Document:

Amendment to Inventory Financing Agreement

 Exhibit 10.42 
 AMENDMENT TO INVENTORY FINANCING AGREEMENT 
 AND BUSINESS FINANCING
AGREEMENT 
 This Amendment is made to (i) that certain Inventory Financing Agreement executed on the
23rd day of March, 2010, between RED RIVER COMPUTER
CO., INC. (“Dealer”) and GE Commercial Distribution Finance Corporation (“CDF”), as amended (“IFA”) and (ii) that certain Business Financing Agreement between Dealer and CDF dated August 18, 2011,
as amended (“BFA”). 
 FOR VALUE RECEIVED, CDF and Dealer agree as follows (capitalized terms shall have the same
meaning as defined in the BFA unless otherwise indicated): 
 1. Section 1.1 of the BFA is hereby amended to incorporate
the following defined terms: 
 “‘Government Accounts’: all Accounts due and payable from a U.S. county,
state or federal governmental body, agency or instrumentality; or body, agency or instrumentality of the District of Columbia. 

‘Education Accounts’: all Accounts due and payable, from a U.S. county or state school or other educational institution.

 ‘Healthcare IT Accounts’: all Accounts due and payable from U.S. county, state or private hospitals for
information technology products and services associated with the health care industry. 
 ‘Other Accounts’: all
Accounts other than Government Accounts, Education Accounts and Healthcare IT Accounts. 
 ‘Eligible Cisco VIP
Rebates’: Value Incentive Program rebates to be issued by Cisco Systems, Inc. (“Cisco”) to Dealer in which CDF has a first priority security interest, the eligible amount of which is determined by CDF in its sole discretion, based
on information provided by Cisco to Dealer, which information is shared by Dealer with CDF. 
 ‘Eligible Unbilled
Accounts Receivable’: Accounts arising out of the sale of Inventory, which have not been billed, and are aged less than 45 days from the date of shipment of such Inventory, and without giving effect to the provisions of
Section 3.3.” 
 2. Section 2.1 of the BFA is hereby amended in its entirety to read as follows: 

“2.1 Accounts Receivable Facility. Subject to the terms of this Agreement, CDF agrees to provide to
Dealer an Accounts Receivable Facility of (a) Fifteen Million Dollars ($15,000,000.00) at all times other than during the Seasonal Uplift Period (as defined below) and (b) Twenty Million Dollars ($20,000,000.00) from
August 1st through January 31st of each calendar year (the “Seasonal Uplift Period”);
provided, however, that: (i) at no time other than during the Seasonal Uplift Period will the principal amount outstanding under the Accounts Receivable Facility and Dealer’s inventory floorplan credit facility with CDF exceed, in the
aggregate, Thirty Five Million Dollars ($35,000,000.00), and (ii) at no time during the seasonal Uplift Period will the principal amount outstanding under the Accounts Receivable Facility and Dealer’s inventory floorplan credit
facility with CDF exceed, in the aggregate, Fifty Five Million Dollars ($55,000,000.00). CDF’s decision to advance funds is discretionary and will not be binding until the funds are actually advanced.” 

In addition, subject to the terms of the IFA, CDF agrees to provide to Dealer an inventory floorplan credit facility
of: (a) Thirty Five Million Dollars ($35,000,000.00) at all times other than during the Seasonal Uplift Period (as defined below), and (b) Fifty-Five Million Dollars ($55,000,000.00) ) from August 1st through January 31st of each calendar year (the “Seasonal Uplift Period”);
provided, however, that: (i) at no time other than during the Seasonal Uplift Period will the principal amount outstanding under Dealer’s inventory 

  

