Document:

EX-4.1

 Exhibit 4.1 
 FAMOUS DAVE’S OF AMERICA, INC. 
 AMENDED AND RESTATED

 2005 STOCK INCENTIVE PLAN 

 

	1.	Purpose. The purpose of the 2005 Stock Incentive Plan (the “Plan”) of Famous Dave’s of America, Inc. (the “Company”) is to increase
stockholder value and to advance the interests of the Company by furnishing a variety of economic incentives (“Incentives”) designed to attract, retain and motivate employees, certain key consultants and directors of the Company.
Incentives may consist of opportunities to purchase or receive shares of Common Stock, $0.01 par value per share, of the Company (“Common Stock”) on terms determined under this Plan. 

 

	2.	Administration. The Plan shall be administered by the board of directors of the Company (the “Board of Directors”) or by a stock option or compensation
committee (the “Committee”) of the Board of Directors. The Committee shall consist of not less than two directors of the Company and shall be appointed from time to time by the Board of Directors. Each member of the Committee shall be
(i) a “non-employee director” within the meaning of Rule 16b-3 of the Securities Exchange Act of 1934 (including the regulations promulgated thereunder, the “1934 Act”) (a “Non-Employee Director”), and
(ii) shall be an “outside director” within the meaning of Section 162(m) under the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated thereunder. The Committee shall have complete
authority to award Incentives under the Plan, to interpret the Plan, and to make any other determination which it believes necessary and advisable for the proper administration of the Plan. The Committee’s decisions and matters relating to the
Plan shall be final and conclusive on the Company and its participants. If at any time there is no stock option or compensation committee, the term “Committee”, as used in the Plan, shall refer to the Board of Directors.

  

	3.	Eligible Participants. Officers of the Company, employees of the Company or its subsidiaries, members of the Board of Directors, and consultants or other
independent contractors who provide services to the Company or its subsidiaries shall be eligible to receive Incentives under the Plan when designated by the Committee. Participants may be designated individually or by groups or categories (for
example, by pay grade) as the Committee deems appropriate. Participation by officers of the Company or its subsidiaries and any performance objectives relating to such officers must be approved by the Committee. Participation by others and any
performance objectives relating to others may be approved by groups or categories (for example, by pay grade) and authority to designate participants who are not officers and to set or modify such targets may be delegated. 

 

	4.	Types of Incentives. Incentives under the Plan may be granted in any one or a combination of the following forms: (a) performance shares (section 6);
(b) incentive stock options and non-statutory stock options (section 7); (c) stock appreciation rights (“SARs”) (section 8); (d) stock awards (section 9); (e) restricted stock (section 9); and restricted stock units
(section 9). 

  

  
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	5.	Shares Subject to the Plan. 

  

	 	5.1	Number of Shares. Subject to adjustment as provided in Section 10.6, the number of shares of Common Stock which may be issued under the Plan shall not
exceed 1,400,000 shares of Common Stock. Shares of Common Stock that are issued under the Plan or are subject to outstanding Incentives will be applied to reduce the maximum number of share of Common Stock remaining available for issuance under the
Plan. 

  

	 	5.2.	Cancellation. To the extent that cash in lieu of shares of Common Stock is delivered upon the exercise of a SAR pursuant to Section 8.4, the Company shall
be deemed, for purposes of applying the limitation on the number of shares, to have issued the greater of the number of shares of Common Stock which it was entitled to issue upon such exercise or on the exercise of any related option. In the event
that a stock option or SAR granted hereunder expires or is terminated or canceled unexercised as to any shares of Common Stock, such shares may again be issued under the Plan either pursuant to stock options, SARs or otherwise. In the event that
shares of Common Stock are issued as performance shares, restricted stock or pursuant to a stock award and thereafter are forfeited or reacquired by the Company pursuant to rights reserved upon issuance thereof, such forfeited and reacquired shares
may again be issued under the Plan, either as performance shares, restricted stock, pursuant to stock awards or otherwise. 

  

	 	5.3	Type of Common Stock. Common Stock issued under the Plan in connection with stock options, SARs, performance shares, restricted stock or stock awards, may be
authorized and unissued shares or treasury stock, as designated by the Committee. 

  

	6.	Performance Shares. A performance share consists of an award which shall be paid in shares of Common Stock, as described below. The grant of a performance share
shall be subject to such terms and conditions as the Committee deems appropriate, including the following: 

  

	 	6.1.	Performance Objectives. Each performance share will be subject to performance objectives for the Company or one of its operating units to be achieved by the end
of a specified period, which period shall be at least one year in length unless the Committee determines in its discretion that a shorter period warranted. The number of performance shares granted shall be determined by the Committee and may be
subject to such terms and conditions, as the Committee shall determine. If the performance objectives are achieved, each participant will be paid in shares of Common Stock. If such objectives are not met, each grant of performance shares may provide
for lesser payments in accordance with formulas established in the award. 

  

	 	6.2.	Not Stockholder. The grant of performance shares to a participant shall not create any rights in such participant as a stockholder of the Company, until the
payment of shares of Common Stock with respect to an award. 

  

	 	6.3.	No Adjustments. No adjustment shall be made in performance shares granted on account of cash dividends which may be paid or other rights which may be issued to
the holders of Common Stock prior to the end of any period for which performance objectives were established. 

  

	 	6.4.	 Expiration of Performance Share. If any participant’s employment or consulting engagement with the Company is terminated for any reason
other than normal retirement, death or disability prior to the achievement of the participant’s stated performance objectives, all the participant’s 

  
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rights on the performance shares shall expire and terminate unless otherwise determined by the Committee. In the event of termination of employment or consulting by reason of death, disability,
or normal retirement, the Committee, in its own discretion may determine what portions, if any, of the performance shares should be paid to the participant. 

 

	7.	Stock Options. A stock option is a right to purchase shares of Common Stock from the Company. Each stock option granted by the Committee under this Plan shall be
subject to the following terms and conditions: 

  

	 	7.1.	Price. The option price per share shall be determined by the Committee, subject to adjustment under Section 10.6; provided that option price shall be not
less than the Fair Market Value of the Common Stock subject to the option on the date of grant. 

  

	 	7.2.	Number. The number of shares of Common Stock subject to the option shall be determined by the Committee, subject to adjustment as provided in Section 10.6.
The number of shares of Common Stock subject to a stock option shall be reduced in the same proportion that the holder thereof exercises a SAR if any SAR is granted in conjunction with or related to the stock option. Notwithstanding the foregoing,
no person shall receive grants of Stock Options under the Plan that exceed 75,000 shares during any one fiscal year of the Company. 

