Document:

EMPLOYMENT AGREEMENT

 

This Employment
Agreement (the “Agreement”), effective as of the 1st day of June 2013, by and between RICK'S CABARET
INTERNATIONAL, INC., a Texas corporation (the “Company”), and PHILLIP K. MARSHALL (“Executive”).

 

WITNESSETH:

 

WHEREAS, the Company
desires to employ Executive as provided herein; and

 

WHEREAS, Executive
desires to accept such employment.

 

NOW, THEREFORE,
for and in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.Employment. The Company
hereby employs Executive and Executive hereby accepts employment with the Company upon the terms and conditions hereinafter set
forth.

 

2.Duties. Subject to
the power of the Board of Directors of the Company to elect and remove officers, Executive will serve the Company as its Chief
Financial Officer and will faithfully and diligently perform the services and functions relating to such office or otherwise reasonably
incident to such office, provided that all such services and functions will be reasonable and within Executive's area of expertise.
Executive will, during the term of this Agreement (or any extension thereof), devote his full business time, attention and skills
and best efforts to the promotion of the business of the Company. The foregoing will not be construed as preventing Executive from
making investments in other businesses or enterprises provided that (a) Executive agrees not to become engaged in any other business
activity that interferes with his ability to discharge his duties and responsibilities to the Company and (b) Executive does not
violate any other provision of this Agreement.

 

3.Term. Subject to
the terms and conditions hereof, the term of employment of Executive will commence June 1, 2013 (the “Commencement Date”)
and will end on June 1, 2016, unless earlier terminated by either party pursuant to the terms hereof. The term of this Agreement
is referred to herein as the “Term.”

 

4.Compensation
and Benefits During the Employment Term.

 

		(a)	Salary. Commencing upon the date of this Agreement, Executive will
be paid an annual base salary of (i) $245,000 for the first year of the Term, (ii) $250,000 for the second year of the Term and
(iii) $255,000 for the third year of the Term, payable bi-weekly (the “Salary”). At any time and from time to time
the Salary may be increased for the remaining portion of the Term if so determined by the Board of Directors of the Company after
a review of Executive's performance of his duties hereunder.

 

 

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		(b)	Bonus. As further compensation, Executive will be eligible for bonuses
as determined from time to time by the Board of Directors.

 

		(c)	Expenses. Upon submission of a detailed statement and reasonable
documentation, the Company will reimburse Executive in the same manner as other executive officers for all reasonable and necessary
or appropriate out-of-pocket travel and other expenses incurred by Executive in rendering services required under this Agreement.

 

		(d)	Benefits; Insurance.

 

		(i)	Medical, Dental and Vision Benefits. During this Agreement, Executive
and his dependents will be entitled to receive such group medical, dental and vision benefits as the Company may provide to its
other executives, provided such coverage is reasonably available, or be reimbursed if Executive is carrying his own similar insurance.

 

		(ii)	Benefit Plans. The Executive will be entitled to participate in any
benefit plan or program of the Company which may currently be in place or implemented in the future.

 

		(iii)	Other Benefits. During the Term, Executive will be entitled to receive,
in addition to and not in lieu of base salary, bonus or other compensation, such other benefits and normal perquisites as the Company
currently provides or such additional benefits as the Company may provide for its executive officers in the future.

 

		(e)	Vacation. Executive will be entitled to two weeks paid vacation each
year of this Agreement.

 

5.Confidentiality and Non-Competition.

 

		(a)	Confidentiality. In the course of the performance
of Executive's duties hereunder, Executive recognizes and acknowledges that Executive may have access to certain confidential
and proprietary information of the Company or any of its affiliates. Without the prior written consent of the Company, Executive
shall not disclose any such confidential or proprietary information to any person or firm, corporation, association, or other
entity for any reason or purpose whatsoever, and shall not use such information, directly or indirectly, for Executive's own behalf
or on behalf of any other party. Executive agrees and affirms that all such information is the sole property of the Company and
that at the termination and/or expiration of this Agreement, at the Company's written request, Executive shall promptly return
to the Company any and all such information so requested by the Company.

