Document:

Exhibit

ELECTRONIC ARTS INC.
2000 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD NOTICE 
FOR OUTSIDE DIRECTORS

[Participant Information]
Electronic Arts Inc., a Delaware corporation (the “Company”), hereby grants on the date hereof (the “Award Date”) to the individual named above (the “Participant”) an award of Restricted Stock Units with a deferral feature (the “Award”) issued under the Company’s 2000 Equity Incentive Plan, as amended (the “Plan”), to receive the total number of shares of the Company’s Common Stock set forth below (the “Award Shares”).  The Award is subject to all the terms and conditions set forth herein, including the terms and conditions in the attached Appendix A (collectively, the “Award Agreement”) and in the Plan, the provisions of which are incorporated herein by reference.  All capitalized terms used in this Award Agreement that are not defined herein have the meanings defined in the Plan.  The principal features of the Restricted Stock Units are as follows:

[Grant information Award Date/number of shares subject to Award]

Vesting Schedule:  Subject to the terms and conditions of the Plan and the Award Agreement, the Restricted Stock Units shall vest on the earlier of (i) the 2018 Annual Meeting of the Stockholders or (ii) 12 months from the Award Date, provided in the case of clause (i) or clause (ii) that the Participant is and has remained continuously in the service of the Company as a member of the Board of Directors.  

PLEASE READ ALL OF APPENDIX A WHICH CONTAIN THE SPECIFIC TERMS AND CONDITIONS OF THE AWARD.

ELECTRONIC ARTS INC.
/s/ Jacob J. Schatz
Jacob J. Schatz
Senior Vice President, General Counsel

ACCEPTANCE:
By accepting the Award, Participant acknowledges the receipt of the Award and agrees to voluntarily participate in the Plan.  Participant hereby acknowledges that a copy of the Plan and a copy of the Prospectus, as amended, are available upon request from the Company’s Stock Administration department and can also be accessed electronically.  Participant represents that Participant has read and understands the contents of the Plan, the Prospectus and the Award Agreement, and accepts the Restricted Stock Units subject to all the terms and conditions of the Plan and the Award Agreement.  Participant understands and acknowledges that there may be tax consequences related to the grant and vesting of the Restricted Stock Units and the sale of the underlying Award Shares and that Participant should consult a tax advisor to determine his or her actual tax consequences.  Participant must accept this Award by executing and delivering a signed copy of this Award Agreement to the Company or by electronically accepting this Award Agreement pursuant to the online acceptance procedure established by the Company within thirty (30) days of receipt of the Award Agreement.  Otherwise, the Company may, at its discretion, rescind the Award Agreement and the Restricted Stock Units granted thereunder in its entirety.
ACKNOWLEDGED AND AGREED:                    
        
[NAME]    Date    

APPENDIX A
ELECTRONIC ARTS INC.
2000 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT
FOR OUTSIDE DIRECTORS

 All capitalized terms used in this Appendix A that are not defined herein have the meanings defined in the Plan.  This Appendix A constitutes part of the Award Agreement.
1.    Form of Award.  Each Restricted Stock Unit granted under the Plan shall be evidenced by an Award Agreement in such form (which need not be the same for each Participant) as the Committee shall from time to time approve, which shall comply with and be subject to the terms and conditions of the Plan.

2.    Award Date.  The Award Date of the Restricted Stock Units shall be the date on which the Committee makes the determination to grant such Restricted Stock Units, unless otherwise specified by the Committee. The Award Agreement evidencing the grant of the Restricted Stock Units will be delivered to Participant within a reasonable time after the Award Date. 

3.    Award.  Each Restricted Stock Unit represents the unsecured right to receive one Award Share, subject to certain restrictions and subject to the terms and conditions contained in this Award Agreement and the Plan.  In the event of any conflict between the terms of the Plan and this Award Agreement, the terms of the Plan shall govern.

4.    No Shareholder Rights.  The Restricted Stock Units do not entitle Participant to any rights of a holder of Common Stock.  The rights of Participant with respect to the Restricted Stock Units shall remain forfeitable at all times prior to the date on which such rights become vested.