					
	81353 (07/27/11) modified 9/13/11	 	1	 	

 
floorplan credit facility with CDF and Dealer’s Accounts Receivable Facility exceed, in the aggregate Thirty Five Million Dollars ($35,000,000.00), and (ii) at no time during the
Seasonal Uplift Period will the principal amount outstanding under the Accounts Receivable Facility and Dealer’s inventory floorplan credit facility with CDF exceed in the aggregate, Fifty-Five Million Dollars ($55,000,000.00).
CDF’s decision to advance funds is discretionary and will not be binding until the funds are actually advanced. 
 3.
Section 3.2 of the BFA is hereby amended to read as follows, and to the extent applicable, the following provision shall also amend the IFA: 
 “3.2 Available Credit; Paydown. On receipt of each Borrowing Base Certificate, CDF will credit Dealer with such amount as CDF may deem advisable, up to the reminder of (a) eighty-five percent (85%) of the net amount of
eligible Accounts (excluding Eligible Unbilled Accounts Receivable) listed in such Borrowing Base Certificate, plus (b) sixty-five percent (65%) of the net amount of Eligible Cisco VIP Rebates listed in such Borrowing Base
Certificate, plus (c) seventy percent (70%) of the net amount of Eligible Unbilled Accounts Receivable up to a maximum of Ten Million Dollars ($10,000,000.00), minus (d) the amount of Dealer’s SPP Deficit (as defined
below) under Dealer’s Inventory Financing Agreement (the ‘IFA’) with CDF, as in effect from time to time, but in no event will CDF credit Dealer with more than Dealer’s maximum Accounts Receivable Facility from time to time
established by CDF (the ‘Available Credit’). 
 Dealer’s ‘SPP Deficit’ shall mean
the amount, if any, by which Dealer’s total current outstanding indebtedness to CDF under the IFA as of the date of the Inventory Report (as defined below) exceeds the Inventory Value (as defined below) as determined by, and as of the date of,
the Inventory Report, Such SPP Deficit, if any, will remain in effect for purposes of this Agreement until the preparation and delivery by Dealer to CDF of a new Inventory Report. Dealer will forward to CDF by the 10th day of every month an Inventory Report dated as of the last day of
the prior month which specifies the total aggregate wholesale invoice price of all of Dealer’s inventory financed by CDF under the IFA that is unsold and in Dealer’s possession and control as of the date of the Inventory Report.

 The term ‘lnventory Value is defined herein to mean one hundred percent (100%) of the total aggregate
wholesale invoice price of all of Dealer’s inventory financed by CDF under the IFA that is unsold and in Dealer’s possession and control as of the date of the Inventory Report and to the extent that CDF has a first priority, fully
perfected security interest therein. 
 If, for any reason, Dealer’s outstanding loans under Dealer’s Accounts
Receivable Facility shall at any time exceed Dealer’s Available Credit, Dealer will immediately repay to CDF the amount of such excess. 
 Furthermore, as an amendment to the IFA, in the event Dealer’s SPP Deficit exceeds at any time (a) eighty-five percent (85%) of the net amount of eligible Accounts (excluding
Eligible Unbilled Accounts Receivable, plus (b) sixty-five percent (65%) of the net amount of Eligible Cisco VIP Rebates, plus (c) seventy percent (70%) of the net amount of Eligible Unbilled Accounts Receivable up
to a maximum of Ten Million Dollars ($10,000,000.00), minus (d) Dealer’s outstanding loans under Dealer’s Accounts Receivable Facility, Dealer will immediately pay to CDF, as a reduction of Dealer’s total current
outstanding indebtedness to CDF under the IFA, such excess. 
 No advances or loans need be made by CDF if Dealer is in
Default.” 
 4. Section 3.3 of the BFA is hereby amended to read in its entirety as follows: 

“3.3 Eligible Accounts. CDF will have the sole right to determine eligibility of Accounts and, without limiting CDF’s
discretion in that regard, all Accounts shall be eligible except for: (a) Accounts created from the sale of goods and services on 

  

