Document:

exv10w35

 

Exhibit 10.35

Non-Employee Director Compensation Package

(for new directors joining the board after March 1, 2004)

Effective February 16, 2005

Initial Compensation – Restricted Stock Grant

$100,000 of restricted stock based on fair market value at grant (that is, $100,000 divided
by the closing price = the number of shares)

	 	•  	Vesting ratably over a three-year period on each annual anniversary of the
date of grant

Pro rated portion of Annual Stipend and Committee Chair Fee for period of year until next
annual shareholder meeting

Annual Compensation

Stipend — $30,000 either in cash or restricted stock, at director’s election

Audit Committee Chair Fee — $10,000

Compensation Committee and Governance and Nominating Committee Chair Fee — $5,000

Board Meeting Fee — $1,000 per meeting attended

Committee Meeting Fee — $500 per meeting attended

Annual Restricted Stock Grant — $25,000 of stock (at time of grant), with three-year
vesting schedule, issued annually on date of annual shareholder meeting, beginning with the
first annual shareholder meeting that occurs after the director’s first anniversary of
being elected

Reimburse director for cost of purchasing a Life Time Fitness “family” membership

Terms

      Restricted stock will be granted under the Life Time Fitness 2004 Long-Term Incentive Plan or
such other equity compensation plan as in effect from time to time.

      Stipend, if taken in cash, to be paid 50% on the date of shareholder election and 50% on the
six-month anniversary of such date. If stipend is taken in restricted stock, grant will be made on
date of shareholder election, at that date’s closing market price (e.g. $30,000 divided by the
closing market price of Life Time Fitness stock on such date equals the number of restricted shares
of stock to be granted). Such restricted stock will vest on the one-year anniversary of such date.

      Committee Chair Fee to be paid in cash, 50% on the date of shareholder election and 50% on the
six-month anniversary of such date.

      Meeting Fees to be paid in cash at the end of each fiscal quarter for all meetings attended
during such quarter.exv10wxay

 

Exhibit 10(a)

WELLS FARGO LONG-TERM INCENTIVE COMPENSATION PLAN

NON-QUALIFIED STOCK OPTION AGREEMENT

	 	 	 
	Name:

	 	Soc. Sec. No.:
	

	 	 
	Grant Date:

	 	Expiration Date:      [10 years from Grant Date]
	

	 	 
	Shares:

	 	Exercise Price:

1. Grant of Option. Wells Fargo & Company (the “Company”) has granted to you an option
(“Option”) to purchase                      shares (the “Shares”) of Wells Fargo & Company common stock (“Common
Stock”). The Option is granted subject in all respects to the terms of the Company’s Long-Term
Incentive Compensation Plan (the “Plan”).

2. Term, Vesting and Exercise of Option. The term of this Option commences on [insert Grant
Date] and, except as provided in paragraph 3 below, ends on [insert Expiration Date] ,
provided you are continuously employed by the Company or an Affiliate (“Wells Fargo”). This
Option is “vested” and exercisable in full as of [insert Grant Date]. If your employment with
Wells Fargo is terminated, the Option may be exercised only as described in paragraph 3 below.
While you are alive, the Option may be exercised only by you or your legal representative.

To exercise all or part of the Option you must deliver a “Notice of Exercise,” in such form as the
Company authorizes, along with payment as described herein of the exercise price and all applicable
withholding taxes. You must pay the exercise price on the day you exercise the Option (a) in cash,
(b) in whole shares of Common Stock valued at their Fair Market Value (the prior trading day’s
closing price), or (c) by delivering, with your Notice of Exercise, irrevocable instructions to a
broker to promptly deliver to the Company the amount of the exercise price and all applicable
withholding taxes. If Stock is used to pay the exercise price (“swap transaction”), the Stock used
(i) must have been owned by you for at least six months prior to the date of exercise or purchased
by you in the open market; and (ii) must not have been used in a stock-for-stock swap transaction
within the preceding six months. You shall not have any rights as a stockholder with respect to the
Shares of Common Stock subject to the Option until you have exercised the Option for such Shares.

