WELLS FARGO & COMPANY
1999 DIRECTORS STOCK OPTION PLAN
(INCLUDES AMENDMENTS THROUGH JANUARY 1, 2001)
The purpose of the Wells Fargo & Company 1999 Directors Stock Option Plan is to provide an opportunity to
non-employee members of the Board of Directors of the Company to participate in stockholder gains in
consideration for personal services rendered in their capacity as directors of the Company. The Plan is also
intended to aid in attracting and retaining individuals of outstanding abilities and skills for service on the
Company's Board of Directors.
When used in this Plan, the following capitalized terms shall have the meanings indicated below:
Every Non-Employee Director who is elected or re-elected to the Board of Directors by the stockholders of the
Company shall automatically receive an option as of each Award Date to purchase Common Stock with a value
of $50,000 on such date determined in accordance with the Black-Scholes option pricing model. A Non-
Employee Director who joins the Board of Directors on any date other than the Award Date shall automatically
receive as of such other date an option to purchase Common Stock with the same value determined as of such
other date, prorated to reflect the number of months (rounded up to the next whole month) remaining until
the next Award Date. The exercise price per share for each stock option granted under this Plan shall be the Fair
Market Value of the Common Stock as of the date the option is granted. The number of shares subject to any
such option shall be determined using parameters determined as of the business day immediately preceding the
date as of which the option is granted and shall be rounded up to the next whole share.
IV. EXERCISE OF OPTIONS
AWARD DATE The day of the Company's annual
meeting of stockholders in each year,
beginning in 1999.