Document:

EX-10.1

 Exhibit 10.1 

EXPENSE SUPPORT AND CONDITIONAL REIMBURSEMENT AGREEMENT 

This Expense Support and Conditional Reimbursement Agreement (the “Agreement”) is made this 12th day of December, 2018, by
and between BLACKSTONE / GSO SECURED LENDING FUND, a Delaware statutory trust (the “Fund”), and GSO ASSET MANAGEMENT LLC, a Delaware limited liability company (the “Adviser”). 

WHEREAS, the Fund is a non-diversified, closed-end management
investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended (the “Investment Company Act”); 

WHEREAS, the Fund has retained the Adviser to furnish investment advisory services to the Fund on the terms and conditions set forth in the
investment advisory agreement, dated October 1, 2018, entered between the Fund and the Adviser, as may be amended or restated (the “Investment Advisory Agreement”); 

WHEREAS, the Fund and the Adviser have determined that it is appropriate and in the best interests of the Fund that the Adviser may elect to
pay a portion of the Fund’s expenses from time to time, which the Fund will be obligated to reimburse to the Adviser at a later date if certain conditions are met. 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the parties hereby agree as follows: 

 

	1.	 Adviser Expense Payments to the Fund 

(a) At such times as the Adviser determines, the Adviser may elect to pay certain expenses of the Fund on the Fund’s behalf (each such
payment, an “Expense Payment”). In making an Expense Payment, the Adviser will designate, as it deems necessary or advisable, what type of Expense it is paying (including, whether it is paying organizational or offering expenses);
provided that no portion of an Expense Payment will be used to pay any interest expense of the Fund. 
 (b) The Fund’s right to receive
an Expense Payment shall be an asset of the Fund upon the Adviser committing in writing to pay the Expense Payment pursuant to a notice substantially in the form of Appendix A. Any Expense Payment that the Adviser has committed to pay shall
be paid by the Adviser to the Fund in any combination of cash or other immediately available funds no later than forty-five days after such commitment was made in writing, and/or offset against amounts due from the Fund to the Adviser or its
affiliates.     
  

	2.	 Reimbursement of Expense Payments by the Fund 

(a) Following any calendar quarter in which Available Operating Funds (as defined below) exceed the cumulative distributions accrued to the
Fund’s shareholders based on distributions declared with respect to record dates occurring in such calendar quarter (the amount of such excess being hereinafter referred to as “Excess Operating Funds”), the Fund shall pay such
Excess Operating Funds, or a portion thereof in accordance with Sections 2(b) and 2(c), as applicable, to the Adviser until such time as all Expense Payments made by the Adviser to the Fund within three years prior to the last business day of such
calendar quarter have been reimbursed. Any payments required to be made by the Fund pursuant to this Section 2(a) shall be referred to herein as a “Reimbursement Payment.” For purposes of this Agreement, “Available
Operating Funds” means the sum of (i) the Fund’s net investment company taxable income (including net short-term capital gains reduced by net long-term capital losses), (ii) the Fund’s net capital gains (including the excess
of net long-term capital gains over net short-term capital losses) and (iii) dividends and other distributions paid to the Fund on account of investments in portfolio companies (to the extent such amounts listed in clause (iii) are not
included under clauses (i) and (ii) above). 

 (b) Subject to Section 2(c), the amount of the Reimbursement Payment for any calendar
quarter shall equal the lesser of (i) the Excess Operating Funds in such quarter and (ii) the aggregate amount of all Expense Payments made by the Adviser to the Fund within three years prior to the last business day of such calendar
quarter that have not been previously reimbursed by the Fund to the Adviser; provided that the Adviser may waive its right to receive all or a portion of any Reimbursement Payment in any particular calendar quarter, in which case such waived amount
will remain unreimbursed Expense Payments reimbursable in future quarters pursuant to the terms of this Agreement. 
 (c) Notwithstanding
anything to the contrary in this Agreement, no Reimbursement Payment for any calendar quarter shall be made if the annualized rate of regular cash distributions declared by the Fund on record dates in the applicable calendar quarter of such
Reimbursement Payment is less than the annualized rate of regular cash distributions declared by the Fund on record dates in the calendar quarter in which the Expense Payment was committed to which such Reimbursement Payment relates. 

(d) The Fund’s obligation to make a Reimbursement Payment shall automatically become a liability of the Fund on the last business day of
the applicable calendar quarter, except to the extent the Adviser has waived its right to receive such payment for the applicable quarter. In connection with any Reimbursement Payment, the Fund may deliver a notice substantially in the form of
Appendix A. The Reimbursement Payment for any calendar quarter shall be paid by the Fund to the Adviser in any combination of cash or other immediately available funds as promptly as possible following such calendar quarter and in no event
later than forty-five days after the end of such calendar quarter. 
 (e) All Reimbursement Payments hereunder shall be deemed to relate to
the earliest unreimbursed Expense Payments made by the Adviser to the Fund within three years prior to the last business day of the calendar quarter in which such Reimbursement Payment obligation is accrued. 

 

	3.	 Termination and Survival 

(a) This Agreement shall become effective as of the date of this Agreement. 

