CANCELLATION AGREEMENT

Exhibit 10

CANCELLATION AGREEMENT

THIS CANCELLATION AGREEMENT (the “Agreement”), effective as of November 28, 2006, is by and between Wells Fargo & Company, a Delaware corporation (the “Corporation”), and Mark C. Oman (the “Executive”).

The Corporation and the Executive are parties to a Severance Agreement, dated June 3, 1998 (the “Severance Agreement”), which provides that the Corporation will make certain payments to the Executive if his employment with the Corporation is terminated or if his job duties or compensation and benefits are substantially reduced within three years following a change of control of the Corporation (as defined in the Severance Agreement). The Severance Agreement is currently scheduled to automatically renew for an additional three-year period on June 3, 2007, unless, among other events, the Corporation notifies the Executive, at