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Prepared by MERRILL CORPORATION

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Exhibit 4.19  

 
 

GUARANTEE    
  

    This Guarantee is made as of December 31, 2001, by Wells Fargo & Company, a Delaware corporation (the "Guarantor"), to and for the benefit of
participants (each, a "Participant") in the Nonqualified Deferred Compensation Plan for Independent Contractors (the "Plan") of WF Deferred Compensation Holdings, Inc., a wholly-owned
subsidiary of the Guarantor (the "Plan Sponsor"). 

    1.  Guarantee.  For value received, the Guarantor unconditionally and irrevocably guarantees to each
Participant and to each Participant's beneficiaries under the Plan, to the fullest extent permitted by law, the payment when due of all present and future payment obligations of the Plan Sponsor under
the Plan (the "Obligations"), such payment by the Guarantor of an Obligation to be made immediately upon the failure of the Plan Sponsor to pay the Obligation in accordance with the terms and
conditions thereof. 

    2.  Nature of Guarantee.  This Guarantee is an absolute, unconditional and continuing guarantee of
payment of the Obligations and continues in force and is binding upon the Guarantor until all of the Obligations are paid in full. This Guarantee is an agreement of payment and not merely of
collection. If the Plan Sponsor fails to pay an Obligation in accordance with the terms thereof and the Guarantor fails to pay the Obligation immediately upon the Plan Sponsor's failure to pay, the
Participant holding the Obligation or the Participant's beneficiary, as the case may be, may bring suit directly against the Guarantor for payment of the Obligation without first exhausting remedies
against the Plan Sponsor. The Guarantor reserves the right to assert defenses that the Plan Sponsor has to payment of an Obligation other than defenses arising from the bankruptcy or insolvency of the
Plan Sponsor and defenses expressly waived by the Guarantor hereunder. 

    3.  Guarantee Unsecured and Unfunded.  This Guarantee is a general unsecured obligation of the Guarantor.
No Participant or any beneficiary of any Participant has as a result of this Guarantee any rights greater than the rights of general unsecured creditors of the Guarantor, nor does any Participant or
any beneficiary of any Participant have as a result of this Guarantee any lien, prior claim or other security interest in any assets, funds or property of the Guarantor. The Guarantor is not obligated
to set aside or earmark any assets or funds or to establish or maintain any fund, escrow or trust for purposes of the payment of any amounts payable by the Guarantor under this Guarantee. 

    4.  No Restrictions on Guarantor's Business.  This Guarantee does not include any covenant that restricts
in any way the business of the Guarantor or any of its subsidiaries including the Plan Sponsor. Without limiting the generality of the foregoing, this Guarantee does not limit, restrict or prevent the
Guarantor from (a) issuing any debt, obligations, commitments or securities that have priority of payment over the Guarantor's obligations under this Guarantee or that are secured by any assets
or property of the Guarantor, (b) entering into a merger, consolidation or other business combination, or (c) effecting any restructuring or reorganization of the Guarantor. 

    5.  Termination of Guarantee.  The Guarantor may terminate this Guarantee 30 days after delivering
notice to the Plan Sponsor except that this Guarantee remains in full force and effect with respect to Obligations outstanding or contracted or committed for prior to the 30th day after notice is
given to the Plan Sponsor until all such Obligations have been paid in full. 

    6.  Successors and Assigns of Guarantor.  This Guarantee is binding on any successor of the Guarantor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Guarantor to the same extent that the Guarantor would be
required to perform as if no such succession had taken place. 

    7.  Governing Law.  This Guarantee is to be governed by and construed in accordance with the laws of the
state of California applicable to contracts and obligations made in such state and any applicable laws of the United States of America. 

    IN WITNESS WHEREOF, this Guarantee has been duly executed and delivered by the Guarantor as of the date first above written. 