  

	 	7.3.	Duration and Time for Exercise. Subject to earlier termination as provided in Section 10.4, the term of each stock option shall be determined by the
Committee but shall not exceed ten years and one day from the date of grant. Each stock option shall become exercisable at such time or times during its term as shall be determined by the Committee at the time of grant, but shall not become
exercisable more quickly than ratably over three years unless the Committee determines in its discretion that a faster schedule is warranted. The Committee may accelerate the exercisability of any stock option. 

 

	 	7.4.	Manner of Exercise. A stock option may be exercised, in whole or in part, by giving written notice to the Company, specifying the number of shares of Common
Stock to be purchased and accompanied by the full purchase price for such shares. The option price shall be payable (a) in United States dollars upon exercise of the option and may be paid by cash, uncertified or certified check or bank draft;
(b) at the discretion of the Committee, by delivery of shares of Common Stock in payment of all or any part of the option price, which shares shall be valued for this purpose at the Fair Market Value on the date such option is exercised; or
(c) at the discretion of the Committee, by instructing the Company to withhold from the shares of Common Stock issuable upon exercise of the stock option shares of Common Stock in payment of all or any part of the exercise price and/or any
related withholding tax obligations, which shares shall be valued for this purpose at the Fair Market Value or in such other manner as may be authorized from time to time by the Committee. The shares of Common Stock delivered by the participant
pursuant to Section 6.4(b) must have been held by the participant for a period of not less than six months prior to the exercise of the option, unless otherwise determined by the Committee. Prior to the issuance of shares of Common Stock upon
the exercise of a stock option, a participant shall have no rights as a stockholder. 

  

	 	7.5.	Incentive Stock Options. Notwithstanding anything in the Plan to the contrary, the following additional provisions shall apply to the grant of stock options
which are intended to qualify as Incentive Stock Options (as such term is defined in Section 422 of the Code): 

  
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	 	(a)	The aggregate Fair Market Value (determined as of the time the option is granted) of the shares of Common Stock with respect to which Incentive Stock Options are
exercisable for the first time by any participant during any calendar year (under all of the Company’s plans) shall not exceed $100,000. The determination will be made by taking incentive stock options into account in the order in which they
were granted. If such excess only applies to a portion of an Incentive Stock Option, the Committee, in its discretion, will designate which shares will be treated as shares to be acquired upon exercise of an Incentive Stock Option.

  

	 	(b)	Any Incentive Stock Option certificate authorized under the Plan shall contain such other provisions as the Committee shall deem advisable, but shall in all events be
consistent with and contain all provisions required in order to qualify the options as Incentive Stock Options. 

  

	 	(c)	All Incentive Stock Options must be granted within ten years from the earlier of the date on which this Plan was adopted by Board of Directors or the date this Plan was
approved by the stockholders. 

  

	 	(d)	Unless sooner exercised, all Incentive Stock Options shall expire no later than 10 years after the date of grant. 

 

	 	(e)	The option price for Incentive Stock Options shall be not less than the Fair Market Value of the Common Stock subject to the option on the date of grant.

  

	 	(f)	If Incentive Stock Options are granted to any participant who, at the time such option is granted, would own (within the meaning of Section 422 of the Code) stock
possessing more than 10% of the total combined voting power of all classes of stock of the employer corporation or of its parent or subsidiary corporation, (i) the option price for such Incentive Stock Options shall be not less than 110% of the
Fair Market Value of the Common Stock subject to the option on the date of grant and (ii) such Incentive Stock Options shall expire no later than five years after the date of grant. 

 

	8.	Stock Appreciation Rights. A SAR is a right to receive, without payment to the Company, a number of shares of Common Stock, cash or any combination thereof, the
amount of which is determined pursuant to the formula set forth in Section 8.4. A SAR may be granted (a) with respect to any stock option granted under this Plan, either concurrently with the grant of such stock option or at such later
time as determined by the Committee (as to all or any portion of the shares of Common Stock subject to the stock option), or (b) alone, without reference to any related stock option. Each SAR granted by the Committee under this Plan shall be
subject to the following terms and conditions: 

  

	 	8.1	Number. Each SAR granted to any participant shall relate to such number of shares of Common Stock as shall be determined by the Committee, subject to adjustment
as provided in Section 10.6. In the case of a SAR granted with respect to a stock option, the number of shares of Common Stock to which the SAR pertains shall be reduced in the same proportion that the holder of the option exercises the related
stock option. 

  

	 	8.2.	 Duration. Subject to earlier termination as provided in Section 10.4, the term of each SAR shall be determined by the Committee but shall
not exceed ten years and one day from the date of 

  
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grant. Unless otherwise provided by the Committee, each SAR shall become exercisable at such time or times, to such extent and upon such conditions as the stock option, if any, to which it
relates is exercisable. The Committee may in its discretion accelerate the exercisability of any SAR. 

  

	 	8.3.	Exercise. A SAR may be exercised, in whole or in part, by giving written notice to the Company, specifying the number of SARs which the holder wishes to
exercise. Upon receipt of such written notice, the Company shall, within 90 days thereafter, deliver to the exercising holder certificates for the shares of Common Stock or cash or both, as determined by the Committee, to which the holder is
entitled pursuant to Section 8.4. 

  

	 	8.4.	Payment. Subject to the right of the Committee to deliver cash in lieu of shares of Common Stock (which, as it pertains to officers and directors of the Company,
shall comply with all requirements of the 1934 Act), the number of shares of Common Stock which shall be issuable upon the exercise of a SAR shall be determined by dividing: 

 

	 	(a)	the number of shares of Common Stock as to which the SAR is exercised multiplied by the amount of the appreciation in such shares (for this purpose, the
“appreciation” shall be the amount by which the Fair Market Value of the shares of Common Stock subject to the SAR on the exercise date exceeds (1) in the case of a SAR related to a stock option, the purchase price of the shares of
Common Stock under the stock option or (2) in the case of a SAR granted alone, without reference to a related stock option, an amount which shall be determined by the Committee at the time of grant, subject to adjustment under
Section 10.6); by 

  

	 	(b)	the Fair Market Value of a share of Common Stock on the exercise date. 

