EX-10.4





 Exhibit 10.4 

DIVIDEND REINVESTMENT PLAN 

OF 
 STONE POINT CREDIT
CORPORATION 
 Stone Point Credit Corporation, a Delaware corporation (the “Corporation”), has adopted the following
plan (the “Plan”), to be administered by [ ] and its affiliates (the “Plan Administrator”), with respect to dividends and other distributions declared by its Board of Directors on shares of its common stock, par
value $0.001 per share (the “Common Stock”). 
 Participation requires no action on the part of a stockholder, and a
stockholder who does not wish to participate must “opt out” of the Plan, thereby electing to receive cash dividends. The elections of stockholders that make an election prior to any listing of the Corporation’s Common Stock on a
national securities exchange (an “Exchange Listing”) shall remain effective after the Exchange Listing. 

1.    All cash dividends or other distributions hereafter declared by the Board of Directors, net of any
applicable withholding tax, shall be automatically reinvested in additional shares of Common Stock, and no action shall be required on such Participant’s part to receive a distribution in Common Stock. 

2.    Such distributions shall be payable on such date or dates as may be fixed from time to time by the
Board of Directors to stockholders of record at the close of business on the record date established by the Board of Directors for the distribution involved. The Corporation generally expects for the record date to be the last calendar day of each
calendar quarter and the payment date to be the end of the first month of the subsequent quarter, subject to the discretion of the Board of Directors. 

3.    With respect to each distribution pursuant to this Plan, the Board of Directors reserves the right,
subject to the provisions of the Investment Company Act of 1940, as amended, to either issue new shares of Common Stock or to make open market purchases of its shares for the accounts of Participants. The Corporation intends to use primarily newly
issued shares of its Common Stock to implement the Plan, so long as shares of its Common Stock are trading at or above net asset value. If shares of its Common Stock are trading below net asset value, the Corporation intends, to the extent permitted
by law and after taking into account any additional expenses related to open market purchases, to purchase shares in the open market in connection with the implementation of the Plan. However, the Corporation reserves the right to issue new shares
of its Common Stock in connection with its obligations under the Plan even if shares of its Common Stock are trading below net asset value. If newly issued shares are used to implement the Plan, the number of shares of Common Stock to be issued to a
Participant is determined by dividing the total dollar amount of the distribution payable to such stockholder by the market price per share of Common Stock at the close of regular trading on the New York Stock Exchange on the payment date subject to
the adjustments described below. The market price per share of Common Stock on a particular date shall be the closing price for such shares on the New York Stock Exchange on such date or, if no sale is reported for such date, at the average of their
reported bid and asked prices. However, if the market price per share exceeds the most recently computed net asset value per share, the Corporation shall issue shares at the greater of (i) the most recently computed net asset value per share
and (ii) 95% of the current market price per share. If shares of Common Stock are purchased in the open market to implement this Plan, the number of shares to be issued to a stockholder shall be determined by dividing the dollar amount of the cash
dividend payable to such stockholder by the weighted average price per share for all shares purchased by the Plan Administrator in the open market in connection with the dividend. The number of shares of Common Stock to be outstanding after giving
effect to payment of the dividend cannot be established until the value per share at which additional shares will be issued has been determined and elections of the stockholders have been tabulated. 












 4.    The Plan Administrator shall establish an account
for shares of Common Stock acquired pursuant to the Plan for each Participant. The Plan Administrator shall hold each Participant’s shares, together with the shares of other Participants, in
non-certificated form. The Plan Administrator shall not issue share certificates to any Participant. 

5.    The Plan Administrator shall confirm to each Participant each acquisition made pursuant to the Plan
as soon as practicable but not later than 30 business days after the payable date. Each Participant may from time to time have an undivided fractional interest (computed to three decimal places) in a share of Common Stock, and distributions on
fractional shares shall be credited to each Participant’s account. In the event of termination of a Participant’s account under the Plan, the Plan Administrator shall adjust for any such undivided fractional interest in cash at the market
value of the shares of Common Stock at the time of termination determined in accordance with Paragraph 3 hereof; provided, that, prior to an Exchange Listing, the market value shall be the applicable price per share of Common Stock determined
by the Board of Directors. 
 6.    In the event that the Corporation makes available to its stockholders
rights to purchase additional shares or other securities, the shares held by the Plan Administrator for each Participant under the Plan shall be added to any other shares held by the Participant in calculating the number of rights to be issued to
the Participant. Transaction processing may be either curtailed or suspended until the completion of any stock dividend, stock split or corporate action. 

7.    The Plan Administrator’s service fee, if any, and expenses for administering the Plan shall be
paid for by the Corporation. Except as explicitly provided herein, there will be no brokerage charges or other charges to Participants. 

8.    Each Participant may elect to receive an entire distribution in cash by notifying the Plan
Administrator in writing so that such notice is received by the Plan Administrator no later than the record date for such distribution to stockholders. 

9.    Each Participant may terminate the Participant’s account under the Plan by so notifying the Plan
Administrator by submitting a letter of instruction terminating the Participant’s account under the Plan to the Plan Administrator. Such termination shall be effective immediately if the Participant’s notice is received by the Plan
Administrator at least three days prior to any distribution date; otherwise, such termination shall be effective only with respect to any subsequent distribution. The Plan may be terminated or amended by the Corporation upon notice in writing mailed
to each Participant at least 30 days prior to any record date for the payment of any dividend by the Corporation. Upon any termination, the Plan Administrator shall cause the shares of Common Stock held for the Participant under the Plan to be
delivered to the Participant. 

  
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 10.    These terms and conditions may be amended or
supplemented by the Corporation at any time but, except when necessary or appropriate to comply with applicable law or the rules or policies of the Securities and Exchange Commission or any other regulatory authority, only by mailing to each
Participant appropriate written notice at least 30 days prior to the effective date thereof. The amendment or supplement shall be deemed to be accepted by each Participant unless, prior to the effective date thereof, the Plan Administrator receives
written notice of the termination of the Participant’s account under the Plan. Any such amendment may include an appointment by the Plan Administrator in its place and stead of a successor agent under these terms and conditions, with full power
and authority to perform all or any of the acts to be performed by the Plan Administrator under these terms and conditions. Upon any such appointment of any agent for the purpose of receiving distributions, the Corporation shall be authorized to pay
to such successor agent, for each Participant’s account, all distributions payable on shares of the Corporation held in the Participant’s name or under the Plan for retention or application by such successor agent as provided in these
terms and conditions. 
 11.    The Plan Administrator shall at all times act in good faith and use its
best efforts within reasonable limits to ensure its full and timely performance of all services to be performed by it with respect to purchases and sales of the Corporation’s Common Stock under this Plan and to comply with applicable law, but
assumes no responsibility and shall not be liable for loss or damage due to errors unless such error is caused by the Plan Administrator’s negligence, bad faith or willful misconduct or that of its employees or agents. 

12.    These terms and conditions shall be governed by the laws of the State of [Delaware]. 

[●], 2020 

  
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