Document:

EXHIBIT 10.1

  
 EXHIBIT 10.1
 Weyland Tech  Inc. and Info Zone Development Limited
 SOFTWARE LICENSE AGREEMENT
 January 19, 2016
 

 

 Weyland Tech Inc., a Delaware corporation, ( “ Weyland Tech ” ) and Info Zone Development Limited, a corporation organized and existing under the laws of HKSAR Hong Kong ( “ Info Zone” ) have agreed to establish this SOFTWARE LICENSE AGREEMENT in order to provide Info Zone with exclusive rights to deploy, utilize, and market Weyland Tech's CreateApp platform (hereinafter "the Technology").  
 

 Weyland Tech owns and/or has rights to certain computer software programs, known collectively as the CreateApp Platform ( “ the Technology ” ) that are useful in creating, managing and coordinating e-commerce channels and transactions.
 

 

 1.     SCOPE OF LICENSE
 

          1.1 LICENSE GRANT.  License to Weyland Tech ’ s Technology: Weyland Tech grants Info Zone a ten (10) year Sole and Exclusive License, with a five (5) year option to deploy, utilize, market and sell the CreateApp platform.  Info Zone will remain the only source that can sell the Technology in Hong Kong and the People's Republic of China during this exclusive license.
 

          1.2 TERRITORY.  The Territory of the license shall be Hong Kong and the People's Republic of China.
 

          1.3 ASSIGNMENT. Info Zone will not have the right to assign the License to any other party.
 

 2.     APPOINTMENT AS SOLE AND EXCLUSIVE LICENSEE 
 

          2.1 APPOINTMENT.  Weyland Tech hereby appoints Info Zone effective during the License Term, as Weyland Tech's distributor of the Technology for use in Hong Kong and the People's Republic of China . The appointment shall be for a Sole and Exclusive License.
 

          2.2 LICENSE FEES AND REQUIREMENTS.  In return for the Sole and Exclusive License granted above, Info Zone agrees to provide the following to Weyland Tech:
 

 (a) A one time, up-front License Fee of US$10,000 to Weyland Tech, payable upon signing of the SOFTWARE LICENSE AGREEMENT.
 

 
 

 (b) In addition to the above fees, Info Zone will pay Weyland Tech a 12.5% transaction fee on the gross commercial sales of all goods and services sold through the CreateApp platform deployed by Info Zone in Hong Kong and the People's Republic of China .
 

 

 3.       MARKETING AND SUPPORT OBLIGATIONS
 

          3.1 Info Zone MARKETING AND SALES EFFORTS. Info Zone shall use best efforts to promote and market the Technology in order to maximize the licensing and distribution of the Technology. Such marketing efforts shall include, without limitation: establishment of a marketing and sales team dedicated exclusively to promoting and distributing the Technology; advertising the Technology in a commercially appropriate and reasonable manner; and promoting the Technology at seminars, trade shows and conferences. Info Zone agrees further that its marketing and advertising efforts with respect to the Technology will be of the highest quality, and shall preserve the professional image and reputation of Weyland Tech and the Technology.
 

 

 4.       PREPARATION OF LOCALIZED VERSIONS
 

          4.1 PREPARATION OF LOCALIZED VERSIONS. Info Zone shall be responsible for utilizing the Localization Source Code to prepare Localized Versions of the Technology and of any new version thereof in accordance with a schedule to be agreed upon for each such new version.
 

          4.2 RESPONSIBILITY FOR QUALITY ASSURANCE. Info Zone shall have exclusive responsibility for the development, packaging and quality assurance of Localized Versions.
 

 

 5.       INSTALLATION, TRAINING, TECHNICAL SUPPORT AND MAINTENANCE
 

          5.1 INSTALLATION AND TRAINING. Info Zone shall be responsible for conducting all activities required to install the Technology at Retailers and Suppliers and for providing training to the Retailers and Suppliers. Info Zone shall also conduct the training related activities for such Retailers and Suppliers, at such Retailers and Suppliers' request, and charge a reasonable fee to such Retailers and Suppliers for such training. All such installation and training shall be conducted with the highest level of professionalism and quality.
 

