Document:

Exhibit 10.3b

 

[●], 2020

 

State Street Bank and Trust Company

100 Summer Street, Floor 5

Boston, MA 02110

	Attention:	Fred Willshire
	 	State Street Alternative Investment Solutions

 

Re:       Master Custodian Agreement
 – New Fund

 

Ladies and Gentlemen:

 

Reference is made to that certain Master
Custodian Agreement by and between State Street Bank and Trust Company (the “Custodian”) and, initially, Morgan
Stanley Direct Lending Fund, dated as of November 25, 2019, as may be amended, restated, modified or supplemented from time to
time, (the “Custody Agreement”). Capitalized terms used herein without definition shall have the meanings given
to them in the Custody Agreement.

 

Pursuant to the Section 20.4 of the Custody
Agreement, undersigned, SL Investment Corp. (the “New Fund”) hereby requests (1) that the Custodian act as custodian
for the New Fund pursuant to the Custody Agreement and (2) to become an additional “Fund” thereunder. In connection
with such request, the undersigned New Fund: (a) confirms, as of the date hereof, its representations and warranties set forth
in Section 20.5 of the Agreement, and (b) represents and warrants that it is a management investment company that has elected or
will elect to be regulated as a business development company under the Investment Company Act of 1940, as amended.

 

[Remainder of Page Intentionally
Left Blank]

 

    1

     

    

 

Please indicate your acceptance of the foregoing by executing
this Letter and returning a copy to the New BDC.

 

	 	SL
    Investment Corp.
	 	 
	 	By:	           
	 	Name:
    Orit Mizrachi
	 	Title:
      Chief Operating Officer

 

Agreed to as of [●], 2020

 

	State
    Street Bank and Trust Company	 
	 	 
	By:	        	 
	Name:	 
	Title:	 

 

    2Exhibit 10.4

 

INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (the “Agreement”) is made and entered into this [●] day of [●], 2020, by and between SL
Investment Corp., a Delaware corporation (the “Company,” which term shall include, where appropriate, any Entity
controlled directly or indirectly by the Company), and [●] (the “Indemnitee”).

 

WHEREAS, it is essential
to the Company that it be able to retain and attract as directors the most capable persons available;

 

WHEREAS, increased
corporate litigation has subjected directors and officers to litigation risks and expenses, and the limitations on the availability
of directors and officers liability insurance have made it increasingly difficult to attract and retain such persons;

 

WHEREAS, the Company’s
certificate of incorporation provides that the Company may indemnify its directors and officers to the fullest extent permitted
by law;

 

WHEREAS, the Company
desires to provide Indemnitee with specific contractual assurance of Indemnitee’s rights to full indemnification against
litigation risks and expenses; and

 

WHEREAS, Indemnitee
is relying upon the rights afforded under this Agreement in becoming or continuing as a director of the Company.

 

NOW, THEREFORE, in
consideration of the promises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

 

1.             Definitions.

 

(a)              “1940 Act” means the Investment Company Act of 1940, as amended.

 

(b)              “Corporate
Status” describes the status of a person who is serving or has served (i) as a director of the Company or (ii)
as a director of any other Entity at the request of the Company. For purposes of subsection (ii) of this Section 1(b), if Indemnitee
is serving or has served as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of a
Subsidiary (as defined below), Indemnitee shall be deemed to be serving at the request of the Company. If Indemnitee is an officer
of the Company, Corporate Status shall not include actions taken by Indemnitee in any capacity other than as a director (except
as provided in subsection (ii) of this definition).

 

(c)              “Entity”
shall mean any corporation, partnership, limited liability company, joint venture, trust, foundation, association, organization
or other legal entity.

 

(d)              “Expenses”
shall mean all reasonable and out-out-pocket fees, costs and expenses incurred by Indemnitee in connection with prosecuting, defending,
preparing to prosecute or defend, investigating, being or preparing to be a witness in or otherwise participating in any Proceeding
(as defined below), including, without limitation, attorneys’ fees, disbursements and retainers (including, without limitation,
any such fees, disbursements and retainers incurred by Indemnitee pursuant to Sections 11 and 12(c)), fees
and disbursements of expert witnesses, private investigators, professional advisors (including, without limitation, accountants
and investment bankers), court costs, transcript costs, fees of experts, travel expenses, duplicating, printing and binding costs,
telephone and fax transmission charges, postage, delivery services, secretarial services, and other disbursements and expenses.

