Exhibit 10.60

FIRST AMENDMENT TO AMERICAN CAPITAL, LTD. LOCK UP AGREEMENT

This FIRST AMENDMENT, dated as of January 28, 2010 (this “First Amendment”),
amends the Lock Up Agreement, dated as of November 20, 2009 (the “Lock Up”), by
and among American Capital, Ltd., a Delaware corporation (the “Company”), and
each of the creditors party thereto (the “Consenting Creditors”). Capitalized
terms not otherwise defined herein shall have the meanings ascribed to such
terms in the Lock Up.

RECITALS

WHEREAS, pursuant to the Lock Up, the Consenting Creditors have agreed to
implement a restructuring and reorganization of the Company pursuant to the
terms set forth in the Term Sheet and the Private/ Public Terms;

WHEREAS, the Company has requested that the Majority Consenting Creditors enter
into this First Amendment on the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises and the mutual covenants and
agreements set forth herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties agree as
follows:

1. Amendment to Section 4. Section 4 is hereby amended as follows:

(i) in Section 4(ii), by deleting both occurrences of the date “January 15,
2010” and replacing them with “March 15, 2010” and by deleting the date “January
31, 2010” and replacing it with “March 31, 2010”.

(ii) in Section 4(iii)(2), by deleting the date “March 15, 2010” and replacing
it with “May 15, 2010” and by deleting the date “March 31, 2010” and replacing
it with “May 31, 2010”.

(iii) in Section 4(iii)(3), by deleting the date “March 31, 2010” and replacing
it with “May 31, 2010”.

2. Effectiveness. This First Amendment shall not become effective unless and
until it has been duly executed and delivered by the Company and the Majority
Consenting Creditors.

3. Continuing Effect; No Other Amendments. Except as expressly amended hereby,
all of the terms and provisions of the Lock Up are and shall remain in full
force and effect. The amendments contained herein shall not constitute an
amendment or waiver of any other provision of the Lock Up or for any purpose
except as expressly set forth herein.

 

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4. Counterparts. This First Amendment may be executed in one or more
counterparts, each of which shall be deemed an original and all of which shall
constitute one and the same First Amendment. Delivery of an executed signature
page of this First Amendment by facsimile shall be as effective as delivery of a
manually executed signature page of this First Amendment.

5. Severability. Any provision of this First Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof or affecting the validity or enforceability of such
provision in any other jurisdiction.

6. Headings. The headings of the sections and subsections of this First
Amendment are inserted for convenience only and shall not affect the
interpretation hereof.

7. No Solicitation. This First Amendment is not and shall not be deemed to be a
solicitation of votes for the Plan. In addition, this First Amendment does not
constitute an offer to issue or sell securities to any person, or the
solicitation of an offer to acquire or buy securities, in any jurisdiction where
such offer or solicitation would be unlawful.

8. GOVERNING LAW. THIS FIRST AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
CONTRACTS MADE AND TO BE PERFORMED ENTIRELY WITHIN THAT STATE.

 

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IN WITNESS WHEREOF, each of the Parties has caused this First Amendment to be
executed and delivered by its duly authorized officer as of the date first above
written.

 

AMERICAN CAPITAL, LTD. By:  

    /s/ John Erickson

  Name:   John Erickson   Title:  

President, Structured Finance

and Chief Financial Officer

 

CONSENTING CREDITORS: NAME OF INSTITUTION: The Royal Bank of Scotland PLC By:  

RBS Securities Inc., Its Agent

By:  

/s/ Matthew S. Rosenerans

Name:  

Matthew S. Rosenerans

Title:  

Vice President

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CONSENTING CREDITORS: NAME OF INSTITUTION: CREDIT SUISSE AG, Cayman Islands
Branch By:  

/s/ Didier Siffer

Name:  

Didier Siffer

Title:  

Managing Director

By:  

/s/ Adam Zausmer

Name:  

Adam Zausmer

Title:  

Vice President

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CONSENTING CREDITORS: NAME OF INSTITUTION: CREDIT SUISSE LOAN FUNDING LLC By:  

/s/ Douglas DiBella

Name:  

Douglas DiBella

Title:  

Vice President

By:  

/s/ Kenneth Hoffman

Name:  

Kenneth Hoffman

Title:  

Managing Director

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CONSENTING CREDITORS: NAME OF INSTITUTION: Morgan Stanley Bank, NA By:  

/s/ Todd Vannucci

Name:  

Todd Vannucci

Title:  

