Document:

EX-10.1

 Exhibit 10.1 
  

 
 November 16, 2018 

George Kegler 
 11710 Serama Dr 

St Louis, MO 63131 
 Dear George: 

Further to our discussion, I would like to confirm the compensation details with respect to your potential appointment as Chief Financial Officer. As outlined,
it is anticipated that a formal public announcement that Mallinckrodt is exploring the potential of spinning our Specialty Generics business as well as continuing to pursue other strategic options for the business will be made in early December. At
the time of this announcement, we are likely to communicate Matt as Chief Executive Officer (designate) for SpinCo and that he will step away from his responsibilities as Chief Financial Officer at which time, we will also announce your appointment
as Interim Chief Financial Officer for the Company. 
 In consideration of your appointment, the following compensation provisions will apply: 

 

	 	1.	 Salary – Your salary will increase to four hundred and forty thousand dollars ($440,000.00) per annum.

  

	 	2.	 Annual Incentive Plan (AIP) – At the time of your appointment, your AIP target will increase to 60% of
base salary. For the purpose of this interim assignment, the bonus will be calculated at 100% of target, actual payment will be calculated on a prorated basis based upon the number of days served in the role. 

 

	 	3.	 Long Term Incentive (LTI) – You will not be eligible to participate in the company’s LTI Plan,
however, for the purposes of this interim assignment you will be eligible to receive a one-time cash incentive equivalent to 100% of your annual base salary ($440,000). This payment will be made concurrent
with your final severance payment. 

 I wish to acknowledge that we have discussed and agreed to the need for flexibility in your work
location during this interim assignment. Please work directly with Mark Trudeau to agree upon your weekly schedule. 
 Following the conclusion of this
assignment, your employment with the Company will terminate, provided your employment remains in good standing, you will be eligible to receive severance under the Mallinckrodt U.S. Executive Severance Plan or its equivalent. Benefits provided to
you under this plan will be consistent with those provided to members of the Executive Committee as defined within the plan. It is understood that your termination date from the company will be no later than June 30, 2019. 

In the event of a decision by the Board of Directors not to execute a Spin, the changes to your compensation specified in points 1, 2, and 3 above will not go
into effect. Additionally, your employment with Mallinckrodt would terminate effective January 11, 2019. Under such termination, you will be eligible for severance consistent with the policy applicable for your now current position within the
organization. 
 Notwithstanding any item detailed in this letter, you will continue to be eligible to receive retention benefits described in the Third
Amended Retention Agreement dated November 15, 2018. 
 675 James S. McDonnell Blvd. • Hazelwood, MO 63042 • 314-654-2000
• mallinckrodt.com 

 

 
 I would like to take this opportunity thank you for your continued commitment to and support of Mallinckrodt. 

Please indicate your acceptance of these terms by signing and returning to me a copy of this letter. 

Kind regards, 
 /s/ Ian Watkins 

Ian Watkins 
 Chief Human Resources Officer 

Offer accepted: 
  

					
	 /s/ George Kegler
	  	 November 16, 2018
	  	
	Signature	  	Date	  	

 Disclaimer: We both recognize that your employment is at will, and that either party at its discretion may terminate this
employment arrangement at any time, with or without cause. We also recognize that this offer letter is not meant to be a contract of employment. 

675 James S. McDonnell Blvd. • Hazelwood, MO 63042 • 314-654-2000 • mallinckrodt.comWELLS FARGO &
COMPANY 8-K 

  

 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. 94988U417	PRINCIPAL AMOUNT: $____________

REGISTERED
NO. ___

 

 

WELLS
FARGO & COMPANY

 

MEDIUM-TERM
NOTE, SERIES S

 

Due
Nine Months or More From Date of Issue

 

Leveraged
Index Return Notes® Linked to an

International
Equity Index Basket

 

WELLS
FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for
value received, hereby promises to pay to CEDE & Co., or registered assigns, an amount equal to the Redemption Amount
(as defined below), in such coin or currency of the United States of America as at the time of payment is legal tender for payment
of public and private debts, on November 20, 2020 (the “Stated Maturity Date”). This Security shall not bear
any interest.