 

    	 	1	 

     

    

 

(e)              “Indemnifiable
Expenses,” “Indemnifiable Liabilities” and “Indemnifiable Amounts” shall have
the meanings ascribed to those terms in Section 3(a).

 

(f)               “Liabilities” shall mean judgments, damages, liabilities, losses, penalties, excise taxes, fines
and amounts paid in settlement.

 

(g)              “Proceeding”
shall mean any threatened, pending or completed claim, action, suit, arbitration, alternate dispute resolution process, investigation,
administrative hearing, appeal, or any other proceeding, whether civil, criminal, administrative, arbitrative or investigative,
whether formal or informal, including a proceeding initiated by Indemnitee pursuant to Section 11 to enforce Indemnitee’s
rights hereunder.

 

(h)              “Subsidiary”
shall mean any Entity of which the Company owns (either directly or through or together with another Subsidiary of the Company)
either (i) a general partner, managing member or other similar interest or (ii) (A) 50% or more of the voting power of the voting
capital equity interests of such Entity, or (B) 50% or more of the outstanding voting capital stock or other voting equity interests
of such Entity.

 

2.             Services of Indemnitee. In consideration of the Company’s
covenants and commitments hereunder, Indemnitee agrees to serve or continue to serve as a director of the Company. However, this
Agreement shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company beyond
any period otherwise required by law or by other agreements or commitments of the parties, if any.

 

3.             Agreement
to Indemnify. The Company agrees to indemnify Indemnitee as follows:

 

(a)              Proceedings
Other Than by or in the Right of the Company. Subject to the exceptions contained in Section 4(a) and in a manner consistent
with applicable law, including the 1940 Act, if Indemnitee was or is a party or is threatened to be made a party to any Proceeding
(other than an action by or in the right of the Company) by reason of Indemnitee’s Corporate Status, Indemnitee shall be
indemnified by the Company against all Expenses and Liabilities incurred or paid by Indemnitee in connection with such Proceeding
(referred to herein as “Indemnifiable Expenses” and “Indemnifiable Liabilities,” respectively,
and collectively as “Indemnifiable Amounts”). Notwithstanding the foregoing, no Indemnitee shall be entitled
to indemnification under this Section 3(a) for liability which arose as a result of Indemnitee’s willful misfeasance,
bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office.

 

(b)              Proceedings
by or in the Right of the Company. Subject to the exceptions contained in Section 4(b) and in a manner consistent with
applicable law, including the 1940 Act, if Indemnitee was or is a party or is threatened to be made a party to any Proceeding
by or in the right of the Company by reason of Indemnitee’s Corporate Status, Indemnitee shall be indemnified by the Company
against all Indemnifiable Expenses. Notwithstanding the foregoing, no Indemnitee shall be entitled to indemnification under this
Section 3(b) for liability which arose as a result of Indemnitee’s willful misfeasance, bad faith, gross negligence
or reckless disregard of the duties involved in the conduct of his or her office.

 

    	 	2	 

     

    

 

(c)              Presumption
Regarding Standard of Care. In making any determination required to be made under Delaware law with respect to entitlement
to indemnification hereunder, the person, persons or entity making such determination shall presume that Indemnitee is entitled
to indemnification under this Agreement if Indemnitee submitted a request therefor in accordance with Section 5, and the
Company shall have the burden of rebutting that presumption in connection with the making by any person, persons or entity of
any determination contrary to that presumption in a manner consistent with the 1940 Act.

 

4.             Exceptions to Indemnification. Subject to Section
20, Indemnitee shall be entitled to indemnification under Sections 3(a) and 3(b) above in all circumstances and
with respect to each and every specific claim, issue or matter involved in the Proceeding out of which Indemnitee’s claim
for indemnification has arisen, except as follows:

 

(a)              Proceedings
Other Than by or in the Right of the Company. If indemnification is requested under Section 3(a) and it has been
finally adjudicated by a court of competent jurisdiction that, in connection with such specific claim, issue or matter, Indemnitee
failed to act (i) in good faith and (ii) in a manner Indemnitee reasonably believed to be in or not opposed to the best interests
of the Company, or, with respect to any criminal Proceeding, Indemnitee had reasonable cause to believe that Indemnitee’s
conduct was unlawful, Indemnitee shall not be entitled to payment of Indemnifiable Amounts hereunder to the extent that they arise
out of such claim, issue or matter.