 

The
provisions of this Section 5 shall not, however, prohibit Executive from disclosing to others or using in any manner information
that:

 

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		(i)	has been published or has become part of the public
domain other than by acts, omissions or fault of Executive;

 

		(ii)	has been furnished or made known to Executive by third
parties (other than those acting directly or indirectly for or on behalf of Executive) as a matter of legal right without restriction
on its use or disclosure;

 

		(iii)	was in the possession of Executive prior to obtaining
such information from Company in connection with the performance of this Agreement; or

 

		(iv)	is required to be disclosed by law.

 

		(b)	Non-Competition. Executive agrees that he will
not, for himself, on behalf of, or in conjunction with any person, firm, corporation or entity, either as principal, employee,
shareholder, member, director, partner, consultant, owner or part-owner of any corporation, partnership or any other type of business
entity, directly or indirectly, own, manage, operate, control, be employed by, participate in, or be connected in any manner with
the ownership, management, operation, or control of any establishment which has live female nude or semi-nude entertainment or
is in any business similar to or competitive with the female entertainment business presently conducted by the Company anywhere
in the United States within 50 miles of any female entertainment business of the Company or any female entertainment business
of the Company under construction, under contract, in development or leased by or to the Company, for a period of two years (the
“Non-Compete Period”) from the termination of this Agreement. However, in the event of the termination of Executive's
employment pursuant to Section 7(d) or 7(f), the Non-Compete Period shall be six months.

 

			Executive agrees not to hire, solicit or attempt to solicit for employment by Executive or any
company to which he may be involved, either directly or indirectly, any party who is an employee or independent contractor of the
Company or any entity which is affiliated with the Company, or any person who was an employee or independent contractor of the
Company or any entity which is affiliated with the Company within the two year period immediately following the termination of
this Agreement.

 

			Executive acknowledges that he has carefully read and considered all provisions of this Agreement
and agrees that:

 

		(i)	Due to the nature of the Company's business, the foregoing
covenants place no greater restraint upon Executive than is reasonably necessary to protect the business and goodwill of the Company;

 

		(ii)	These covenants protect the legitimate interests of
the Company and do not serve solely to limit the Company's future competition;

 

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		(iii)	This Agreement is not an invalid or unreasonable restraint
of trade;

 

		(iv)	A breach of these covenants by Executive would cause
irreparable damage to the Company;

 

		(v)	These covenants are reasonable in scope and are reasonably
necessary to protect the Company's business and goodwill which the Company has established through its own expense and effort;
and

 

		(vi)	The signing of this Agreement is necessary as part
of the consummation of the transactions described in the preamble.

 

6.Indemnification.
The Corporation shall to the full extent permitted by law or as set forth in the Articles of Incorporation and the Bylaws of the
Company, indemnify, defend and hold harmless Executive from and against any and all claims, demands, liabilities, damages, loses
and expenses (including reasonable attorney's fees, court costs and disbursements) arising out of the performance by him of his
duties hereunder except in the case of his willful misconduct.

 

7.Termination. This
Agreement and the employment relationship created hereby will terminate (i) upon the death or disability of Executive under section
7(a) or 7(b); (ii) with cause under Section 7(c); (iii) for good reason under Section 7(d); (iv) upon the voluntary termination
of employment by Executive under Section7(e); or without cause under Section 7(f).

 

		(a)	Disability. The Company shall have the right
to terminate the employment of the Executive under this Agreement for disability in the event Executive suffers an injury, illness,
or incapacity of such character as to substantially disable him from performing his duties without reasonable accommodation by
the Company hereunder for a period of more than one hundred eighty (180) consecutive days upon the Company giving at least thirty
(30) days written notice of termination.

 

		(b)	Death. This Agreement will terminate on the
Death of the Executive.

 

		(c)	With Cause. The Company may terminate this Agreement
at any time because of (i) Executive's material breach of any term of the Agreement, (ii) the determination by the Board of Directors
in the exercise of its reasonable judgment that Executive has committed an act or acts constituting a felony or other crime involving
moral turpitude, dishonesty or theft or fraud; or (iii) Executive's gross negligence in the performance of his duties hereunder,
provided, in each case, however, that the Company shall not terminate this Agreement pursuant to this Section 7(c) unless the
Company shall first have delivered to the Executive, a notice which specifically identifies such breach or misconduct and the
executive shall not have cured the same within fifteen (15) days after receipt of such notice.