(b) This Agreement may be terminated at any time, without the payment of any penalty, by the Fund or the Adviser at any time, with or without
notice. 
 (c) This Agreement shall automatically terminate in the event of (i) the termination by the Fund of the Investment Advisory
Agreement; (ii) the board of trustees of the Fund makes a determination to dissolve or liquidate the Fund; or (iii) upon a quotation or listing of the Fund’s securities on a national securities exchange (including through an initial
public offering) or a sale of all or substantially all of the Fund’s assets to, or a merger or other liquidity transaction with, an entity in which the Fund’s shareholders receive shares of a publicly-traded company which continues to be
managed by the Adviser or an affiliate thereof. 
 (d) Sections 3 and 4 of this Agreement shall survive any termination of this Agreement.
Notwithstanding anything to the contrary, Section 2 of this Agreement shall survive any termination of this Agreement with respect to any Expense Payments that have not been reimbursed by the Fund to the Adviser. 

	4.	 Miscellaneous 

(a) The captions of this Agreement are included for convenience only and in no way define or limit any of the provisions hereof or otherwise
affect their construction or effect. 
 (b) This Agreement contains the entire agreement of the parties and supersedes all prior agreements,
understandings and arrangements with respect to the subject matter hereof. 
 (c) Notwithstanding the place where this Agreement may be
executed by any of the parties hereto, this Agreement shall be construed in accordance with the laws of the State of New York. For so long as the Fund is regulated as a business development company under the Investment Company Act, this Agreement
shall also be construed in accordance with the applicable provisions of the Investment Company Act. In such case, to the extent the applicable laws of the State of New York or any of the provisions herein conflict with the provisions of the
Investment Company Act, the latter shall control. Further, nothing in this Agreement shall be deemed to require the Fund to take any action contrary to the Fund’s Second Amended and Restated Agreement and Declaration of Trust or By-Laws, as each may be amended or restated, or to relieve or deprive the board of trustees of the Fund of its responsibility for and control of the conduct of the affairs of the Fund. 

(d) If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of this
Agreement shall not be affected thereby and, to this extent, the provisions of this Agreement shall be deemed to be severable. 
 (e) The
Fund shall not assign this Agreement or any right, interest or benefit under this Agreement without the prior written consent of the Adviser. 

(f) This Agreement may be amended in writing by mutual consent of the parties. This Agreement may be executed by the parties on any number of
counterparts, delivery of which may occur by facsimile or as an attachment to an electronic communication, each of which shall be deemed an original, and all of said counterparts taken together shall be deemed to constitute one and the same
instrument. 
 [Remainder of page intentionally left blank.] 

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

			
	BLACKSTONE / GSO SECURED LENDING FUND
		
	By:	 	 /s/ Marisa J. Beeney

	Name:	 	Marisa J. Beeney
	Title:	 	Chief Compliance Officer, Chief Legal Officer and Secretary
	
	GSO ASSET MANAGEMENT LLC
		
	By:	 	 /s/ Marisa J. Beeney

	Name:	 	Marisa J. Beeney
	Title:	 	Authorized Signatory

 [Signature Page to Expense Support and Conditional Reimbursement Agreement] 

 Appendix A 

Form of Notice of Expense Payment or Reimbursement Payment 

☐ Expense Payment 
 Expense Payment
Effective Date:
                                         
                          

Expense Payment Amount: 
 Organizational Expense:
                                         
                                

Offering Expense:
                                         
                            

Management Fee:
                                         
                            

Incentive Fee:
                                         
                            

Other:
                                         
                            

Total:
                                         
                            

All Expense Payments are subject to reimbursement pursuant to the terms of the Agreement. 

☐ Reimbursement Payment 

Reimbursement Payment Effective Date:
                                         
                          

Reimbursement Payment Amount: 
 Organizational
Expense:
                                         
                                

Offering Expense:
                                         
                            

Management Fee:
                                         
                            

Incentive Fee:
                                         
                            

Other:
                                         
                            

Total:EX-10.2

 Exhibit 10.2 

BLACKSTONE / GSO SECURED LENDING FUND 

Amended and Restated Dividend Reinvestment Plan 

This Dividend Reinvestment Plan (the “Plan”) provides holders of common shares of beneficial interest (the “Shares”) of
Blackstone / GSO Secured Lending Fund (the “Fund”) enrolled in the Plan (the “Participants”) with a convenient method of purchasing additional Shares by automatically reinvesting all or a portion of cash dividends
on Shares. Each holder of Shares (a “Shareholder”) is advised as follows: 
  

	1.	 Enrollment of Participants. A Shareholder automatically participates in the Plan, unless the Shareholder
affirmatively elects in the Fund’s subscription documents not to participate. A Shareholder whose Shares are registered in the name of a nominee (such as an intermediary firm through which the Shareholder acquired Shares (an
“Intermediary”)) must contact the nominee regarding the Shareholder’s status under the Plan. 

  

	2.	 The Plan Administrator. DST Systems, Inc. (the “Plan Administrator”) acts as Plan
administrator for each Participant. The Plan Administrator or its delegee Plan administrator will open an account for each Participant under the Plan in the same name as the one in which the Participant’s outstanding Shares are registered.

