Document:

Consulting Agreement

EXECUTION VERSION

WILSON A. BELL EMPLOYMENT AGREEMENT

This Employment Agreement (the "Agreement") is made as of October 31, 2011 (the "Effective Date") by and between Consumer Impulse Inc., a Delaware corporation (the "Company") and Wilson A. Bell, an individual who resides at 9085 Worman Drive, King George, VA 22485 (the "Executive").

In consideration of their mutual promises and obligations and intending to be legally bound, the Company and the Executive agree as follows:

1.

Definitions.

Capitalized terms used in this Agreement but not defined herein shall have the same meaning as assigned to them under the employment agreement executed between Alya Ventures Limited, the Company and Mr. Erik Hallstrom dated September 29, 20111 (the "Erik Hallstrom Employment Agreement").

2.

Introduction. 

The Company desires to hire the Executive in the position of Chief Technology Officer of the Company, upon the terms and conditions set forth herein. The Executive desires to accept such employment upon the terms and conditions set forth herein, including, without limitation, the non-disclosure and the non-competition covenants contained in this Agreement.

3.

Employment.

The Company hereby employs the Executive as Chief Technology Officer of the Company, reporting to the board of directors of the Company with duties and responsibilities associated with and related to such position and is otherwise directed by the board of directors of the Company (the "Board of Directors"). The Executive will be based in Virginia, USA

4.

Employment at Will.

The employment of the Executive by the Company shall be "at will," meaning that either the Executive or the Company shall be entitled to terminate the Employment at any time and for any reason, with or without Cause. This Agreement shall constitute the full and complete agreement between the Executive and the Company on the "at-will" nature of the Employment, which may only be changed in an express written agreement signed by the Executive and the Company. Upon the termination of the Employment, the Executive shall only be entitled to the compensation and benefits earned and the reimbursements described in this Agreement for the period preceding the effective date of the termination

5.

Term of Employment.

This Agreement shall commence on the CEO Appointment Date and continue in full force and effect thereafter unless terminated earlier in accordance with the provisions of this Agreement (the "Term"). In the event that the CEO Appointment Date does not occur by the Deadline, then this Agreement shall immediately terminate.

6.

Compensation and Benefits.

(a)

Base Salary. During the Term, the Company shall pay to the Executive a base salary in an amount that annualizes to $130,000 (the "Base Salary"), which will be payable, in equal periodic installments according to the Company's customary payroll practices, but no less frequently than monthly. The Base Salary will be reviewed by the Board of Directors annually, and any change in Base Salary shall be made by, and at the sole discretion and approval of, the Board of Directors. Executive will also be entitled to a targeted bonus package of upto 25% of the base salary at the boards discretion.

(b)

Benefits. During the term, at the Company's expense, the Executive shall be entitled to participate in any and all employee benefit plans, medical insurance plans, disability income plans, incentive compensation plans, and other benefit plans, as may be from time to time in effect for executives of the Company generally.

7.

Business Expenses. The Company shall pay or reimburse the Executive for all reasonable business expenses incurred or paid by the Executive in the performance of his duties; provided, that the Executive furnishes to the Company documentation of such expenses as is required by the Internal Revenue Service, as well as such other documentation as the Company may reasonably request, and in accordance with the Company's policies.

8.

Protection of Confidential Information and Intellectual Property. The Executive acknowledges that the Company is engaged in a continuous program of research, development and production in connection with its business, present and future, and hereby agrees to be subject to the terms and conditions of the Company's form of Proprietary Information and Nondisclosure Agreement, a copy of which is attached hereto as Exhibit A.

9.

Noncompetition.

(a)

During the course of Executive's employment by the Company and for a period of one year after the date of termination (collectively, the "Noncompetition Period"), for any reason or no reason, directly or indirectly, whether with or without good cause, the Executive shall not, whether as owner, partner, shareholder, director, consultant, agent, employee, guarantor, surety or otherwise, or through any person, consult with or in any way aid or assist any competitor of the Company or any subsidiary or affiliate thereof now or hereafter existing (referred to collectively as the "Affiliates") or engage or attempt to engage in any employment, consulting or other activity, which activity competes, directly or indirectly, with the business of the Company or any Affiliate anywhere in the world. For purposes of this Agreement, the term "employment" shall include the employment of the Executive as an employee, consultant, agent, independent contractor or otherwise. The Executive acknowledges that the Executive's participation in the conduct of any such business alone or with any person other than the Company will materially impair the business and prospects of the Company.

(b)

In addition to and without limiting the foregoing, during the term of the Noncompetition Period, the Executive shall not attempt to or assist any other person in attempting to do, or do any of the following: (i) encourage any customer, client, supplier or other business relationship of the Company or any Affiliate to terminate or alter such relationship, whether contractual or otherwise, to the disadvantage of the Company or any Affiliate, as the case may be (ii) encourage any prospective customer or supplier not to enter into a business relationship with the Company or any Affiliate; (iii) impair or attempt to impair any relationship, contractual or otherwise, written or oral, between the Company or any Affiliate and any customer, supplier or other business relationship of the Company or any Affiliate or; (iv) sell or offer to sell or assist in or in connection with the sale to any customer or prospective customer of the Company or any Affiliate any products of the type sold or rendered by the Company or any Affiliate.

