Document:

exv10wc

Exhibit 10(c)

	 	 	 

	

	 	WELLS FARGO BONUS PLAN

The Plan is amended effective January 1, 2011 and supersedes the Wells
Fargo Bonus Plan originally effective January 1, 2000, subsequently clarified
effective January 1, 2004 and January 1, 2006, amended and restated effective
January 1, 2008, amended effective January 1, 2009 and amended effective
January 1, 2010. Participants, incentive opportunities and Performance
Measures shall be identified annually.

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PURPOSE OF THE PLAN

The purpose of the Wells Fargo Bonus Plan (the “Plan”) is to motivate a select group of
management, supervisory and individual contributors to achieve superior results for Wells
Fargo & Company and its subsidiaries (“Wells Fargo”). The Plan is a discretionary incentive
plan designed to provide Participants with incentive compensation opportunities that focus
on individual accountability for appropriate risk management and full compliance with
applicable laws and regulations, as well as individual and team contributions through the
measurement of meaningful performance goals that are consistent with Wells Fargo’s corporate
and business unit objectives.

The determination and payment of any incentive under the Plan is subject to the conditions
and restrictions imposed under any applicable law, rules and regulations. A Participant’s
rights to or receipt of compensation under the Plan may be limited, modified, cancelled or
recovered to ensure compliance with all such applicable laws, rules, regulations and
guidance that may be issued from time to time. In addition, the Plan Administrator and/or
Wells Fargo (subject to the authority of the Human Resources Committee of Wells Fargo &
Company’s Board of Directors (the “HRC”)) has full discretionary authority to adjust or
amend a Participant’s incentive opportunity or recommended payout under the Plan at any
time.

This document is comprised of three sections:

1.   Plan Eligibility

2.   Incentive Components

3.   Plan Administration

For questions related to this document, policies or the administration of the Plan, please
contact your Human Resources representative.

PLAN ELIGIBILITY

	A.	 	Plan Eligibility
	 
	 	 	Wells Fargo management, supervisors, individual contributors and other groups of
team members who are in a position to control or influence business results are
eligible to participate in the Plan (“Participants”). Business unit managers, in
consultation with their Human Resources partners, are responsible for identifying
Participants within their business units who are eligible to participate in the
Plan.

	 
	B.	 	Plan Qualifiers.
	 
	 	 	For purposes of this Plan, a “Disqualifying Factor” is an event, the occurrence of
which immediately invalidates a Participant’s opportunity for an incentive award. If
a Participant’s incentive opportunity is subject to a Disqualifying Factor and the
event occurs, the Participant shall have no incentive opportunity for that
particular Plan Year.

	 	1.	 	A Plan Participant must be employed by Wells Fargo as of the
last day of the Plan Year in order to be eligible for an incentive award under
the Plan, unless otherwise noted below or in the Plan Administration section.
Exceptions may be made if the 

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	 	 	 	termination is a result of the Participant’s
retirement, death or a qualifying event under the Wells Fargo & Company
Salary Continuation Pay Plan as set forth in the leave of absence or death or
retirement policies in the Plan Administration section.

	 
	 	2.	 	A Plan Participant must receive a performance rating of 3 or
greater for the applicable Plan Year to be considered for an incentive award,
unless approved for consideration by the Operating Committee member and Senior
Human Resources Leader for the team member’s business group.

	 
	 	3.	 	The Corporate Financial Performance goal (as determined by the
HRC) (the “Corporate Performance Goal”) must be met for payout to occur under
this Plan. If the Corporate Performance Goal is not met, no bonuses will be
paid unless specifically authorized by the HRC. In addition, if Wells Fargo
achieves or exceeds the Corporate Performance Goal, the HRC reserves the
authority to adjust bonuses, up or down, in its discretion.

	 	Business unit managers should work with their Human Resources representative to
identify any other Disqualifying Factors that may impact a Participant’s eligibility
under the Plan.