					
	81353 (07/27/11) modified 9/13/11	 	2	 	

 
non-standard terms and/or that allow for payment to be made more than sixty (60)) days from the date of sale; (b) Other Accounts unpaid more than ninety (90) days from date of
invoice and Government Accounts, Education Accounts and approved Healthcare IT Accounts unpaid more than one hundred twenty (120) days from date of invoice; (c) all Other Accounts of any obligor if fifty percent (50%) or more of the
aggregate outstanding balance of such obligor’s Other Accounts are unpaid for more than ninety (90) days from the date of invoice and all Government Accounts, Education Accounts and approved Healthcare IT Accounts of any obligor if fifty
percent (50%) or more of the aggregate outstanding balance of such obligor’s Government Accounts, Education Accounts and approved Healthcare IT Accounts are unpaid for more than one hundred twenty (120) days from the date of invoice;
(d) Accounts greater than (i) twenty percent (20%) of Dealer’s then total aggregate outstanding commercial accounts, and (ii) $500,000.00 (e) Accounts for which the obligor is an officer, director, shareholder, partner, member, owner,
employee, agent, parent, subsidiary, affiliate of, or is related to Dealer or has common shareholders, officers, directors, owners, partners or members with Dealer; (f) consignment sales; (g) Accounts for which the payment is or may be
conditional; (h) Accounts for which the obligor is not a commercial or institutional entity or is not a resident of the United States or Canada; (i) Accounts with respect to which any warranty or representation provided in Subsection 3.4
or Subsection 5.1 is not true and correct; (j) Accounts which represent goods or services purchased for a personal, family or household purpose; (k) Accounts which represent goods used for demonstration purposes or loaned by the
Dealer to another party; (l) Accounts which are progress payment, barter, or contra accounts, (m) Accounts in which CDF does not have a perfected, first security interest therein and (n) any and all other Accounts which CDF reasonably deems to be
ineligible, If CDF determines that any Account is or becomes an ineligible Account, immediately upon notice thereof from CDF, Dealer will pay to CDF an amount equal to the monies loaned by CDF for such ineligible Account. 

5. The last sentence of Section 3.7 of the BFA is hereby amended to read in its entirety as follows: 

“Upon the occurrence and during the continuance of a Default, CDF may notify the obligors that the Accounts, have been assigned to
CDF, collect the Accounts directly in its own name and charge the collection costs and expenses, including reasonable attorneys’ fees, to Dealer. CDF has no duty to protect, insure, collect or realize upon the Accounts to preserve rights in
them.” 
 6. Section 5.2.1 (iii) of the BFA is hereby amended to read in its entirety as follows: 

“(iii) permit CDF and its designees, with twenty-four (24) hours prior notice, to inspect the Collateral during normal business
hours and at any other time CDF deems desirable (and Dealer hereby grants CDF and its designees an irrevocable license to enter Dealer’s business locations during normal business hours with twenty-four (24) hours prior notice to Dealer to
account for and inspect all Collateral and to examine and copy Dealer’s books and records related to the Collateral);” 
 7. Section 5.2.1.(x) of the BFA is hereby amended to read in its entirety as follows: 
 “(x) notify CDF of the commencement of any material legal proceedings against Dealer or any Guarantor (as defined below);” 

8. Section 5.2.2 of the BFA is hereby amended by adding the following sentence at the end of such Section. 

“Notwithstanding the provisions of any of the foregoing covenants, Dealer and its shareholders shall have the right to transfer a
controlling shareholder interest in Dealer to Synergy Acquisition Corporation or its nominee at any time without CDF’s prior written consent.” 

  

					
	81353 (07/27/11) modified 9/13/11	 	3	 	

 9. Section 5.2.2(xviii) of the BFA is hereby amended to read in its entirety as
follows: 
 “(xviii) make any loans, advances, contributions or payments of money or in goods to any Dealer Affiliate or to
any officer, director, stockholder, member or partner of Dealer or of any such Dealer Affiliate (except for compensation for personal services actually rendered) in an aggregate amount exceeding One Hundred Thousand Dollars ($100,000.00).”

 10. Section 7(a) of the IFA and Section 5.3(a) of the BFA are hereby amended to read in their entirety as follows:

 “(a) Dealer’s year-end balance sheet, trial balance sheet and annual profit and loss statement for each of its
fiscal years, within twenty (20) days after the same are prepared but in no event later than one hundred and twenty (120) days after the end of each fiscal year;” 
 11. Section 7(b) of the IFA and Section 5.3(b) of the BFA are hereby amended to read in their entirety as follows: 
 “(b) within forty-five (45) days after the end of each of Dealer’s fiscal quarters, a reasonably detailed balance sheet, trial balance sheet and income statement as of the last day of such
quarter covering Dealer’s operations for such quarter;” 
 12. The following paragraph is hereby incorporated into the
BFA as if fully and originally set forth therein: 
 “Facility Fee. Dealer agrees to pay
CDF an annual facility fee in connection with the Accounts Receivable Facility, payable in advance, upon the execution of this Agreement, and on each anniversary thereof through the term of this Agreement, each in an amount of Twenty Five Thousand
Dollars ($25,000.00) (or such other amount as shall from time to time represent the sum of the maximum credit available under this Agreement). Once received by CDF, an annual facility fee shall not be refundable by CDF for any reason; provided,
however, that in the event (i) if CDF terminates this Agreement on other than the anniversary date and Dealer is not then in Default then CDF shall refund to Dealer a portion of the facility fee equal to the number of whole months remaining in
the current annual term (or renewal term) of this Agreement multiplied by an amount equal to one twelfth (1/12) of the facility fee paid by Dealer for that term, or (ii) if Dealer terminates this Agreement within the first six (6) months
of the date of the Agreement and Dealer is not then in Default then CDF will apply the annual facility fee towards the amount due to CDF as calculated under Section 7.1.1 of the Agreement (it being understood that in the event that Dealer does
not owe a fee pursuant to Section 7.1.1 then CDF shall be entitled to retain the entire annual facility fee).” 
 13.
The following paragraph is incorporated into the IFA and BFA as if fully and originally set forth therein: 
 Dealer will
maintain: 
  