(c)

In addition to and without limiting the foregoing, during the term of the Noncompetition Period, the Executive will not either directly or indirectly solicit, pursue or call upon or take away, either for himself or for the benefit of any other person or entity, any of the customers of the Company or any Affiliate upon whom the Executive called or with whom the Executive became acquainted during the Executive's employment or affiliation with the Company.

(d)

Nothing in this Agreement shall preclude the Executive from making passive investments of not more than 1% of a class of securities of any business enterprise registered under the United States Securities Exchange Act of 1934.

10.

Return of Property.  On the termination of the Executive's employment for whatever reason, the Executive will be required to return without delay to the Company all its property of every nature and description including but not limited to personal computers, software, manuals, identity cards and all other items belonging to or issued by or on behalf of the Company in the course of or in connection with the Executive's work.

11.

Non-Hire. The Executive shall not from the date of this Agreement through the end of the Noncompetition Period directly or indirectly solicit, hire or cause to be hired, or attempt to, or assist any other person in soliciting, hiring or causing to be hired for employment any person employed by the Company during the six month period prior to the Executive leaving the Company.

12.

Representations and Warranties by the Executive. The Executive represents and warrants to the Company that employment with the Company and performance of the Executive's duties and obligations under this Agreement will not violate any agreement to which the Executive is or may be bound.

13.

Miscellaneous.

(a)

Entire Agreement. This Agreement constitutes the entire agreement and undertaking of the parties hereto with respect to the subject matter hereof and supercedes all prior agreements and undertakings, both written and oral.

(b)

Severability. In the event that any court having jurisdiction or TSX-V having proper authority shall determine that any covenant or other provision contained in this Agreement shall be unreasonable or unenforceable in any respect, then such covenant or other provision shall be deemed limited to the extent that such court or TSX-V deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that such court or TSX-V shall deem any covenant or provision wholly unenforceable, the remaining covenants and provisions of this Agreement shall nevertheless remain in full force and effect.

(c)

Assignment. This Agreement is personal to Executive and, without the prior written consent of the Company, shall not be assignable by Executive. The Company shall have the right to assign this Agreement to its successors and assigns, and all covenants and agreements hereunder shall inure to the benefit of and be enforceable by said successors or assigns.

(d)

Notice. Any notice or other communication in connection with this Agreement shall be deemed to be delivered if in writing and if (a) delivered to the address(es) below, or (b) one business day after deposit with a nationally recognized over-night delivery service (receipt and next day delivery requested), in each case the appropriate address is set forth below (or to such other addresses as the party may designate by notice to the other parties);

If to the Company:

Consumer Impulse, Inc.

5241 42nd ST NW,

Washington DC 20015

Attn: Mr. Atul Sabharwal.

With a copy to

Rahoul Roy PLLC

301 West 118th Street

# PH1D

New York, NY 10026

Phone: (646)5465841

Attn: Rahoul Roy, Esq.

If to the Executive, to:

Wilson A. Bell

9085 Worman Drive

King George

VA 22485

Notice of changes in address shall comply with these notice provisions.

(e)

Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the state of Delaware, without giving effect to the conflicts of law principles thereof. Each of the parties further agrees that process may be served upon it by overnight courier or by certified mail, return receipt requested, and consents to the exercise of jurisdiction over it and its properties with respect to any action, suit, or proceeding arising out of or in connection with this Agreement in Delaware.

(f)

Compliance. The failure of any party hereto to insist upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such terms, covenants or conditions, nor shall any waiver or relinquishment of any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such power or right at any other time or times.

(g)

Headings. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

(h)

Counterparts. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.

(i)

Absence of Duress. Executive acknowledges that the Executive has been afforded sufficient time to understand the terms and effects of this Agreement, and that the agreements and obligations herein are made voluntarily, knowingly and without duress, and that neither the Company nor its agents or representatives have made any representations inconsistent with the provisions of this Agreement.

(j)

Amendments. This Agreement may not be amended except by a writing signed by the party against whom enforcement is sought.

-Signature Page Continues-

IN WITNESS WHEREOF, the Executive and the Company's duly authorized representatives have caused this Agreement to be executed under seal as of the day and year first above written.

Consumer Impulse, Inc.

EXECUTIVE:

WILSON A. BELL

PROPRIETARY INFORMATION & NONDISCLOSURE AGREEMENT

AGREEMENT entered into between Consumer Impulse Inc., a Delaware corporation (the "Company") and Wilson A. Bell an individual who resides at 9085 Worman Drive, King George, VA 22485 (herein referred to as "me", "I" or the "Employee").