 In lieu of issuing shares of Common Stock upon the exercise of a SAR, the Committee may elect to pay the holder of the SAR cash equal to the Fair Market Value on the exercise date of any or all of the
shares which would otherwise be issuable. No fractional shares of Common Stock shall be issued upon the exercise of a SAR; instead, the holder of the SAR shall be entitled to receive a cash adjustment equal to the same fraction of the Fair Market
Value of a share of Common Stock on the exercise date or to purchase the portion necessary to make a whole share at its Fair Market Value on the date of exercise. 
  

	9.	Stock Awards and Restricted Stock. A stock award consists of the transfer by the Company to a participant of shares of Common Stock, without other payment
therefore, as additional compensation for services to the Company. Restricted stock consists of shares of Common Stock which are sold or transferred by the Company to a participant at a price determined by the Committee (which price shall be at
least equal to the minimum price required by applicable law for the issuance of a share of Common Stock) and subject to restrictions on their sale or other transfer by the participant. Restricted stock units evidence the right to receive shares of
Common Stock at a future date. The transfer of Common Stock pursuant to stock awards and the transfer and sale of restricted stock shall be subject to the following terms and conditions: 

 

	 	9.1.	Number of Shares. The number of shares to be transferred or sold by the Company to a participant pursuant to a stock award or as restricted stock, or the
number of shares that may be issued pursuant to a restricted stock unit, shall be determined by the Committee. 

  
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	 	9.2.	Sale Price. The Committee shall determine the price, if any, at which shares of restricted stock shall be sold to a participant, which may vary from time to time
and among participants and which may be below the Fair Market Value of such shares of Common Stock at the date of sale. 

  

	 	9.3.	Restrictions. All shares of restricted stock transferred or sold hereunder, and all restricted stock units granted hereunder, shall be subject to such
restrictions as the Committee may determine which restrictions shall lapse over a period not less than three years from the date of grant as determined by the Committee, including, without limitation any or all of the following:

  

	 	(a)	a prohibition against either the sale, transfer, pledge or other encumbrance of the shares of restricted stock, or the delivery of shares pursuant to restricted stock
units, such prohibition to lapse at such time or times as the Committee shall determine (whether in annual or more frequent installments, at the time of the death, disability or retirement of the holder of such shares, or otherwise);

  

	 	(b)	a requirement that the holder of shares of restricted stock or restricted stock units forfeit, or (in the case of shares sold to a participant) resell back to the
Company at his or her cost, any right to all or a part of such shares or units in the event of termination of his or her employment or consulting engagement during any period in which such shares or units are subject to restrictions; or

  

	 	(c)	such other conditions or restrictions as the Committee may deem advisable. 

 

	 	9.4.	Escrow. In order to enforce the restrictions imposed by the Committee pursuant to Section 9.3, the participant receiving restricted stock or restricted
stock units, as applicable, shall enter into an agreement with the Company setting forth the conditions of the grant. Shares of restricted stock shall be registered in the name of the participant and deposited, together with a stock power endorsed
in blank, with the Company. Each such certificate shall bear a legend in substantially the following form: 

“The transferability of this certificate and the shares of Common Stock represented by it are subject to the terms and conditions
(including conditions of forfeiture) contained in the 2005 Stock Incentive Plan of Famous Dave’s of America, Inc. (the “Company”), and an agreement entered into between the registered owner and the Company. A copy of the Plan and the
agreement is on file in the office of the secretary of the Company.” 
  

	 	9.5.	Issuance and Delivery of Shares. Subject to Section 10.5, at the end of any time period during which the shares of restricted stock are subject to
forfeiture and restrictions on transfer, such shares will be delivered free of all restrictions to the participant or to the participant’s legal representative, beneficiary or heir. In the case of restricted stock units, no shares shall be
issued at the time such restricted stock units are granted. Subject to Section 10.5, upon the lapse or waiver of restrictions applicable to restricted stock units, or at a later time specified in the agreement governing the grant of restricted
stock units, any shares derived from the restricted stock units shall be issued and delivered to the holder of the restricted stock units. 

  

	 	9.6.	 Stockholder. Subject to the terms and conditions of the Plan, each participant receiving restricted stock shall have all the rights of a
stockholder with respect to shares of stock during 

  
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any period in which such shares are subject to forfeiture and restrictions on transfer, including without limitation, the right to vote such shares. Dividends paid in cash or property other than
Common Stock with respect to shares of restricted stock shall be paid to the participant currently. Any holder of restricted stock units shall not be, and shall not have rights and privileges of, a stockholder with respect to any shares that may be
derived from the restricted stock units unless and until such shares have been issued. 

  

	 	10.	General. 

  

	 	10.1.	Effective Date. The Plan will become effective upon its approval by the Company’s stockholders. Unless approved by the stockholders within one year
after the date of the Plan’s adoption by the Board of Directors, the Plan shall not be effective for any purpose. 

  

	 	10.2.	Duration. The Plan shall remain in effect until all Incentives granted under the Plan have either been satisfied by the issuance of shares of Common Stock or the
payment of cash or been terminated under the terms of the Plan and all restrictions imposed on shares of Common Stock in connection with their issuance under the Plan have lapsed. No Incentives may be granted under the Plan after the tenth
anniversary of the date the Plan is approved by the stockholders of the Company. 

  

	 	10.3.	Non-transferability of Incentives. No stock option, SAR, restricted stock, restricted stock unit or performance award may be transferred, pledged or assigned by
the holder thereof (except, in the event of the holder’s death, by will or the laws of descent and distribution to the limited extent provided in the Plan or the Incentive), or pursuant to a qualified domestic relations order as defined by the
Code or Title I of the Employee Retirement Income Security Act, or the rules thereunder, and the Company shall not be required to recognize any attempted assignment of such rights by any participant. Notwithstanding the preceding sentence, stock
options may be transferred by the holder thereof to Employee’s spouse, children, grandchildren or parents (collectively, the “Family Members”), to trusts for the benefit of Family Members, to partnerships or limited liability
companies in which Family Members are the only partners or shareholders, or to entities exempt from federal income taxation pursuant to Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. During a participant’s lifetime, a
stock option may be exercised only by him or her, by his or her guardian or legal representative or by the transferees permitted by the preceding sentence. 

 

	 	10.4.	Effect of Termination or Death. In the event that a participant ceases to be an employee of or consultant to the Company for any reason, including death or
disability, any Incentives may be exercised (or payments or shares may be delivered thereunder) or shall expire at such times as may be determined by the Committee and, if applicable, set forth in the Incentive. 