Any
payments on this Security at Maturity will be made against presentation of this Security at the office or agency of the Company
maintained for that purpose in the City of Minneapolis, Minnesota and at any other office or agency maintained by the Company
for such purpose. 

“Principal
Amount” shall mean, when used with respect to this Security, the amount set forth on the face of this Security as its
“Principal Amount.”

    	 	 	 

    	 

    

Determination
of Redemption Amount

The
“Redemption Amount” of this Security will equal:

 

		•	if
                                         the Ending Value is greater than the Starting Value: the Principal Amount plus:

	 		Principal
    Amount x Participation Rate x		Ending
    Value – Starting Value

    Starting Value				;
    

 

		•	if
                                         the Ending Value is equal to or less than the Starting Value, but greater than or equal
                                         to the Threshold Value: the Principal Amount; or

 

		•	if
                                         the Ending Value is less than the Threshold Value: the Principal Amount minus:

	 		Principal
    Amount x	Threshold
    Value- Ending Value

     Starting Value	

 

All
calculations with respect to the Redemption Amount will be rounded to the nearest one hundred-thousandth, with five one-millionths
rounded upward (e.g., 0.000005 would be rounded to 0.00001); and the Redemption Amount will be rounded to the nearest cent, with
one-half cent rounded upward.

 

“Market
Measure” or “Basket” shall mean a basket comprised of the following Basket Components, with each
Basket Component having the “Initial Component Weight” noted parenthetically: the EURO STOXX 50®
Index (40.00), the FTSE® 100 Index (20.00), the Nikkei Stock Average Index (20.00), the Swiss
Market Index (7.50), the S&P/ASX 200 Index (7.50) and the Hang Seng Index (5.00).

 

“Basket
Component” shall mean each of the EURO STOXX 50® Index, the FTSE® 100 Index,
the Nikkei Stock Average Index, the Swiss Market Index, the S&P/ASX 200 Index and the Hang Seng Index.

 

The
“Pricing Date” shall mean November 29, 2018.

 

The
“Starting Value” is 100.00.

 

The
“Threshold Value” is 90.00, which is equal to 90% of the Starting Value.

 

The
“Participation Rate” is 157%.

 

The
“Closing Level” of a Basket Component on any Market Measure Business Day means the official closing level of
such Basket Component reported by the relevant Index Publisher on such Market Measure Business Day, subject to the provisions
set forth below under “Discontinuance of a Basket Component,” “Adjustments to a Basket Component” and
“Market Disruption Events.”

 

    	 	2	 

    	 

    

 

The
“Component Ratio” for each Basket Component is equal to:

 

[the
Initial Component Weight for such Basket Component (expressed as a percentage) x 100]

the
Closing Level of such Basket Component on the Pricing Date,

 

in
each case rounded to eight decimal places and subject to the provisions set forth below under “Adjustments to the Component
Ratio for a Basket Component.” The Component Ratios of the Basket Components are as follows: the EURO STOXX 50®
Index (0.01260176), the FTSE® 100 Index (0.00284133), the Nikkei Stock Average Index (0.00089837),
the Swiss Market Index (0.00083189), the S&P/ASX 200 Index (0.00130244) and the Hang Seng Index (0.00018903). The Closing
Levels of the Basket Components on the Pricing Date are as follows: the EURO STOXX 50® Index (3,174.16),
the FTSE® 100 Index (7,038.95), the Nikkei Stock Average Index (22,262.60), the Swiss Market Index (9,015.59),
the S&P/ASX 200 Index (5,758.416) and the Hang Seng Index (26,451.03).

 

The
“Value” of the Market Measure on a Calculation Day will be equal to the sum of the products of (i) the Closing
Level of each Basket Component on such Calculation Day and (ii) the Component Ratio for such Basket Component.

 

The
“Ending Value” will be the average of the Values of the Market Measure on each Calculation Day (as defined
below) occurring during the Maturity Valuation Period (as defined below), subject to the provisions set forth below under “Market
Description Events.”