WHEREAS, the Employee on this day has been employed as an employee, officer or director of the Company, pursuant to an employment agreement executed between the Employee and the Company; and

WHEREAS, in such capacity the Employee will have access to confidential and proprietary information about the Company, its products and its clients, all of which are of great value to the Company and which are not generally known but are confidential; and

WHEREAS, it is a condition to the Employee's employment by the Company that the Employee enter into this Agreement;

NOW, THEREFORE, in consideration of the Company's employment of the Employee, and as a condition thereof, it is hereby agreed by and between the parties as follows:

1.

Definitions. For the purposes of this Agreement the terms set forth below shall have the following meanings:

1.1

Confidential Information. That private, secret, or confidential information of the Company, whether or not in writing, of whatever kind or nature disclosed to me or known by me, (whether or not invented, discovered or developed by me) as a consequence of or through my employment with the Company, regardless of the form or media on which such information is disclosed or stored, some or all of which property may be protected by statute, common law, or contract, and including all information of any third party whose confidential information the Company is under a legal obligation to protect. Such Confidential Information shall include information relating to the design, manufacture, application, know-how, research and development relating to the Company's products and services, sources of supply and material, operating and other cost data, lists of present, past or prospective customers, customer proposals, price lists and data relating to pricing of the Company's products or services, any of which information is not generally known in the industry, and shall specifically include all information contained in manuals, memoranda, formulae, plans, drawings and designs, specifications, supply sources, and records of the Company including without limitation that which is marked or otherwise identified by the Company (or third party whose confidential information the Company is under a legal obligation to protect) as Confidential Information. Confidential Information shall not include any information that (i) is generally known to the public, (ii) is independently developed by me without access or reference to other Confidential Information, (iii) was lawfully obtained from a third party without any obligation of confidentiality, (iv) was known to me prior to employment with Company, as can be shown by contemporaneous documentation, or (v) was later published or generally disclosed by the Company.

1.2

Concepts and Ideas. Those concepts and ideas known to me relating to the Company's present and prospective activities and products.

1.3

Inventions. Those discoveries, improvements, and developments, whether or not patentable, relating to the Company's present and prospective activities and products, which such activities and products (with the exception of my prior inventions, as defined below) are known to me by virtue of my employment with the Company, as well as any improvements, discoveries, methods, developments, software, and works of authorship, whether patentable or not, which are created, made, conceived or reduced to practice by me or under my direction or jointly with others during my employment by the Company, whether or not during normal working hours or on the premises of the Company. The term invention as used herein shall include trade secrets and other Confidential Information and shall not be limited to the meaning of "invention" under the United States patent laws or equivalent laws of any country.

1.4

Make. When used in relation to Inventions, make shall include any one or any combination of (i) conception, (ii) actual or constructive reduction to practice, or (iii) development of an Invention and is without regard to whether I am a sole or joint inventor.

1.5

Patents. Any document representing a government granted right to exclude others from making, using, selling, or importing an invention, including any provisional, non-provisional, short-term, design, plant, industrial design, petty, or utility patent applications, or letters patents issued thereupon, including any divisions, continuations, continuations in part, extensions, or reissues thereof, according to the U.S. patent laws or equivalent laws of any country, and any international conventions and treaties in respect of inventions in foreign countries.

2.

Ownership of Inventions. All Inventions, or any modifications thereof, which are at any time conceived or reduced to practice by me, acting alone or in conjunction with others, during and in connection with my employment by the Company, and all Concepts and Ideas held by me on the date of this Agreement shall be the property of the Company, free of any restrictions of any kind on my part in respect thereof. All inventions or modifications made by me within one year after the termination of such employment which are based on or substantially related to any Confidential Information shall be the property of the Company, free of any restrictions of any kind on my part in respect thereof. During the one year immediately following the end of my employment with the Company, I will promptly and completely disclose in writing to the Company all Inventions which relate either to my work assignment at the Company or the Company's Confidential Information for the purpose of determining the Company's rights in each such Invention,

3.

Assignment of Inventions and Copyrights.

3.1

Records. I will keep complete and current written records of all Inventions I make during the period of time I am employed by the Company and will promptly make full disclosure of any such Inventions and Concepts and Ideas to the Company.

3.2

Assignments. I agree to assign and do hereby assign to the Company all my right, title and interest in and to all Inventions, Concepts and Ideas and all related Patents, copyrights, copyright applications, and mask works. I hereby waive all claims or benefits of any moral rights in any creative work done for the Company.

3.3

Further Assurances. I will, at the Company's cost and expense, promptly execute formal applications for Patents and any related declarations and assignment documents, and also do all other acts and things (including, among others, the execution and delivery of instruments of further assurance or confirmation, making myself available for interviewers, depositions and testimony relating to such Inventions) deemed by the Company to be necessary or desirable at any time or times, in order to effect the full assignment to the Company of my entire worldwide rights and title to such Inventions and Concepts and Ideas, without, during the term of this Agreement, further compensation beyond my agreed compensation. I further understand that the absence of a request by the Company for information, or for the making of an oath, or for the execution of any document, shall in no way be construed to constitute a waiver of the Company's rights under this Agreement.