Authorized Signatory

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CONSENTING CREDITORS: NAME OF INSTITUTION: The Bank of East Asia, Limited, New
York Branch By:  

/s/ Kenneth A. Pettis

Name:  

Kenneth A. Pettis

Title:  

Senior Vice President

By:  

/s/ Kitty Sin

Name:  

Kitty Sin

Title:  

Senior Vice President

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CONSENTING CREDITORS: NAME OF INSTITUTION: Societe Generale By:  

/s/ Shelley Yu

Name:  

Shelley Yu

Title:  

Director

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CONSENTING CREDITORS: NAME OF INSTITUTION: UBS AG, Stamford Branch By:  

/s/ Irja R. Otsa

Name:  

Irja R. Otsa

Title:  

Associate Director, Banking Products Services, US

By:  

/s/ Marie Haddad

Name:  

Marie Haddad

Title:  

Associate Director, Banking Products Services, US

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CONSENTING CREDITORS: NAME OF INSTITUTION: ROYAL BANK OF CANADA By:  

/s/ Kirsten Monaghan

Name:  

Kirsten Monaghan

Title:  

Director

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CONSENTING CREDITORS: NAME OF INSTITUTION: Macquarie Bank Limited By:  

/s/ Marc Thatcher

Name:  

Marc Thatcher

Title:  

Division Director

By:  

/s/ Sewmay Lee

Name:  

Sewmay Lee

Title:  

Senior Lawyer

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CONSENTING CREDITORS: NAME OF INSTITUTION: HSBC BANK USA, NATIONAL ASSOCIATION
By:  

/s/ Patrick M. Hanley

Name:  

Patrick M. Hanley

Title:  

Senior Vice President

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CONSENTING CREDITORS: NAME OF INSTITUTION: West LB AG, New York Branch By:  

/s/ Robert Rabbino

Name:  

Robert Rabbino

Title:  

Executive Director

By:  

/s/ Sharon Wang

Name:  

Sharon Wang

Title:  

Associate Director

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CONSENTING CREDITORS: NAME OF INSTITUTION: JPMorgan Chase Bank, N.A. By:  

/s/ Melissa Ferro

Name:  

Melissa Ferro

Title:  

Vice President

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CONSENTING CREDITORS: NAME OF INSTITUTION: Bank of America, N.A. By:  

/s/ Sean A. Tobias

Name:  

Sean A. Tobias

Title:  

Senior Vice President

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CONSENTING CREDITORS: NAME OF INSTITUTION: Mega International Commercial Bank,
Silicon Valley Branch By:  

/s/ Kuang Hua Wei

Name:  

Kuang Hua Wei

Title:  

Senior Vice President & General Manager

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CONSENTING CREDITORS: NAME OF INSTITUTION: Mega International Commercial Bank
Co., Ltd., New York Branch By:  

/s/ Priscilla H. T. Hsing

Name:  

Priscilla H. T. Hsing

Title:  

VP & DGM

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CONSENTING CREDITORS: NAME OF INSTITUTION: Mega International Commercial Bank
Co., Ltd., Chicago Branch By:  

/s/ Liu, Ming Yung

Name:  

Liu, Ming Yung

Title:  

SVP & General Manager

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CONSENTING CREDITORS: NAME OF INSTITUTION: Bank of Montreal Capital Markets
Financing, Inc. By:  

/s/ Lana M. Powers

Name:  

Lana M. Powers

Title:  

Director

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CONSENTING CREDITORS: NAME OF INSTITUTION: CATHAY UNITED BANK By:  

/s/ Grace Chou

Name:  

Grace Chou

Title:  

SVP & General Manager

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CONSENTING CREDITORS: NAME OF INSTITUTION: BANK LEUMI USA By:  

/s/ Joung Hee Hong

Name:  

Joung Hee Hong

Title:  

First Vice President

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CONSENTING CREDITORS: NAME OF INSTITUTION: TAIWAN BUSINESS BANK By:  

/s/ Alex Wang

Name:  

Alex Wang

Title:  

S.V.P. & General Manager

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CONSENTING CREDITORS: NAME OF INSTITUTION: Wachovia Bank, N.A. By:  

/s/ Mike Romanzo

Name:  

Mike Romanzo

Title:  

Director

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CONSENTING CREDITORS: NAME OF INSTITUTION: Goldman Sachs Lending Partners LLC
By:  

/s/ Andrew Caditz

Name:  

Andrew Caditz

Title:  

Authorized Signatory