Document:

EX-10.1

 Exhibit 10.1 

Execution Copy 

AMENDMENT NO. 1 TO SEVENTH AMENDED AND RESTATED 

CREDIT AGREEMENT 
 This
AMENDMENT NO. 1 TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT, dated as of June 15, 2017 (this “Agreement”; capitalized terms used herein without definition having the meanings provided in Article I below), is
entered into among MATTEL, INC., a Delaware corporation (the “Company”), each Lender party hereto and BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders.

 PRELIMINARY STATEMENTS: 

The Company, the Lenders and the Administrative Agent are parties to that certain Seventh Amended and Restated Credit Agreement dated as of
June 8, 2015, among the Company, the Lenders party thereto and the Administrative Agent (the “Credit Agreement”). 

The Company has advised the Administrative Agent and the Lenders that it desires to amend certain provisions of the Credit Agreement as set
forth below, and the Administrative Agent and the Lenders signatory hereto (the “Consenting Lenders”) are willing to effect such amendments on the terms and conditions contained in this Agreement. 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each party to this Agreement
agrees, as follows: 
 ARTICLE I 

DEFINITIONS 
 1.01
Definitions. The following terms (whether or not underscored) when used in this Agreement, including its preamble and recitals, shall have the following meanings (such definitions to be equally applicable to the singular and plural forms
thereof): 
 “Administrative Agent” is defined in the Preamble. 

“Agreement” is defined in the Preamble. 

“Agreement Effective Date” means the date on which the conditions precedent to the effectiveness of this Agreement as
specified in Article III herein have been satisfied. 
 “Company” is defined in the Preamble. 

“Credit Agreement” means the Credit Agreement, as amended by this Agreement, as the same may hereafter be further amended,
amended and restated, supplemented or otherwise modified. 
 “Consenting Lenders” is defined in the Preliminary
Statements. 

 “Lender” means each lender from time to time party to the Credit Agreement. 

1.02 Other Definitions. Unless otherwise defined herein or the context otherwise requires, terms used in this Agreement, including its
preamble and recitals, have the meanings provided in the Credit Agreement. 
 1.03 Other Interpretive Provisions. The rules of
construction in Sections 1.03 through 1.07 of the Credit Agreement shall be equally applicable to this Agreement. 
 ARTICLE
II 
 AMENDMENTS 

2.01 Amendments to Credit Agreement. Effective as of the Agreement Effective Date, the Credit Agreement is hereby amended as follows:

 (a) Section 1.02 of the Credit Agreement. Section 1.02 of the Credit Agreement is
hereby amended by amending the definition of “Defaulting Lender” (1) to delete the “or” at the end of clause (d)(ii) thereof, and (2) to insert the following at the end of clause (d)(iii) thereof: 

“, or (iv) become the subject of a Bail-in Action” 

(b) Section 1.02 of the Credit Agreement. Section 1.02 of the Credit Agreement is hereby
amended by adding the following new definitions in proper alphabetical order: 
 ““Amendment No. 1 Effective
Date” means June 15, 2017” 
 “Bail-In Action” means the exercise
of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country implementing
Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule. 
 “EEA Financial Institution” means (a) any credit institution or investment firm established in
any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any
financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway. 

  
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 “EEA Resolution Authority” means any public administrative authority or any
person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“EU Bail-In Legislation Schedule” means the EU
Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.” 
 (c) Article V of the Credit Agreement. Article V of
the Credit Agreement is hereby amended by adding the following new Section 5.22 at the end thereof: 

“5.22 EEA Financial Institutions. Neither the Company nor any Guarantor is an EEA Financial
Institution.” 
 (d) Section 7.05 of the Credit Agreement. Section 7.05 of the
Credit Agreement is hereby amended by deleting Section 7.05 in its entirety and substituting in lieu thereof the following: 

“7.05 Leverage Ratio. The Company shall not permit, as of the last day of each fiscal quarter, the ratio
of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the four consecutive fiscal quarters ending on such date, to be greater than the ratio set forth below opposite such period: 

 

			
	 Computation Period Ending
	  	Maximum Leverage
Ratio
	 From Amendment No. 1 Effective Date through the first fiscal quarter in 2018:
	  	3.75 to 1.0
	 For the second fiscal quarter in 2018 and each fiscal quarter thereafter:”
	  	3.50 to 1.0