3.4

Power of Attorney. I further agree that if the Company is unable, after

reasonable effort, to secure my signature on any such papers, any executive officer of the Company shall be entitled to execute any such papers as my agent and my attorney-in-fact, and I hereby irrevocably designate and appoint each executive officer of the Company as my agent and attorney-in-fact to execute any such papers on my behalf, and to take any and all actions as the Company may deem necessary or desirable in order to protect its rights and interests in any Inventions, Concepts and Ideas, under the foregoing conditions.

4.

Excluded Prior Inventions. I have no obligation to assign to the Company commercial rights, including patent rights, if any, which I hold on the date of this Agreement, to inventions made before such date. On Schedule A below, I have identified (without disclosing trade secrets or other confidential information) every such invention which I have made, singly or jointly, before my employment by the Company and in which I have a personal ownership interest and which is not the subject matter of an issued patent or a printed publication at the time I sign this Agreement.

5.

Excluded Unrelated Works. My obligations to assign ownership of inventions shall not apply to developments which do not relate to the present or planned business or research and development of the Company and which are made and conceived by me outside normal working hours, not on the Company's premises and not using the Company's personnel, contractors, tools, devices, equipment, reference materials, or Confidential Information. To the extent this Agreement shall be construed in accordance with the laws of any jurisdiction which precludes a requirement in an employee agreement to assign certain classes of inventions made by an employee, the obligations herein shall be interpreted not to apply to any invention which a court rules and/or the Company agrees falls within such classes.

6.

Confidentiality Obligations.

6.1

Nondisclosure. I will never, directly or indirectly, use the Company's

Confidential Information except as authorized by the Company and only in the furtherance of the Company business; nor will I disclose, publish, or disseminate the Company's Confidential Information to anyone who is not an officer, director, employee, attorney or authorized agent of the Company without the prior written consent of the Company; nor will I file any Patent application relating to any Invention I make during the period of time I am employed by the Company without the prior written approval of the Company's legal counsel. I will execute any reasonable agreements further relating to the protection of the Company's Confidential Information or the Confidential Information of any third party whose Confidential Information the Company is under a legal obligation to protect.

6.2

Return of Copies. I acknowledge that all Confidential Information is and shall remain the property of the Company, or any third party whose confidential information the Company is under a legal obligation to protect, as relevant. All documents, records, and tangible things that embody or contain the Company's Confidential Information are the Company's exclusive property. I have access to them solely for performing the duties of my employment by the Company. I will protect the confidentiality of their content and I will return all of them and all copies, facsimiles and specimens of them and any other tangible forms of the Company's Confidential Information in my possession, custody or control to the Company as may be requested by the Company at any time.

7.

Other Rules. The Company has a right to make and enforce any other reasonable rules and regulations not contrary to this Agreement that will also govern my employment. I acknowledge that this agreement does not constitute a contract of employment and does not imply that the Company will continue my employment for any period of time. I agree that any change or changes in my duties, salary or compensation after the signing of this Agreement shall not affect the validity or scope of this Agreement.

8.

Survival of Obligations. My duties under this Agreement shall survive termination of my employment with the Company. I acknowledge that a remedy at law for any breach or threatened breach by me of the provisions of this Agreement may be inadequate and I therefore agree that the Company, in addition to such other remedies which may be available, shall be entitled to obtain specific performance and other injunctive relief in case of any such breach or threatened breach.

9.

Past Obligations. I hereby represent that, except as herein or earlier disclosed in writing to the Company, I am not bound by the terms of any previous agreement with another party to refrain from using or disclosing any trade secret or confidential or proprietary information in the course of my employment with the Company or to refrain from competing, directly or indirectly, with the business of such other party. I further represents that my performance of all the terms of this Agreement and as an employee of the Company does not and will not breach any agreement to keep in confidence proprietary information, knowledge or data I acquired in confidence or in trust prior to my employment with the Company, and I will not disclose to the Company or induce the Company to use any confidential or proprietary information or in material belonging to any previous employer or others.

10.

Notice to Future Employers. For the period of 24 months immediately following the end of my employment by the Company, I will inform each new employer, prior to accepting employment, of the existence of this Agreement and provide that new employer with a copy of it.

11.

Miscellaneous.

11.1 

Entire Agreement. This Agreement constitutes the entire agreement and undertaking of the parties hereto with respect to the subject matter hereof and supercedes all prior agreements and undertakings, both written and oral.

11.2 

Severability.   In the event that any court having jurisdiction shall determine that any covenant or other provision contained in this Agreement shall be unreasonable or unenforceable in any respect, then such covenant or other provision shall be deemed limited to the extent that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that such court shall deem any covenant or provision wholly unenforceable, the remaining covenants and provisions of this Agreement shall nevertheless remain in full force and effect.

11.3 

Assignment. This Agreement will be binding upon my heirs, executors and administrators and will inure to the benefit of the Company and its successors and assigns. The Company may assign this Agreement to any other corporation or entity that acquires (whether by purchase, merger, consolidation or otherwise) all or substantially all of the business and/or assets of the Company. I consent to be bound by the provisions of this Agreement for the benefit of the Company or any subsidiary or affiliate thereof to whose employ I may be transferred without the necessity that this Agreement be re-signed.