 

	 	10.5.	 Additional Condition. Notwithstanding anything in this Plan to the contrary: (a) the Company may, if it shall determine it necessary or
desirable for any reason, at the time of award of any Incentive or the issuance of any shares of Common Stock pursuant to any Incentive, require the recipient of the Incentive, as a condition to the receipt thereof or to the receipt of shares of
Common Stock issued pursuant thereto, to deliver to the Company a written representation of present intention to acquire the Incentive or the shares of Common Stock issued pursuant thereto for his or her own account for investment and not for
distribution; and (b) if at any time the Company further determines, in its sole discretion, that the listing, registration or 

  
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qualification (or any updating of any such document) of any Incentive or the shares of Common Stock issuable pursuant thereto is necessary on any securities exchange or under any federal or state
securities or blue sky law, or that the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with the award of any Incentive, the issuance of shares of Common Stock pursuant thereto,
or the removal of any restrictions imposed on such shares, such Incentive shall not be awarded or such shares of Common Stock shall not be issued or such restrictions shall not be removed, as the case may be, in whole or in part, unless such
listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Company. 

  

	 	10.6.	Adjustment. In the event of any recapitalization, stock dividend, stock split, combination of shares or other change in the Common Stock, the number of shares of
Common Stock then subject to the Plan, including shares subject to restrictions, options or achievements of performance shares, shall be adjusted in proportion to the change in outstanding shares of Common Stock. In the event of any such
adjustments, the purchase price of any option, the performance objectives of any Incentive, and the shares of Common Stock issuable pursuant to any Incentive shall be adjusted as and to the extent appropriate, in the discretion of the Committee, to
provide participants with the same relative rights before and after such adjustment. 

  

	 	10.7.	Incentive Plans and Agreements. Except in the case of stock awards, the terms of each Incentive shall be stated in a plan or agreement approved by the Committee.
The Committee may also determine to enter into agreements with holders of options to reclassify or convert certain outstanding options, within the terms of the Plan, as Incentive Stock Options or as non-statutory stock options and in order to
eliminate SARs with respect to all or part of such options and any other previously issued options. 

  

	 	10.8.	Withholding. 

  

	 	(a)	The Company shall have the right to withhold from any payments made under the Plan or to collect as a condition of payment, any taxes required by law to be withheld. At
any time when a participant is required to pay to the Company an amount required to be withheld under applicable income tax laws in connection with a distribution of Common Stock or upon exercise of an option or SAR, the participant may satisfy this
obligation in whole or in part by electing (the “Election”) to have the Company withhold from the distribution shares of Common Stock having a value up to the minimum amount of withholding taxes required to be collected on the transaction.
The value of the shares to be withheld shall be based on the Fair Market Value of the Common Stock on the date that the amount of tax to be withheld shall be determined (“Tax Date”). 

 

	 	(b)	Each Election must be made prior to the Tax Date. The Committee may disapprove of any Election, may suspend or terminate the right to make Elections, or may provide
with respect to any Incentive that the right to make Elections shall not apply to such Incentive. An Election is irrevocable. 

  

	 	10.9.	 No Continued Employment, Engagement or Right to Corporate Assets. No participant under the Plan shall have any right, because of his or her
participation, to continue in the employ of 

  
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the Company for any period of time or to any right to continue his or her present or any other rate of compensation. Nothing contained in the Plan shall be construed as giving an employee, a
consultant, such persons’ beneficiaries or any other person any equity or interests of any kind in the assets of the Company or creating a trust of any kind or a fiduciary relationship of any kind between the Company and any such person.

  

	 	10.10.	Deferral Permitted. Payment of cash or distribution of any shares of Common Stock to which a participant is entitled under any Incentive shall be made as
provided in the Incentive. Payment may be deferred at the option of the participant if provided in the Incentive. 

  

	 	10.11.	Amendment of the Plan. The Board may amend or discontinue the Plan at any time. However, no such amendment or discontinuance shall adversely change or impair,
without the consent of the recipient, an Incentive previously granted. Further, no such amendment shall, without approval of the shareholders of the Company, (a) increase the maximum number of shares of Common Stock which may be issued to all
participants under the Plan, (b) change the class of persons eligible to receive Incentives under the Plan, or (c) materially increase the benefits accruing to participants under the Plan. 

 

	 	10.12.	Sale, Merger, Exchange or Liquidation. Unless otherwise provided in the agreement for an Incentive, in the event of an acquisition of the Company through the
sale of substantially all of the Company’s assets or through a merger, exchange, reorganization or liquidation of the Company or a similar event as determined by the Committee (collectively a “transaction”), the Committee shall be
authorized, in its sole discretion, to take any and all action it deems equitable under the circumstances, including but not limited to any one or more of the following: 

 

	 	(1)	providing that the Plan and all Incentives shall terminate and the holders of (i) all outstanding vested options shall receive, in lieu of any shares of Common
Stock they would be entitled to receive under such options, such stock, securities or assets, including cash, as would have been paid to such participants if their options had been exercised and such participant had received Common Stock immediately
prior to such transaction (with appropriate adjustment for the exercise price, if any), (ii) performance shares and/or SARs that entitle the participant to receive Common Stock shall receive, in lieu of any shares of Common Stock each
participant was entitled to receive as of the date of the transaction pursuant to the terms of such Incentive, if any, such stock, securities or assets, including cash, as would have been paid to such participant if such Common Stock had been issued
to and held by the participant immediately prior to such transaction, and (iii) any Incentive under this Agreement which does not entitle the participant to receive Common Stock shall be equitably treated as determined by the Committee.

  

	 	(2)	providing that participants holding outstanding vested Common Stock based Incentives shall receive, with respect to each share of Common Stock issuable pursuant to such
Incentives as of the effective date of any such transaction, at the determination of the Committee, cash, securities or other property, or any combination thereof, in an amount equal to the excess, if any, of the Fair Market Value of such Common
Stock on a date within ten days prior to the effective date of such transaction over the option price or other amount owed by a participant, if any, and that such Incentives shall be cancelled, including the cancellation without consideration of all
options that have an exercise price below the per share value of the consideration received by the Company in the transaction. 

  
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	 	(3)	providing that the Plan (or replacement plan) shall continue with respect to Incentives not cancelled or terminated as of the effective date of such transaction and
provide to participants holding such Incentives the right to earn their respective Incentives on a substantially equivalent basis (taking into account the transaction and the number of shares or other equity issued by such successor entity) with
respect to the equity of the entity succeeding the Company by reason of such transaction. 