 (e) Article X of the Credit Agreement. Article X of the Credit Agreement is hereby amended by
adding the following new Section 10.19 at the end thereof: 
 “10.19 Acknowledgement and
Consent to Bail-In of EEA Financial Institutions. Solely to the extent any Lender that is an EEA Financial Institution is a party to this Agreement and notwithstanding anything to the contrary in
any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender 

  
 3 

 
that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution
Authority and agrees and consents to, and acknowledges and agrees to be bound by: 
 (a) the application of any Write-Down
and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender that is an EEA Financial Institution; and 

(b) the effects of any Bail-In Action on any such liability, including, if applicable:

 (i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such
liability under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in
connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.” 
 (f) Other Loan
Documents. From and after the Agreement Effective Date, each reference to the Credit Agreement in any Loan Document shall be a reference to the Credit Agreement, as amended by this Agreement, as the same may hereafter be further amended, amended
and restated, supplemented or otherwise modified. 
 ARTICLE III 

CONDITIONS PRECEDENT 
 3.01
Conditions to Effectiveness. This Agreement is subject to the provisions of Section 10.01 of the Credit Agreement, and shall become effective, when, and only when, each of the following conditions shall have been
satisfied: 
 (a) Deliveries. The Administrative Agent shall have received all of the following documents, each such document (unless
otherwise specified) dated the Agreement Effective Date and, each in form and substance satisfactory to the Administrative Agent: 
 (i)
Agreement. Counterparts of this Agreement executed by the Company, the Administrative Agent and the Required Lenders; and 

  
 4 

 (ii) Officer’s Certificate. A certificate executed by a Responsible Officer of the
Company, dated as of the Agreement Effective Date, certifying that: 
 (A) the representations and warranties of the Company
contained in Article V (except the representation and warranty contained in Section 5.09) of the Credit Agreement are true, correct and complete in all material respects (except, if such representation or warranty is
qualified by materiality, Material Adverse Effect or a similar concept applies, such representation or warranty is true, correct and complete in all respects) on and as of such date, as though made on and as of such date, except to the extent that
such representations and warranties specifically refer to an earlier date, in which case they are true, correct and complete in all material respects (except, if such representation or warranty is qualified by materiality, Material Adverse Effect or
a similar concept applies, such representation or warranty is true, correct and complete in all respects) as of such earlier date; and 

(B) no Default or Event of Default exists or would result from the effectiveness of this Agreement. 

(b) Consent Fee. The Administrative Agent shall have received, for the ratable account of each Consenting Lender that has executed and
delivered a counterpart hereof to the Administrative Agent on or prior to 12:00 p.m. Eastern Time on June 15, 2017 (the “Deadline”), a fee equal to 0.025% of such Lender’s undrawn Commitment and amount of outstanding Loans
on the Agreement Effective Date (such fees, the “Consent Fees”). The Consent Fees shall be payable in U.S. dollars in immediately available funds as directed by the Administrative Agent. Once paid, no Consent Fees shall be
refundable under any circumstances. For the avoidance of doubt, no Consent Fee shall be payable to any Lender that does not consent to this Agreement prior to the Deadline. 

(c) Costs and Expenses. The Administrative Agent shall have received payment for the costs and expenses required to be reimbursed on or
before the Agreement Effective Date pursuant to Section 5.04 hereof. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

In order to induce the Lenders to enter into this Agreement, the Company hereby represents and warrants to the Administrative Agent and each
Lender for itself and each of its Subsidiaries that on and as of the Agreement Effective Date after giving effect to this Agreement: 
 4.01
Due Authorization; No Conflict. The execution, delivery and performance by the Company of this Agreement and the performance by the Company of this Agreement and the Credit Agreement have been duly authorized by all necessary corporate or
other organizational action of the Company, and do not and will not: (a) violate the Restated Certificate of Incorporation or Amended and Restated Bylaws of the Company, (b) violate any provision of law applicable to the Company, or any
material order, judgment or decree of any court or other agency of government binding on the Company, the violation of which would result in a Material Adverse Effect, (c) conflict with, result in a breach of or constitute (with due notice or
lapse of 

  
 5 

 
time or both) a default under any material Contractual Obligation of the Company, (d) result in or require the creation or imposition of any material lien, security interest, charge or
encumbrance of any nature whatsoever upon any of its material properties or assets, or (e) require any approval of stockholders or any approval or consent of any Person under any Contractual Obligation of the Company. 