	 
	 	In addition to the Disqualifying Factors described above, a Participant’s incentive
opportunity under the Plan may be adjusted or denied, regardless of meeting
individual Performance Measures or the Company meeting the Corporate Performance
Goal, for unsatisfactory performance or non-compliance with or violation of Wells
Fargo’s:

	 	1.	 	Code of Ethics and Business Conduct;
	 
	 	2.	 	Information Security Policy, and/or
	 
	 	 3.	 	Compliance and Risk Management Accountability Policy.

INCENTIVE COMPONENTS

Awards under the Plan are made in the sole and absolute discretion of Wells Fargo and the
Plan Administrator, with recommendations from business unit managers and approvals from
senior management. There is no guarantee that an incentive of any amount will be awarded to
any Participant. To the extent an incentive may be payable, incentive recommendations
should be consistent with the following guidelines:

	 	 	 	 	 	 	 

	Incentive 

Opportunity 

Ranges	 	The Incentive Opportunity Range is the range of possible payout amounts. For
purposes of the Plan, the bottom of the Incentive Opportunity Range is always
0; however, each position has a pre-identified threshold, target and maximum
incentive opportunity. The threshold and maximum are a range around the
target:

	 
	 	 	 	 	 	 
	 

	 	•
	 	Threshold
	 	- Generally, 50% of the target award
	 

	 	 	 	 	 	- Satisfactory performance that falls short of target.
	 
	 	 	 	 	 	 
	 

	 	•
	 	Target
	 	- 100% of the target award
	 

	 	 	 	 	 	- Good, commendable on plan performance.

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	 	•
	 	Maximum
	 	- Generally, 150% of the target award
	 

	 	 	 	 	 	- Performance that exceeds expectations.
	 
	 	 	 	 	 	 
	Performance Measures	 	A Performance Measure defines the action or resultant performance expected of
a Participant in a given Plan Year and should always reinforce that control,
profitability and growth must come in that order. In defining a Performance
Measure, careful consideration should be given to identifying the excessive
risks the Participant might be incented to take that Wells Fargo would not
want and the associated time horizons. Performance Measures are commonly
referred to as “MBOs” or Management Business Objectives.

	 
	 	 	 	 	 	 
	 	 	Performance Measures may vary from year to year, from position to position or
from one Participant to another. Typically each Participant should have
three to five measures set by their business unit manager.

	 
	 	 	 	 	 	 
	 	 	Performance Measures should be established for each Participant to be
effective as of the beginning of the Plan Year. All Performance Measures
and incentive recommendations are subject to review and modification at
higher levels of the organization.

	 
	 	 	 	 	 	 
	 	 	Some characteristics of Performance Measures:
	 
	 	 	 	 	 	 
	 	 	•	 	Performance Measures should include identifiable activities and/or
results for each level of achievement. Most Performance Measures should have
at least three defined Performance Levels: Threshold, Target and Maximum.

	 
	 	 	 	 	 	 
	 	 	•	 	At least one Performance Measure should have a financial objective
that is linked to business group objectives. This measure can be set up as a
distinct MBO or an additional Plan Qualifier.

	 
	 	 	 	 	 	 
	 	 	•	 	One Performance Measure may be based on the Corporate Performance
Goal. The appropriate weighting will be determined by the business unit
manager.

	 
	 	 	 	 	 	 
	 	 	For Control Functions (including Compliance, Risk Management, Finance, Human
Resources and Legal), MBO guidelines are developed at the Corporate level to
ensure appropriate and consistent risk and control-based MBOs commensurate
with the objectivity and independence required by these roles.

	 
	 	 	 	 	 	 
	Measure Weighting	 	Performance Measures may be weighted equally or weighted individually to
correspond with the Participant’s accountability, strategic and tactical
priorities, and/or the difficulty of achieving the goal.

	 
	 	 	 	 	 	 
	 	 	The scores for multiple Performance Measures are aggregated to determine

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	 	 	the final incentive recommendation, subject to the Plan Qualifiers and other
terms of the Plan.

	 
	 	 	 	 	 	 
	Award
 Calculation 

and Payment	 	Performance shall be evaluated as soon as practicable following completion of
the Plan Year by the Participant’s business unit manager and/or any other
manager responsible for reviewing incentive recommendations in the
Participant’s business unit. Lines of business are allocated incentive
compensation pools used as guidelines to determine the appropriate amount of
aggregate incentive compensation that should be paid at the business level.
Establishment of the pool is not a guarantee that bonuses will be paid to
Participants nor does it guarantee the amount of any bonus payable to
Participants. Since bonuses under the Plan are discretionary, lines of
business may pay out all or a portion of their pools, subject to the terms
and conditions of the Plan.

	 
	 	 	 	 	 	 
	 	 	All awards under the Plan are subject to the following guidelines:

	 
	 	 	 	 	 	 
	 	 	•	 	Each Performance Measure is evaluated individually following the end
of the Plan Year. Provided the Plan Qualifiers and other terms of the Plan
have been met, the Participant’s incentive recommendation for a Plan Year is
determined by adding the values determined for each Performance Measure
taking into consideration any assigned weighting. The incentive
recommendation should be within the Incentive Opportunity Range identified
for the Participant’s position, unless the Participant’s business unit
manager or the Plan Administrator exercise their discretion to modify the
award as described below.