	 	(a)	as of and September 30, 2011, a Tangible Net Worth and Subordinated Debt in the combined amount of not less than $1,500,000.00; 

 

	 	(b)	as of December 31, 2011, March 31, 2012, June 30, 2012, and September 30, 2012, a Tangible Net Worth and Subordinated Debt in the combined amount of
not less than $2,500,000.00; 

  

	 	(c)	as of December 31, 2012, March 31, 2013, June 30, 2013, and September 30, 2013, a Tangible Net Worth and Subordinated Debt in the combined
amount of not less than $3,500,000.00; and 

  

					
	81353 (07/27/11) modified 9/13/11	 	4	 	

	 	(d)	as of December 31, 2013 and each fiscal quarter-end thereafter, a Tangible Net Worth and Subordinated Debt in the combined amount of not less than $4,500,000.00.

 For purposes of this paragraph: (i) ‘Tangible Net Worth’ means the book value of
Dealer’s assets less liabilities, excluding from such assets all Intangibles; (ii) ‘Intangibles’ means and includes general intangibles; software (purchased or developed in-house) accounts receivable and advances due from
officers, directors, employees stockholders, members, owners and affiliates; leasehold improvements net of depreciation; licenses; good will; prepaid expenses; escrow deposits; covenants not to compete; the excess of cost over book value of acquired
assets; franchise fees; organizational costs, finance reserves held for recourse obligations; capitalized research and development costs the capitalized cost of patents, trademarks, service marks and copyrights net of amortization; and such other
similar items as CDF may from time to time determine in CDF’s sole discretion; (iii) ‘Debt’ means all of Dealer’s liabilities and indebtedness for borrowed money of any kind and nature whatsoever, whether direct or
indirect, absolute or contingent, and including obligations under capitalized leases, guaranties, or with respect to which Dealer has pledged assets to secure performance, whether or not direct recourse liability has been assumed by Dealer, and
(iv)) ‘Subordinated Debt’ means all of Dealer’s Debt which is subordinated to the payment of Dealer’s liabilities to CDF by an agreement in form and substance satisfactory to CDF. All terms used herein to the extent not
defined shall be used in accordance with generally accepted accounting principles consistently applied. All amounts, applicable, shall be calculated on a consolidated basis. 
 14. Section 6.1 of the BFA is hereby amended to read in its entirely as follows: 
 “6.1 Definition. The occurrence of one or more of the following events shall constitute a default by Dealer (a “Default”) (a) Dealer shall fail to pay any Obligations when due
or any remittance for any Obligations is dishonored when first presented for payment; (b) any material representation made to CDF by Dealer or by any Guarantor shall not be true when made or if Dealer or any Guarantor shall breach any covenant,
warranty or agreement to or with CDF and such breach shall not have been cured within thirty (30) days of receipt of notice thereof (c) Dealer (including, if Dealer is a partnership or limited liability company, any partner or member of Dealer)
or any Guarantor shall die, become insolvent or generally fail to pay its debts as they become due or, if a business, shall cease to do business as a going concern; (d) any letter of credit or other form of collateral provided by Dealer or a
Guarantor to CDF with respect to any Obligations or Collateral shall terminate or not be renewed at least sixty (60) days prior to its stated expiration or maturity; (e) Dealer abandons any Collateral and such breach shall not have been
cured within thirty (30) days of receipt of notice thereof; (f) any Guarantor shall revoke, terminate or limit, or take any action purporting to revoke, terminate or limit, any guaranty or other assurance of payment relating to any Obligations;
(g) Dealer or any Guarantor shall make an assignment for the benefit of creditors, or commence a proceeding with respect to itself under any bankruptcy, reorganization, arrangement, insolvency, receivership, dissolution or liquidation statute
or similar law of any jurisdiction, or any such proceeding shall be commenced against it or any of its property (an “Automatic Default”) and such proceeding shall not have been dismissed, stayed or vacate within thirty (30) days of
receipt of notice thereof; (h) an attachment, sale or seizure shall be issued or shall be executed against any assets of Dealer or of any Guarantor and such breach shall not have been cured within thirty (30) days of receipt of notice
thereof; (i) Dealer shall lose, or shall be in default of, any franchise, license or right to deal in any Collateral which CDF finances and such breach shall not have been cured within thirty (30) days of receipt of notice thereof;
(j) Dealer, Guarantor or any third party shall file any correction or termination statement with respect to any Uniform Commercial Code (the “UCC”) filing made by CDF in connection herewith; (k) a material adverse change
shall occur in the business, operations or condition (financial or otherwise) of Dealer (including, if Dealer is a partnership or limited liability company, any partner or member of Dealer) or any Guarantor or with respect to the Collateral,
excluding the 