	 	 	WELLS FARGO & COMPANY
	

 	
 	

By:	
 	

/s/ PATRICIA R. CALLAHAN   
 Patricia R. Callahan

Executive Vice President

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GUARANTEE<Page>

                                                                    EXHIBIT 10.9

                            [Translated From Hebrew]

                                                                   Date: 1/11/93

To:
The Industrial Research and Development Institute
P.O.B. 2179
JERUSALEM

Dear Sir,

Re:   LETTER OF UNDERTAKING AND NOTICE OF COMMENCEMENT OF IMPLEMENTATION OF
      APPROVED R&D PROGRAM

Subject of Research CELL SCANNING APPARATUS

File no.  165/7

We hereby notify you that we have begun to implement the approved program, in
accordance with the above referenced letter of approval, on 1.6.93.

We declare that we are aware that the above referenced grant will be paid
subject to the terms of the approval.

1.    The attached budget, inclusive of all details, conditions and attachments,
      constitutes a binding framework, and expenses that deviate from this
      detailed framework will not be recognized, unless approved by the
      Institute for Industrial Research.

2.    The factory will be entitled to an advance in an amount not to exceed 25%,
      contingent upon the factory having made a real start in implementing the
      program, or to payment in accordance with a financial report.

3.    All additional payments will be made in accordance with a detailed
      financial report that is in line with the procedures of the Institute for
      Industrial Research. The payment will be made after examination of said
      report. The recipient of the grant must submit a financial report at least
      once every 3 months and a technical report at least once every half year.

4.    The financial report will be approved as being correct by an authorized
      representative of the factory, and documents evidencing actual payment to
      subcontractors must be attached thereto, if such expense is reported.

5.    The advance will be offset against the payments that are due on account of
      the financial reports, with the exception of 8.3%, which will remain as a
      current advance.

6.    All payments within the context of the approved grant will be deemed
      payment on account alone, pending receipt of the final financial report.
      By the final report, no more than 90% (including the standing advance) of
      the grant will be paid, and the balance will be paid only after receipt of
      the conclusive final report and technical report, together with
      confirmation by an accountant acting for the company. The payment will be
      made after the reports are examined by professional evaluators acting for
      the Institute for Industrial Research.

<Page>

7.    For a period of 5 years from the commencement of implementation of the
      approved program, or 4 years from submission of the final financial
      report, whichever is later, the company's accounts, including the
      company's balance sheet, will be open for inspection by or on behalf of
      the Institute for Industrial Research.

8.    The Institute for Industrial Research will be entitled to offset any and
      all sums which it is owed by the recipient of the support, against the
      grant which is hereby approved.

9.    The recipient of the grant will not be permitted to terminate
      implementation of the program, other than with the written approval of the
      Head of the Institute for Industrial Research. In the event of the program
      being terminated without approval, the Institute for Industrial Research
      will be permitted to demand repayment of the grant, together with interest
      and linkage according to law.

10.   The recipient of the grant must submit a final financial report, approved
      by an accountant acting for the company, as well as a final technical
      report, in respect of the approved program, no later than 3 months
      following the completion of the program as approved.

11.   The Institute for Industrial Research will be permitted to demand
      additional technical reports, throughout the period during which the
      program is being implemented.

12.   The above conditions do not derogate from any statutory provision or from
      any law that apply to provision of this grant.

13.   No expense will be recognized unless the consideration was paid, with the
      exception of allowance expenses such as were approved.

14.   We hereby give notice that we have begun to manage (a) separate and
      special account(s) in the context of our financial book-keeping, for the
      purpose of this R&D, in which they are chronological, direct, preliminary,
      superficial and solely in accordance with documentation.

15.   The Institute for Industrial Research will be permitted to demand interest
      and linkage differentials according to law on any sum which it is owed by
      the recipient of the grant.

16.   We are aware of our obligation to pay royalties in accordance with the
      provisions of the Encouragement of Research and Development in Industry
      Act, Section 21, and of the Regulations for the Encouragement of Research
      and Development in Industry (Royalties Rates and Guidelines for Payment,
      5747 - 1987).

Note:

The appropriate forms, as well as the directions and procedures for managing
accounts for R&D purposes and for submitting financial reports to the
Scientist's Office, as detailed, may be obtained from the Institute for
Industrial Research.

                        Yours Sincerely,

[signatures]      [names]     Financial Officer [Stamp
                              CEO               & Signature]

/s/                           /s/

Signature         Name        Title             Factory Stamp

(Signature of a party authorized to bind the factory).

                                      -2-

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