WELLS FARGO & COMPANY
PARTNERSHARES STOCK OPTION PLAN
(Includes Amendments through February 22, 2005)
PURPOSE OF THE PLAN
The Wells Fargo & Company PartnerShares Stock Option Plan is intended to enhance the profitability and
value of the Company by providing performance-based incentives and additional equity ownership opportunities
to Eligible Employees of the Company and its Affiliates.
DEFINITIONS OF TERMS AND RULES OF CONSTRUCTION
2.1 General Definitions. As used herein, the following capitalized terms have the following respective
(a) “Affiliate” means any corporation or limited liability company, a majority of the voting stock or
membership interest of which is directly or indirectly owned by the Company, and any partnership or joint
venture designated by the Committee in which any such corporation or limited liability company is a
partner or joint venturer.
(b) “Award” means any Option and any Stock Right granted to an Eligible Employee pursuant to
Section 6.1 of the Plan, including all rights and interests that arise out of or are otherwise related to such
Option or Stock Right.
(c) “Award Notice” means the document or other communication provided to or otherwise made available
to a Participant which describes the Award granted to the Participant and sets forth the terms, conditions
and restrictions specific to the Award.
(d) “Board” means the Company’s board of directors.
(e) “Committee” means any PartnerShares Committee or PartnerShares Committees, each consisting of
one or more members of the Board, as designated from time to time by the Board to administer the Plan.
(f) “Common Stock” means the Company’s common stock, par value $1-2/3 per share.
(g) “Company” means Wells Fargo & Company.
(h) “Disability” means a disability that (i) the Company determines, based on medical evidence satisfactory
to the Company, that the Participant has becom