3. Retirement, Disability, Death or Other Termination of Employment. If your termination of
employment is due to Retirement, your Option will be exercisable until the expiration date or until
one year after your date of death, whichever occurs first. If you become permanently disabled
while you are employed by Wells Fargo, then your Option will be exercisable until one year after
your date of death or until the Option expires, whichever occurs first. If you die while you are
employed by Wells Fargo, the beneficiary as set forth in the Plan may exercise the Option until one
year after the date of your death or until the Option expires, whichever occurs first.

If you leave Wells Fargo’s employment for any reason other than death, permanent disability,
Retirement, or discharge for cause, you may exercise the Option at any time within three (3) months
after the date of termination. If you are discharged for cause, the Option will expire upon
receipt by you of oral or written notice of termination.

4. Compliance and Withholding Taxes. The issuance of Shares upon the exercise of the Option shall
be subject to compliance by the Company and you with all applicable requirements of law relating
thereto, including withholding tax obligations, and with all applicable regulations of any stock
exchange on which the Common Stock may be listed at the time of such issuance. You agree to
satisfy all withholding tax obligations applicable to the acquisition of Shares under the Option or
the disposition of such Shares that the Company deems necessary. Income taxes are computed based
on the difference between the Fair Market Value of the Shares acquired as of the date of exercise
and the exercise price for those Shares. Taxes may be paid either in cash or, if you elect, by
having the Company withhold from the Shares to be issued a number of Shares (valued at their Fair
Market Value as of the date of exercise) necessary to satisfy the taxes. The Company is not
obligated to exercise the Option and/or deliver the Shares until all payment obligations are met.

5. Transferability of Option. The Option may be transferred only by will, the laws of descent
and distribution or by your designating a beneficiary in accordance with Section 10.1(e) of the
Plan.

6. No Agreement for Wells Fargo to Continue Your Employment. Nothing in this Agreement gives you
any right to continued employment and Wells Fargo may terminate you at any time for any reason.

7. General Restrictions. The Company may delay the exercise of the Option if it determines that
(a) the Shares subject to the Option should be listed, registered or qualified on any securities
exchange or under any law, or (b) the consent of a regulatory body is desirable.

8. Additional Provisions and Interpretation of this Agreement. This Agreement is subject to the
provisions of the Plan. Capitalized terms not defined in this Agreement are used as defined in the
Plan. If the Plan and this Agreement are inconsistent, provisions of the Plan will govern.
Interpretations of the Plan and this Agreement by the Committee are binding on you and the
Company.exv10wxdy

 

Exhibit 10(d)

WELLS FARGO & COMPANY

PERFORMANCE-BASED COMPENSATION POLICY

(Includes Amendments Through November 23, 2004)

     1. Purpose. The purpose of the Wells Fargo & Company Performance-Based
Compensation Policy (the “Policy”) is to establish one or more performance goals for payment of
incentive compensation other than stock options and the maximum amount of such incentive
compensation that may be paid to certain executive officers. It is the intention of the Section
162(m) Committee (the “Committee”) of the Board of Directors of the Company that incentive
compensation awarded to each Covered Executive Officer (as defined below) be deductible by the
Company for federal income tax purposes in accordance with Section 162(m) of the Internal Revenue
Code of 1986, as amended (the “Code”), any regulations promulgated thereunder, and ruling or
advisory opinions published by the Internal Revenue Service related thereto (the “Regulations”).

     2. Covered Executive Officers. This Policy shall apply to any individual (a
“Covered Executive Officer”) who, on the last day of a taxable year is (a) the chief executive
officer of the Company or is acting in such capacity, or (b) is among the four highest compensated
executive officers (other than the chief executive officer) of the Company. Whether an individual
is the chief executive officer or among the four highest compensated executive officers shall be
determined pursuant to the executive compensation disclosure rules under the Securities Exchange
Act of 1934.