4.02 Enforceability. Each of this Agreement and the Credit Agreement constitute a legal, valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws or equitable principles relating to or limiting creditors’
rights generally. 
 4.03 Credit Agreement Representations. The representations and warranties of the Company contained in Article
V (except the representation and warranty contained in Section 5.09) of the Credit Agreement are true and correct in all material respects (except, if such representation or warranty is qualified by materiality,
Material Adverse Effect or a similar concept applies, such representation or warranty is true and correct in all respects) on and as of the Agreement Effective Date with the same effect as if made on and as of such Agreement Effective Date (except
to the extent such representations and warranties expressly refer to an earlier date, in which case they shall be true and correct in all material respects (except, if such representation or warranty is qualified by materiality, Material Adverse
Effect or a similar concept applies, such representation or warranty is true and correct in all respects) as of such earlier date). 
 4.04
No Default. No Default or Event of Default has occurred and is continuing or resulted from the consummation of the transactions contemplated by this Agreement. 

ARTICLE V 
 MISCELLANEOUS

 5.01 Loan Document. This Agreement is a Loan Document executed pursuant to the Credit Agreement and shall (unless otherwise
expressly indicated herein) be construed, administered and applied in accordance with the terms and provisions thereof. 
 5.02 Lender
Consent. For purposes of determining compliance with the conditions specified in Section 3.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied
with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Agreement Effective
Date specifying its objection thereto. 
 5.03 Effect of Agreement. (a) The Credit Agreement, as specifically amended or
otherwise modified by this Agreement, is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed. 

(b) The execution, delivery and effectiveness of this Agreement shall not, except as expressly provided herein, operate as a waiver of any
right, power or remedy of any Lender or the Administrative Agent under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement. 

  
 6 

 5.04 Costs and Expenses. The Company agrees to pay the costs and expenses of the
Administrative Agent in connection with the preparation, execution and delivery of this Agreement and the other instruments and documents to be delivered hereunder (including, without limitation, the reasonable fees and expenses of counsel for the
Administrative Agent) in accordance with and subject to the terms of Section 10.04 of the Credit Agreement. 
 5.05
Section Captions. Section captions used in this Agreement are for convenience of reference only, and shall not affect the construction of this Agreement. 

5.06 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of
which shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic means shall be effective as delivery of a manually executed counterpart of this Agreement.

 5.07 Severability. The illegality or unenforceability of any provision of this Agreement or any instrument or agreement required
hereunder shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Agreement or any instrument or agreement required hereunder. 

5.08 Certain Provisions. The provisions of Sections 10.14 and 10.15 of the Credit Agreement are hereby incorporated by
reference. 
 [Signature pages follow] 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

					
	COMPANY:	  	MATTEL, INC.
			
		  	 By:
	  	 /s/ Mandana Sadigh

Name: Mandana Sadigh
 Title:   Senior Vice President and
Treasurer

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
		 	
	 BANK OF AMERICA, N.A., as the Administrative Agent

 

	By	 	 /s/ Erik M. Truette

		 	Name: Erik M. Truette
		 	Title:   Vice President
	  
 BANK OF AMERICA, N.A., as a Lender

 

	By	 	 /s/ J. Casey Cosgrove

		 	Name: J. Casey Cosgrove
		 	Title:   Director

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	 CITIBANK, N.A., as a Lender
  

	By	 	 /s/ Carolyn Kee

		 	Name: Carolyn Kee
		 	Title:   Vice President

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	 WELLS FARGO BANK, N. A., as a Lender
  

	By	 	 /s/ Maribelle Villaseñor

		 	Name: Maribelle Villaseñor
		 	Title:   Director

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	MIZUHO CORPORATE BANK, LTD., as a Lender
		
	By	 	 /s/ Tracy Rahn

		 	Name: Tracy Rahn
		 	Title:   Authorized Signatory

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	MUFG UNION BANK, N.A., as a Lender
		
	By	 	 /s/ Lauren Hom

		 	Name: Lauren Hom
		 	Title:   Director

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	ROYAL BANK OF CANADA, as a Lender
		