  

	 	(4)	providing that all unvested, unearned or restricted Incentives, including but not limited to restricted stock for which restrictions have not lapsed as of the effective
date of such transaction, shall be void and deemed terminated, or, in the alternative, for the acceleration or waiver of any vesting, earning or restrictions on any Incentive. 

The Board may restrict the rights of participants or the applicability of this Section 10.12 to the extent necessary to comply with
Section 16(b) of the Securities Exchange Act of 1934, the Internal Revenue Code or any other applicable law or regulation. The grant of an Incentive award pursuant to the Plan shall not limit in any way the right or power of the Company to make
adjustments, reclassifications, reorganizations or changes of its capital or business structure or to merge, exchange or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 

 

	 	10.13.	Definition of Fair Market Value. For purposes of this Plan, the “Fair Market Value” of a share of Common Stock at a specified date shall, unless
otherwise expressly provided in this Plan, be the amount which the Committee or the Board of Directors determines in good faith to be 100% of the fair market value of such a share as of the date in question; provided, however, that notwithstanding
the foregoing, if such shares are listed on a U.S. securities exchange, then Fair Market Value shall be determined by reference to the last sale price of a share of Common Stock on such U.S. securities exchange on the applicable date. If such U.S.
securities exchange is closed for trading on such date, or if the Common Stock does not trade on such date, then the last sale price used shall be the one on the date the Common Stock last traded on such U.S. securities exchange.

  

	 	10.14.	Prohibition on Repricing. Except in connection with a corporate transaction involving the Company (including, without limitation, any stock dividend, stock
split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of shares), the terms of outstanding Incentives may not be amended to reduce the exercise price of outstanding
Options or SARs or cancel outstanding Options or SARS in exchange for cash, other awards or Options or SARs with an exercise price that is less than the exercise price of the original Options or SARs without shareholder approval.

  

	 	10.15.	 Code Section 409A Provisions. Notwithstanding anything in the Plan or any Incentive agreement to the contrary, to the extent that any
amount or benefit that constitutes “deferred compensation” to a Participant under Section 409A of the Code and applicable guidance thereunder is otherwise payable or distributable to a Participant under the Plan or any Incentive
agreement solely by reason of the occurrence of a change in control or due to the Participant’s disability or separation from service, such amount or benefit will not be payable

  
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or distributable to the Participant by reason of such circumstance unless and until the Committee determines in good faith that (i) the circumstances giving rise to such change in control,
disability or separation from service meet the definition of a change in ownership or control, disability, or separation from service, as the case may be, in Section 409A(a)(2)(A) of the Code and applicable regulations, or (ii) the payment
or distribution of such amount or benefit would be exempt from the application of Section 409A of the Code by reason of the short-term deferral exemption or otherwise. Any payment or distribution that otherwise would be made to a Participant
who is a Specified Employee (as determined under Code Section 409A by the Committee in good faith) on account of separation from service may not be made before the date which is six (6) months after the date of the Specified
Employee’s separation from service (or death, if earlier) unless the payment or distribution is exempt from the application of Section 409A of the Code by reason of the short term deferral exemption or otherwise.Duration. The Plan
shall remain in effect until all Incentives granted under the Plan have either been satisfied by the issuance of shares of Common Stock or the payment of cash or been terminated under the terms of the Plan and all restrictions imposed on shares of
Common Stock in connection with their issuance under the Plan have lapsed. No Incentives may be granted under the Plan after the tenth anniversary of the date the Plan is approved by the stockholders of the Company. 

  
 11Amended and Restated Escrow Agreement

 Exhibit 10.12 
 AMENDED AND RESTATED ESCROW AGREEMENT 
 THIS AMENDED AND RESTATED ESCROW
AGREEMENT (this “Agreement”) is dated this 30th day of June, 2011, by and among Corporate Capital Trust, Inc., a Maryland corporation (the “Company”), UMB Bank, N.A. (the “Escrow Agent”) and CNL
Securities Corp. (the “Managing Dealer”). This Agreement shall be effective as of the effective date of the Company’s registration statement filed with the Securities and Exchange Commission containing the Prospectus (as
defined below) (the “Effective Date”). 
 WHEREAS, the Company proposes to offer and sell, on a best-efforts
basis through the Managing Dealer, in its capacity as the managing dealer, and selected broker-dealers that are registered with the Financial Industry Regulatory Authority or that are exempt from such broker-dealer registration (the Managing Dealer
and such selected broker-dealers are hereinafter referred to collectively as the “Soliciting Dealers”) up to 150,000,000 shares of common stock of the Company (the “Shares”) to investors at an initial offering price
of $10.00 per share (the “Offering”) pursuant to a prospectus as amended from time to time and filed with the Securities and Exchange Commission as part of a registration statement file no. 333-167730 (the
“Prospectus”). 
 WHEREAS, the current form of the Prospectus is attached hereto as Exhibit A and
the Company will provide to the Escrow Agent and the Processing Agent (defined below) a copy of each amendment or supplement to the Prospectus (whereupon such amended or supplemented Prospectus shall be deemed to replace the then-existing
Exhibit A and shall become the “Prospectus” for purposes of this Agreement); 
 WHEREAS, the
Company has agreed that the subscription price paid by subscribers for Shares (without interest) will be refunded in full to such subscribers if subscriptions and payment for an aggregate of at least $2,000,000 in Shares of the Company have not been
received on or before the date that is one year from the Effective Date (the “Outside Date”); 
 WHEREAS, the
Company desires to establish an escrow account as further described herein in which funds received from subscribers will be deposited and the Escrow Agent is willing to serve as escrow agent for such account upon the terms and conditions herein set
forth; 
 WHEREAS, the Escrow Agent has engaged Boston Financial Data Services, Inc. (the “Processing Agent” or
“BFDS”) to receive, examine for “good order” and facilitate subscriptions into the Escrow Account as further described herein and to act as record keeper, maintaining on behalf of the Escrow Agent the ownership records for
the escrow account. 
 WHEREAS, in so acting, BFDS shall be acting solely in the capacity of agent for the Escrow Agent and not
in any capacity on behalf of the Company or the Managing Dealer, nor shall the Company or the Managing Dealer have any interest, other than that provided in this Agreement, in assets in Processing Agent’s possession as the agent of the Escrow
Agent; 
 WHEREAS, in order to subscribe for Shares, a subscriber must deliver an executed subscription agreement in
substantially the form attached as an exhibit to the registration statement encompassing the Prospectus, along with the full amount of its subscription, subject to volume discounts or other discounts, as applicable: (i) by check in U.S. dollars
or (ii) by wire transfer of immediately available funds in U.S. dollars (collectively, the “Subscription Payment”). The Company shall instruct any Soliciting Dealers that any such wire transfers shall be in accordance with the
instructions provided on Exhibit B hereto; 
 WHEREAS, the parties hereto executed an Escrow Agreement dated
March 18, 2011 in substantially the form hereof, however wish to make certain changes to Sections 2, 3, 5(a)(i) and (ii), 8, 14(d), and Exhibits A, B and C; 

 NOW, THEREFORE, in consideration of the premises and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged by the parties, the parties covenant and agree as follows: 
  

	 	1.	Effective Date. This Agreement shall be effective on the Effective Date and the Company shall notify the Processing Agent and the Escrow Agent of the Effective
Date. 