11.4 

Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of Delaware, without giving effect to the conflicts of law principles thereof. Each of the parties further agrees that process may be served upon it by overnight courier or by certified mail, return receipt requested, and consents to the exercise of jurisdiction over it and its properties with respect to any action, suit, or proceeding arising out of or in connection with this Agreement.

11.5 

Compliance. The failure of any party hereto to insist upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such terms, covenants or conditions, nor shall any waiver or relinquishment of any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such power or right at any other time or times.

11.6 

Headings. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

11.7 

Counterparts. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.

11.8 

Absence of Duress. I acknowledges that I have been afforded sufficient time to understand the terms and effects of this Agreement, and that the agreements and obligations herein are made voluntarily, knowingly and without duress, and that neither the Company nor its agents or representatives have made any representations inconsistent with the provisions of this Agreement.

11.9 

Amendments. This Agreement may not be amended, supplemented, cancelled or discharged except by written instrument executed by both parties hereto.

IN WITNESS WHEREOF, the Employee and the Company's duly authorized representative have caused this Agreement to be executed under seal as of the 31st day of October, 2011.

SCHEDULE A

INVENTIONS I MADE BEFORE THE TERM OF MY EMPLOYMENT BY THE COMPANY IN WHICH I HAVE AN OWNERSHIP INTEREST WHICH ARE NOT THE SUBJECT MATTER OF ISSUED PATENTS OR PRINTED PUBLICATIONS:

(If there are none, please enter the word "NONE"; Attach additional pages as necessary)THIRTEENTH AMENDMENT TO

LOAN AND SERVICING AGREEMENT

(Golub Capital BDC Funding LLC)

 

THIS THIRTEENTH AMENDMENT
TO LOAN AND SERVICING AGREEMENT, dated as of October 17, 2014 (this “Amendment”), is entered into by and among
GOLUB CAPITAL BDC Funding LLC, as the Borrower (the “Borrower”),
GOLUB CAPITAL BDC, INC., as the Transferor and the Servicer, the Institutional Lender identified on the signature pages hereto,
WELLS FARGO BANK, N.A., as the Collateral Agent, the Account Bank and the Collateral Custodian, and WELLS FARGO SECURITIES, LLC,
as the Administrative Agent (in such capacity, the “Administrative Agent”).

 

R E C I T A L S

 

WHEREAS, the above-named
parties have entered into that certain Loan and Servicing Agreement, dated as of July 21, 2011 (as amended, supplemented or otherwise
modified from time to time, the “Agreement”), by and among the Borrower, the Transferor, the Servicer, each
of the Conduit Lenders and Institutional Lenders from time to time party thereto, each of the Lender Agents from time to time party
thereto, and the Collateral Agent, the Account Bank and the Collateral Custodian;

 

WHEREAS, pursuant to
and in accordance with Section 11.01 of the Agreement, the parties hereto desire to amend the Agreement in certain respects as
provided herein;

 

NOW, THEREFORE, based
upon the above Recitals, the mutual premises and agreements contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the undersigned, intending to be legally bound, hereby agree as follows:

 

SECTION
1.Definitions.

 

Each capitalized term
used but not defined herein has the meaning ascribed thereto in the Agreement.

 

SECTION
2.Amendment.

 

2.1The definition of “Agented
Loan” in Section 1.01 of the Agreement shall be amended and restated in its entirety as follows:

 

““Agented Loan”
means any Loan Asset originated as a part of a syndicated loan transaction that has been closed (without regard to any contemporaneous
or subsequent syndication of such Loan Asset) prior to such Loan Asset becoming part of the Collateral Portfolio.”

 

2.2The definition of “Loan Asset
Checklist” in Section 1.01 of the Agreement shall be amended and restated in its entirety as follows:

 

    	 

    	 

    

 

““Loan Asset Checklist”
means an electronic or hard copy, as applicable, of a checklist in the form of Exhibit S delivered by or on behalf of the
Borrower to the Collateral Custodian, that identifies each of the items which constitute Required Loan Documents to be included
within the respective Loan Asset File, which shall specify whether such document is an original or a copy and includes the identification
number and the name of the Obligor with respect to the related Loan Asset.”

 

2.3The definition of “Reinvestment
Period” in Section 1.01 of the Agreement shall be amended and restated in its entirety as follows:

 

““Reinvestment Period”
shall mean the period commencing on the Closing Date and ending on the day preceding the earliest of (i) November 22, 2015 (or
such later date as is agreed to in writing by the Borrower, the Servicer, the Administrative Agent and the Lenders pursuant to
Section 2.19(b)), (ii) the occurrence of an Event of Default and (iii) the date of any voluntary termination by the Borrower
pursuant to Section 2.18(b).”