5.    Conversion of Restricted Stock Units; Issuance of Award Shares.  

(a)No Award Shares shall be issued to Participant prior to the date on which the Restricted Stock Units vest.  After any Restricted Stock Units vest pursuant to the vesting schedule set forth in the first page of the Award Agreement, or, if earlier, pursuant to Section 8(b) below, the Company shall promptly cause to be issued in book-entry form, registered in Participant’s name or in the name of Participant’s legal representatives or heirs, as the case may be, Award Shares in payment of such vested whole Restricted Stock Units; provided, however, that in the event such Restricted Stock Units do not vest on a day during which the Common Stock is quoted on the Nasdaq Global Select Market (or traded on such other principal national securities market or exchange on which the Common Stock may then be listed) (“Trading Day”), the Company shall cause Award Shares to be issued on the next Trading Day following the date on which such Restricted Stock Units vest; provided, further, that in no event shall the Company cause such Award Shares to be issued later than two (2) months after the date on which such Restricted Stock Units vest.  For purposes of this Award, the date on which vested Restricted Stock Units are converted into Award Shares shall be referred to as the “Conversion Date.”

(b)Notwithstanding the foregoing, Participant may have elected to defer payment of his or her Restricted Stock Units if Participant completed a deferral election in the calendar year preceding the Award Date.  Deferral elections must be made no later than the last day of the calendar year preceding the year in which the Award is granted; provided, however, that a newly-eligible Participant may make a deferral election, provided that the election is made not more than thirty days after the Participant first becomes eligible for an Award under the Plan and applies only to that portion of the Award earned after the date the election is made.

(c)An election Participant made to defer payment of Awards will remain in effect until Participant modifies or revokes the election.  Participant may modify or revoke the deferral election with respect to payment of future Awards, provided that the modification or revocation of the election is made not later than last day of the calendar year preceding the year in which the modification or revocation will become effective.

(d)Participant is required to indicate on the initial deferral election the date on which the Participant elects to receive payment of his or her deferred Awards, provided that payment shall be made on (i) the fifth anniversary of the date the Restricted Stock Units vest, (ii) the tenth anniversary of the date the Restricted Stock Units vest, or (iii) the date Participant Separates from Service.  Shares subject to deferred Awards are paid in a lump sum within two (2) months of the elected deferral date.

(e)Notwithstanding Participant’s election to receive payment of his or her Restricted Stock Units on the fifth or tenth anniversary of the vesting date, all Shares subject to vested Restricted Stock Units shall be distributed within two (2) months following Participant’s Separation from Service. For purposes of this Award Agreement, “Separation from Service” means termination of service with the Company as described in Section 409A of the Code.

(f)Notwithstanding any other provision of the Plan or this Appendix A to the contrary, no distribution of Award Shares shall be made that would constitute an impermissible acceleration of payments as defined in Section 409A(a)(3) of the Code and regulations promulgated thereunder.

6.    Fractional Restricted Stock Units.  In the event Participant would otherwise become vested in a fractional portion of a Restricted Stock Unit (a “Fractional Portion”) based on the vesting terms of the Restricted Stock Units, such Fractional Portion shall instead remain unvested until the final vesting date for the Restricted Stock Units; provided, however, that if Participant would otherwise vest in a subsequent Fractional Portion prior to the final vesting date for the Restricted Stock Units and such Fractional Portion taken together with a previous Fractional Portion that remained unvested would equal a whole Award Share, then such Fractional Portions shall vest and be converted into one Share.  Upon the final vesting date, the value of any remaining Fractional Portion(s) shall be rounded up to the nearest whole Award Share at the same time as the conversion of the remaining Restricted Stock Units and issuance of Award Shares described in Section 5 above. 

7.    Restriction on Transfer.  Neither the Restricted Stock Units nor any rights under this Award may be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of by Participant other than by will or by the laws of descent and distribution, and any such purported sale, assignment, transfer, pledge, hypothecation or other disposition shall be void and unenforceable against the Company.  Notwithstanding the foregoing, Participant may, in the manner established by the Committee, designate a beneficiary or beneficiaries to receive any property distributable with respect to the Restricted Stock Units upon Participant’s death.

8.    Termination of Service. In the event that Participant’s service is Terminated for any reason and the Restricted Stock Units have not vested as of the date the Participant’s Separation from Service, then the unvested Restricted Stock Units shall be forfeited immediately upon such Separation from Service and Participant will have no right to the Restricted Stock Units or the underlying Award Shares.