  

					
	81353 (07/27/11) modified 9/13/11	 	5	 	

 
Synergy Acquisition Corporation transaction; (l) Dealer or any Guarantor fails to pay any debt or perform any other obligation owed to any third party; (m) Dealer or any Guarantor
defaults under the terms of any agreement with any CDF Affiliate and, with respect to other than a payment default for which no cure period shall be applicable, such breach shall not have been cured within thirty (30) days of receipt of notice
thereof. 
 15. Section 7.2 of the BFA is hereby amended to read in its entirety as follows: 

“7.2 Collection and Other Costs. Checks and other instruments delivered to CDF on account of the
Obligations will constitute conditional payment until such items are actually paid to CDF. Dealer shall pay to CDF on demand all reasonable attorneys fees and legal expenses and other costs and expenses incurred by CDF in connection with
establishing, perfecting, maintaining perfection of, protecting and enforcing its Lien on the Collateral and collecting any Obligations, or in connection with any modification of this Agreement, any Default or in connection with any action of
proceeding under any bankruptcy or insolvency laws or incurred pursuant to an arbitration proceeding involving the Dealer, any Guarantor or any Collateral. All fees expenses, costs and other amounts described in this Section shall constitute
Obligations shall be secured by the Collateral and interest shall accrue thereon at the default Rate. 
 16. Section 8.9 of
the BFA is hereby amended to read in its entirely as follows: 
 “8.9 Limitations. Any arbitration proceeding must be
instituted: (a) with respect to any Dispute for the collection of any debt owed by either party to the other, within three (3) years after the date the last .payment by or on behalf of the payor was received and applied in respect of such
debt by the payee; and (b) with respect to any other Dispute, within three (3) years after the date the incident giving rise thereto occurred, whether or not any damage was sustained or capable of ascertainment or either party knew of such
incident. Failure to institute an arbitration proceeding within such period will constitute an absolute bar and waiver to the institution of any proceeding, whether arbitration or a court proceeding, with respect to such Dispute. Notwithstanding the
foregoing, this limitations provision will be suspended temporarily as of the date any of the following events occur and will not resume until the date following the date either party is no longer subject to (i) bankruptcy, (ii) receivership,
(iii) any proceeding regarding an assignment for the benefit of creditors, or (iv) any legal proceeding, civil or criminal, which prohibits either party from foreclosing any interest it might have in the collateral of the other party.”

 Dealer waives notice of CDF’s acceptance of this Amendment. 

All other terms and provisions of the IFA and BFA, to the extent not inconsistent with the foregoing, are ratified and remain unchanged
and in full force and effect. 
 IN WITNESS WHEREOF, Dealer and CDF have executed this Amendment on this 13th day of September,
2011. 
  

									
	GE COMMERCIAL DISTRIBUTION FINANCE CORPORATION	 		 	RED RIVER COMPUTER CO., INC.
					