 

 

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		(d)	Good Reason. The Executive may terminate his
employment for “Good Reason” if:

 

		(i)	he is assigned, without his express written consent,
any duties materially inconsistent with his positions, duties, responsibilities, or status with the Company as of the date hereof,
or a change in his reporting responsibilities or titles as in effect as of the date hereof; provided, however, that Executive
must provide the Company with written notice of his dispute of such re-assignment of duties or change in his reporting responsibilities
under this Section 7(d)(i) and give the Company opportunity to cure such inconsistency. If such dispute is not resolved within
thirty (30) days, the Company shall submit such dispute to arbitration under Section 14.

 

		(ii)	his compensation is reduced;

 

		(iii)	the Company does not pay any material amount of compensation
due hereunder and then fails either to pay such amount within the ten (10) day notice period required for termination hereunder
or to contest in good faith such notice. Further, if such contest is not resolved within thirty (30) days, the Company shall submit
such dispute to arbitration under Section 14.

 

		(e)	Voluntary Termination. The Executive may terminate
his employment voluntarily.

 

		(f)	Without Cause. The Company may terminate this
Agreement without cause.

 

8.Obligations
of Company Upon Termination.

 

		(a)	In the event of the termination of Executive's employment
pursuant to Section 7 (a), (b), (c) or (e), Executive will be entitled only to the compensation earned by him hereunder as of
the date of such termination (plus life insurance or disability benefits if applicable and provided for pursuant to Section 4(c)).

 

		(b)	In the event of the termination of Executive’s
employment pursuant to Section 7 (d), Executive will be entitled to receive, if successful in arbitration under Section 14, in
one lump sum payment the full remaining amount under the Term of this Agreement to which he would have been entitled had this
Agreement not been terminated.

 

		(c)	In the event of the termination of Executive’s
employment pursuant to Section 7 (f), Executive will be entitled to receive in one lump sum payment the full remaining amount
under the Term of this Agreement to which he would have been entitled had this Agreement not been terminated.

 

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9.Waiver of Breach.
The waiver by any party hereto of a breach of any provision of this Agreement will not operate or be construed as a waiver of any
subsequent breach by any party.

 

10.Costs.
If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party will
be entitled to reasonable attorney's fees, costs and necessary disbursements in addition to any other relief to which he or it
may be entitled. 

 

11.Notices. Any notices,
consents, demands, requests, approvals and other communications to be given under this Agreement by either party to the other will
be deemed to have been duly given if given in writing and personally delivered or within two days if sent by mail, registered or
certified, postage prepaid with return receipt requested, as follows:

 

	 	If
to Company:	Rick's Cabaret International, Inc.
			Attn: President

			10959 Cutten Road

			Houston, Texas 77066
	 	 	 
	 	If
to Executive:	Phil Marshall
	 	 	______________________________
	 	 	______________________________
	 	 	 

 

 

Notices
delivered personally will be deemed communicated as of actual receipt.

 

12.Entire Agreement.
This Agreement and the agreements contemplated hereby constitute the entire agreement of the parties regarding the subject matter
hereof, and supersede all prior agreements and understanding, both written and oral, among the parties, or any of them, with respect
to the subject matter hereof.

 

13.Severability. If
any provision of this Agreement is held to be illegal, invalid or unenforceable under present or future laws effective during this
Agreement, such provision will be fully severable and this Agreement will be construed and enforced as if such illegal, invalid
or unenforceable provision never comprised a part hereof; and the remaining provisions hereof will remain in full force and effect
and will not be affected by the illegal, invalid or unenforceable provision or by its severance herefrom. Furthermore, in lieu
of such illegal, invalid or unenforceable provision there will be added automatically as part of this Agreement a provision as
similar in its terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable.

 

14.Arbitration. If
a dispute should arise regarding this Agreement the parties agree that all claims, disputes, controversies, differences or other
matters in question arising out of this relationship shall be settled finally, completely and conclusively by arbitration in Houston,
Texas in accordance with the Commercial Arbitration Rules of the American Arbitration Association (the “Rules”). The
governing law of this Agreement shall be the substantive law of the State of Texas, without giving effect to conflict of laws.
A decision of the arbitrator shall be final, conclusive and binding on the Company and Executive. Any arbitration held in accordance
with this paragraph shall be private and confidential and no person shall be entitled to attend the hearings except the arbitrator,
Executive, Executive's attorneys, a representative of the Company, the Company's attorneys, and advisors to or witnesses for any
party. The matters submitted to arbitration, the hearings and proceedings and the arbitration award shall be kept and maintained
in the strictest confidence by Executive and the Company and shall not be discussed, disclosed or communicated to any persons except
as may be required for the preparation of expert testimony. On request of any party, the record of the proceeding shall be sealed
and may not be disclosed except insofar, and only insofar, as may be necessary to enforce the award of the arbitrator and any judgement
enforcing an award. The prevailing party shall be entitled to recover reasonable and necessary attorneys' fees and costs from the
non-prevailing party and the determination of such fees and costs and the award thereof shall be included in the claims to be resolved
by the arbitrator hereunder.