 

2.4The definition of “Required
Loan Documents” in Section 1.01 of the Agreement shall be amended and restated in its entirety as follows:

 

““Required Loan Documents”
means, for each Loan Asset, the following documents or instruments, all as specified on the related Loan Asset Checklist:

 

(a)(i) the original executed promissory
note or, if accompanied by an original “lost note” affidavit and indemnity, a copy of the executed underlying promissory
note, endorsed by the Borrower in blank (and an unbroken chain of endorsements from each prior holder thereof to the Borrower)
and (ii) if such promissory note is not issued in the name of the Borrower or in a Noteless Loan Asset, a copy of each assignment
and assumption agreement, transfer document or instrument relating to such Loan Asset evidencing the assignment of such Loan Asset
from the prior third party owner thereof (if any) to the Borrower and from the Borrower either to the Collateral Agent or in blank;

 

(b)to the extent applicable to
the related Loan Asset, copies of the executed (i) guaranty, (ii) underlying credit or loan agreement (or similar agreement pursuant
to which the related Loan has been issued or created), (iii) acquisition agreement (or similar agreement) and (iv) security agreement,
mortgage or other agreement that secures the obligations represented by such Loan, in each case as set forth on the Loan Asset
Checklist; and

 

(c)with respect to any Loan Asset
originated by the Transferor and with respect to which the Transferor acts as administrative agent (or in a comparable capacity),
either (i) copies of the UCC-1 Financing Statements, if any, and any related continuation statements, each showing the Obligor
as debtor and the Collateral Agent as total assignee or showing the Obligor, as debtor and the Transferor (or the applicable Affiliate)
as secured party and each with evidence of filing thereon, or (ii) copies of any such financing statements certified by the Servicer
to be true and complete copies thereof in instances where the original financing statements have been sent to the appropriate public
filing office for filing, in each case as set forth in the Loan Asset Checklist.”

 

    	2

    	 

    

 

2.5The definition of “Stated Maturity
Date” in Section 1.01 of the Agreement shall be amended and restated in its entirety as follows:

 

““Stated Maturity Date”
means October 17, 2019 or such later date as is agreed to in writing by the Borrower, the Servicer, the Administrative
Agent and the Lenders pursuant to Section 2.19(a).”

 

2.6Section 5.01(dd) of the Agreement
is hereby amended and restated in its entirety as follows:

 

“(dd)[Reserved].”

 

2.7 Section 6.09 of the Agreement is
hereby amended and restated in its entirety as follows:

 

“Section 6.09Annual
Statement as to Compliance. The Servicer will provide to the Administrative Agent, each Lender Agent and the Collateral Agent
within 90 days following the end of each fiscal year of the Servicer, commencing with the fiscal year ending on September 30, 2012,
a fiscal report signed by a Responsible Officer of the Servicer certifying that (a) a review of the activities of the Servicer,
and the Servicer’s performance pursuant to this Agreement, for the fiscal period ending on the last day of such fiscal year
has been made under such Person’s supervision and (b) the Servicer has performed or has caused to be performed in all material
respects all of its obligations under this Agreement throughout such year and no Servicer Termination Event has occurred. The Borrower
will provide to the Administrative Agent, each Lender Agent and the Collateral Agent within 90 days following the end of each calendar
year, commencing with the fiscal year ending on December 31, 2014 (i) a certification, based upon a review and summary of UCC search
results, that there is no other interest in the Collateral Portfolio perfected by filing of a UCC financing statement other than
in favor of the Collateral Agent and (ii) a certification, based upon a review and summary of tax and judgment lien searches satisfactory
to the Administrative Agent, that there is no other interest in the Collateral Portfolio based on any tax or judgment lien.”

 

2.8Clause (b) of Section 10.02 of the
Agreement is hereby amended to add a new clause (ii) thereto as follows and to renumber existing clauses (ii), (iii), (iv), (v),
(vi), (vii) and (viii) as (iii), (iv), (v) (vi), (vii), (viii) and (ix):

 

“(ii)The Collateral
Agent shall promptly upon its actual receipt of a (i) Borrowing Base Certificate from the Borrower, re-calculate the Borrowing
Base and, if the Collateral Agent’s calculation does not correspond with the calculation provided by the Borrower on such
Borrowing Base Certificate, deliver such calculation to each of the Administrative Agent, Borrower and Servicer within one (1)
Business Day of receipt by the Collateral Agent of such Borrowing Base Certificate.”