  

	3.	 Distributions. The Fund will declare all income dividends and/or capital gains distributions
(collectively, “Distributions”) payable in Shares (or, as discussed below, at the option of Shareholders solely upon an affirmative election, in cash). Prior to a quotation or listing of the Fund’s securities on a national
securities exchange (including through an initial public offering) or a sale of all or substantially all of the Fund’s assets to, or a merger or other liquidity transaction with, an entity in which Shareholders receive shares of a
publicly-traded company that continues to be managed by the Fund’s investment adviser or an affiliate thereof (an “Exchange Listing”), to the extent that a Participant reinvests Distributions in additional Shares, the
Participant will receive an amount of Shares equal to the amount of the Distribution on that Participant’s Shares divided by the most recent fiscal quarter-end net asset value per Share that is available
on the date such Distribution was paid (unless the Fund’s board of directors (the “Board”) determines to use the net asset value per share as of another time) (the “Reference NAV”). Shareholders receiving
Distributions in the form of additional Shares will be treated for tax purposes as receiving a Distribution in the amount of cash that they would have received if they had elected to receive the Distribution in cash, unless the Fund issues
additional Shares with a fair market value equal to or greater than the Reference NAV, in which case such Shareholders will be treated as receiving a Distribution in the amount of the fair market value of the distributed Shares. Following an
Exchange Listing, to the extent that a Participant reinvests Distributions in additional Shares, the Participant will receive an amount of Shares equal to the amount of the Distribution on that Participant’s Shares divided by the market price
per Share at the close of regular trading on the applicable stock exchange on the date of such Distribution, subject to the adjustments described below. 

	 	
The market price per Share on a particular date shall be the closing price for such Shares on the applicable stock exchange on such date or, if no sale is reported for such date, at the average
of their reported bid and asked prices. However, if the market price per Share exceeds the most recently computed net asset value per Share, the Fund shall issue Shares at the greater of (i) the most recently computed net asset value per Share
and (ii) 95% of the current market price per Share (or such lesser discount to the current market price per Share that still exceeds the most recently computed net asset value per Share). Such Distributions shall be payable on such date or dates as
may be fixed from time to time by the Board to Shareholders of record at the close of business on the record date established by the Board for the Distribution involved. 

 

	4.	 Withdrawing from the Plan. A Participant may terminate its participation in the Plan at any time by
sending a written notice to DST Systems, Inc., 333 W. 11th Street, 5th Floor, Kansas City, MO 64105, who, upon receipt of such notice, will cause the Participant to receive both income dividends and capital gain distributions, if any, in cash. A
Participant holding Shares through an Intermediary may elect to receive cash by notifying the Intermediary (who should be directed to inform the Fund). A Shareholder is free to change this election at any time. If, however, a Shareholder requests to
change its election within 95 days prior to a Distribution, the request will be effective only with respect to Distributions after the 95 day period. 

  

	5.	 Recordkeeping. The Plan Administrator will reflect each Participant’s Shares acquired pursuant to
the Plan together with the Shares of other Shareholders of the Fund acquired pursuant to the Plan in non-certificated form. Each Participant will be sent a confirmation by the Plan Administrator of each
acquisition made for its account as soon as practicable, but not later than 60 days after the date thereof. Distributions on fractional Shares will be credited to each Participant’s account to three decimal places. In the event of termination
of a Participant’s account under the Plan prior to an Exchange Listing, the Plan Administrator will adjust for any such undivided fractional interest in cash of the Reference NAV of the affected class of Shares at the time of termination. In
the event of termination of a Participant’s account under the Plan following an Exchange Listing, the Plan Administrator will adjust for any such undivided fractional interest in cash of the market price per Share or other price per Share, as
described above, of the affected class of Shares at the time of termination. Any Share Distributions or split Shares distributed by a Fund on Shares held by the Plan Administrator for Participants will be credited to their accounts.

  

	6.	 Fees. The Plan Administrator’s service fee for handling Distributions will be paid by the Fund.

	7.	 Termination of the Plan. The Plan may be terminated by the Fund at any time upon written notice to the
Participants. 

  

	8.	 Amendment of the Plan. These terms and conditions may be amended by the Fund at any time or times but,
except when necessary or appropriate to comply with applicable law or any applicable rules or policies of the Securities and Exchange Commission or any other regulatory authority, only by sending written notice to the Participants at least 30 days
prior to the effective date thereof. The amendment shall be deemed to be accepted by each Participant unless, prior to the effective date thereof, the Plan Administrator receives written notice of the termination of the Participant’s account
under the Plan. 

  

	9.	 Standard of Care. The Plan Administrator shall at all times act in good faith and agree to use its best
efforts within reasonable limits to insure the accuracy of all services performed under the Plan and to comply with applicable law, but the Plan Administrator assumes no responsibility and shall not be liable for loss or damage due to errors unless
such error is caused by the negligence, bad faith or willful misconduct of the Plan Administrator or its employees. 

  

	10.	 Applicable Law. These terms and conditions shall be governed by the laws of the State of New York.

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