9.    Nature of Plan and Award.  In accepting the Award, Participant acknowledges, understands and agrees that:

(a)    the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;

(b)    the grant of Restricted Stock Units is voluntary and occasional and does not create any contractual or other right to receive future Awards, or benefits in lieu of Awards, even if Awards have been granted in the past;  
 
(c)    all decisions with respect to future grants of Restricted Stock Units or other grants, if any, will be at the sole discretion of the Company; 

(d)    nothing in the Plan or the Award shall confer on Participant any right to continue in the service with, the Company or limit in any way the ability of the Company to terminate Participant’s service relationship with or without cause;

(e)    Participant is voluntarily participating in the Plan;  

(f)    the Restricted Stock Units and the Award Shares subject to the Restricted Stock Units are not intended to replace any pension rights or compensation; 

(g)    the Restricted Stock Units and the Award Shares subject to the Restricted Stock Units, and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, pension or retirement or welfare benefits or similar mandatory payments;

(h)    in the event that Participant is not an employee of the Company, the Award and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company;

(i)    the future value of the underlying Award Shares is unknown, indeterminable and cannot be predicted with certainty; 

(j)    no claim or entitlement to compensation or damages shall arise from forfeiture of the Restricted Stock Units resulting from Termination of Participant’s service;

(k)    for purposes of the Restricted Stock Units, Participant’s service relationship will be considered terminated as of the date of Participant’s Separation from Service and, unless otherwise expressly provided in this Award Agreement or determined by the Company, Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period; the Committee shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of the Award (including whether Participant may still be considered to be providing services while on a leave of absence); and
    
10.    No Advice Regarding Grant.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Award Shares.  Participant is hereby advised to consult with his or her own tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.

11.    Responsibility for Taxes.  Participant acknowledges that, regardless of any action taken by the Company, the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to Participant’s participation in the Plan and legally applicable to Participant (“Tax-Related Items”) is and remains Participant’s responsibility.  Participant further acknowledges that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Restricted Stock Units, including, but not limited to, the grant, vesting, deferral or settlement of the Restricted Stock Units, the issuance of Award Shares upon settlement of the Restricted Stock Units, the subsequent sale of Award Shares acquired pursuant to such settlement; and (b) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Restricted Stock Units to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result.  

12.    Termination of the Deferral Feature.  
(a)    The Board, in its discretion, may terminate the deferral feature of the Award at any time and for any reason and may distribute the Award Shares subject to the deferred Restricted Stock Units within the period beginning twelve months after the date the deferral feature is terminated and ending twenty-four months after the date the deferral feature is terminated, or pursuant to Section 5(d) or 5(e) if earlier.  If the deferral feature of this Award is terminated and the Award Shares subject to the deferred Restricted Stock Units are distributed, the Company shall terminate all substantially similar non-qualified deferred equity compensation arrangements with respect to all participants and shall not adopt a new, similar non-qualified deferred equity compensation arrangement for at least five years after the date the deferral feature is terminated, in accordance with Section 409A of the Code and the regulations promulgated thereunder.
(b)    The deferral feature of this Award shall automatically terminate upon a dissolution of the Company that is taxed under Section 331 of the Code or with the approval of a bankruptcy court pursuant to 11 U.S.C. section 503(b)(1)(A), provided that the Award Shares subject to the deferred Restricted Stock Units are distributed and included in the gross income of the Participant by the latest of (i) the calendar year in which the deferral feature is terminated or (ii) the first calendar year in which payment of the deferred Restricted Stock Units is administratively practicable.
(c)    The Board, in its discretion, may terminate the deferral feature of the Award thirty days prior to or twelve months following a Change in Control (as defined in the Attachment 1) and distribute the Shares subject to the deferred Restricted Stock Units within the twelve-month period following the termination of the deferral feature.  If the deferral feature of the Award is terminated and the Award Shares subject to the deferred Restricted Stock Units are distributed, the Company shall terminate all substantially similar non-qualified deferred equity compensation arrangements sponsored by the Company and all of the benefits of the terminated arrangements shall be distributed within twelve months following the termination of the arrangements.
13.    Compliance with Laws and Regulations.  The issuance and transfer of Award Shares shall be subject to compliance by the Company and Participant with all applicable requirements of federal, state and foreign laws and with all applicable requirements of any stock exchange or national market system on which the Company’s common stock may be listed at the time of such issuance or transfer.  The Company is not required to issue or transfer Award Shares if to do so would violate such requirements.
14.    Insider Trading Restrictions/Market Abuse Laws.  Participant acknowledges that, depending on his or her country of residence, Participant may be subject to insider trading restrictions and/or market abuse laws, which may affect his or her ability to acquire or sell Award Shares or rights to Award Shares (e.g., Restricted Stock Units) under the Plan during such times as Participant is considered to have “inside information” regarding the Company.  Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Company insider trading policy.  

Participant is solely responsible for ensuring his or her compliance with any applicable restrictions and is advised to consult his or her personal legal advisor on this matter.

15.    Electronic Delivery and Participation.  The Company may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means.  Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.  

16.    Authority of the Board and the Committee.  Any dispute regarding the interpretation of the Award shall be submitted by Participant or the Company to the Board or the Committee, which shall review such dispute at its next regular meeting.  The resolution of such a dispute by the Board or Committee shall be final and binding on the Participant and the Company.