  

	 	2.	Establishment of Escrow Account. On or prior to the commencement of the Offering, the Company shall establish an escrow account with the Escrow Agent, which
escrow account shall be entitled “UMB Bank, N.A., as EA for Corporate Capital Trust, Inc.” or any variation thereof which contains no less than “UMB” and is accompanied by a corresponding subscription agreement (the
“Escrow Account”). All monies deposited in the Escrow Account are hereinafter referred to as the “Escrowed Funds.” The initial escrow period shall commence upon the effectiveness of this Agreement and shall continue
until the earlier of (i) the date upon which the Escrow Agent receives confirmation from the Company that the Company has raised an aggregate of at least $2 million of gross offering proceeds (the “Minimum Proceeds”),
(ii) the Outside Date, or (iii) the termination of the Offering prior to the receipt of the Minimum Proceeds (the “Initial Escrow Period”). The Initial Escrow Period together with the Post Escrow Break Period (as defined
in Section 5(b)) shall collectively be referred to as the “Escrow Period.” The Escrow Account shall not be an interest-bearing account. 

 

	 	3.	Deposits into the Escrow Account and Transmission of Subscription Documents. 

 

	 	(a)	Deposits in Escrow Account. During the Escrow Period, persons subscribing to purchase Shares will be instructed by the Company and the Soliciting Dealers to make
checks for subscriptions payable to the order of “UMB Bank, N.A., as EA for Corporate Capital Trust, Inc.” or any variation thereof which contains no less than “UMB” and is accompanied by a corresponding subscription agreement.
Completed subscription agreements and checks in payment for the purchase price shall be remitted to the address designated for the receipt of such agreements and funds; and, drafts, wires or Automated Clearing House (“ACH”) payments
shall be transmitted directly to the Escrow Account. The Processing Agent will promptly deliver all monies received in good order from subscribers (or from the Managing Dealer or other Soliciting Dealers transmitting monies and subscriptions from
subscribers) for the payment of Shares to the Escrow Agent for deposit in the Escrow Account. Any Subscription Payments received prior to the time, if any, that the Escrowed Funds are deliverable to the Custodian (as defined in Section 5(a)(i))
pursuant to the provisions of Section 5, and that are made payable to a party other than the Escrow Agent, shall be returned to the Soliciting Dealer who submitted the Subscription Payment. All Escrowed Funds shall be held in the Escrow Account
until such funds are disbursed in accordance with Section 5 for the purchase of Shares. Prior to the disbursement of Escrowed Funds, none of the Escrow Agent, the Processing Agent or the Company is entitled to any funds received into the Escrow
Account, and no amounts deposited in the Escrow Account shall become the property of the Company, its affiliates, the Escrow Agent or the Processing Agent, nor be subject to the debts or offsets of the Company, its affiliates, the Escrow Agent, the
Processing Agent or Soliciting Dealers. 

  
 2 

	 	(b)	Subscription Agreements. The Escrow Agent agrees to cause the Processing Agent to maintain a written account of each subscription, which account shall set forth,
among other things, the following information: (i) the subscriber’s name and address, (ii) the number of Shares purchased by such subscriber, and (iii) the subscription amount paid by such subscriber for such Shares.

  

	 	4.	Collection Procedure for Subscription Payments. 

  

	 	(a)	The Escrow Agent is hereby instructed by the Company to forward each Subscription Payment for Federal Reserve Bank clearing and upon collection of the proceeds of each
Subscription Payment, to deposit the collected proceeds into the Escrow Account. 

  

	 	(b)	The Escrow Agent will timely notify the Company and the Processing Agent in writing via mail, email or facsimile of any Subscription Payment returned to the subscriber,
and the Escrow Agent is authorized to debit the Escrow Account in the amount of such returned Subscription Payment and direct the Processing Agent to delete the appropriate account from the records maintained by the Processing Agent.

  

	 	(c)	In the event that the Company or any agent acting on behalf of the Company rejects any subscription for Shares and the funds for such subscription have already been
collected by the Escrow Agent, the Escrow Agent shall, upon receipt from the Company or the Processing Agent of written notice of such rejection, promptly cause the issuance of a refund payment by bank check to the rejected or withdrawing
subscriber. If the Escrow Agent has not yet collected funds for such subscription but has submitted such subscription for clearing, the Escrow Agent shall promptly cause the issuance of a payment by bank check in the amount of such Subscription
Payment to the rejected or withdrawing subscriber only after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted the Subscription Payment relating to the subscription of the rejected or withdrawing subscriber, the
Escrow Agent shall promptly cause such Subscription Payment to be remitted to the drawer of the Subscription Payment submitted by or on behalf of the subscriber. 

 

	 	(d)	In the event that money is deposited into the Escrow Account in error, the Escrow Agent shall notify the Company and the Processing Agent in writing via mail, email or
facsimile of any such error and promptly cause the issuance of a refund payment by bank check to the appropriate party only after the Subscription Payment has cleared. 

 

	 	5.	Distribution of Escrowed Funds. 

  

	 	(a)	Break Escrow – Initial Closing. 

  

	 	(i)	Upon receipt of the Break Escrow Letter (as defined in Section 5(a)(ii) from the Company to the Escrow Agent and the Processing Agent by 3:00 P.M. Eastern Time
that the Company per the prospectus has raised gross offering proceeds of at least $2,000,000 in Shares, and contingent upon the prior day’s notification by the Company to the Escrow Agent and the Processing Agent of the Company’s best
efforts at an estimate of the amount of Escrowed Funds anticipated to be released from the Escrow Account, the Escrow Agent will release such Escrowed Funds that day from the Escrow Account to State Street Bank and Trust Company (the
“Custodian”). 

