Document:

Exhibit 10.3

 

ASSET PURCHASE AGREEMENT

 

 

This Asset Purchase
Agreement (the "Agreement") is entered into as of August 30, 2017, between Clinton L. Stokes, an individual, located
at 5293 Via Quinto, Newbury Park, CA 91320 (hereinafter referred to as "SELLER"), and, Ameritek Ventures, a Nevada Corporation,
located at 1980 Festival Plaza Drive, #530, Las Vegas, NV 89135 (hereinafter referred to as "BUYER").

 

WHEREAS, SELLER
currently owns certain Fiber Optic Assets ("FOA") as described in Exhibit “A” hereto;

 

WHEREAS, SELLER
desires to sell, and BUYER desires to buy certain assets known as FOA;

 

NOW THEREFORE, in
consideration of the mutual agreements, representations and warranties in this Agreement, the parties agree as follows:

 

1. ASSETS PURCHASED. Subject to all
other terms and conditions set forth herein, on the Closing Date, SELLER shall sell, convey, transfer and assign to BUYER and BUYER
shall purchase from SELLER the Fiber Optic Assets which consist of all of SELLER’s rights, and title of the assets described
in Exhibit “A” including all appurtenant contracts, rights, privileges and agreements associated with the ownership
of these assets.

 

2. PURCHASE PRICE. The purchase price
for the Fiber Optic Assets shall be: ONE HUNDRED THOUSAND DOLLARS ($100,000 U.S.D.) and 19,770,000 shares of Ameritek Ventures'
unregistered restricted common stock (OTC Markets: ATVK) which shall be issuable upon the closing;

 

3. SELLER' REPRESENTATIONS AND WARRANTIES.
SELLER represents and warrants to

BUYER as follows:

 

A. SELLER is an
individual with all the requisite power and authority to enter into this Agreement and perform its obligations hereunder.

 

B. The execution,
delivery, and performance of this Agreement has been authorized and approved by SELLER, and this Agreement constitutes a valid
and binding Agreement of SELLER in accordance with its terms.

 

C. SELLER has not
employed any broker or finder in connection with the transaction contemplated by this Agreement and has taken no action that would
give rise to a valid claim against any party for a brokerage commission, finder's fee, or other like payment.

 

D. SELLER holds
good and marketable title to the Assets, described in Exhibit “A”, free and clear of all restrictions, liens and encumbrances.

 

E. SELLER has not
employed any broker or finder in connection with the transactions contemplated by this Agreement, or taken action that would give
rise to a valid claim against any party for a brokerage commission, finder's fee, or other like payment.

 

F. The execution
and delivery of this Agreement by SELLER and the consummation of the contemplated transactions, will not result in the creation
or imposition of any valid lien, charge, or encumbrance on any of the Assets, and will not require the authorization, consent,
or approval of any third party, including any governmental subdivision or regulatory agency.

 

G. SELLER has no
knowledge of any claim, litigation, proceeding, or investigation pending or threatened against SELLER or its Assets that might
result in any material adverse change in the business or condition of the Assets being conveyed under this Agreement.

 

H. None of the representations
or warranties of SELLER contain or will contain any untrue statement of a material fact or omit or will omit or misstate a material
fact necessary in order to make statements in this Agreement not misleading. SELLER knows of no fact that has resulted, or will
result in a material change in the business, operations, or assets of SELLER.

 

4. REPRESENTATIONS OF BUYER. BUYER represents
and warrants as follows:

 

A. BUYER is a corporation
duly organized, validly existing, and in good standing under the laws of the State of Nevada. BUYER has all requisite corporate
power and authority to enter into this Agreement and perform its obligations hereunder.

 

B. The execution,
delivery, and performance of this Agreement has been duly authorized and approved by the Board of Directors of BUYER, and this
Agreement constitutes a valid and binding Agreement of BUYER in accordance with its terms.

 

C. BUYER has not
employed any broker or finder in connection with the transaction contemplated by this Agreement and has taken no action that would
give rise to a valid claim against any party for a brokerage commission, finder's fee, or other like payment.

 

D. None of the representations
or warranties of BUYER contain or will contain any untrue statement of a material fact or omit or will omit or misstate a material
fact necessary in order to make the statements contained herein not misleading.