17.    409(A).  Payments made pursuant to this Plan and Award are intended to comply with Section 409A of the Code.  The Company reserves the right, to the extent the Company deems necessary or advisable in its sole discretion, to unilaterally amend or modify the Plan and/or this Award Agreement to ensure that the Award is made in a manner that qualifies for exemption from or complies with Section 409A of the Code or to mitigate any additional tax, interest and/or penalties or other adverse tax consequences that may apply under Section 409A of the Code if compliance is not practical; provided, however, that the Company makes no representation that the Award will be exempt from or compliant with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to the Award.  Nothing in the Plan or this Award Agreement shall provide a basis for any person to take any action against the Company or any of its Subsidiaries based on matters covered by Section 409A of the Code, including the tax treatment of any payments made under this Award Agreement, and neither the Company nor any of its Subsidiaries will have any liability under any circumstances to the Participant or any other party if the grant of the Award, the conversion of the Restricted Stock Units or other event hereunder that is intended to be exempt from, or compliant with, Code Section 409A, is not so exempt or compliant or for any action taken by the Board or the Committee with respect thereto.

18.    Governing Law and Choice of Venue.  The Award as well as the terms and conditions set forth in the Plan shall be governed by, and subject to, the laws of the State of California, U.S.A., without regard to such state’s conflict of laws provisions, as provided in the Plan.  For purposes of any action, lawsuit or other proceedings brought to enforce this Award Agreement, relating to it, or arising from it, the parties hereby submit to and consent to the exclusive jurisdiction of the courts of San Mateo County, California, U.S.A., or the federal courts for the United States for the Northern District of California, U.S.A., and no other courts, where this grant is made and/or to be performed.

19.    Captions.  Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Award.

20.    Language.  If Participant has received this Award Agreement or any other document related to the Award and/or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

21.    Severability.  The provisions of this Award Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.  Further, upon a determination that any term or other provision of this Award Agreement is illegal or otherwise incapable of being enforced, such term or other provision shall be deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the illegal or unenforceable term or provision.

22.    Entire Agreement.  The Award Agreement, including this Appendix A and Appendix B, and the Plan constitute the entire agreement of the parties and supersede all prior undertakings and agreements with respect to the subject matter hereof. 

23.    Imposition of Other Requirements.  The Company reserves the right to impose other requirements on Participant’s participation in the Plan, on the Restricted Stock Units and on any Award Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

24.    Waiver.  Participant acknowledges that a waiver by the Company of breach of any provision of this Award Agreement shall not operate or be construed as a waiver of any other provision of this Award Agreement, or of any subsequent breach by Participant or any other Plan participant.

25.    Notice.  Copies of the Plan and Prospectus are available electronically at http://eaworld.ea.com/StockAdministrationServices. The Company's most recent annual report and published financial statements are available electronically as soon as practicable after their publication by clicking the "Financial Reports" link at http://investor.ea.com. The Plan, Prospectus, the Company's annual report, and the Company's financial statements are also available at no charge by submitting a request to the Company's Stock Administration Department at Stock Admin@ea.com.

ELECTRONIC ARTS INC.
2000 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT
FOR OUTSIDE DIRECTORS

ATTACHMENT 1
A “Change in Control” shall be deemed to have occurred if the event set forth in any one of the following subsections shall have occurred:
(i)    Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (“Exchange Act”)) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of (A) the then outstanding common stock of the Company or (B) the total voting power represented by the Company’s then outstanding voting securities; or
(ii)    The stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or the consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity, which would result in the common stock or voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the outstanding shares or common stock  or total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such sale or disposition; or
(iii)    The consummation of a merger or consolidation of the Company or any direct or indirect subsidiary of the Company by virtue of the closing or effective date of such merger or consolidation with any other corporation, other than a merger or consolidation which would result in the common stock or voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the outstanding shares or common stock  or total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation; or 
(iv)    A change in the composition of the Board during any twelve-month period, as a result of which less than a majority of the Directors are Incumbent Directors. “Incumbent Directors” shall mean Directors who either (A) are directors of the Company as of the date hereof, or (B) are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of those directors whose election or nomination was not in connection with any transaction described in subsections (i), (ii) or (iii) or in connection with an actual or threatened proxy contest relating to the election of directors of the Company.
Notwithstanding the foregoing, the definition of Change in Control is intended to comply with Section 409A of the Code, Notice 2005-1, and the regulations promulgated thereunder, and the definition of Change in Control shall be construed in a manner to so comply.Exhibit 10.1

 

CUSTODY AGREEMENT

 

