Final Index Level is greater than the Initial Index Level, $1,000 plus the lesser of (A) the Additional Amount and (B) the Capped Return Amount;

  

	 	•	 	 if the Final Index Level is equal to the Initial Index Level or is at least 90% of the Initial Index Level, $1,000; and 

  

	 	•	 	 if the Final Index Level is less than 90% of the Initial Index Level, $1,000 minus the product of 

  

	 	•	 	 $1,000; and 

  

	 	•	 	 Initial Index Level – Final Index Level - .10 

     Initial Index Level 
 “Additional Amount” shall mean, for each
$1,000 Face Amount of this Security, an amount equal to the product of: 
  

	 	•	 	 $1,000; 

  

	 	•	 	 2.0; and 

  

	 	•	 	 Final Index Level – Initial Index Level 

     Initial Index Level 
 “Capped Return Amount” is $310 per $1,000
Face Amount of this Security. 
 The “Initial Index Level” is 919.32, the Closing Level of the Index on the date this
Security was priced for initial sale to the public. 
 The “Final Index Level” shall be equal to Closing Level of the Index
on the Valuation Date. 
 “Index” shall mean the S&P 500 Index. 
 “Business Day” shall mean a day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking
institutions are authorized or required by law or regulation to close in New York, New York or Minneapolis, Minnesota. 
 “Calculation Agency Agreement” shall mean the Calculation Agency Agreement dated as of July 8, 2009 between the Company and the Calculation Agent, as amended from time to time. 
 “Calculation Agent” shall mean the Person that has entered into the Calculation Agency Agreement with the Company providing for, among
other things, the determination of the Final Index Level, the Additional Amount, if any, and the Maturity Payment Amount, which term shall, unless the context otherwise requires, include its successors under such Calculation 

  

 2 

 
Agency Agreement. The initial Calculation Agent shall be Wells Fargo Securities, LLC. Pursuant to the Calculation Agency Agreement, the Company may appoint a
different Calculation Agent from time to time after the initial issuance of the Securities of this series without the consent of the Holders of the Securities of this series and without notifying the Holders of the Securities of this series.

 The “Closing Level” of the Index on any Trading Day shall mean the closing level of the Index as reported by the Index
Sponsor (or of any successor index, as reported by the index sponsor of that successor index) on such Trading Day or as determined by the Calculation Agent as described in “—Discontinuance of the Index; Alteration Of Method Of
Calculation.” 
 “Face Amount” shall mean, when used with respect to any Security or Securities of this series, the
amount set forth on the face of such Security or Securities as its or their “Face Amount.” 
 “Index Sponsor”
shall mean Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. 
 A “Market Disruption Event”
with respect to the Index will occur on any day if the Calculation Agent determines, in its sole discretion, any of the following: 
  

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

  

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

  

	 	•	 	 Any event, other than an early closure, that materially disrupts or impairs the ability of market participants in general to effect transactions in, or obtain
market values for, the securities that then comprise 20% or more of the Index or any successor index, at any time during the one-hour period preceding the close of trading on that day. 

  

 3 

	 	•	 	 Any event, other than an early closure, that materially disrupts or impairs the ability of market participants in general to effect transactions in, or obtain
market values for, the futures or options contracts relating to the Index or any successor index on the primary exchange or quotation system on which those futures or options contracts are traded, at any time during the one-hour period preceding the
close of trading on that day. 

  

	 	•	 	 The closure of an exchange, trading system or market on which the securities that then comprise 20% or more of the Index or any successor index are traded or which
futures or options contracts relating to the Index or any successor index are traded prior to its scheduled closing time unless the earlier closing time is announced by such exchange, trading system or market at least one hour prior to the earlier
of (1) the actual closing time for the regular trading session of the exchange, trading system or market and (2) the submission deadline for orders to be entered in the exchange, trading system or market for execution on such trading day.

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

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

  

	 	•	 	 “close of trading” means 4 p.m, New York City time. 

 A “Trading Day” is a day on which The New York Stock Exchange, The Nasdaq Stock Market and the American Stock Exchange, or any successor thereto, are open for trading during their regular trading
sessions. 
 The “Valuation Date” shall be the last Trading Day of June 2011. If the Calculation Agent determines that a
Market Disruption Event has occurred or is continuing on the scheduled Valuation Date, the Valuation Date will be postponed to the first succeeding Trading Day on which there is not a Market Disruption Event. If the Valuation Date has been postponed
for eight Business Days after the scheduled Valuation Date and such eighth Business Day is not a Trading Day, or if a Market Disruption Event occurs or is continuing on such eighth Business Day, the Calculation Agent will determine the Closing Level
of the Index on such eighth Business Day in accordance with the formula for and method of calculating the Closing Level of the Index last in effect prior to commencement of the Market Disruption Event, using the closing price (or, if trading in the
relevant securities has been materially suspended or materially limited, its good faith estimate of the closing price that would have prevailed but for such suspension or limitation or non-Trading Day) on such date of each security most recently
included in the Index. Any such postponement of the date that would otherwise be the scheduled Valuation Date will cause the Stated Maturity Date to be postponed until three Business Days after the Valuation Date if such third Business Day is after
the Initial Stated Maturity Date. 
  