 

6. COVENANTS OF SELLER. SELLER agrees
that between the date of this Agreement and the Closing Date, SELLER will:

 

A. Continue to operate
its business in the usual and ordinary course and in substantial conformity with all applicable laws, ordinances, regulations,
rules, or orders, and will use its best efforts to preserve the Fiber Optic Assets.

 

B. Not assign, sell,
lease, or otherwise transfer or dispose of the Assets, whether now owned or hereafter acquired, except in the normal and ordinary
course of business and in connection with its normal operation.

 

C. Maintain all
of the Assets in their present condition, reasonable wear and use and ordinary usage excepted.

 

D. SELLER will use
its best efforts to effectuate the transactions contemplated by this Agreement and to fulfill all the conditions of the obligations
of SELLER under this Agreement, and will do all acts and things as may be required to carry out their respective obligations under
this Agreement and to consummate and complete this Agreement.

 

 

7. COVENANTS OF BUYER.

 

A. BUYER will use
its best efforts to effectuate the transactions contemplated by this Agreement and to fulfill all the conditions of BUYER's obligations
under this Agreement, and shall do all acts and things as may be required to carry out BUYER's obligations and to consummate this
Agreement.

 

B. If for any reason
the sale of Assets is not closed, BUYER will not disclose to third parties any confidential information received from SELLER in
the course of investigating, negotiating, and performing the transactions contemplated by this Agreement.

 

8. CONDITIONS PRECEDENT TO BUYER'S OBLIGATIONS.
The obligation of BUYER to purchase the Assets is subject to the fulfillment, prior to or at the Closing Date, of each of the following
conditions, any one or portion of which may be waived in writing by BUYER:

 

A. All representations
and warranties made in this Agreement by SELLER shall be true, in all material respects, as of the Closing Date as fully as though
such representations and warranties had been made on and as of the Closing Date, and, as of the Closing Date, SELLER shall not
have violated or shall have failed to perform in any material way, in accordance with any covenant contained in this Agreement.

 

B. There shall have
been no material adverse change in the manner of operation of the SELLER's business prior to the Closing Date.

 

C. At the Closing
Date no suit, action, or other proceeding shall have been threatened or instituted to restrain, enjoin, or otherwise prevent the
consummation of this Agreement or the contemplated transactions.

 

 

9. CONDITIONS PRECEDENT TO OBLIGATIONS
OF SELLER. The obligations of SELLER to close this Agreement are subject to the fulfillment, prior to or at the Closing Date, of
each of the following conditions, any one or a portion of which may be waived in writing by SELLER:

 

A. All representations
and warranties made in this Agreement by BUYER shall be true as of the Closing Date as fully as though such representations and
warranties had been made on and as of the Closing Date, and BUYER shall not have violated or shall not have failed to perform in
accordance with any covenant contained in this Agreement.

 

10. INDEMNIFICATION AND SURVIVAL. All
representations and warranties made in this Agreement shall survive the Closing of this Agreement, except that any party to whom
a representation or warranty has been made in this Agreement shall be deemed to have waived any misrepresentation or breach of
representation or warranty of which such party had knowledge prior to Closing. Any party learning of a misrepresentation or breach
of representation or warranty under this Agreement shall immediately give written notice thereof to all other parties to this Agreement.
The representations and warranties in this Agreement shall terminate one year from the Closing Date, and such representations or
warranties shall thereafter be without force or effect, except any claim with respect to which notice has been given to the party
to be charged prior to such expiration date. SELLER hereby agrees to indemnify and hold BUYER, it successors, and assigns harmless
from and against any and all damage or deficiency resulting from any material misrepresentation, breach of warranty or covenant,
or non-fulfillment of any agreement on the part of SELLER under this Agreement.

 

11. CLOSING. This Agreement shall be
closed on or before September 15, 2017, or at such other time at such place that the parties may agree to in writing. If Closing
has not occurred on or prior to that time, then any party may elect to terminate this Agreement. If, however, the Closing has not
occurred because of a breach of contract by one or more parties, the breaching party or parties shall remain liable for breach
of contract.