 

Stellus Capital Investment Corporation (the “Company”)
and any its wholly owned subsidiaries identified by the Company to the Custodian (the “Subsidiaries”) are depositing
with ZB, National Association, dba Amegy Bank, as Custodian, hereinafter referred to as the "Custodian", certain Securities
(as defined below) and cash owned by the Company and the Subsidiaries (as applicable). The Company and its Subsidiaries are hereinafter
together referred to as the “Customer". The Customer directs that the Custodian hold the Securities and cash in custody
and perform services in connection therewith, in accordance with the following:

 

		1.	(a)The Custodian shall hold the Securities (as defined below) and cash placed in its custody in a segregated account, and
physically segregated at all times from those of other persons, firms or corporations, for the account of the Company, or as applicable
any Subsidiary, subject to the terms and conditions stated in this Custody Agreement (a "Custody Account"). All such
Securities are to be held or disposed of by the Custodian for, and subject at all times to the instructions of, the Customer, pursuant
to the terms of this Custody Agreement. Securities will be held at a depository selected by the Custodian and in the form required
by the depository, which may include registration in a nominee name or in book entry form. If the Securities held for the Customer
are held in book entry form, ownership is recorded, but tangible certificates are not issued. The Custodian shall have no power
or authority to assign, hypothecate, pledge or otherwise dispose of any such Securities and investments except pursuant to the
direction of the Company under terms of this Custody Agreement. The term “Securities” includes stocks, shares, bonds,
debentures, notes, mortgages or other obligations and any certificates, receipts, warrants or other instruments representing rights
to receive, purchase, or subscribe for the same, or evidencing or representing any other rights or interests therein, or in any
property or assets.

 

To the maximum extent possible,
the provisions of this Custody Agreement regarding Securities and cash of the Company and the Custody Account shall be applicable
to any Securities and cash owned by any Subsidiary Custody Account. The parties hereto agree that the Company shall notify the
Custodian in writing as to the establishment of any Subsidiary as to which the Custodian is to serve as custodian pursuant to the
terms of this Agreement; and identify in writing any accounts the Custodian shall be required to establish for such Subsidiary
as herein provided.

 

		2.	The Custodian shall open and maintain a segregated account or accounts in the name of the Customer, including any Subsidiary
(as applicable), subject only to order of the Custodian acting pursuant to this Custody Agreement, in which the Custodian shall
hold cash of the Customer delivered to it in accordance with this Custody Agreement

 

Custodian shall make payments of cash to, or for the
account of, the Customer from such cash only (a) for the purchase of Securities for the portfolio of the Customer upon the delivery
of such Securities to Custodian, registered in the name of the Customer or of the nominee of Custodian in proper form for transfer,
(b) for the purchase or redemption of shares of the capital stock of the Customer upon delivery thereof to Custodian, (c) for the
payment of interest, dividends, taxes, management or supervisory fees or operating expenses (including, without limitation thereto,
fees for legal, accounting and auditing services), (d) for payments in connection with the conversion, exchange or surrender of
Securities owned or subscribed to by the Customer held by or to be delivered to Custodian; or (e) for other proper corporate purposes.
Before making any such payment, Custodian shall receive (and may rely upon) an Officers’ Certificate (as defined below) requesting
such payment and stating that it is for one of the purposes listed above, and for (e), upon receipt of an Officers’ Certificate
and a certified copy of a resolution of the Customer’s Board of Directors , specifying the amount of such payment, setting
forth the purpose for which such payment is to be made, declaring such purpose to be a proper corporate purpose, and naming the
person or persons to whom such payment is to be made.

 

    - 1 -

     

    

 

“Officers’ Certificate” shall mean
a request to direction or certification in writing signed in the name of the Customer by any two of the Authorized Persons identified
in Section 18 as such section may be updated from time to time in the discretion of the Customer. An officer of the Customer will
certify to Custodian the names and signatures of those persons authorized to sign the Officers' Certificates, and the names of
the members of the Board of Directors, together with any changes which may occur from time to time.

 

Custodian is hereby authorized to endorse and collect
all checks, drafts or other orders for the payment of money received by Custodian for the account of the Customer.