  
 3 

	 	(ii)	A letter from an officer of the Company to the Processing Agent and the Escrow Agent certifying that gross offering proceeds of a minimum of $2,000,000 in Shares have
been timely subscribed shall constitute sufficient evidence for the purpose of this Agreement that such event has occurred (the “Break Escrow Letter”). The current form of the Break Escrow Letter is attached hereto as Exhibit
C. The Break Escrow Letter shall indicate (i) the date on which gross offering proceeds exceeded $2,000,000 in Shares (the “Break Escrow Date”) and (ii) the wire amount, in U.S. dollars, which represents the amount
of subscriptions determined to be in good and proper order “Good Order Funds”). 

  

	 	(iii)	If the Escrow Agent has not received a Break Escrow Letter on or prior to the Outside Date, the Escrow Agent shall cause the Escrowed Funds to be returned to the
respective subscribers in amounts equal to the subscription amount theretofore paid by each of them, without interest and without deduction, penalty or expense to the subscriber. The Escrow Agent shall notify the Processing Agent, the Company and
the Managing Dealer of any such return of subscription amounts. The purchase money returned to each subscriber shall be free and clear of any and all claims of the Company, the Processing Agent, the Escrow Agent, the Soliciting Dealers or any of
their creditors. 

  

	 	(b)	Post Escrow Break Period. From and after the Break Escrow Date (the “Post Escrow Break Period”), the Escrow Agent shall periodically transfer to
the Custodian Escrowed Funds pursuant to standing instructions from the Company as agreed among the Company, the Escrow Agent and the Processing Agent from time to time. 

 

	 	(c)	The Company hereby directs the Escrow Agent to provide the Processing Agent with all electronic files and information needed by the Processing Agent to maintain
ownership records for the Company’s common stock. 

  

	 	6.	Liability of Escrow Agent and Processing Agent. 

  

	 	(a)	In performing any of their respective duties under this Agreement, or upon the claimed failure to perform their respective duties hereunder, the Escrow Agent and the
Processing Agent shall not be liable to anyone for any damages, losses, or expenses that either may incur as a result of either so acting, or failing to act; provided, however, the Escrow Agent shall be liable for damages, losses, and expenses,
including, without limitation, reasonable costs of investigation and counsel fees and disbursements that may be incurred by the Company arising out of its or the Processing Agent’s negligence, willful default or misconduct under this
Agreement. Accordingly, neither the Processing Agent nor the Escrow Agent shall incur any liability with respect to (i) any action taken or omitted to be taken in good faith upon advice of its counsel that is given with respect to any
questions relating to their duties and responsibilities hereunder, or (ii) any action taken or omitted to be taken in reliance upon any document, including any written notice or instructions provided for in this Agreement, not only as to its
due execution and to the validity and effectiveness of its provisions but also as to the truth and accuracy of any information contained therein, if the Processing Agent and/or the Escrow Agent shall believe such document to be genuine.

  
 4 

	 	(b)	The Company hereby agrees to indemnify and hold harmless the Escrow Agent and the Processing Agent (each, an “Indemnitee”) from and against any and all
losses, claims, damages, liabilities and expenses, including, without limitation, reasonable costs of investigation and counsel fees and disbursements, that may be incurred by either of them resulting from any act or omission of the Company;
provided, however, that the Company shall not indemnify either Indemnitee for any such losses, claims, damages, or expenses arising out of such Indemnitee’s negligence, willful default or misconduct. 

 

	 	(c)	If any dispute ensues between or among the parties hereto that, in the opinion of the Escrow Agent, is sufficient to justify its doing so, the Escrow Agent shall be
entitled to tender into the registry or custody of any court of competent jurisdiction, all money or property in its hands under the terms of this Agreement, and to file such legal proceedings as it deems appropriate, and shall thereupon be
discharged from all further duties under this Agreement. Any such legal proceedings may be brought in any such court as the Escrow Agent shall determine has jurisdiction. The Company shall indemnify the Escrow Agent or Processing Agent against their
reasonable court costs and attorneys’ fees incurred in filing such legal proceedings. 

  

	 	7.	Inability to Deliver. In the event that any Subscription Payments for subscriptions are not cleared through normal banking channels according to the regular
Federal Reserve Bank clearing schedule, the Escrow Agent will cause the Processing Agent promptly to notify the Company of such event. 

  

	 	8.	Notice. All notices, requests, demands and other communications or deliveries required or permitted to be given hereunder shall be in writing and shall be deemed
to have been duly given if delivered personally, given by facsimile confirmed by telephone call or deposited for mailing, first class, postage prepaid, registered or certified mail, as follows: 

 

			
	If to the subscribers for Shares:	  	To their respective addresses as specified in their subscription agreements.
		
	If to the Company:	  	Corporate Capital Trust, Inc.
		  	450 South Orange Avenue
		  	Orlando, Florida 32801
		  	Attention: Andrew A. Hyltin, President
		  	Copy to: General Counsel
		  	Facsimile: (407) 540-7653
		
	If to the Escrow Agent:	  	UMB Bank, N.A.
		  	1010 Grand Blvd., 4th Floor
		  	Mail Stop: 1020409
		  	Kansas City, Missouri 64106
		  	Attention: Lara L. Stevens, Corporate Trust
		  	Facsimile: (816) 860-3029
		
	If to the Processing Agent:	  	Boston Financial Data Services, Inc.
		  	30 Dan Road
		  	Suite 8562
		  	Canton, MA 02021
		  	Attention: Reconciliation and Control
		  	Facsimile: (781) 633-5271

  
 5 

			
	If to the Managing Dealer:	  	CNL Securities Corp.
		  	CNL Center at City Commons
		  	450 South Orange Avenue
		  	Orlando, Florida 32801
		  	Attention: Corporate Counsel
		  	Facsimile: (407) 423-2894

  

	 	9.	Fees to Escrow Agent. In consideration of the services to be provided by the Escrow Agent hereunder, the Company agrees to pay the fees to the Escrow Agent as
outlined in Schedule I hereto. 

  

	 	10.	Third Party Beneficiaries. The Processing Agent shall be a third party beneficiary under this Agreement, entitled to enforce any rights, duties or obligations
owed to it under this Agreement notwithstanding the terms of any other agreements between the Processing Agent and any party hereto. 