 

A. At the Closing and coincidentally
with the performance by BUYER of its obligations described herein, SELLER shall deliver to BUYER the following:

 

1. A Bill of Sale
for the Assets and all documents necessary to transfer any titles to any asset purchased.

 

2. All other documents
called for in this Agreement and such other documents that BUYER and its counsel may reasonably require.

 

B. At the Closing and coincidentally
with the performance by SELLER of its obligations described herein, BUYER shall deliver to SELLER the following:

 

1. The Shares or
a copy of instructions to BUYER's transfer agent instructing it to issue the aforementioned Shares.

 

2. Confirmation
and receipt of ONE HUNDRED THOUSAND DOLLARS ($100,000.00 U.S.D.) sent by Buyer to Seller.

 

3. All other documents
called for in this Agreement and such other documents that SELLER and its counsel may reasonably require.

 

12. GOVERNING LAW. This Agreement and
any matters arising out of or related to this Agreement will be governed by the laws of the State of Nevada. If any action is brought
among the parties with respect to this Agreement or otherwise, by way of a claim or counterclaim, the parties agree that in any
such action, and on all issues, the parties irrevocably waive their right to a trial by jury. Exclusive jurisdiction and venue
for any such action shall be the State Courts of Nevada.

 

13. ENTIRE AGREEMENT. This Agreement
contains the entire agreement among the parties, and supersedes all prior agreements, representations and understandings of the
parties, relating to the subject matter of this Agreement.

 

14. FURTHER ACTIONS. Each party agrees
that after the delivery of this Agreement it or he will execute and deliver such further documents and do such further acts and
things as another party may reasonably request in order to carry out the terms of this Agreement.

 

15. AMENDMENT. No supplement to or amendment
of this Agreement will be binding unless executed in writing by SELLER and BUYER.

 

16. SUCCESSORS AND ASSIGNS. This Agreement
will be binding on, and will inure to the benefit of, the parties and their respective successors and assigns, and shall not confer
any rights or remedies on any other Persons.

 

17. COUNTERPARTS. This Agreement may
be executed in one or more counterparts, each of which will be deemed a valid, original agreement, but all of which together will
constitute one and the same instrument.

 

18. SEVERABILITY. If any provision of
this Agreement or its application to any Person or circumstances is held to be unenforceable or invalid by any court of competent
jurisdiction, its other applications and the remaining provisions of this Agreement will be interpreted so as best reasonably to
effect the intent of the parties.

 

19. ATTORNEYS' FEES. Each party will
pay its or his own legal fees and other expenses in connection with the preparation of this Agreement and the sale of Assets in
accordance with this Agreement. However, if any legal action or other proceeding is brought for the enforcement of this Agreement,
or because or arising out of an alleged dispute, breach, default or misrepresentation in connection with any of the provisions
of this Agreement, the prevailing party will be entitled to recover reasonable attorneys fees and other costs incurred in that
action or proceeding, in addition to any other relief to which it or he may be entitled.

 

20. NOTICES. All notices, requests,
demands, and other communications required or permitted hereunder will be in writing and will be deemed to have been duly given
when delivered by hand, by overnight courier, or fax, or two days after being mailed by certified or registered mail, return receipt
requested, with postage prepaid:,

 

21. WAIVERS. Any provision of this Agreement
may be waived at anytime by the party entitled to the benefit thereof by a written instrument executed by the party or by a duly
authorized officer of the party. No waiver of any of the provisions of this Agreement will be deemed, or will constitute, a waiver
of any other provision, whether or not similar, nor will any waiver constitute a continuing waiver.

 

 

SIGNATURES

 

 

	
        BUYER:

         

        Ameritek Ventures
	
        SELLER:

         

        Clinton L. Stokes

	 	 	 
	
         

        By: /s/ Kenneth Mayeaux
	 	
         

        By: /s/ Clinton L. Stokes

	
        Kenneth Mayeaux

        Secretary &
        Treasurer
	
        Clinton L. Stokes

        An Individual

	 	 	 
	
         

         

         
	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

EXHIBIT A

 

The two main technologies being acquired in
this Asset Purchase Agreement are VAD and OVD.