	By:	 	/s/ Richard Greco	 		 	By:	 	/s/ Richard Bolduc
		 	Richard Greco	 		 		 	Richard Bolduc
		 	Senior Portfolio Manager	 		 		 	Chief Executive Officer

  

					
	81353 (07/27/11) modified 9/13/11	 	6Form of Note

 Exhibit 4.1 
 [Face of Note] 
  

			
	 CUSIP NO. 94974BEZ9
 REGISTERED
NO.         
	 	PRINCIPAL AMOUNT: $                    

 WELLS FARGO & COMPANY 

MEDIUM-TERM FIXED RATE NOTE, SERIES I 
 Due Nine Months or More From Date of Issue 
  

	x	Check this box if this Security is a Global Security. 

 Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer 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. 

This Security is not a deposit or other obligation of a depository institution and is not insured by the Federal Deposit Insurance
Corporation, the Deposit Insurance Fund or any other governmental agency. 

 

					
	 	 	 
	ORIGINAL ISSUE DATE: December 12, 2011	 	ISSUE PRICE: 99.744%	 	INTEREST RATE PER ANNUM: 2.625%
	 	 	 
	STATED MATURITY DATE: December 15, 2016	 	INTEREST PAYMENT DATES: Each June 15 and December 15, commencing June 15, 2012, and at
maturity	 	 INITIAL INTEREST PAYMENT DATE:

June 15, 2012

	 	 	 
	OPTIONAL REDEMPTION: N/A	 	 REDEMPTION PRICE: N/A

         ̈ 100%

         ̈ Other
	 	REDEMPTION DATE(S): N/A
	 	 	 
	SINKING FUND: N/A	 	OPTION TO ELECT REPAYMENT: N/A	 	 REPAYMENT PRICE: N/A

         ̈ 100%

         ̈ Other

	 	 	 
	OPTIONAL REPAYMENT DATE(S): 
N/A	 	 MINIMUM DENOMINATIONS:

        x U.S. $1,000

         ̈ Other
	 	DEPOSITARY (Only applicable if this Security is a Global Security): The Depository
Trust Company
	 	 	 
	SPECIFIED CURRENCY: U.S. Dollars	 	OTHER/ADDITIONAL TERMS: Article Sixteen of the Indenture shall not apply to this Security.	 	ADDENDUM ATTACHED: No

 
 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 the Stated Maturity Date shown above (except to the extent redeemed or repaid prior to such date) and to pay
interest, if any, on the principal amount hereof from the Original Issue Date or from the most recent Interest Payment Date to which interest has been paid or duly provided for on each Interest Payment Date set forth above, commencing on the Initial
Interest Payment Date shown above, and at Maturity at the Interest Rate shown above (computed on the basis of a 360-day year of twelve 30-day months) 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 next preceding such Interest Payment Date. Interest payable upon Maturity will be paid to the Person to whom principal is payable. The Regular Record Date for an Interest Payment Date shall be the fifteenth calendar day, whether or not a
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. If the date of Maturity would fall on a
day that is not a Business Day, the payment of principal and any premium and interest shall be made on the next Business Day, with the same force and effect as if made on the due date, and no additional interest shall accrue on the amount so payable
for the period from and after such date of Maturity. For purposes of this Security, “Business Day” means 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 (a) in New York, New York or Minneapolis, Minnesota, (b) if this Security is denominated in a Specified Currency other than U.S. dollars, euro or Australian dollars, in the principal financial
center of the country of the Specified Currency or (c) if this Security is denominated in Australian dollars, in Sydney, Australia and (ii) if this Security is denominated in euro, that is also a TARGET Settlement Day. For purposes of this
Security, “TARGET Settlement Day” means any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer System is open. 
 If this Security has been issued upon transfer of, in exchange for, or in replacement of, a Predecessor Security, interest on this Security shall accrue from the last Interest Payment Date to which
interest was paid on such Predecessor Security or, if no interest was paid on such Predecessor Security, from the Original Issue Date specified above. The first payment of interest on a Security originally issued and dated between a Regular Record
Date specified above and an Interest Payment Date will be due and payable on the Interest Payment Date following the next succeeding Regular Record Date to the registered owner on such next succeeding Regular Record Date. 