	By	 	 /s/ Gordon MacArthur

		 	Name: Gordon MacArthur
		 	Title:   Authorized Signatory

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	 HSBC BANK USA, NATIONAL ASSOCIATION,

as a Lender

		
	By	 	 /s/ Eric Seltenrich

		 	Name: Eric Seltenreich
		 	Title:   Director

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	MORGAN STANLEY BANK, N.A., as a Lender
		
	By	 	 /s/ Emmanuel Ma

		 	Name: Emmanuel Ma
		 	Title:   Executive Director

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	KEYBANK NATIONAL ASSOCIATION, as a Lender
		
	By	 	 /s/ Marianne T. Meil

		 	Name: Marianne T. Meil
		 	Title:   Senior Vice President

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	 MANUFACTURERS & TRADERS TRUST

COMPANY, as a Lender

		
	By	 	 /s/ Lauren J. Schellinger

		 	Name: Lauren J. Schellinger
		 	Title:   Vice President

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	 THE BANK OF NOVA SCOTIA, as a Lender

		
	By	 	 /s/ Michael Grad

		 	Name: Michael Grad
		 	Title:   Director

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	 U.S. BANK NATIONAL ASSOCIATION, as a

Lender

		
	By	 	 /s/ Glenn Leyrer

		 	Name: Glenn Leyrer
		 	Title:   Vice President

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	BRANCH BANKING AND TRUST COMPANY, as a Lender
		
	By	 	 /s/ Sarah Bryson

		 	Name: Sarah Bryson
		 	Title:   Senior Vice President

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	DBS BANK LTD., as a Lender
		
	By	 	 /s/ Yeo How Ngee

		 	Name: Yeo How Ngee
		 	Title:   Managing Director

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature Page 

 
			
	SOCIÉTÉ GÉNÉRALE, as a Lender
		
	By	 	 /s/ Nigel Elvey

		 	Name: Nigel Elvey
		 	Title:   Director

  
 Mattel, Inc. 

Amendment No. 1 to Seventh Amended and Restated Credit Agreement 

Signature PageExhibit

Exhibit  10.1

EXECUTION VERSION

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED DEALER MANAGER AGREEMENT 

This First Amendment to the Second Amended and Restated Dealer Manager Agreement (this “Amendment”) is effective as of June 15, 2017, by and among Sierra Income Corporation, a Maryland corporation (the “Company”) that has elected to be treated as a business development company (a “BDC”) under the Investment Company Act of 1940, as amended, and the rules and regulations thereunder (collectively, the “Investment Company Act”), SIC Advisors LLC, a Delaware limited liability company (the “Advisor”) and  SC Distributors, LLC, a Delaware limited liability company (the “Dealer Manager”). The Company, the Advisor and the Dealer Manager are collectively referred to herein as the “Parties.” Capitalized terms used but not defined herein shall have the meaning set forth in the Dealer Manager Agreement (defined below).
WHEREAS, the Parties previously entered into that certain Second Amended and Restated Dealer Manager Agreement, dated as of March 3, 2016 (the “Dealer Manager Agreement”); and
WHEREAS, pursuant to Section 13.6(a) of the Dealer Manager Agreement, the Parties desire to amend the Dealer Manager Agreement in order to revise Section 5.1 of the Dealer Manager Agreement.
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:
		
	1.
	Amendment to Section 5.1. Section 5.1 of the Dealer Manager Agreement is hereby amended and restated in its entirety as follows:

5.1 Compensation.
 
(a) Selling Commissions. Subject to volume discounts and other special circumstances described in or otherwise provided in the “Plan of Distribution” section of the Prospectus or this Section 5.1, the Company will pay to the Dealer Manager selling commissions in an amount of up to 3.0% of the gross proceeds of the Offered Shares sold, which commissions will be reallowed to the Participating Dealer that sold the Offered Shares giving rise to such commissions, as described more fully in the Participating Dealer Agreement entered into with such Participating Dealer. The Company will not pay to the Dealer Manager any selling commissions in respect of the purchase of any shares sold pursuant to Sections 5.1(d) below or shares issued pursuant to the Company’s distribution reinvestment plan (“DRIP”).