 

VAD or Vapor Axial Deposition, is the most
economical and highest quality method to produce in core preforms, hence it used in the production of the bulk of optical fiber
preforms. It uses metal aperture burners that deposits a fine silica oxide material transported by a huge amount of forced airflow
within a sealed cabinet, called a deposition chamber. This fine glass material basically grows upward in the axial direction on
a glass rod which creates a large-diameter porous glass preform, which must be heated to make the preform transparent, from which
optical fiber can then be drawn.

 

OVD or Outside Vapor Deposition is the other
method for producing optical fiber preforms. In this methodology, the preform is fabricated placing fine glass material through
deposition on a mandrel by flame hydrolysis. Even though it can produce large diameter preforms, unlike VAD the mandrel limits
the length of the preform. Additionally, after the process is complete, the mandrel must be removed carefully without damaging
the inner surface before the heating process that delivers a transparent preform may be accomplished.

 

Ameritek Ventures will obtain the rights to
both of the above optical fiber preform manufacturing technologies. These technologies have gone through upgrades to reduce waste,
increase production rates and deliver world class quality performs. The rights to these technologies include, but are not limited
to:

 

		·	All Schematic Diagrams of the VAD & OVD Equipment;

		·	All Vendors and associated parts used in the manufacturing of equipment;

		·	All Proprietary Computer Programming;

		·	All Process Control Software;

		·	All Intellectual Property associated with Preform Chemical Composition; and

		·	All future rights to Patent DevelopmentForm of Medium-Term Notes, Series P

 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. 95000N2W8 
	
PRINCIPAL AMOUNT: $                   
  

 REGISTERED NO.          

WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES P 

Due Nine Months or More From Date of Issue 

Notes Linked to 3 Month LIBOR due September 6, 2022 

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, the principal sum of
                                         
                    DOLLARS ($                ) on
September 6, 2022 (the “Stated Maturity Date”) and to pay interest thereon from September 6, 2017 or from the most recent Interest Payment Date to which interest has been paid or duly provided for quarterly on each
March 6, June 6, September 6 and December 6, commencing December 6, 2017, and at Maturity (each, an “Interest Payment Date”), at the rate per annum specified below until the principal hereof is paid or made
available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such interest next preceding such Interest Payment Date. The Regular Record Date for an Interest Payment Date shall be one Business Day prior to such Interest Payment Date. If an
Interest Payment Date is not a Business Day, interest on this Security shall be payable on the next day that is a Business Day, with the same force and effect as if made on such Interest Payment Date, and without any interest or other payment with
respect to the delay. “Business Day” shall mean a day, other than a Saturday or Sunday, (i) 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 and (ii) that is also a London Banking Day (as defined below). 
 Except as described below for the
first Interest Period, on each Interest Payment Date, interest will be paid for the period commencing on and including the immediately preceding 

 
Interest Payment Date and ending on and including the day immediately preceding that Interest Payment Date. This period is referred to as an “Interest Period.” The first Interest
Period will commence on and include September 6, 2017 and end on and include December 5, 2017. Interest on this Security will be computed on the basis of a 360-day year of twelve 30-day months. 
 The interest rate on this Security that will apply during the first ten
Interest Periods (up to and including the Interest Period ending March 5, 2020) will be equal to 2.25% per annum. For all Interest Periods commencing on or after March 6, 2020, the interest rate on this Security will be determined by
the calculation agent for this Security (the “Calculation Agent”) and will be equal to 3 month LIBOR on the Interest Determination Date for such Interest Period plus 0.30%, but in no event will such rate be more than the Maximum
Interest Rate. 
 The “Interest Determination Date” for an Interest Period commencing on or after
March 6, 2020 will be two London Banking Days prior to the first day of such Interest Period. A “London Banking Day” is any day on which commercial banks and foreign exchange markets settle payments in London. 

“3 month LIBOR” means, for any Interest Determination Date, the arithmetic mean of the offered rates for
deposits in U.S. dollars having a 3 month maturity, commencing on the second London Banking Day immediately following that Interest Determination Date that appear on the Designated LIBOR Page as of 11:00 a.m., London time, on that Interest
Determination Date, if at least two offered rates appear on the Designated LIBOR Page, provided that if the Designated LIBOR Page by its terms provides only for a single rate, that single rate will be used. The “Designated LIBOR
Page” means the display on Reuters, or any successor service, on page LIBOR01, or any other page as may replace that page on that service, for the purpose of displaying the London Interbank rates for U.S. dollars. 