Notwithstanding the foregoing, if an Addendum is attached hereto or “Other/Additional Terms” apply to this Security as
specified above, this Security shall be subject to the terms set forth in such Addendum or such “Other/Additional Terms.” 
 The principal (and premium, if any) and interest on this Security is payable by the Company in the Specified Currency specified above. 

  
 2 

 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, other than payments of interest at Maturity, will 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. 
 The Company will pay any administrative costs imposed by banks on payors in making payments on this Security in immediately available funds and the Holder of this Security will pay any administrative
costs imposed by banks on payees in connection with such payments. Any tax, assessment or governmental charge imposed upon payments on this Security will be borne by the Holder of this Security. 

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. 

  
 3 

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

 

			
	WELLS FARGO & COMPANY
		
	By:	 	 
	Name:	 	  

	Its:	 	  

 [SEAL] 

			
		
	Attest:	 	 
	Name:	 	  

	Its:	 	  

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series designated therein referred to 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

  
 4 

 [Reverse of Note] 
 WELLS FARGO & COMPANY 
 MEDIUM-TERM FIXED RATE NOTE, SERIES I

 Due Nine Months or More From Date of Issue 
 General 
 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 I, 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 minus the aggregate principal amount of the Company’s Subordinated Medium-Term Notes, Series J which may be issued from time to time. The Securities of this series may mature at different times, bear interest, if any, at different
rates, be redeemable at different times or not at all, be repayable at the option of the Holder at different times or not at all, be issued at an original issue discount and be denominated in different currencies. 

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. 

Events of Default 
 If an
Event of Default, as defined in the Indenture, with respect to Securities of this series 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. 
 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 Trustee with the consent of the Holders of a majority in principal amount of the Securities at the 

  
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 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 and Covenant Defeasance 
 The Indenture contains provisions for 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, which provisions apply to this Security. 
 Redemption 

If so provided on the face hereof, the Company may at its option redeem this Security in whole or in part in increments of $1,000
(provided that any remaining principal amount of this Security shall not be less than the minimum authorized denomination hereof) on or after the date or dates designated as the Redemption Date(s) on the face hereof at 100% of the unpaid principal
amount hereof or the portion thereof redeemed, together with accrued interest, if any, to the Redemption Date or, if a Redemption Price other than 100% of the principal amount to be redeemed is specified on the face hereof, the Redemption Price
specified in the Addendum attached hereto. The Company may exercise such option by mailing a notice of such redemption to each Holder of the Securities of this series to be redeemed by first-class mail, postage prepaid, at least 30 days and not more
than 60 days prior to the applicable Redemption Date. In the event of redemption of this Security in part only, the Company shall issue a new Security or Securities for the unredeemed portion hereof in the name of the Holder hereof upon the
cancellation hereof. If less than all of the Securities of this series with like tenor and terms are to be redeemed, the Securities to be redeemed shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate and may
provide for the selection for redemption of a portion of the principal amount of the Securities of this series held by a Holder equal to an authorized denomination. If this Security is a Global Security and if less than all of the Securities of this
series are to be redeemed, the redemption shall be made in accordance with the Depositary’s customary procedures. Unless the Company defaults in the payment of the Redemption Price, on and after the applicable Redemption Date interest will
cease to accrue on this Security or portion hereof called for redemption. 