 4 

 Discontinuance Of The Index; Alteration Of Method Of Calculation 
 If the Index Sponsor discontinues publication of the Index and the Index Sponsor or another entity publishes a successor or substitute index that the
Calculation Agent determines, in its sole discretion, to be comparable to the discontinued Index, then any subsequent Closing Level of the Index will be determined by reference to the level of such successor index or substitute index (in any such
case, referred to herein as a “successor index”) at 4:00 p.m., New York City time, on the date that any such subsequent Closing Level of the Index is to be determined. 
 Upon any selection by the Calculation Agent of a successor index, the Company will promptly give notice to the Holders of the Securities of this series.

 If the Index Sponsor discontinues publication of the Index prior to, and such discontinuance is continuing on, the date that any Closing
Level of the Index is to be determined and the Calculation Agent determines that no successor index is available at such time, then, on such date, the Calculation Agent will determine the Closing Level to be used in computing the amount payable at
stated maturity. Such Closing Level will be computed by the Calculation Agent in accordance with the formula for and method of calculating the Index last in effect prior to such discontinuance, using the closing price (or, if trading in the relevant
security has been materially suspended or materially limited, its good faith estimate of the closing price that would have prevailed but for such suspension or limitation) at the close of the principal trading session on such date of each security
most recently comprising the Index on the primary organized exchange or trading system. As used herein, “closing price” means, with respect to any security on any date, the last reported sales price regular way on such date or, in
case no such reported sale takes place on such date, the average of the reported closing bid and asked prices regular way on such date, in either case on the primary organized exchange or trading system on which such security is then listed or
admitted to trading. 
 If a successor index is selected or the Calculation Agent calculates a Closing Level as a substitute for the Index,
such successor index or Closing Level will be used as a substitute for the Index for all purposes, including for purposes of determining whether a Market Disruption Event exists. 
 If at any time the method of calculating the Index or a successor index, or the Closing Level thereof, is changed in a material respect, or if the Index
or a successor index is in any other way modified so that such Index does not, in the opinion of the Calculation Agent, fairly represent the value of the Index or such successor index had such changes or modifications not been made, then the
Calculation Agent will, at the close of business in New York City on the date that any Closing Level is to be determined, make such calculations and adjustments as, in the good faith judgment of the Calculation Agent, may be necessary in order to
arrive at a value of a stock index comparable to the Index or such successor index, as the case may be, as if such changes or modifications had not been made. The Calculation Agent will calculate the Closing Level of the Index and the amount payable
at stated maturity with reference to the Index or such successor index, as adjusted. Accordingly, if the method of calculating the Index or a successor index is modified so that the level of such index is a fraction of what it would have been if it
had 

  

 5 

 
not been modified (for example, due to a split in the index), then the Calculation Agent will adjust such index in order to arrive at a level of the Index or
such successor index as if it had not been modified (for example, as if such split had not occurred). 
 Calculation Agent 
 The Calculation Agent will determine the Maturity Payment Amount. In addition, the Calculation Agent will (i) determine if adjustments are required
to the Closing Level of the Index under the circumstances described in this Security, (ii) if publication of the Index is discontinued, select a successor index or, if no successor index is available, determine the Closing Level under the
circumstances described in this Security and (iii) determine whether a Market Disruption Event has occurred. 
 The Company covenants
that, so long as any of the Securities of this series are Outstanding, there shall at all times be a Calculation Agent (which shall be a broker-dealer, bank or other financial institution) with respect to the Securities of this series. 

All determinations made by the Calculation Agent with respect to the Securities of this series will be at the sole discretion of the Calculation Agent
and, in the absence of manifest error, will be conclusive for all purposes and binding on the Company and the Holders of the Securities of this series. All percentages and other amounts resulting from any calculation with respect to the Securities
of this series will be rounded at the Calculation Agent’s discretion. 
 Reference is hereby made to the further provisions of this
Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature or its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature,
this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 [The remainder of this
page has been left intentionally blank] 
  

 6 

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

 DATED: July 8, 2009 
  

			
	WELLS FARGO & COMPANY
		
	By:	 	  

		 	Paul R. Ackerman
		 	Its: Executive Vice President and Treasurer

 [SEAL] 
  

			
	Attest:	 	  

		 	Kerri L. Klemz
		 	Its: Assistant Secretary

  