 

(b)              Proceedings
by or in the Right of the Company. If indemnification is requested under Section 3(b) and

 

(i)        it
has been finally adjudicated by a court of competent jurisdiction that, in connection with such specific claim, issue or matter,
Indemnitee failed to act (A) in good faith and (B) in a manner Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company, Indemnitee shall not be entitled to payment of Indemnifiable Expenses hereunder to the extent that they
arise out of such claim, issue or matter;

 

(ii)        it
has been finally adjudicated by a court of competent jurisdiction that Indemnitee is liable to the Company with respect to such
specific claim, Indemnitee shall not be entitled to payment of Indemnifiable Expenses hereunder with respect to such claim, issue
or matter unless the district court or another court in which such Proceeding was brought shall determine upon application that,
despite the adjudication of liability, but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled
to indemnification for such Indemnifiable Expenses that such court shall deem proper; or

 

(iii)        it
has been finally adjudicated by a court of competent jurisdiction that Indemnitee is liable to the Company for an accounting of
profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of
the Securities Exchange Act of 1934, as amended, the rules and regulations promulgated thereunder and amendments thereto or similar
provisions of any federal, state or local statutory law, Indemnitee shall not be entitled to payment of Indemnifiable Expenses
hereunder.

 

(c)              Insurance
Proceeds. To the extent payment is actually made to Indemnitee under a valid and collectible insurance policy maintained at
the expense of the Company in respect of Indemnifiable Amounts in connection with such specific claim, issue or matter, Indemnitee
shall not be entitled to payment of Indemnifiable Amounts hereunder except in respect of any excess of such Indemnifiable Amounts
beyond the amount of payment under such insurance.

 

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5.              Procedure
for Payment of Indemnifiable Amounts. Indemnitee shall submit to the Company a written request specifying the Indemnifiable
Amounts for which Indemnitee seeks payment under Section 3 and the basis for the claim. The Company shall pay such
Indemnifiable Amounts to Indemnitee promptly, but in no event later than ten (10) calendar days after receipt of such request.
At the request of the Company, Indemnitee shall furnish such documentation and information as are reasonably available to Indemnitee
and necessary to establish that Indemnitee is entitled to indemnification hereunder.

 

6.             Indemnification
for Expenses of a Party Who is Wholly or Partially Successful. Notwithstanding any other provision of this Agreement, and
without limiting any such provision, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party
to and is successful, on the merits or otherwise, in any Proceeding, Indemnitee shall be indemnified against all Expenses incurred
by Indemnitee or on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding
but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding,
the Company shall indemnify Indemnitee against all Expenses incurred by Indemnitee or on Indemnitee’s behalf in connection
with each successfully resolved claim, issue or matter. For purposes of this Agreement, the termination of any claim, issue or
matter in such a Proceeding by dismissal, with or without prejudice, by reason of settlement, judgment, order or otherwise, shall
be deemed to be a successful result as to such claim, issue or matter.

 

7.             Effect
of Certain Resolutions. Neither the settlement nor termination of any Proceeding nor the failure of the Company to award indemnification
or to determine that indemnification is payable shall create a presumption that Indemnitee is not entitled to indemnification
hereunder. In addition, the termination of any Proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere
or its equivalent shall not create a presumption that Indemnitee did not meet the requisite standard of conduct described herein
for indemnification.

 

8.              Agreement to Advance Expenses; Undertaking. In a manner
consistent with applicable law, including the 1940 Act, the Company shall advance all Expenses incurred by or on behalf of Indemnitee
in connection with any Proceeding, including a Proceeding by or in the right of the Company, in which Indemnitee is involved by
reason of such Indemnitee’s Corporate Status within ten (10) calendar days after the receipt by the Company of a written
statement from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of
such Proceeding. Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee’s ability
to repay the expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions
of this Agreement. To the extent required by Delaware law and the 1940 Act, Indemnitee hereby undertakes to repay any and all of
the amount of Indemnifiable Expenses paid to Indemnitee if it is finally determined by a court of competent jurisdiction that Indemnitee
is not entitled under this Agreement to indemnification with respect to such Expenses. This undertaking is an unlimited general
obligation of Indemnitee.