If (i) fewer than two offered rates appear or (ii) no rate appears and the Designated LIBOR Page by its terms
provides only for a single rate, then the Calculation Agent will request the principal London offices of each of four major banks in the London Interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered
quotation for deposits in U.S. dollars for a 3 month period commencing on the second London Banking Day immediately following that Interest Determination Date to prime banks in the London Interbank market at approximately 11:00 a.m., London
time, on that Interest Determination Date and in a principal amount that is representative of a single transaction in U.S. dollars in that market at that time. If at least two quotations are provided, 3 month LIBOR determined on that Interest
Determination Date will be the arithmetic mean of those quotations. 
 If fewer than two quotations are provided, 3 month
LIBOR will be the arithmetic mean of the rates quoted at approximately 11:00 a.m. in New York, New York on that Interest Determination Date by three major banks in New York, New York selected by the Calculation Agent for loans in U.S. dollars
to leading European banks, having a 3 month maturity and in a principal amount that is representative of a single transaction in U.S. dollars in that market at that time. 

  
 2 

 If the banks so selected by the Calculation Agent are not quoting as set
forth above, 3 month LIBOR for that Interest Determination Date will remain 3 Month LIBOR for the immediately preceding Interest Period or, if none, the interest rate will be 2.25% per annum. 

The “Maximum Interest Rate” applicable to an Interest Period commencing on or after March 6, 2020 is
4.00% per annum. 
 The Calculation Agent shall, upon the request of a Holder of this Security, provide the interest
rate then in effect and, if determined, the interest rate that will become effective for the next Interest Period. All calculations of the Calculation Agent, in the absence of manifest error, shall be conclusive for all purposes and binding on the
Company and the Holder hereof. The Calculation Agent shall notify the Paying Agent of each determination of the interest applicable to this Security promptly after the determination is made. Wells Fargo Securities, LLC will initially act as
Calculation Agent. The Company may appoint a successor Calculation Agent with the written consent of the Trustee. 
 Any
interest not punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date,
or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully
provided in the Indenture. 
 Payment of interest on this Security will be made in immediately available funds at the office
or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota 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; provided, however,
that, at the option of the Company, payment of interest may be paid by check mailed to the Person entitled thereto at such Person’s last address as it appears in the Security Register or by wire transfer to such account as may have been
designated by such Person. Payment of principal of and interest 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.
Notwithstanding the foregoing, for so long as this Security is a Global Security registered in the name of the Depositary, payments of principal and interest on this Security will be made to the Depositary by wire transfer of immediately available
funds. 
 This Security is not subject to redemption at the option of the Company or repayment at the option of the Holder
hereof prior to September 6, 2022. This Security is not entitled to any sinking fund. 
  

 

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. 

  
 3 

 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] 

  
 4 

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

 

					
	WELLS FARGO & COMPANY

 
					
		
	By:	 	  

					
			
		 		 	Its:

 [SEAL] 
  

					
	Attest:	 	  

		
		 	Its:

  

			
	 TRUSTEE’S CERTIFICATE OF

AUTHENTICATION
 This is one of the Securities of the

series designated therein described
 in the within-mentioned Indenture.

	
	 CITIBANK, N.A.,

      as Trustee

			
		
	By:	 	 
		 	Authorized Signature
	
	OR
	
	 WELLS FARGO BANK, N.A.,

  as Authenticating Agent for the Trustee

			
		
	By:	 	 
		 	Authorized Signature

  
 5 

 [Reverse of Note] 

WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES P 

Due Nine Months or More From Date of Issue 

Notes Linked to 3 Month LIBOR due September 6, 2022 

This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999, as amended or supplemented from time to time (herein called the “Indenture”), between the Company and
Citibank, N.A., as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is
one of the series of the Securities designated as Medium-Term Notes, Series P, of the Company, which series is limited to an aggregate principal amount of $25,000,000,000 or the equivalent thereof in one or more foreign or composite currencies.
The Securities of this series will bear interest at a fixed rate or a floating rate. The Securities of this series may mature at different times, be redeemable at different times or not at all, be repayable at the option of the Holder at different
times or not at all and be denominated in different currencies. 
 Article Sixteen of the Indenture shall not apply to this
Security. 
 Article Seventeen of the Indenture shall apply to this Security. 