 

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Agreement - Page 6

    	 

    

 

15.Captions. The captions
in this Agreement are for convenience of reference only and will not limit or otherwise affect any of the terms or provisions hereof.

 

16.Gender and Number.
When the context requires, the gender of all words used herein will include the masculine, feminine and neuter and the number of
all words will include the singular and plural.

 

17.Counterparts. This
Agreement may be executed in one or more counterparts, each of which will be deemed an original and all of which will constitute
one and the same instrument, but only one of which need be produced.

 

18.Company Authorization.
The Company represents that the Board of Directors has approved this Agreement.

 

IN WITNESS WHEREOF,
the parties hereto have duly executed this Agreement on June 27, 2013, to become effective as of the day and year first above written.

 

 

	 	 	COMPANY:
	 	 	 
			RICK'S CABARET INTERNATIONAL, INC.

 

		By:	_/s/ Eric Langan____________________

			Eric Langan, President/CEO

 

 

 

	 	EXECUTIVE:
	 	 	 
		By:	__/s/ Phillip K. Marshall______________
	 	 	Phillip K. Marshall

 

    	Employment Agreement - Page 7Exhibit 10.1

 

SECOND AMENDMENT TO 

AMENDED AND RESTATED CONDITIONAL FEE
WAIVER AGREEMENT

 

This Second Amendment
to the Amended and Restated Conditional Fee Waiver Agreement (this “Amendment”) is made as of June 28, 2013
by and among HMS Income Fund, Inc. (the “Company”), HMS Adviser LP (the “Adviser”), Main
Street Capital Corporation (“Main Street”) and Main Street Capital Partners, LLC (“Main Street Capital
Partners” and, together with Main Street, the “Sub-Adviser”). The Adviser and the Sub-Adviser are
collectively referred to herein as the “Advisers.”

 

WHEREAS, on
May 31, 2012, the Company, the Adviser and Main Street Capital Partners entered into that certain Conditional Fee Waiver Agreement
(the “Original Agreement”) pursuant to which the Adviser and Main Street Capital Partners agreed to conditionally
waive certain fees under that certain Investment Advisory and Administrative Services Agreement, dated May 31, 2012, by and between
the Company and the Adviser and that certain Sub-Advisory Agreement, dated May 31, 2012, by and among the Company, the Adviser
and the Sub-Adviser, respectively, to the extent that some or all of the distributions paid to the Company’s stockholders
are estimated to represent a return of capital for purposes of U.S. federal income tax;

 

WHEREAS, on
March 26, 2013, the Company and the Advisers amended and restated the Original Agreement (the “Fee Waiver Agreement”)
primarily to reflect the extension of the term of the Fee Waiver Period (as defined therein) through September 30, 2013 and, on
May 14, 2013, the Company and the Advisers amended the Fee Waiver Agreement to clarify that the repayment of any Waived Fees is
to be made within a period not to exceed three (3) years from the date of each respective waiver of Waived Fees; and

 

WHEREAS, the
Company and the Advisers now desire to again amend the Fee Waiver Agreement to (i) reflect the extension of the term of the Fee
Waiver Period through December 31, 2013 and (ii) allow the Advisers to waive fees upon the occurrence of any event, in the Advisers’
sole discretion, which may include, but neither limited to nor automatically triggered by, the Company’s estimate that a
distribution declared and payable to the Company’s stockholders during the Fee Waiver Period represents, or would represent
when paid, a return of capital for U.S. federal income tax purposes.

 

NOW, THEREFORE,
in consideration of the premises and the mutual agreements herein contained, and for other good and valuable consideration (the
receipt and sufficiency of which are hereby acknowledged), the parties hereto agree as follows:

 

1.                 
Capitalized Terms. All capitalized terms stated herein shall have the same meanings as ascribed to them in the Fee
Waiver Agreement unless otherwise defined.