	 
	 	 	 	 	 	 
	 	 	•	 	Without limiting the discretion of Wells Fargo or the Plan
Administrator, a Participant’s incentive recommendation may be determined to
be 0 or increased by up to 15% of the Incentive Opportunity Range, on a
discretionary basis by the Participant’s business unit manager, subject to
the approval of the Group Head for the Participant’s line of business and the
Plan Administrator. In no event may an award exceed 115% of the maximum
identified in the Incentive Opportunity Range unless approved by the Plan
Administrator.

	 
	 	 	 	 	 	 
	 	 	•	 	Incentive awards are generally calculated as a percentage of a
Participant’s base salary and are subject to approval of the Group Head for
the Participant’s line of business.

	 
	 	 	 	 	 	 
	 	 	•	 	Incentive awards will be paid no later than March 15th of the
calendar year following the end of the Plan Year.

	 
	 	 	 	 	 	 
	 	 	•	 	Awards may be paid in the form of short-term cash or long-term awards
(cash or equity), or a combination thereof, in the HRC’s discretion and may
be adjusted to match the time horizon of risk outcomes. To the extent the
HRC directs the Company to pay all or a portion of an award in the form of an
equity-based award

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	 	 	 	 	under the Wells Fargo & Company Long-Term Incentive
Compensation Plan (the “LTICP”), the equity-based award
will in all cases be
conditioned upon and subject to the approval of the HRC and be subject to
such terms and conditions as approved by the HRC in accordance with the
provisions of the LTICP and reflected in the applicable award agreement.

PLAN ADMINISTRATION

	A.	 	Plan Administrator
	 
	 	 	The Plan Administrator is the Executive Vice President and Director of Human Resources.
The Plan Administrator has full discretionary authority to administer and interpret the
Plan and may, at any time, delegate to personnel of Wells Fargo such responsibilities as
he or she considers appropriate to facilitate the day-to-day administration of the Plan.
The Plan Administrator also has the full discretionary authority to adjust or amend a
Participant’s incentive opportunity or recommended payout under the Plan at any time
subject to the authority of the HRC to adjust bonuses as described herein.

	 
	 	 	Plan commitments or interpretations (oral or written) by anyone other than the Plan
Administrator or one of his/her delegates are invalid and will have no force or effect
upon the policies and procedures set forth in this Plan.

	 
	B.	 	Plan Year
	 
	 	 	Participant performance is measured and financial records are kept on a “Plan Year”
basis. The Plan Year is the 12-month period beginning each January 1 and ending on the
following December 31, unless the Plan is modified, suspended or terminated.

	 
	C.	 	Disputes
	 
	 	 	If a Participant has a dispute regarding his/her incentive award under the Plan, the
Participant should attempt to resolve the dispute with the manager of his/her business
unit. If this is not successful, the Participant should prepare a written request for
review addressed to the Participant’s Human Resources representative. The request for
review should include any facts supporting the Participant’s request as well as any
issues or comments the Participant deems pertinent. The Human Resources representative
will send the Participant a written response documenting the outcome of this review in
writing no later than 60 days following the date of the Participant’s written request.
(If additional time is necessary, the Participant shall be notified in writing.) The
determination of this request shall be final and conclusive upon all persons.

	 
	D.	 	Amendment or Termination
	 
	 	 	The Board of Directors of Wells Fargo & Company (the “Company”), the HRC, the Company’s
President, any Vice Chairman, or the Director of Human Resources may amend, suspend or
terminate the Plan or any incentive opportunity or recommendation at any time, for any
reason. Action taken on behalf of the Company may be taken by the Chairman, President,
Director of Human Resources or Director of Compensation and Benefits of the Company.

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	E.	 	Leaves of Absence
	 
	 	 	Incentive recommendations under the Plan may be pro-rated for Participants who go on a
leave of absence provided the terms and conditions of the Plan have been satisfied, the
Participant actively worked at least three months during the Plan Year and the
Participant’s performance contributed towards the achievement of some or all of the
Participant’s Performance Measures. If a Participant’s performance during the Plan Year
contributed towards the achievement of all of the Participant’s Performance Measures,
the Participant’s incentive recommendation should be evaluated as if the Participant had
not gone on leave. Business units should apply these criteria consistently to all
Participants.

	 
	 	 	For Participants who receive notice of a qualifying event under the Wells Fargo &
Company Salary Continuation Pay Plan, the Notice Period (as defined by that plan) should
be considered in determining whether the Participant satisfies the three-month “actively
at work” requirement. Incentive recommendations will be determined following the end of
the Plan Year and are subject to the other terms and conditions of the Plan.