 

9.              Procedure
for Advance Payment of Expenses. Indemnitee shall submit to the Company a written request specifying the Indemnifiable Expenses
for which Indemnitee seeks an advancement under Section 8, together with documentation evidencing that Indemnitee has incurred
such Indemnifiable Expenses. 

 

10.           Indemnification for Expenses of a Witness. Notwithstanding
any other provision of this Agreement, to the extent that Indemnitee is, by reason of his or her Corporate Status, a witness in
any Proceeding to which Indemnitee is not a party, he or she shall be indemnified against all Expenses actually and reasonably
incurred by him or her on his or her behalf in connection therewith.

 

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11.           Remedies
of Indemnitee.

 

(a)              Right
to Petition Court. In the event that Indemnitee makes a request for payment of Indemnifiable Amounts under Sections 3
and 5 or a request for an advancement of Indemnifiable Expenses under Sections 8 and 9 and the
Company fails to make such payment or advancement in a timely manner pursuant to the terms of this Agreement, Indemnitee may petition
the district court to enforce the Company’s obligations under this Agreement.

 

(b)              Burden
of Proof. In any judicial proceeding brought under Section 11(a), the Company shall have the burden of proving
that Indemnitee is not entitled to payment of Indemnifiable Amounts hereunder.

 

(c)              Expenses. In a manner consistent with applicable law, including the 1940 Act, the Company agrees to reimburse
Indemnitee in full for any Expenses incurred by Indemnitee in connection with investigating, preparing for, litigating, defending
or settling any action brought by Indemnitee under Section 11(a), or in connection with any claim or counterclaim brought
by the Company in connection therewith, whether or not Indemnitee is successful in whole or in part in connection with any such
action, except to the extent that it has been finally adjudicated by a court of competent jurisdiction that such reimbursement
would be unlawful.

 

(d)              Failure to Act Not a Defense. The failure of the Company (including its Board of Directors (“Board
of Directors”) or any committee thereof, independent legal counsel, or stockholders) to make a determination concerning
the permissibility of the payment of Indemnifiable Amounts or the advancement of Indemnifiable Expenses under this Agreement shall
not be a defense in any action brought under Section 11(a), and shall not create a presumption that such payment or
advancement is not permissible.

 

12.           Defense
of the Underlying Proceeding.

 

(a)              Notice
by Indemnitee. Indemnitee agrees to notify the Company promptly upon being served with any summons, citation, subpoena, complaint,
indictment, information, or other document relating to any Proceeding which may result in the payment of Indemnifiable Amounts
or the advancement of Indemnifiable Expenses hereunder; provided, however, that the failure to give any such notice shall not
disqualify Indemnitee from the right, or otherwise affect in any manner any right of Indemnitee, to receive payments of Indemnifiable
Amounts or advancements of Indemnifiable Expenses unless the Company’s ability to defend in such Proceeding is materially
and adversely prejudiced thereby.

 

(b)              Defense
by Company. Subject to the provisions of the last sentence of this Section 12(b) and of Section 12(c), the Company
shall have the right to defend Indemnitee in any Proceeding which may give rise to the payment of Indemnifiable Amounts hereunder;
provided, however that the Company shall notify Indemnitee of any such decision to defend within ten (10) calendar days of receipt
of notice of any such Proceeding under Section 12(a). The Company shall not, without the prior written consent of Indemnitee,
consent to the entry of any judgment against Indemnitee or enter into any settlement or compromise which (i) includes an admission
of fault of Indemnitee or (ii) does not include, as an unconditional term thereof, the full release of Indemnitee from all liability
in respect of such Proceeding, which release shall be in form and substance reasonably satisfactory to Indemnitee. This Section
12(b) shall not apply to a Proceeding brought by Indemnitee under Section 11(a) or pursuant to Section 20.

 

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(c)              Indemnitee’s
Right to Counsel. Notwithstanding the provisions of Section 12(b), if in a Proceeding to which Indemnitee is a party
by reason of Indemnitee’s Corporate Status, (i) Indemnitee reasonably concludes that he or she may have separate defenses
or counterclaims to assert with respect to any issue that may not be consistent with the position of other defendants in such
Proceeding, (ii) a conflict of interest or potential conflict of interest exists between Indemnitee and the Company, or (iii)
if the Company fails to assume the defense of such proceeding in a timely manner, Indemnitee shall be entitled to be represented
by separate legal counsel of Indemnitee’s choice at the expense of the Company. In addition, if the Company fails to comply
with any of its obligations under this Agreement or in the event that the Company or any other person takes any action to declare
this Agreement void or unenforceable, or institutes any action, suit or proceeding to deny or to recover from Indemnitee the benefits
intended to be provided to Indemnitee hereunder, Indemnitee shall have the right to retain counsel of Indemnitee’s choice,
at the expense of the Company, to represent Indemnitee in connection with any such matter and the Expenses incurred by Indemnitee
in any such matter shall constitute Indemnifiable Expenses.