 

2.                 
Waived Fees. Section 1 of the Fee Waiver Agreement is hereby amended and restated in its entirety to read as follows:

 

Waived Fees.  During
the period beginning at the time that the Company’s Registration Statement is declared effective by the SEC and continuing
through December 31, 2013 (the “Fee Waiver Period”), the Advisers hereby agree to waive the Base Management
Fee and/or Incentive Fee, proportionally, as each term is defined and further described in the Advisory Agreement, due and payable
by the Company to the Advisers in the sole discretion of the Advisers taking into account the potential occurrence of any event
including, but neither limited to nor automatically triggered by, the Company’s estimate that a distribution declared and
payable to the Company’s stockholders during the Fee Waiver Period represents, or would represent when paid, a return of
capital for purposes of U.S. federal income tax. The amounts waived pursuant to the preceding sentence shall be referred to herein
as the “Waived Fees.” The Company shall promptly notify the Advisers of the amount of any Waived Fees and shall
deduct the Waived Fees from the amount, if any, otherwise due and payable by the Company to the Adviser pursuant to the terms of
the Advisory Agreement (and therefrom payable by the Adviser to the Sub-Adviser pursuant to the Sub-Advisory Agreement) for the
applicable month. If the amount owed by the Company to the Adviser pursuant to the Advisory Agreement exceeds the Waived Fees,
the Company shall pay any such excess amount to the Adviser in accordance with the terms of the Advisory Agreement (and therefrom
payable by the Adviser to the Sub-Adviser pursuant to the Sub-Advisory Agreement).

    	 

    	 

    
 

 

3.                 
Ratification of Fee Waiver Agreement. Except as modified by this Amendment, all of the terms and provisions of the
Fee Waiver Agreement are hereby ratified and confirmed by the parties thereto and shall remain in full force and effect.

 

4.                 
Interpretation. This Amendment shall be governed by and construed in accordance with the laws of the State of Texas
(without reference to its conflicts of laws provisions) and the applicable provisions of the Investment Company Act of 1940, as
amended (the “1940 Act”) and the Investment Advisers Act of 1940, as amended (the “Advisers Act”).
To the extent that the applicable laws of the State of Texas or any of the provisions herein, conflict with the applicable provisions
of the 1940 Act or the Advisers Act, the latter shall control. Further, nothing herein contained shall be deemed to require the
Company to take any action contrary to the Company’s Amended and Restated Articles of Incorporation or the Amended and Restated
By-Laws, as each may be amended or restated, or to relieve or deprive the Company’s board of directors of its responsibility
for and control of the conduct of the affairs of the Company.

 

5.                 
Counterparts. This Amendment may be executed in multiple counterparts, all of which taken together shall constitute
one and the same agreement, binding upon the parties hereto.

 

[Signature Page to Follow]

 

    	 

    	 

    
 

 

[Signature Page to Second Amendment to Amended
and Restated Conditional Fee Waiver Agreement]

 

IN WITNESS WHEREOF,
the parties have caused this Second Amendment to Amended and Restated Conditional Fee Waiver Agreement to be signed by their respective
officers thereunto duly authorized, as of the day and year first above written.

 

	 	COMPANY:
	 	 
	 	HMS INCOME FUND, INC.
	 	 
	 	By: /s/ Ryan T. Sims                                    
	 	Name: Ryan T. Sims
	 	Title: Chief Financial Officer and Secretary

 

	 	ADVISER:
	 	 
	 	HMS ADVISER LP
	 	 
	 	 	By:	HMS ADVISER GP, LLC, its general partner
	 	 	 	 
	 	 	 	By: /s/ Ryan T. Sims                                    
	 	 	 	Name: Ryan T. Sims
	 	 	 	Title: Chief Financial Officer and Secretary

 

	 	MAIN STREET:
	 	 
	 	MAIN STREET CAPITAL CORPORATION
	 	 
	 	By: /s/ Jason B. Beauvais                          
	 	Name: Jason B. Beauvais
	 	Title: Senior Vice President
	 	 
	 	MAIN STREET CAPITAL PARTNERS:
	 	 
	 	MAIN STREET CAPITAL PARTNERS, LLC
	 	 
	 	By: /s/ Jason B. Beauvais                          
	 	Name: Jason B. Beauvais
	 	Title: Senior Vice President

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