 

		3.	Upon Proper Instruction (as defined below), Custodian shall have authority to release or deliver any Securities of the Customer
held by it pursuant to this Custody Agreement. Custodian agrees to transfer, exchange, or deliver Securities held by it hereunder
only (a) for sales of such Securities for the account of the Customer upon receipt by Custodian of payment therefor, (b) when such
Securities are called, redeemed or retired or otherwise become payable, (c) for examination by any broker selling any such Securities
in accordance with “street delivery” custom, (d) in exchange for or upon conversion into other Securities alone or
other Securities and cash whether pursuant to any plan or merger, consolidation, reorganization, recapitalization or readjustment,
or otherwise, (e) upon conversion of such Securities pursuant to their terms into other Securities, (f) upon exercise of subscription,
purchase or other similar rights represented by such Securities, (g) for the purpose of exchanging interim receipts or temporary
Securities for definitive Securities, (h) for the purpose of redeeming in kind shares of capital stock of the Customer upon delivery
thereof to Custodian, or (i) for other proper corporate purposes. As to any deliveries made by Custodian pursuant to items (b),
(d), (e), (f), and (g), Securities or cash receivable in exchange therefor shall be deliverable to Custodian. Before making any
such transfer, exchange or delivery, the Custodian shall receive an Officers’ Certificate authorizing such transfer, exchange
or delivery and stating that it is for a purpose permitted under the terms of items (a), (b), (c), (d), (e), (f), (g), or (h) of
this section and also upon receipt of an Officers’ Certificate and a certified copy of a resolution of the Board of Directors,
specifying the Securities to be delivered, setting forth the purpose for which such delivery is to be made, declaring such purposes
to be proper corporate purposes, and naming the person or persons to whom delivery of such Securities shall be made in respect
of Item (i).

 

		4.	The Custodian does not assume any obligation to review the Securities held by it for the Customer, or to supervise, advise
or recommend to the Customer the purchase, retention, sale, exchange or deposit in reorganization or otherwise, at any time, unless
provided for by a separate written agreement between the parties. The Custodian's sole duty shall be to follow the written directions
of an Authorized Person as designated in this Custody Agreement, or as amended in an Officers’ Certificate delivered to the
Custodian from time to time hereafter. The below designated Authorized Person(s), and additional person(s) as may be designated
from time to time hereafter to act as an Authorized Person, has the legal power to deposit Securities or cash with the Custodian,
and to effect any additions, substitutions, withdrawals and any other actions with regard to the Custody Account.

 

    - 2 -

     

    

 

The Custodian shall have no power or authority to
assign, hypothecate, pledge or otherwise dispose of any such Securities and investments except pursuant to the direction of the
Company under terms of this Custody Agreement.

 

The Custodian will be under no obligation to take
any action, or omit to take any action, with regard to stocks, dividends, warrants, rights to subscribe, plans of reorganization
or recapitalization, or plans for the exchange of Securities. Upon Proper Instruction, the Custodian is authorized to reregister
defaulted Securities in the Customer's name.

 

		5.	The Custodian will not be held responsible for the genuineness, validity, alteration of, or defect in, the Securities. The
Custodian will not be liable for any loss or damage to Securities in the Custody Account unless the loss or damage is due to the
Custodian's failure to exercise reasonable care. The Securities in the Custody Account (including any certificates or shares of
any investment company mutual fund or money market fund that may be held in the Custody Account) are not insured by the Federal
Deposit Insurance Corporation (“FDIC”), nor protected by the Securities Investor Protection Corporation (“SIPC”),
and the Custodian itself will be under no obligation to insure the Securities in the Custody Account.

 

		6.	The Custodian shall collect interest, cash dividends and other income from Securities registered in the Custodian's nominee
name that the Customer has deposited in the Custody Account. Unless instructed otherwise in writing, the Custodian shall use its
best efforts to present for payment all coupons and other income items held by it for the account of the Customer which call for
payment upon presentation and hold the cash received by it upon such payment for the account of the Customer. The Custodian is
under no obligation to present coupons or Securities for payment prior to their due date. The Custodian will have no liability
for failure to collect principal and interest, due to failure of the obligor or payor of any Securities held in the Custody Account
to make timely payment thereon, and will not be obligated to institute or participate in any related legal proceedings. Unless
instructed otherwise in writing, the Custodian shall hold for the account of the Customer all stock dividends, rights and similar
Securities issued with respect to any Securities held by the Custodian hereunder.

 

		7.	If income from the Securities is to be forwarded to the Customer, the Custodian reserves the right to withhold the payment
until the Custodian receives final cash payment of any items sent for collection. If income from the Securities is credited to
the Customer's Custody Account, the credit is made, provisionally, subject to the Custodian's receipt of final cash payment of
any items sent for collection. The Custodian reserves the right to decline payment of checks drawn against the provisional credits
and to revoke the provisional credits and any interest earned thereon.