The Securities are issuable only in registered form without coupons and will be either
(a) book-entry securities represented by one or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated
securities issued to and registered in the names of, the beneficial owners or their nominees. 
 The Company agrees, to the
extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of interest against a Holder of this Security. 

Events of Default 

“Event of Default”, whenever used herein with respect to the Securities of this series, means any one of the
following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law, pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body): 
 (1) default in the payment of any interest upon any Security of this
series when it becomes due and payable, and continuance of such default for a period of 30 days; or 

  
 6 

 (2) default in the payment of the principal of any Security
of this series at its Maturity, and continuance of such default for a period of 30 days; or 
 (3)
default in the performance, or breach, of any covenant or warranty of the Company in the Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in Section 501 of the Indenture specifically dealt
with or which has expressly been included in the Indenture solely for the benefit of Securities of a series other than the Securities of this series), and continuance of such default or breach for a period of 90 days after there has been given by
registered or certified mail, to the Company by the Trustee, or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of this series, a written notice specifying such default or breach and
requiring it to be remedied and stating that such notice is a “Notice of Default” under the Indenture, or 

(4) the failure of the Company, subject to the provisions of Section 1008 of the Indenture, to observe
and perform the covenants contained in Section 1005 of the Indenture; or 
 (5) the entry by a court
having jurisdiction of (A) a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency or similar law or (B) a decree or order adjudging the
Company a bankrupt or insolvent, or approving a petition seeking receivership, insolvency or liquidation of or in respect of the Company under any applicable Federal or State law, or appointing a receiver, liquidator, trustee or similar official of
the Company, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days; or 

(6) the commencement by the Company of a voluntary case or proceeding under any applicable Federal or State
bankruptcy, insolvency or similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, the appointment of a receiver for the Company under any applicable Federal or State bankruptcy, insolvency or similar law following
consent by the Board of Directors of the Company to such appointment, or the entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency,
receivership, liquidation or similar law following the Company’s consent to such decree or order. 
 If an Event of
Default specified in Clause (1), (2), (5) or (6) shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. For the
avoidance of doubt, if an Event of Default specified in Clause (3) or (4) shall occur and be continuing, the principal of the Securities of this series may not be declared due and payable. 

Modification and Waivers 

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

  
 7 

 
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected, acting together as a class. The Indenture also
contains provisions permitting the Holders of a majority in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the Indenture, acting together as a class, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain past defaults under the Indenture and their consequences may be waived under the Indenture by the Holders of a majority in principal amount
of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

Defeasance 

Section 403 and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the
Indenture, relating to defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth therein,
shall not apply to this Security. The remaining provisions of Section 401 of the Indenture shall apply to this Security. 
 Authorized
Denominations 
 This Security is issuable only in registered form without coupons in denominations of $1,000 or any
amount in excess thereof which is an integral multiple of $1,000. 
 Registration of Transfer 

Upon due presentment for registration of transfer of this Security at the office or agency of the Company in the City of
Minneapolis, Minnesota, a new Security or Securities of this series, with the same terms as this Security, in authorized denominations for an equal aggregate principal amount will be issued to the transferee in exchange herefor, as provided in the
Indenture and subject to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental charge imposed in connection therewith. 

This Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the
Company that it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not
appointed within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form
and notifies the Trustee thereof or (z) an Event of Default with respect to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for
definitive Securities in registered form, bearing interest at the same rate, having the same date of issuance, Stated Maturity Date and other terms and of authorized denominations aggregating a like amount. 

  
 8 

 This Security may not be transferred except as a whole by the Depositary to
a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor of the Depositary or a nominee of such successor. Except as provided above,
owners of beneficial interests in this Global Security will not be entitled to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under the Indenture. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company
or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 Obligation of the Company Absolute 

No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed, except as otherwise provided in this Security. 

No Personal Recourse 

No recourse shall be had for the payment of the principal of or the interest on this Security, or for any claim based hereon,
or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor
corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof,
expressly waived and released. 
 Defined Terms 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture
unless otherwise defined in this Security. 
 Governing Law 

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

  
 9 

 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)

  
 10 

 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. 

  
 11

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