 

A
“Market Measure Business Day” means a day on which (A) each of the Eurex (as to the EURO STOXX 50®
Index), the London Stock Exchange (as to the FTSE® 100 Index), the Tokyo Stock Exchange (as to
the Nikkei Stock Average Index), the SIX Swiss Exchange (as to the Swiss Market Index), the Australian Stock Exchange (as to the
S&P/ASX 200 Index), and the Stock Exchange of Hong Kong (as to the Hang Seng Index) (or any successor to the foregoing exchanges)
are open for trading; and (B) the Basket Components or any successors thereto are calculated and published.

 

“Index
Publisher” shall mean the publisher of a Basket Component.

 

“Maturity
Valuation Period” means each of November 11, 2020, November 12, 2020, November 13, 2020, November 16, 2020 and November
17, 2020, subject to the provisions set forth below under “Market Disruption Events.”

 

“Calculation
Day” means any Market Measure Business Day during the Maturity Valuation Period on which a Market Disruption Event (as
defined below) has not occurred.

 

“Business
Day” shall mean a day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions
are authorized or required by law or regulation to close in New York, New York.

 

“Joint
Calculation Agency Agreement” shall mean the Joint Calculation Agency Agreement dated as of July 18, 2016, as amended
by the letter agreement dated as of February

 

    	 	3	 

    	 

    

26,
2018, each between the Company and the Calculation Agents, and each as may be further amended from time to time.

 

“Calculation
Agents” shall mean the Persons that have entered into the Joint Calculation Agency Agreement with the Company providing
for, among other things, the determination of the Value of the Market Measure on each Calculation Day, the Ending Value and the
Redemption Amount, which term shall, unless the context otherwise requires, include their successors under such Joint Calculation
Agency Agreement. The initial Calculation Agents shall be Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner &
Smith Incorporated. Pursuant to the Joint Calculation Agency Agreement, the Company may appoint a different Calculation Agent
from time to time after the initial issuance of this Security without the consent of the Holder of this Security and without notifying
the Holder of this Security.

 

Adjustments
to the Component Ratio for a Basket Component

The
Component Ratios for the Basket Components will not be revised subsequent to their determination on the Pricing Date, except that
the Calculation Agents may in their good faith judgment adjust the Component Ratio of any Basket Component in the event that Basket
Component is materially changed or modified in a manner that does not, in the opinion of the Calculation Agents, fairly represent
the value of that Basket Component had those material changes or modifications not been made.

Adjustments
to a Basket Component

If,
after the Pricing Date, an Index Publisher makes a material change in the method of calculating a Basket Component or in another
way that changes a Basket Component such that it does not, in the opinion of the Calculation Agents, fairly represent the level
of such Basket Component had those changes or modifications not been made, the Calculation Agents will, at the close of business
in New York, New York, on each date that the Closing Level of such Basket Component is to be calculated, make adjustments to such
Basket Component. Those adjustments will be made in good faith as necessary to arrive at a calculation of a level of such Basket
Component as if those changes or modifications had not been made, and the Calculation Agents shall calculate the Closing Level
of such Basket Component, as so adjusted.

Discontinuance
of a Basket Component

If,
after the Pricing Date, an Index Publisher discontinues publication of a Basket Component, and such Index Publisher or another
entity then publishes a substitute index that the Calculation Agents determine, in their sole discretion, to be comparable to
the original Basket Component (a “Successor Basket Component”), the Calculation Agents will substitute such
Successor Basket Component as calculated by the relevant Index Publisher or any other entity and calculate the Closing Level of
such Basket Component as described in the definition of “Closing Level” above. If the Calculation Agents select a
Successor Basket Component, the Calculation Agents will give written notice of the selection to the Trustee, to the Company, and
to the Holder hereof.

    	 	4	 

    	 

    

If
an Index Publisher discontinues publication of a Basket Component before the end of the Maturity Valuation Period and the Calculation
Agents do not select a Successor Basket Component, then on each day that would have been a Calculation Day, until the earlier
to occur of:

		•	the
                                         determination of the Ending Value; and

		•	a
                                         determination by the Calculation Agents that a Successor Basket Component is available,

the
Calculation Agents will compute a substitute Closing Level for such Basket Component in accordance with the procedures last used
to calculate such Basket Component before any discontinuance as if that day were a Calculation Day. The Calculation Agents will
make available to the Holder hereof information regarding those levels by means of Bloomberg L.P., Thomson Reuters, a website,
or any other means selected by the Calculation Agents in their reasonable discretion.