(b) Dealer Manager Fee. Subject to volume discounts and other special circumstances described in or otherwise provided for in the “Plan of Distribution” section of the Prospectus or this Section 5.1, the Company will pay to the Dealer Manager a dealer manager fee in an amount of up to 2.5% of the gross proceeds from the sale of the Offered Shares (the “Dealer Manager Fee”), a portion of which may be reallowed to Participating Dealers (as described more fully in the Participating Dealer Agreement entered into with such Participating Dealer), which reallowance, if any, shall be determined by the Dealer Manager in its discretion based on factors including, but not limited to, the number of shares sold by such Participating Dealer, the assistance of such Participating Dealer in marketing the Offering and due diligence expenses incurred, and the extent to which similar fees are reallowed to participating broker-dealers in similar offerings being conducted during the Offering Period. The Company will not pay to the Dealer Manager a Dealer Manager Fee in respect of shares issued pursuant to the Company’s DRIP.

(c) Distribution and Stockholder Servicing Fee.  

1

(i) Amount. Upon the terms set forth in the Prospectus and subject to the limitations set forth below, the Advisor will pay the Dealer Manager, subject to the termination clause set forth in subsection (iii) below, without reimbursement from the Company, an ongoing distribution and stockholder servicing fee that accrues daily in an amount equal to 1/365th of up to 1.0% of the net asset value per Offered Share as of the end of each quarterly period following the date of purchase on a continuous basis from year to year (the “Distribution and Stockholder Servicing Fee”) for providing the services described in Exhibit B attached hereto. The Advisor will not pay a Distribution and Stockholder Servicing Fee in respect to shares issued pursuant to the Company’s DRIP.

 (ii) Payment.  The Advisor will pay the Distribution and Stockholder Servicing Fee to the Dealer Manager on a quarterly basis in arrears. The Dealer Manager will reallow all of the Distribution and Stockholder Servicing Fee to Participating Dealers as marketing fees or to defray other distribution-related expenses.

(iii)  Termination of the Distribution and Stockholder Servicing Fee.  The Advisor will continue to pay the Distribution and Stockholder Servicing Fee to the Dealer Manager until the earliest to occur of the following: (i) a listing of the Offered Shares on a national securities exchange, or any other liquidity event described in the Prospectus; (ii) following the completion of the Offering, total underwriting compensation in the Offering, paid from any source, equals 10% of the gross proceeds from the Offering; (iii) there are no longer any Offered Shares outstanding; (iv) the end of the quarter in which the Company’s transfer agent, on behalf of the Company, determines that total underwriting compensation, including Selling Commissions, the Dealer Manager Fee, the Distribution and Stockholder Servicing Fee and other elements of underwriting compensation with respect to such Offered Share, would be in excess of 8.5% of the actual price paid for such Offered Share; (v) the end of the quarter in which the Company’s transfer agent, on behalf of the Company, determines that the Distribution and Stockholder Servicing Fee with respect to such Offered Share would be in excess of 3.0% of the actual price paid for such Offered Share; (vi) the date on which such Offered Share is repurchased by the Company or is no longer outstanding; (vii) the date on which the holder of such Offered Share or its agent notifies the Company or its agent that he or she is no longer represented by the Participating Dealer through which the holder purchased such Offered Share and is represented by a new Participating Dealer; provided that the Advisor will continue paying the Distribution and Stockholder Servicing Fee, which shall be reallowed to the new Participating Dealer, if the new Participating Dealer enters into a Participating Dealer Agreement or otherwise agrees to provide the services set forth on Exhibit B to this Agreement; or (viii) the date when the Adviser no longer serves as our investment adviser. 
 
(d) Sales to Participating Dealers. As described in the Prospectus, the Dealer Manager may sell Offered Shares to Participating Dealers, their retirement plans, their representatives and the family members, IRAs and qualified plans of their representatives at the public offering price, net of selling commissions. For purposes of this discount, a family member includes such person’s spouse, parent, child, sibling, mother- or father-in-law, son- or daughter-in law or brother- or sister-in-law. 
 
(e) Payment. All amounts payable to the Dealer Manager pursuant to this Section 5.1(a) and Section 5.1(b) will be paid in full within thirty (30) days after the investor subscribing for the Offered Shares is admitted as a stockholder of the Company.
 