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

	
	 CITIBANK, N.A.,
as Trustee

		
	By:	 	  

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

		
	By:	 	  

		 	Authorized Signature

  

 7 

 [Reverse of Note] 
 WELLS FARGO & COMPANY 
 Notes Linked to the S&P 500® Index 
 due
July 8, 2011 
 This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999, as amended or supplemented from time to time (herein called the “Indenture”), between the Company and
Citibank, N.A., as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is
one of the series designated on the face hereof, limited in aggregate Face Amount to $            ; provided, however, that the Company may, so long as no Event of Default has
occurred and is continuing, without the consent of the Holders of the Securities of this series, issue additional Securities with the same terms as the Securities of this series, and such additional Securities shall be considered part of the same
series under the Indenture as the Securities of this series. 
 The Securities of this series are not subject to redemption at the option of
the Company or repayment at the option of the Holder hereof prior to July 8, 2011. The Securities will not be entitled to any sinking fund. 
 The Company agrees, to the extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of interest against a Holder of Securities of this series. 
 If an Event of Default, as defined in the Indenture, with respect to Securities of this series shall occur and be continuing, the Maturity Payment Amount
(calculated as set forth in the next sentence) of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. The amount payable to the Holder hereof upon any acceleration permitted
under the Indenture will be equal to the Maturity Payment Amount hereof calculated as though the date of acceleration was the Valuation Date; provided, however, if such date is not a Trading Day or if a Market Disruption Event has occurred or is
continuing on that day, the next Trading Day on which there is not a Market Disruption Event will be deemed to be the Valuation Date. Upon payment of the amount so declared due and payable, all of the Company’s obligations in respect of payment
of the Maturity Payment Amount shall terminate. The Securities of this series will not bear a default rate of interest after the occurrence of an Event of Default or an acceleration under the Indenture. 
 The Company agrees, and by acceptance of a beneficial ownership interest in this Security each beneficial owner of this Security will be deemed to have
agreed, for United States federal income tax purposes to characterize and treat this Security as a pre-paid derivative contract in respect of the Index. 
  

 8 

 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in
principal amount of the Securities at the time Outstanding of all series to be affected, acting together. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of all series at the time
Outstanding affected by certain provisions of the Indenture, acting together, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain past defaults under the
Indenture and their consequences may be waived under the Indenture by the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series. Solely for the
purpose of determining whether any consent, waiver, notice or other action or Act to be taken or given by the Holders of Securities pursuant to the Indenture has been given or taken by the Holders of Outstanding Securities in the requisite aggregate
principal amount, the principal amount of this Security will be deemed to be equal to the amount set forth on the face hereof as the “Face Amount” hereof. Any such consent or waiver by the Holder of this Security shall be conclusive and
binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this
Security. 
 Section 403 and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the
Indenture, relating to defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth therein,
shall not apply to this Security. The remaining provisions of Section 401 of the Indenture shall apply to this Security. 
 Article
Sixteen of the Indenture shall not apply to this Security. 
 Upon due presentment for registration of transfer of this Security at the
office or agency of the Company in the City of Minneapolis, Minnesota, a new Security or Securities of this series in authorized denominations for an equal aggregate Face Amount will be issued to the transferee in exchange herefor, as provided in
the Indenture and subject to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental charge imposed in connection therewith. 
 This Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the Company that it is unwilling or
unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed within 90 days
after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form and notifies the Trustee
thereof or (z) an Event of Default with respect to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for definitive Securities in
registered form, having the same terms and of authorized denominations aggregating a like amount. 
  

 9 

 This Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary
or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor of the Depositary or a nominee of such successor. Except as provided above, owners of beneficial
interests in this Security will not be entitled to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under the Indenture. 
 No reference herein to the Indenture and no provision of the Indenture shall alter or impair the obligation of the Company, which is absolute and
unconditional, to pay the Maturity Payment Amount at the times and place, and in the coin or currency, herein prescribed, except as otherwise provided in this Security. 
 Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner
hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 No recourse shall be had for the payment of the Maturity Payment Amount, or for any claim based on this Security, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture
supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of
any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released. 
 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture unless otherwise defined in
this Security. 
 This Security shall be governed by and construed in accordance with the laws of the State of New York. 
  

 10 

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

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

  

							
	UNIF GIFT MIN ACT —	  	  
	  	Custodian	 	  

		  	(Cust)	  		 	(Minor)

  

	
	Under Uniform Gifts to Minors Act
	
	  

	(State)

 Additional abbreviations may also be used though not in the above list. 
 FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 
  

	
	Please Insert Social Security or
Other Identifying Number of Assignee
	
	  

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

 11 

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

Dated:
                                         
                        

	
	  

	
	  

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

 12

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