If
a Successor Basket Component is selected or the Calculation Agents calculate a level as a substitute for such Basket Component,
the Successor Basket Component or level will be used as a substitute for all purposes, including for the purpose of determining
whether a Market Disruption Event exists.

Market
Disruption Events 

“Market
Disruption Event” means, with respect to a Basket Component, one or more of the following events, as determined by the
Calculation Agents in their sole discretion:

		(A)	the
                                         suspension of or material limitation on trading, in each case, for more than two consecutive
                                         hours of trading, or during the one-half hour period preceding the close of trading,
                                         on the primary exchange where the securities included in such Basket Component trade
                                         (without taking into account any extended or after-hours trading session), in 20% or
                                         more of the securities which then compose such Basket Component or any Successor Basket
                                         Component; and

		(B)	the
                                         suspension of or material limitation on trading, in each case, for more than two consecutive
                                         hours of trading, or during the one-half hour period preceding the close of trading,
                                         on the primary exchange that trades options contracts or futures contracts related to
                                         such Basket Component (without taking into account any extended or after-hours trading
                                         session), whether by reason of movements in price otherwise exceeding levels permitted
                                         by the relevant exchange or otherwise, in options contracts or futures contracts related
                                         to the such Basket Component, or any Successor Basket Component.

For
the purpose of determining whether a Market Disruption Event has occurred:

		1)	a
                                         limitation on the hours in a trading day and/or number of days of trading will not constitute
                                         a Market Disruption Event if it results from an announced change in the regular business
                                         hours of the relevant exchange;

    	 	5	 

    	 

    

		2)	a
                                         decision to permanently discontinue trading in the relevant futures or options contracts
                                         related to a Basket Component, or any Successor Basket Component, will not constitute
                                         a Market Disruption Event;

		3)	a
                                         suspension in trading in a futures or options contract on a Basket Component, or any
                                         Successor Basket Component, by a major securities market by reason of (a) a price
                                         change violating limits set by that securities market, (b) an imbalance of orders
                                         relating to those contracts, or (c) a disparity in bid and ask quotes relating to
                                         those contracts will constitute a suspension of or material limitation on trading in
                                         futures or options contracts related to such Basket Component;

		4)	a
                                         suspension of or material limitation on trading on the relevant exchange will not include
                                         any time when that exchange is closed for trading under ordinary circumstances; and

		5)	if
                                         a Basket Component has component securities listed on the NYSE, for the purpose of clause
                                         (A) above, any limitations on trading during significant market fluctuations under
                                         NYSE Rule 80B, or any applicable rule or regulation enacted or promulgated by the NYSE
                                         or any other self-regulatory organization or the Securities and Exchange Commission of
                                         similar scope as determined by the Calculation Agents, will be considered “material.”

If
for any Basket Component (an “Affected Basket Component”), (i) a Market Disruption Event occurs on a scheduled
Calculation Day during the Maturity Valuation Period or (ii) any scheduled Calculation Day is determined by the Calculation Agents
not to be a Market Measure Business Day by reason of an extraordinary event, occurrence, declaration, or otherwise (any such day
in either (i) or (ii) being a “Non-Calculation Day”), the Calculation Agents will determine the Closing Levels
of the Basket Components for such Non-Calculation Day, and as a result, the Ending Value, as follows:

		•	the
                                         Closing Level of each Basket Component that is not an Affected Basket Component will
                                         be its Closing Level on such Non-Calculation Day; and

		•	the
                                         Closing Level of each Basket Component that is an Affected Basket Component for the applicable
                                         Non-Calculation Day will be the Closing Level of such Basket Component on the next Calculation
                                         Day that occurs during the Maturity Valuation Period. For example, if the first and second
                                         scheduled Calculation Days during the Maturity Valuation Period are Non-Calculation Days,
                                         then the Closing Level of such Basket Component on the next Calculation Day will also
                                         be the Closing Level for such Basket Component on the first and second scheduled Calculation
                                         Days during the Maturity Valuation Period. If no further Calculation Days occur after
                                         a Non-Calculation Day, or if every scheduled Calculation Day during the Maturity Valuation
                                         Period is a Non-Calculation Day, then the Closing Level of such Basket Component for
                                         that Non-Calculation Day and each following Non-Calculation Day (or for all the scheduled
                                         Calculation Days during the Maturity Valuation Period, if applicable) will be determined
                                         (or, if not determinable, estimated) by the Calculation Agents in a commercially reasonable
                                         manner on the last scheduled Calculation Day

    	 	6	 

    	 

    

during
the Maturity Valuation Period, regardless of the occurrence of a Market Disruption Event on that last scheduled Calculation Day.