  

	 	11.	Termination of the Escrow Agreement. This Agreement, except for Sections 6, 14 and this Section 11, which shall continue in effect, shall terminate upon
written notice from the Company to the Escrow Agent. Unless otherwise provided, final termination of this Agreement shall occur on the date that all funds held in the Escrow Account are distributed either (a) to the Custodian or to subscribers
and the Company has informed the Escrow Agent in writing to close the Escrow Account or (b) to a successor escrow agent upon written instructions from the Company. 

 

	 	12.	Patriot Act Compliance; OFAC Search Duties. The Company shall provide to Escrow Agent upon the execution of this Agreement any documentation requested and any
information reasonably requested by the Escrow Agent to comply with the USA Patriot Act of 2001, as amended from time to time. The Escrow Agent, or its agent, shall complete an OFAC search, in compliance with its policy and procedures, of each
subscription check and shall inform the Company if a subscription check fails the OFAC search. 

  

	 	13.	Confidentiality. 

  

	 	(a)	The Company, the Managing Dealer and the Escrow Agent each agree to have in place and adhere to a commercially reasonable program of customer privacy in compliance with
applicable laws and industry best practices designed to assure the confidentiality and security of confidential investor information, as required by Regulation S-P and other applicable laws. The Escrow Agent will promptly notify the Company of
any breaches of security or loss of confidential customer information in respect of investors in the Company.

  

	 	(b)	The Escrow Agent and Processing Agent shall keep strictly confidential all information sent to it unless such material is required to be disclosed pursuant to any
applicable law, regulation, judicial or administrative order, decree or subpoena, or request by a regulatory organization having authority pursuant to the law. 

  
 6 

	 	14.	General. 

  

	 	(a)	This Agreement shall be interpreted, construed and enforced in all respects in accordance with the internal laws of the State of Maryland applicable to contracts to be
made and performed entirely in said state. 

  

	 	(b)	The section headings contained herein are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement.

  

	 	(c)	This Agreement sets forth the entire agreement and understanding of the parties with regard to this escrow transaction and supersedes all prior agreements, arrangements
and understandings relating to the subject matter hereof. 

  

	 	(d)	This Agreement may be amended, modified, superseded or cancelled, and any of the terms or conditions hereof may be waived, only by a written instrument executed by each
party hereto or, in the case of a waiver, by the party waiving compliance. Notwithstanding the foregoing, Exhibits B and C attached hereto may be modified without such written instrument. Rather, they may be amended through the mutual agreement of
all parties hereto as expressed via written fax or email. The failure of any party at any time or times to require performance of any provision hereof shall in no manner affect the right at a later time to enforce the same. No waiver in any one or
more instances by any party of any condition, or of the breach of any term contained in this Agreement, whether by conduct or otherwise, shall be deemed to be, or construed as, a further or continuing waiver of any such condition or breach, or a
waiver of any other condition or of the breach of any other terms of this Agreement. 

  

	 	(e)	This Agreement may be executed simultaneously 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. Copies, telecopies, facsimiles, electronic files and other reproductions of original executed documents shall be deemed to be authentic and valid counterparts of such original documents for all purposes, including the filing of
any claim, action, or suit in the appropriate court of law. 

  

	 	(f)	The Escrow Agent may rely conclusively on and shall not be required to make any independent inspection or investigation in connection therewith any electronic
communication, resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, affidavit, letter, telegram or paper or other document received by it, provided for under this Agreement.

  

	 	(g)	The Escrow Agent shall not assign (voluntarily, by operation of law or otherwise) this Agreement or any right, interest or benefit under this Agreement without the
prior written consent of the other parties hereto. Subject to the foregoing, this Agreement shall be fully binding upon, inure to the benefit of, and be enforceable by, the parties hereto and their respective successors and permitted assigns.

  

	 	(h)	If any one or more of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect by a court of
competent jurisdiction, then to the maximum extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement. 

  
 7 

	 	(i)	This Agreement shall not be construed against the party preparing it and shall be construed as if all parties had jointly prepared this Agreement and it shall be deemed
their joint work product. As a result, any rule of construction that a document is to be construed against the drafting party shall not be applicable. 

  

	 	15.	Representation of the Company. The Company hereby acknowledges that the status of the Processing Agent and the Escrow Agent with respect to the offering of the
Shares is that of agent solely of the Company only for the limited purposes herein set forth, and hereby agrees it will not represent or imply that the Escrow Agent or Processing Agent, by serving as the Escrow Agent or Processing Agent hereunder or
otherwise, has investigated the desirability or advisability of an investment in the Shares, or has approved, endorsed or passed upon the merits of the Shares, nor shall the Company use the name of the Escrow Agent or Processing Agent in any manner
whatsoever in connection with the offer or sale of the Shares, other than by acknowledgement that it has agreed to serve as Escrow Agent or Processing Agent for the limited purposes herein set forth. 

 

	 	16.	Resignation of Escrow Agent or Processing Agent. If, at any time, any attempt is made to modify this Agreement in a manner that would increase the duties and
responsibilities of the Escrow Agent, or to modify the Agreement in any manner that the Escrow Agent shall deem undesirable, the Escrow Agent may resign by notifying the Company. Such resignation shall become effective on the earlier to occur of
(i) the acceptance by a successor Escrow Agent or (ii) sixty (60) days following the date upon which notice was mailed. Until such time as the Escrow Agent has resigned in accordance herewith, the Escrow Agent shall perform its duties
hereunder in accordance with the terms of this Agreement. 

  

	 	17.	Force Majeure. No party hereto shall be responsible for any failure or delay in the performance of its obligations under this Agreement arising out of or caused,
directly or indirectly, by circumstances beyond such party’s reasonable control, including without limitation, acts of God, earthquakes, fires, floods, wars, civil or military disturbances, sabotage, epidemics, riots, interruptions, loss or
malfunctions of utilities, communication service, accidents, labor disputes, acts of civil or military authority, or governmental actions. 

 (Signature Page follows) 

  
 8 

 IN WITNESS WHEREOF, the parties have duly executed this Amended and Restated Escrow
Agreement as of the date first above written. 
  

			
	CORPORATE CAPITAL TRUST, INC.
		
	By:	 	 /s/ Paul S. Saint-Pierre

	Name:	 	Paul S. Saint-Pierre
	Title:	 	Chief Financial Officer

  

			
	 UMB BANK, N.A.

		
	By:	 	 /s/ Doug Hare

	Name:	 	Doug Hare
	Title:	 	Vice President

  

			
	CNL SECURITIES CORP.
		
	By:	 	 /s/ Nathan P. Headrick

	Name:	 	Nathan P. Headrick
	Title:	 	Corporate Counsel

  
 9

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