	 
	F.	 	Changes in Employment Status

	 	1.	 	Employees (i) hired or (ii) transferred to a position that is
bonus-eligible following a promotion from a non-bonus-eligible position, after the
beginning of the Plan Year may be eligible to participate in the Plan. Performance
Measures should be designed accordingly. Where Performance Measures are
impractical to develop for a partial Plan Year, eligibility should be delayed until
the next Plan Year.

	 
	 	2.	 	If, during the Plan Year, a Participant transfers to another business
unit or receives a promotion to a new bonus-eligible position within Wells Fargo,
the former and latter business unit managers should work together to determine
whether the Participant met some or all of the Performance Measures prior to the
transfer or promotion and the terms and conditions of the Plan have been satisfied.
Incentive awards, if any, will be determined following the end of the Plan Year.

	G.	 	Death or Retirement
	 
	 	 	In the event of a Participant’s death or retirement during the Plan Year, a Participant
may be paid a pro-rated incentive award provided the Participant actively worked for at
least three months during the Plan Year, met some or all of the Participant’s
Performance Measures, and the terms and conditions of the Plan have been satisfied.

	 
	H.	 	Withholding Taxes
	 
	 	 	Wells Fargo shall deduct from all payments under the Plan an amount necessary to satisfy
federal, state or local tax withholding requirements.

	 
	I.	 	Not an Employment Contract
	 
	 	 	The Plan is not an employment contract and participation in the Plan does not alter a
Participant’s at-will employment relationship with Wells Fargo. Both the Participant
and

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	 	 	Wells Fargo are free to terminate their employment relationship at any time for any
reason. No rights in the Plan may be claimed by any person whether or not he/she is
selected to participate in the Plan. No person shall acquire any right to an accounting
or to examine the books or the affairs of Wells Fargo.

	 
	J.	 	Assignment
	 
	 	 	No Participant shall have any right or power to pledge or assign any rights, privileges,
or incentive awards provided for under the Plan.

	 
	K.	 	Pro-Rated Incentive Recommendations

	 	 	 	In the event that an incentive recommendation will be pro-rated the following
methodology should be used.

	 	 	 	The annual salary should be multiplied by the ratio of months worked during the Plan
Year by the target bonus percentage.

	 
	 	 	 	The ratio of months worked is equal to the number of full months worked in the
qualifying position divided by 12.

	 
	 	 	 	For example, a Participant transfers to another position on November 1st. Their
salary was $100,000 per year at the time of transfer, and they had a 10% incentive
target. They achieved all their goals at target level. Their incentive
recommendation would be:

	L.	 	Code of Conduct
	 
	 	 	Violation of the terms or the spirit of the Plan and/or Wells Fargo’s Code of Ethics and
Business Conduct by the Participant and/or the Participant’s supervisor, or other
serious misconduct (including, but not limited to, gaming which is more fully discussed
below), are grounds for disciplinary action, including disqualification from further
participation in the Plan (including awards payable under the terms of the Plan) and/or
immediate termination of employment.

	 
	 	 	Participants are expected to adhere to ethical and honest business practices. A
Participant who violates the spirit of the Plan by “gaming” the system becomes
immediately ineligible to participate in the Plan. “Gaming” is the manipulation and/or
misrepresentation of sales or

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	 	 	sales reporting in order to receive or attempt to receive
compensation, or to meet or attempt to meet goals.

	 
	N.	 	Internal Revenue Code Section 409A
	 
	 	 	To the extent that an award is paid in cash under the Plan, Wells Fargo intends such
award to qualify as a short-term deferral exempt from the requirements of Internal
Revenue Code Section 409A. In the event an award payable under the Plan does not
qualify for treatment as an exempt short-term deferral, such amount will be paid in a
manner that will satisfy the requirements of Internal Revenue Code Section 409A and
applicable guidance thereunder.

Page 9 of 9 pagesexv10wd

Exhibit 10(d)

Amendment to Directors Stock Compensation and Deferral Plan

Effective January 25, 2011, Article III of the Wells Fargo & Company Directors Stock Compensation
and Deferral Plan (the “Plan”) is amended to insert the following new proviso (iii) and renumber
the subsequent proviso as (iv):

  “(iii) effective January 25, 2011, an additional 250,000 shares of Common Stock shall be
available for, but limited to, deferrals of Cash Compensation and dividend credits to
Deferred Stock Accounts;”

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