Calculation
Agent

The
Calculation Agents have the sole discretion to make all determinations regarding this Security as described in this Security,
including determinations regarding the Starting Value, the Threshold Value, the Value of the Market Measure on each Calculation
Day, the Ending Value, the Redemption Amount, any Market Disruption Events, any Successor Basket Component, Market Measure Business
Days, Business Days, Calculation Days, Non-Calculation Days, and determinations related to the discontinuance of a Basket Component
and the adjustments to a Basket Component or its Component Ratio. Absent manifest error, all determinations of the Calculation
Agents will be conclusive for all purposes and final and binding on the Holder hereof and the Company, without any liability on
the part of the Calculation Agents.

The
Company covenants that, so long as this Security is Outstanding, there shall at all times be a Calculation Agent (which shall
be a broker-dealer, bank or other financial institution) with respect to this Security.

Tax
Considerations

The
Company agrees, and by acceptance of a beneficial ownership interest in this Security each Holder of this Security will be deemed
to have agreed (in the absence of a statutory, regulatory, administrative or judicial ruling to the contrary), for United States
federal income tax purposes to characterize and treat this Security as a prepaid derivative contract that is an “open transaction.”

Redemption
and Repayment

This
Security is not subject to redemption at the option of the Company or repayment at the option of the Holder hereof prior to November
20, 2020. This Security is not entitled to any sinking fund.

Acceleration

If
an Event of Default, as defined in the Indenture, with respect to this Security shall occur and be continuing, the Redemption
Amount (calculated as set forth in the next sentence) of this Security may be declared due and payable in the manner and with
the effect provided in the Indenture. The amount payable to the Holder hereof upon any acceleration permitted under the Indenture
will be equal to the Redemption Amount described under “Determination of Redemption Amount,” determined as if the
date of acceleration were the sole Calculation Day.

__________________

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.

    	 	7	 

    	 

    

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.

 

 

    	 	8	 

    	 

    

IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed.

DATED: 

 

	 	WELLS FARGO & COMPANY
	 	 	 
	 	By:	 
	 	 	 
	 	 	Its:	 
	 	 	 
	 	 	 
	 	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	 

 

 

    	 	9	 

    	 

    

[Reverse
of Note]

 

 

WELLS
FARGO & COMPANY

 

MEDIUM-TERM
NOTE, SERIES S

 

Due
Nine Months or More From Date of Issue

 

Leveraged
Index Return Notes® Linked to an

International
Equity Index Basket

 

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 February 21, 2017, 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 S, of the Company. The amount payable on the Securities of this series may be determined by reference to the performance
of one or more equity-, commodity- or currency-based indices, exchange traded funds, securities, commodities, currencies, statistical
measures of economic or financial performance, or a basket comprised of two or more of the foregoing, or any other market measure
or may 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.

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.

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 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

    	 	10	 

    	 

    

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. Solely for the purpose
of determining whether any consent, waiver, notice or other action or Act to be taken or given by the Holders of Securities pursuant
to the Indenture has been given or taken by the Holders of Outstanding Securities in the requisite aggregate principal amount,
the principal amount of this Security will be deemed to be equal to the amount set forth on the face hereof as the “Principal
Amount” hereof. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder
and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

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, 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 $10 or any amount in excess thereof which is
an integral multiple of $10.

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, having the same date
of issuance, Stated Maturity Date and other terms and of authorized denominations aggregating a like amount. 

    	 	11	 

    	 

    

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 Redemption Amount 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 Redemption Amount, 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.

    	 	12	 

    	 

    

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)

 

    	 	13	 

    	 

    

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.

 

 

    	 	14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}]]