 

		8.	Upon Proper Instructions, the Custodian will place for the Customer's risk and account, orders for the purchase or sale of
Securities, provided that the funds or the Securities are on hand in deliverable form, as applicable. The Customer agrees to execute
and deliver to the Custodian written confirmation of purchases, sales or other transactions affecting the account, in form satisfactory
to the Custodian. The Custodian will not be liable for or on account of any act or omission of any broker or agent selected by
the Customer or by the Custodian to purchase or sell Securities for the account of the Customer.

 

    - 3 -

     

    

 

“Proper Instructions” means instructions
received by the Custodian in form acceptable to it, from the Company, or any Person duly authorized by the Company, by any of the
following means:

 

(a)       in
writing signed by an Authorized Person (and delivered by hand, by United States mail, registered or certified, with return receipt
requested, by overnight courier or by facsimile);

 

(b)       by
electronic mail from an Authorized Person;

 

(c)       telephonic
instructions promptly confirmed in writing by the Customer; or

 

(d)       such
other means as may be agreed upon from time to time by the Custodian and the party giving such instructions, including oral instructions.

  

		9.	The Customer recognizes that the Custodian is a participant of the Depository Trust Company ("DTC") and is bound
by its Bylaws and Rules, as they may be amended from time to time. The Customer agrees that it shall have no greater or different
rights or remedies against the Custodian than the Custodian would have against DTC or any other Custodian with respect to the Property.

 

		10.	Any Securities, cash or payments received after the regular close of business or other deadlines shall be deemed received the
next business day. On a monthly basis, Custodian shall furnish the Customer with a statement summarizing all transactions and entries
for the account of the Customer. Customer hereby agrees to waive the receipt of trade confirmations as they occur.

 

The Custody Account is subject to reasonable charges
and conditions which are from time to time imposed by the Custodian or by law and such charges will be assessed to the Customer
under written advice. The Customer agrees to pay the Custodian's fees as set forth in Schedule "A" attached hereto, and
any out-of-pocket expenses incurred or chargeable to the Custody Account. If the Custodian does not receive the Customer's payment
of such fees or charges within thirty days of the date of any invoice, the Custodian is authorized to debit the Customer's account
or otherwise offset against any funds due the Customer.

 

		11.	Except as otherwise directed by an Officers’ Certificate, Custodian shall register all Securities in the name of a registered
nominee of Custodian as defined in the Code and any Treasury Regulations issued thereunder or in any provision of any subsequent
federal tax law exempting such transaction from liability for stock transfer taxes, and shall execute and deliver all such certificates
in connection therewith as may be required by such laws or Treasury Regulations or under the laws of any state. Custodian shall
use its best efforts to the end that the specific Securities held by it hereunder shall be at all times identifiable in its records.

 

    - 4 -

     

    

 

The Customer shall from time to time furnish to Custodian
appropriate instruments to enable Custodian to hold or deliver in proper form for transfer, or to register in the name of its registered
nominee, any Securities which it may hold for the account of the Customer and which may from time to time be registered in the
name of the Customer.

 

		12.	Neither Custodian nor any nominee of Custodian shall vote any of the Securities held hereunder by or for the account of the
Customer, except in accordance with the instructions contained in an Officers’ Certificate. Custodian shall promptly deliver,
or cause to be executed and delivered, to the Customer all notices, proxies and proxy soliciting materials with relation to such
Securities, such proxies to be executed by the registered holder of such Securities (if registered otherwise than in the name of
the Customer), but without indicating the manner in which such proxies are to be voted.

Custodian shall transmit promptly to the Customer all written information (including, without limitation, pendency of calls and
maturities of Securities and expirations of rights in connection therewith) received by Custodian from issuers of the Securities
being held for the Customer. With respect to tender or exchange offers, Custodian shall transmit promptly to the Customer all written
information received by the Custodian from issuers of the Securities whose tender or exchange is sought and from the party (or
his agents) making the tender or exchange offer.

 

		13.	In the event of any dispute arising under this Custody Agreement, the Custodian may in its sole and absolute discretion deposit
the Securities and cash described herein (or so much thereof as remains in its hands) with the appropriate court having jurisdiction
hereof, and interplead the parties hereto, and upon so depositing such property and filing its complaint in interpleader it shall
be relieved of all liabilities under the terms hereof as to the Securities and cash so deposited. The Customer, its legal representatives,
successors and any beneficiaries thereof, do hereby submit themselves to the jurisdiction of said court and do hereby appoint the
then Clerk, or acting Clerk, of said court as their Agent for the service of all process in connection with such proceedings. The
institution of any such interpleader action shall not impair the rights of the Custodian under this Custody Agreement.