 

    	3

    	 

    

 

2.9Clause (b)(i) of Section 12.02 of
the Agreement is hereby amended in its entirety to read as follows:

 

“(i)The Collateral
Custodian shall take and retain custody of the Required Loan Documents delivered by the Borrower pursuant to Section 3.02(a)
and Section 3.04(b) hereof in accordance with the terms and conditions of this Agreement, all for the benefit of the Secured
Parties. Within five Business Days of its receipt of any Required Loan Documents, the related Loan Tape and a hard copy of the
Loan Asset Checklist, the Collateral Custodian shall review the Required Loan Documents to confirm that (A) such Required Loan
Documents have been executed by each party thereto (either an original or a copy, as indicated on the Loan Asset Checklist) and
have no missing or mutilated pages, (B) filed stamped copies of the UCC and other filings (required by the Required Loan Documents)
are included, (C) each item listed in the Loan Asset Checklist is included and verify it has been provided to the Collateral Custodian
without any missing pages or sections, and (D) the related original balance (based on a comparison to the note or assignment agreement,
as applicable), Loan Asset number and Obligor name, as applicable, with respect to such Loan Asset is referenced on the related
Loan Tape (such items (A) through (D) collectively, the “Review Criteria”). In order to facilitate the foregoing
review by the Collateral Custodian, in connection with each delivery of Required Loan Documents hereunder to the Collateral Custodian,
the Servicer shall provide to the Collateral Custodian a hard copy (which may be preceded by an electronic copy, as applicable)
of the related Loan Asset Checklist which contains the Loan Asset information with respect to the Required Loan Documents being
delivered, identification number and the name of the Obligor with respect to such Loan Asset. Notwithstanding anything herein to
the contrary, the Collateral Custodian’s obligation to review the Required Loan Documents shall be limited to reviewing such
Required Loan Documents based on the information provided on the Loan Asset Checklist. If, at the conclusion of such review, the
Collateral Custodian shall determine that (i) the original balance of the Loan Asset with respect to which it has received Required
Loan Documents is less than as set forth on the Loan Tape or the Obligor name does not match, the Collateral Custodian shall notify
the Administrative Agent and the Servicer of such discrepancy within one Business Day, or (ii) any Review Criteria is not satisfied,
the Collateral Custodian shall within one Business Day notify the Servicer of such determination and provide the Servicer with
a list of the non-complying Loan Assets and the applicable Review Criteria that they fail to satisfy. The Servicer shall have five
Business Days after notice or knowledge thereof to correct any non-compliance with any Review Criteria. To the extent such non-compliance
has not been cured within such time period, such Loan Asset shall be deemed to be a Warranty Loan Asset and shall no longer be
included in the calculation of any Borrowing Base hereunder until such deficiency is cured. In addition, if requested in writing
(in the form of Exhibit N) by the Servicer and approved by the Administrative Agent within 10 Business Days of the Collateral
Custodian’s delivery of such report, the Collateral Custodian shall return any Loan Asset which fails to satisfy a Review
Criteria to the Borrower. Other than the foregoing, the Collateral Custodian shall not have any responsibility for reviewing any
Required Loan Documents. Notwithstanding anything to the contrary contained herein, the Collateral Custodian shall have no duty
or obligation with respect to any Loan Asset checklist delivered to it in electronic form.”

 

    	4

    	 

    

 

2.10 Clause 2 in Schedule III of the
Agreement is hereby amended and restated in its entirety as follows:

 

“2.The Obligor with
respect to each such Loan Asset is organized under the laws of the United States or any state thereof or Canada (provided that
immediately after giving effect to the acquisition of such Loan Asset by the Borrower, the aggregate Adjusted Borrowing Value (after
giving effect to any deduction pursuant to clause (12) but prior to giving effect to any deduction pursuant to this clause (2)
and clause (39)) of all Eligible Loan Assets the Obligors of which are domiciled in Canada shall not exceed the greater of (i)
15% of the sum of (x) the aggregate Adjusted Borrowing Value (prior to giving effect to any deduction pursuant to this clause (2),
clause (12) and clause (39)) of all Eligible Loan Assets plus (y) any amounts on deposit in the Principal Collection Account or
(ii) $10,000,000 (and to the extent such threshold is exceeded, such excess shall not be included in the Adjusted Borrowing Value
of the applicable Eligible Loan Assets for purposes of the calculation of Borrowing Base))”

 

2.11 Clause 12 in Schedule III of the
Agreement is hereby amended and restated in its entirety as follows:

 

“12.Immediately after
giving effect to the acquisition of such Loan Asset by the Borrower, the aggregate Adjusted Borrowing Value (prior to giving effect
to any deduction pursuant to clause (2), this clause (12) and clause (39)) of all Eligible Loan Assets that are first lien last-out
loans shall not exceed the greater of (i) 15% of the sum of (x) aggregate Adjusted Borrowing Value (prior to giving effect to any
deduction pursuant to clause (2), this clause (12) and clause (39)) of all Eligible Loan Assets plus (y) any amounts on deposit
in the Principal Collection Account or (ii) $10,000,000 (and to the extent such threshold is exceeded, such excess shall not be
included in the Adjusted Borrowing Value of the applicable Eligible Loan Assets for purposes of the calculation of Borrowing Base).”