  
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 Sinking Fund 
 Unless otherwise specified on the face hereof, this Security will not be entitled to any sinking fund. 
 Repayment 
 If so provided on the face hereof, this Security will be
repayable prior to the Stated Maturity Date at the option of the Holder, in whole or in part and in increments of $1,000 (provided that any remaining principal amount of this Security surrendered for partial repayment shall not be less than the
minimum authorized denomination hereof), on or after the date designated as an Optional Repayment Date on the face hereof at 100% of the principal amount to be repaid, plus accrued interest, if any, to the Repayment Date or, if a Repayment Price
other than 100% of the principal amount to be repaid is specified on the face hereof, at the Repayment Price specified in the Addendum attached hereto. In order for this Security to be repaid, the Paying Agent must receive at least 30 days but not
more than 45 days prior to the Optional Repayment Date this Security with the form entitled “Option to Elect Repayment” on the reverse of this Security duly completed, or a telegram, telex, facsimile transmission or a letter from a member
of a national securities exchange, or the Financial Industry Regulatory Authority, Inc. or a commercial bank or trust company in the United States setting forth: (a) the name of the Holder of this Security; (b) the principal amount of this
Security; (c) the principal amount of this Security to be repaid; (d) the certificate number or a description of the tenor and terms of this Security; (e) a statement that the option to elect repayment is being exercised; and
(f) a guarantee that this Security, together with the duly completed form entitled “Option to Elect Repayment,” will be received by the Paying Agent not later than the fifth Business Day after the date of the telegram, telex,
facsimile transmission or letter. However, the telegram, telex, facsimile transmission or letter will only be effective if this Security and form duly completed are received by the Paying Agent by the fifth Business Day after the date of that
telegram, telex, facsimile transmission or letter. 
 Any repayment option exercised by the Holder of this Security shall be
irrevocable. The repayment option may be exercised for less than the entire principal amount of this Security, but in that event the principal amount of this Security remaining outstanding after repayment must be equal to $1,000 or an integral
multiple thereof. Upon any partial repayment, this Security shall be cancelled and a new Security or Securities for the remaining principal amount hereof shall be issued in the name of the Holder of this Security. Unless the Company defaults in the
payment of the Repayment Price, on and after the applicable Repayment Date interest will cease to accrue on this Security or portion hereof requested to be repaid. 
 Authorized Denominations 
 Unless otherwise provided on the face hereof,
this Security is issuable only in registered form without coupons in denominations of $1,000 or integral multiples of $1,000 in excess thereof. 

  
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 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 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. 
 If this Security is a Global Security (as specified
above), 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 qualified 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 or elects to terminate the book-entry system through the Depositary 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, redemption provisions, Stated Maturity Date and other terms and of authorized denominations aggregating a like amount. 

If this Security is a Global Security (as specified above), 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 and except that in the event the Company deposits money or Eligible Instruments as provided in
Articles 4 and 15 of the Indenture, such payments will be made only from proceeds of such money or Eligible Instruments. 

  
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 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. 

  
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 OPTION TO ELECT REPAYMENT 
 TO BE COMPLETED ONLY IF THIS SECURITY IS
REPAYABLE 
 AT THE OPTION OF THE HOLDER AND THE HOLDER 

ELECTS TO EXERCISE SUCH RIGHT 
  

 
 The undersigned
hereby irrevocably requests and instructs the Company to repay the within Security (or the portion thereof specified below), pursuant to its terms, on the Optional Repayment Date first occurring after the date of receipt by the Company of the within
Security, at the Repayment Price specified in the within Security, to the undersigned,                     , at
                     (please print or typewrite name and address of the undersigned). 

For this option to elect repayment to be effective, the Company must receive, at the address of the Paying Agent set forth below or at
such other place or places of which the Company shall from time to time notify the Holder of the within Security, either (i) this Security with this “Option to Elect Repayment” form duly completed, or (ii) a telegram, telex,
facsimile transmission or a letter from a member of a national securities exchange or the Financial Industry Regulatory Authority, Inc. or a commercial bank or a trust company in the United States setting forth (a) the name of the Holder of the
Security, (b) the principal amount of the Security, (c) the principal amount of the Security to be repaid, (d) the certificate number or description of the tenor and terms of the Security, (e) a statement that the option to elect
repayment is being exercised, and (f) a guarantee stating that the Security to be repaid, together with this “Option to Elect Repayment” form duly completed will be received by the Paying Agent not later than five Business Days after
the date of such telegram, facsimile transmission or letter (and such Security and form duly completed are received by the Company by such fifth Business Day). The address of the Paying Agent is Wells Fargo Bank, N.A., 625 Marquette Avenue,
Minneapolis, Minnesota 55479. 
 If less than the entire principal amount of the within Security is to be repaid, specify the
portion thereof (which shall be an integral multiple of $1,000) which the Holder elects to have repaid: $            . 

  
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 If less than the entire principal amount of the within Security is to be repaid, specify the
denomination or denominations (which shall be $1,000 or an integral multiple thereof) of the Security or Securities to be issued to the Holder for the portion of the within Securities not being repaid (in the absence of any specification, one such
Security will be issued for the portion not being repaid): $            . 
 Date:
                     
 Notice: The signature
to this Option to Elect Repayment must correspond with the name as written upon page 2 of the within Security in every particular without alteration or enlargement or any change whatsoever. 

  
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 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)

  
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 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. 

  
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