 

13.           Representations and Warranties of the Company. The Company
hereby represents and warrants to Indemnitee as follows:

 

(a)              Authority.
The Company has all necessary power and authority to enter into, and be bound by the terms of, this Agreement, and the execution,
delivery and performance of the undertakings contemplated by this Agreement have been duly authorized by the Company.

 

(b)              Enforceability.
This Agreement, when executed and delivered by the Company in accordance with the provisions hereof, shall be a legal, valid and
binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the enforcement of creditors’
rights generally.

 

14.            Insurance.
The Company will use its reasonable best efforts to acquire directors and officers liability insurance, on terms and conditions
deemed appropriate by the Board of Directors, with a reputable insurance company providing Indemnitee with coverage for losses
from wrongful acts. For so long as Indemnitee shall have Corporate Status, Indemnitee shall be named as an insured in all policies
of director and officer liability insurance in such a manner as to provide Indemnitee the same rights and benefits as are accorded
to the most favorably insured of the Company’s officers and directors. If, at the time of the receipt of a notice of a claim
pursuant to the terms of this Agreement, the Company has director and officer liability insurance in effect, the Company shall
give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective
policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee,
all amounts payable as a result of such proceeding in accordance with the terms of such policies.

 

15.           Contract
Rights Not Exclusive. The rights to payment of Indemnifiable Amounts and advancement of Indemnifiable Expenses provided by
this Agreement shall be in addition to, but not exclusive of, any other rights which Indemnitee may have at any time under applicable
law, any governing documents of the Company or any other agreement, vote of stockholders or directors (or a committee of directors),
or otherwise, both as to action in Indemnitee’s official capacity and as to action in any other capacity as a result of
Indemnitee’s serving as a director of the Company.

 

16.           Successors. This Agreement shall be (a) binding upon
all successors and assigns of the Company (including any transferee of all or a substantial portion of the business, stock and/or
assets of the Company and any direct or indirect successor by merger or consolidation or otherwise by operation of law) and (b)
binding on and shall inure to the benefit of the heirs, personal representatives, executors and administrators of Indemnitee. This
Agreement shall continue for the benefit of Indemnitee and such heirs, personal representatives, executors and administrators after
Indemnitee has ceased to have Corporate Status.

 

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17.            Subrogation.
In the event of any payment of Indemnifiable Amounts under this Agreement, the Company shall be subrogated to the extent of such
payment to all of the rights of contribution or recovery of Indemnitee against other persons, and Indemnitee shall take, at the
request of the Company, all reasonable action necessary to secure such rights, including the execution of such documents as are
necessary to enable the Company to bring suit to enforce such rights. 

 

18.           Change
in Law. To the extent that a change in Delaware law or the 1940 Act (whether by statute or judicial decision) shall permit
broader indemnification or advancement of expenses than is provided under the terms of this Agreement, Indemnitee shall be entitled
to such broader indemnification and advancements, and this Agreement shall be deemed to be amended to such extent.

 

19.           Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable
law, but if any provision of this Agreement, or any clause thereof, shall be determined by a court of competent jurisdiction to
be illegal, invalid or unenforceable, in whole or in part, such provision or clause shall be limited or modified in its application
to the minimum extent necessary to make such provision or clause valid, legal and enforceable, and the remaining provisions and
clauses of this Agreement shall remain fully enforceable and binding on the parties.

 

20.           Indemnitee as Plaintiff. Except as provided in Section
11(b), Indemnitee shall not be entitled to payment of Indemnifiable Amounts or advancement of Indemnifiable Expenses with respect
to any Proceeding brought by Indemnitee against the Company, any Entity which it controls, any director or officer thereof, or
any third party, unless the Board of Directors has consented to the initiation of such Proceeding or the Company provides indemnification,
in its sole discretion, pursuant to the powers vested in the Company under applicable law.