(f) Underwriting Compensation. Notwithstanding anything to the contrary contained herein, in no event shall the total aggregate underwriting compensation paid by the Dealer Manager to the Participating Dealers participating in each Offering, including, but not limited to, selling commissions, the Dealer Manager Fee, the Distribution and Stockholder Servicing Fee and the expense reimbursements set forth in Section 3.2, exceed ten percent (10.0%) of the gross proceeds from the sale of Offered Shares in each Offering as of the end of each Offering. Notwithstanding the above, unless otherwise agreed to by the applicable parties, for sales of Offered Shares sold prior to the effective date of this Amendment, Selling Commissions and the Dealer Manager Fee shall be paid pursuant to the Participating Dealer Agreement in effect at the time of sale of such Offered Shares.
		
	2.
	Exhibit B.  Exhibit B attached hereto is hereby incorporated into the Dealer Manager Agreement.

		
	3.
	Continued Effect. Except as specifically set forth herein, all other terms and conditions of the Dealer Manager Agreement shall remain unmodified and in full force and effect. In the event of any conflict 

2

between the terms of the Dealer Manager Agreement and the terms of this Amendment, the terms of this Amendment shall control.
		
	4.
	Governing Law. This Amendment and any matters arising out of or relating in any way whatsoever to this Amendment (whether in contract, tort or otherwise) shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to the principals of conflicts of laws.

		
	5.
	Counterparts. This Amendment may be executed in any number of counterparts, including by telecopy or other electronic methods. Each counterpart, when executed and delivered, shall be an original contract, but all counterparts, when taken together, shall constitute one and the same instrument. 

[Signatures on following page.] 

3

IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be duly executed as of the date first written above. 
SIERRA INCOME CORPORATION

By:_/s/ Seth Taube__________________________  ________
Name:  Seth Taube  
Title:   Chairman and Chief Executive Officer

SIC ADVISORS LLC

By:_/s/ Seth Taube__________________________________ 
Name:  Seth Taube  
Title:   Chief Executive Officer

SC DISTRIBUTORS, LLC

By:_/s/_Patrick Miller________________________________
Name: Patrick Miller 
Title: President

4

Exhibit B

SERVICES

		
	•
	Maintain all licenses with FINRA necessary to carry on the activities required by the Agreement and Participating Dealer Agreement, as applicable.

		
	•
	Prepare investor reporting materials or correspondences, including mailing portfolio update materials to investors.

		
	•
	Assist the Company with regulatory compliance.

		
	•
	Host stockholder and/or advisor meetings regarding the Company, and offer to meet with a holder of Offered Shares, no less than annually to provide the overall guidance on the holder’s investment in the Company, including the mechanics of the Company’s distribution reinvestment plan, share repurchase program or a tender offer, or to answer questions about account statements or valuations. 

		
	•
	Host functions with Participating Dealers and registered investment advisers to present updates on the Offering, such as:

		
	o
	Conference calls,

		
	o
	Videoconferencing,

		
	o
	Road shows,

		
	o
	Due diligence meetings, and

		
	o
	Client appreciation events.

		
	•
	Provide information or services to investors related to the Company’s distribution reinvestment plan or share repurchase program. 

		
	•
	Respond to investor inquiries, including, for example, discussing with a holder of Offered Shares, upon such holder’s request any questions related to the holder’s investment in the Company, such as questions regarding account statements, distributions, Form 1099 and basic taxability.  

		
	•
	Provide information to investors related to the financial status of the Company, valuations, taxes and issues requiring stockholder votes or actions.

		
	•
	Communicate to investors and/or their representatives regarding:

		
	o
	Proxy statement mailings,

		
	o
	Portfolio acquisitions,

		
	o
	Portfolio sales,

		
	o
	Revenue/net operating income/funds from operations/modified funds from operations data

		
	o
	Changes in the net asset value per share,

		
	o
	Liquidity event status, and

		
	o
	Inquiries regarding media coverage of the Company’s sponsor or its securities offerings. 

5

		
	•
	Provide account maintenance services, including processing:

		
	o
	Account title changes,

		
	o
	Address changes,

		
	o
	Beneficiary changes,

		
	o
	Account transfers,

		
	o
	Custodial changes,

		
	o
	Dealer changes,

		
	o
	Redemption requests, 

		
	o
	Required minimum distribution requests, and

		
	o
	DRIP changes.

		
	•
	Provide ongoing updates to Participating Dealers, registered investment advisers and their personnel regarding the Offering.

		
	•
	Update its website on an ongoing basis to contain updated information regarding the Offering.

6

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