 

2.12 Clause 39 in Schedule III of the
Agreement is hereby amended and restated in its entirety as follows:

 

“39.Immediately after
giving effect to the acquisition by the Borrower of such Loan Asset, the Adjusted Borrowing Value (after giving effect to any deduction
pursuant to clause (12) and clause (2) but prior to giving effect to any deduction pursuant to this clause (39)) of all Eligible
Loan Assets that are fixed rate Loan Assets shall not exceed the greater of (i) 10% of the sum of (x) the aggregate Adjusted Borrowing
Value (after giving effect to any deduction pursuant to clause (12) and clause (2) but prior to giving effect to any deduction
pursuant to this clause (39)) of all Eligible Loan Assets plus (y) any amounts on deposit in the Principal Collection Account or
(ii) $7,500,000 (and to the extent such threshold is exceeded, such excess shall not be included in the Adjusted Borrowing Value
of the applicable Eligible Loan Assets for purposes of the calculation of Borrowing Base).”

 

    	5

    	 

    

 

2.13 Clause 41 in Schedule III of the
Agreement is hereby deleted in its entirety.

 

2.14 A new Exhibit S is added to the
Agreement in the form of Exhibit S hereto.

 

SECTION
3.Agreement in Full Force and Effect as Amended.

 

Except as specifically
amended hereby, all provisions of the Agreement shall remain in full force and effect. This Amendment shall not be deemed to expressly
or impliedly waive, amend or supplement any provision of the Agreement other than as expressly set forth herein and shall not constitute
a novation of the Agreement.

 

SECTION
4.Representations and Warranties.

 

The Borrower hereby
represents and warrants as of the date of this Amendment as follows:

 

(a)this Amendment
has been duly executed and delivered by it;

 

(b)this Amendment
constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’
rights generally or by general principles of equity; and

 

(c)there is no
Event of Default, Unmatured Event of Default, or Servicer Termination Event that is continuing or would result from entering into
this Amendment.

 

SECTION
5.Conditions to Effectiveness.

 

The effectiveness of
this Amendment is subject to receipt by the Administrative Agent of executed counterparts (or other evidence of execution, including
facsimile signatures, satisfactory to the Administrative Agent) of this Amendment.

 

SECTION
6.Miscellaneous.

 

(a)This Amendment
may be executed in any number of counterparts (including by facsimile), and by the different parties hereto on the same or separate
counterparts, each of which shall be deemed to be an original instrument but all of which together shall constitute one and the
same agreement.

 

(b)The descriptive
headings of the various sections of this Amendment are inserted for convenience of reference only and shall not be deemed to affect
the meaning or construction of any of the provisions hereof.

 

(c)This Amendment
may not be amended or otherwise modified except as provided in the Agreement.

 

    	6

    	 

    

 

(d)The failure
or unenforceability of any provision hereof shall not affect the other provisions of this Amendment.

 

(e)Whenever the
context and construction so require, all words used in the singular number herein shall be deemed to have been used in the plural,
and vice versa, and the masculine gender shall include the feminine and neuter and the neuter shall include the masculine and feminine.

 

(f)This Amendment
represents the final agreement between the parties only with respect to the subject matter expressly covered hereby and may not
be contradicted by evidence of prior, contemporaneous or subsequent oral agreements between the parties. There are no unwritten
oral agreements between the parties.

 

(g)THIS AMENDMENT
AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK.

 

(h)This Amendment
to the Agreement will result in a “material modification” that affects this transaction’s status as a “grandfathered
obligation” (each as defined in FATCA) for FATCA purposes. The Collateral Agent, the Account Bank and the Collateral Custodian
shall be entitled to rely, and shall be fully protected in relying upon, the foregoing statement and shall have no obligation to
determine and shall assume that this transaction’s status as a “grandfathered obligation” under FATCA has not
changed, unless and until the Collateral Agent, the Account Bank and the Collateral Custodian receives written notice from the
Borrower.

 

[Remainder of Page Intentionally Left
Blank]

 

    	7

    	 

    

 

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

 

 

	BORROWER:	GOLUB CAPITAL BDC FUNDING LLC
	 	
         

        By: Golub Capital BDC, Inc.,

        its designated manager

         

         

        By: /s/ Ross A. Teune

        Name: Ross A. Teune

        Title:
Chief Financial Officer 

	 	 
	THE TRANSFEROR AND SERVICER:	
        GOLUB CAPITAL BDC, INC. 

	 	
         

         

        By: /s/ Ross A. Teune

        Name: Ross A. Teune

        Title:
Chief Financial Officer 

	 	 
	THE COLLATERAL AGENT, ACCOUNT BANK AND COLLATERAL CUSTODIAN:	
        WELLS FARGO BANK, N.A. 

	 	 
	 	
         

        By: /s/ Carol Tracey

        Name: Carol Tracey

        Title:
Vice President 

 

 

[Signatures Continue on the Following
Page]

 

    	S-1

    	 

    

 

	ADMINISTRATIVE AGENT:	WELLS FARGO SECURITIES, LLC
	 	
         

         

        By: /s/ Matt Jensen

        Name: Matt Jensen

        Title: Vice President

	THE INSTITUTIONAL LENDER:	WELLS FARGO BANK, N.A.
	 	 
		
         

        By: /s/ Mike Romanzo

        Name: Mike Romanzo

        Title: Director

 

    	S-2

    	 

    

 

Exhibit S

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}]]