 

21.           Duration.
This Agreement shall continue until and terminate on the later of (i) the date that Indemnitee shall have ceased to serve as a
director of the Company or as a director of the Company and as a director, trustee, officer, partner, manager, managing
member, fiduciary, employee or agent of any other Entity that such person is or was serving in such capacity at the request of
the Company and (ii) the date that Indemnitee is no longer subject to any actual or possible Proceeding (including any rights
of appeal thereto and any Proceeding commenced by Indemnitee pursuant to this Agreement).

 

22.           Modifications
and Waivers; Counterparts. Except as provided in Section 18 with respect to changes in Delaware law which broaden
the right of Indemnitee to be indemnified by the Company or to receive advancements, no supplement, modification or amendment
of this Agreement shall be binding unless executed in writing by each of the parties hereto. No waiver of any of the provisions
of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement (whether or not similar),
nor shall such waiver constitute a continuing waiver. This Agreement may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same Agreement. This Agreement may also be
executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.

 

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23.           General
Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have
been duly given (a) when delivered by hand, (b) when transmitted by facsimile or electronic mail and receipt is acknowledged during
normal business hours, and if not, the next business day after transmission, or (c) if mailed by certified or registered mail
with postage prepaid, on the third business day after the date on which it is so mailed:

 

	 	(i)	If to Indemnitee, to:	 
	 	 	 	 
	 	 	[Indemnitee]	 
	 	 	[●]	 
	 	 	[●]	 
	 	 	[●]	 
	 	 	Facsimile: [●]	 
	 	 	 	 
	 	(ii)	If to the Company, to:	 
	 	 	 	 
	 	 	SL Investment Corp.	 
	 	 	c/o MS Capital Partners Adviser Inc.	 
	 	 	1585 Broadway	 
	 	 	New York, NY 10036	 
	 	 	Attention: Jeffrey S. Levin	 
	 	 	Email: jeff.levin@morganstanley.com	 
	 	 	 	 
	 	 	and	 
	 	 	 	 
	 	 	Dechert LLP	 
	 	 	One International Place	 
	 	 	40th Floor	 
	 	 	100 Oliver Street	 
	 	 	Boston, MA 02110	 
	 	 	Attention: Thomas Friedmann	 

 

or to such other address as may have been
furnished in the same manner by any party to the others.

 

24.           Governing
Law; Consent to Jurisdiction; Service of Process. This Agreement shall be governed by and construed in accordance with the
laws of the State of Delaware without regard to its rules of conflict of laws. Each of the Company and Indemnitee hereby irrevocably
and unconditionally consents to submit to the exclusive jurisdiction of the courts of the State of Delaware and the courts of the
United States of America located in the State of Delaware (the “Delaware Courts”) for any litigation arising
out of or relating to this Agreement and the transactions contemplated hereby (and agrees not to commence any litigation relating
thereto except in such courts), waives any objection to the laying of venue of any such litigation in the Delaware Courts and agrees
not to plead or claim in any Delaware Court that such litigation brought therein has been brought in an inconvenient forum. Each
of the parties hereto agrees, (a) to the extent such party is not otherwise subject to service of process in the State of Delaware,
to appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance of legal process, and (b)
that service of process may also be made on such party by prepaid certified mail with a proof of mailing receipt validated by the
United States Postal Service constituting evidence of valid service. Service made pursuant to (a) or (b) above shall have the same
legal force and effect as if served upon such party personally within the State of Delaware. For purposes of implementing the parties’
agreement to appoint and maintain an agent for service of process in the State of Delaware, each such party does hereby appoint
The Corporation Trust Company, as such agent and each such party hereby agrees to complete all actions necessary for such appointment.

 

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25.           Joinders.
Subsidiaries of the Company may from time to time join this Agreement by signing a joinder to this Agreement. The Company and all
Subsidiaries that have joined this Agreement shall be jointly and severally liable for all obligations of the Company under this
Agreement.

 

[The remainder of this page is intentionally
blank]

 

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IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

 

	 	SL INVESTMENT Corp.
	 	 
	 	 
	 	 
	 	By:	         
	 	Name:
	 	Title:

 

[Signature Page to Indemnification Agreement]

 

    

     

    

 

	 	INDEMNITEE
	 	 
	 	 
	 	 
	 	 
	 	[●]

 

[Signature Page to Indemnification Agreement]

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