     3. Incentive Compensation Award/Establishment of Performance Goals. An
incentive compensation award to a Covered Executive Officer may be paid in the form of cash, stock,
restricted share rights, or restricted stock, or any combination thereof. Payment of an incentive
compensation award to a Covered Executive Officer will be contingent upon the attainment of the
performance goal or goals for the Performance Period established for such Covered Executive Officer
by the Committee as provided herein. The Committee shall retain the discretion to reduce the
incentive compensation award payable to a Covered Executive Officer, notwithstanding attainment of
any performance goal. The incentive compensation award determined and approved by the Committee to
be payable to the chief executive officer of the Company shall be submitted to the Board of
Directors for ratification.

     The Committee shall establish in writing one or more performance goals to be attained
(which performance goals may be stated as alternative performance goals) for a Performance Period
for each Covered Executive Officer on or before the latest date permitted under Section 162(m) of
the Code or the Regulations. Performance goals may be based on any one or more of the following
business criteria (as defined in paragraph 4 below) as the Committee may select:

	   	Ÿ Earnings Per Share
	 
	   	Ÿ Business Unit Net Earnings
	 
	   	Ÿ Return on Realized Common Equity

     The maximum amount of an incentive compensation award for any Performance Period to any
Covered Executive Officer shall be a dollar amount not to exceed one-half of one percent (0.5%) of
the Company’s Net Income (as defined below).

     4. Definitions. For purposes of this Policy and for determining whether a
particular performance goal is attained, the following terms shall have the meanings given them
below:

     (a) The term “Business Unit Net Earnings” shall mean the net earnings of the
business unit of the Company managed by a Covered Executive Officer, as determined in
accordance with generally accepted accounting principles, adjusted in accordance with the
Company’s management accounting practices and conventions in effect at the beginning of the
Performance Period, and as further adjusted in the same manner as provided below for Net
Income.

 

 

     (b) The term “Earnings Per Share” shall mean the Company’s diluted earnings per
share as reported in the Company’s consolidated financial statements for the Performance
Period, adjusted in the same manner as provided below for Net Income.

     (c) The term “Net Income” shall mean the Company’s net income for the applicable
Performance Period as reported in the Company’s consolidated financial statements, adjusted to
eliminate the effect of (1) losses resulting from discontinued operations; (2) extraordinary
gains or losses; (3) the cumulative effect of changes in generally accepted accounting
principles; and (4) any other unusual or non-recurring gain or loss which is separately
identified and quantified.

     (d) The term “Performance Period” shall mean a calendar year, commencing January
1 and ending December 31.

     (e) The term “Return on Realized Common Equity” shall mean the Net Income of the
Company on an annualized basis less dividends accrued on outstanding preferred stock, divided
by the Company’s average total common equity excluding average accumulated comprehensive
income as reported in the Company’s consolidated financial statements for the Performance
Period.

     5. Applicability of Certain Provisions of the Long-Term Incentive Compensation
Plan and the Deferred Compensation Plan to Incentive Compensation Awards. An incentive
compensation award paid in stock, restricted share rights, or restricted stock pursuant to this
Policy shall be governed by the provisions (other than provisions with respect to the computation
of such award) of the Company’s Long-Term Incentive Compensation Plan. Deferral of an incentive
compensation award paid in cash under this Policy shall be made pursuant to the provisions of the
Company’s Deferred Compensation Plan.

     6. Effective Date; Amendment and Termination. Subject to approval by the
stockholders of the Company, this Policy shall be effective as of January 1, 2003, and shall
supercede the performance-based compensation policy approved by the stockholders on April 28, 1998.
No incentive compensation award shall be paid pursuant to this Policy unless this Policy has been
approved by the stockholders of the Company. The Committee may at any time terminate, suspend,
amend or modify this Policy except that stockholder approval shall be required for any amendment or
modification to this Policy that, in the opinion of counsel, would be required by Section 162(m) of
the Code or the Regulations.

11/23/04

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