 

		14.	Custodian shall not be liable for any action taken in good faith upon any certificate herein described or certified copy of
any resolution of the Board of Directors, and may rely on the genuineness of any such document which it may in good faith believe
to have been validly executed.

 

		15.	The Customer agrees to indemnify against, and hold the Custodian harmless from, all taxes, charges, expenses, assessments,
liabilities, claims and demands (and all expenses relating thereto, including legal fees) made by or owing to the Customer, any
beneficiaries or any other persons or entities with respect to this Custody Agreement or the Custodian's acts or omissions hereunder,
except for those caused by the Custodian's negligent action, negligent failure to act or willful misconduct. Anything herein to
the contrary notwithstanding, the Custodian shall not be liable for any consequential or punitive damages relating to its activities
with regard to the Custody Account. The Customer further agrees that responsibility for any reneges, failure to comply with bond
calls, tender offers and other similar matters shall be the Customer's and that the Customer will in such events take such action
as may be appropriate to avoid putting the Custodian in violation of any laws or regulations or duties to others. The provisions
of this Section shall survive after the date of termination.

 

    - 5 -

     

    

 

		16.	This Custody Agreement may not be assigned by Custodian without the consent of the Customer, authorized or approved by a resolution
of its Board of Directors. This Custody Agreement may be terminated by the Customer, or by Custodian, on sixty (60) days' notice,
given in writing and sent by registered mail to

 

Custodian at

ZB, National Association, dba Amegy Bank

1801 Main Street – 8th Floor

Houston, TX  77002

Attention: Corporate Trust & Escrow

 

to the Customer at

Stellus Capital Investment Corporation

4400 Post Oak Parkway, Suite 2200

Houston, TX 77027

Attention: W. Todd Huskinson, Chief
Financial Officer

 

Upon any termination of this Custody
Agreement, pending appointment of a successor to Custodian or a vote of the shareholders of the Customer to dissolve or to function
without a Custodian of its cash, Securities and other property, Custodian shall not deliver cash, Securities or other property
of the Customer to the Customer, but may deliver them to a bank or trust company in the City of Houston of its own selection, having
an aggregate capital, surplus and undivided profits, as shown by its last published report of not less than five hundred thousand
dollars ($500,000) as a Custodian for the Customer to be held under terms similar to those of this Custody Agreement; provided,
however, that Custodian shall not be required to make any such delivery or payment until full payment shall have been made by the
Customer of all liabilities constituting a charge on or against the properties then held by Custodian or on or against Custodian,
and until full payment shall have been made to Custodian of all its fees, compensation, costs and expenses, subject to the provisions
of Section 15 of this Custody Agreement.

 

		17.	This Custody Agreement shall be governed by and construed in accordance
with the laws of the State of Texas, without regard to the principles of conflict of laws. The Customer and the Custodian hereby
consent to the jurisdiction of the Texas courts in the event of any litigation or dispute hereunder. To the fullest extent
permitted by law, each of the parties hereto intentionally and deliberately gives up the right to a trial by jury to resolve each
dispute, claim, demand, cause of action and controversy between the parties hereto arising out of, or related to, this Agreement.
The parties expressly stipulate that any litigation arising under this Agreement shall be brought in any court of competent jurisdiction
sitting in Harris County, Texas. 

 

    - 6 -

     

    

 

		18.	Specific terms and conditions applicable to this Custody Agreement:

 

Tax Identification Number: ______________________________________

 

Address:

 

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	City	State	Zip	 

 

Name and Title of Person(s) Authorized
to Transact Business on this Custody Account:

 

	 	 	 
	Name	 	 
	 	 	 
	 	 	 
	Title	 	Signature
	 	 	 
	 	 	 
	Name	 	 
	 	 	 
	 	 	 
	Title	 	Signature
	 	 	 
	 	 	 
	Name	 	 
	 	 	 
	 	 	 
	Title	 	Signature

 

U.S. Securities and Exchange Commission, Rule 14-b-1(c), which provides for improved communications between companies which issue Securities and the shareholders who own those Securities, requires us to solicit your instructions to provide information when requested regarding shareholders:  

 

	Yes	o	You are authorized to release my name, address, and securities position(s) to companies whose shares you hold in my account.  
	 	 	 
	No	o	I do not want my name, address and securities positions(s) released.  

 

	Stellus Capital Investment Corporation, as Customer 	 	ZB,  NATIONAL ASSOCIATION, dba Amegy Bank, as Custodian
	 	 	 
	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	Title: 	 	 	Title: 	 
	 	 	 	 	 
	Date:	 	 	Date:	 

 

    - 7 -

     

    

 

SCHEDULE
“A”

 

Fee Schedule
to be attached

 

    - 8 -

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