          5.2 TECHNICAL SUPPORT AND MAINTENANCE. Info Zone shall be responsible for providing Technical Support with respect to technical questions, support problems, and Error 
 

 
 evaluation and correction to all Retailers and Suppliers of the Technology who have entered into the Software Maintenance Agreement with Info Zone.
 

          5.3 SOFTWARE MAINTENANCE AND SUPPORT SERVICES. Software Maintenance and Support Services shall be provided under Info Zone's Software Maintenance and Support Services policies in effect on the date the Software Maintenance and Support Services is ordered. Info Zone is hereby authorized to distribute any and all Error corrections and Updates to all of its Retailers and Suppliers customers and sub-licensees.
 

 6.       WARRANTIES
 

          6.1 Info Zone WARRANTY. Info Zone warrants that it maintains the facilities, resources and experienced personnel necessary to market and distribute Technology and to perform the necessary installation, training and maintenance services related to such Technology and otherwise to fulfill its obligations under this Agreement and that it is not precluded by any existing arrangement, contractual or otherwise, from entering into this Agreement.
 

          6.2 WEYLAND TECH  FINANCIAL INDEMNITY. Info Zone will indemnify Weyland Tech for, and hold Weyland Tech harmless from, any loss, expense, damages, claims, demands, or liability arising from any claim, suit, action or demand resulting from: (a) the negligence, error, omission or willful misconduct of Info Zone or its representatives or sub-licensees; (b) the breach of any terms of this Agreement; or (c) Info Zone's non- compliance with applicable laws and regulations.
 

          6.3 WEYLAND TECH  WARRANTY. Weyland Tech warrants and covenants that it has and will during the License Term take all actions reasonably necessary and appropriate to maintain the right to grant Info Zone to use, reproduce, or sublicense the Technology under this Agreement.
 

 

 7.       COVENANTS AND RESTRICTIONS REGARDING THE TECHNOLOGY
 

          7.1 PROHIBITION ON DECOMPILING. Info Zone acknowledges that the Technology contains the valuable information of Weyland Tech and Info Zone agrees not to cause or permit the modification, reverse engineering, translation, disassembly, or decompilation of, or otherwise to attempt to derive the source code of the Technology, whether in whole or in part.
 

          7.2 PROPRIETARY NOTICES. In order to protect Weyland Tech's copyright and other ownership interests in the Technology, Info Zone agrees that as a condition of its rights hereunder, each copy of the Technology and related documentation reproduced by or on behalf of Info Zone shall contain the same proprietary notices on the media, within the code and on the Documentation which appear on the media or within the code of the Technology or on the Documentation delivered by Weyland Tech to Info Zone.
 

 
 

 

 8.       SOURCE CODE.
 

          8.1 SOURCE CODE TRANSFER. Weyland Tech has placed, or will place within thirty (30) days of the commencement of the License Term, documented and working order copies of the source code of the User Programs and Server Programs under the control of Info Zone.
 

          8.2 PROTECTION OF SOURCE CODE. Info Zone will protect the Technology source code with the same care and using the precautions which it uses to protect its own source code. Info Zone will limit access to the Technology source code to its employees with a need to know which have agreed in writing to maintain the confidentiality of such source code.
 

 

 9.       OWNERSHIP AND PROPRIETARY RIGHTS.
 

          9.1 OWNERSHIP. Weyland Tech shall retain all title, copyright and other proprietary rights in and to the Technology. Info Zone does not acquire any rights, express or implied, in the Technology, other than those specified in this Agreement. In the event that Info Zone makes suggestions to Weyland Tech regarding new features, functionality or performance that Info Zone adopts for the Technology, such new features, functionality or performance shall become the sole and exclusive property of Info Zone.
 

          9.2 ASSIGNMENT OF RIGHTS IN LOCALIZATIONS. Weyland Tech hereby assigns to Info Zone any and all right and title, including without limitation copyright, it may have in Localized Versions of the Technology, the Documentation, on-line help and the Training Materials as prepared by Info Zone hereunder, including but not limited to any previous work performed by Info Zone.
 

          9.3 Info Zone'S RIGHTS IN FUTURE DEVELOPMENT WORKS. Weyland Tech agrees and hereby assigns all right, title and interest in any derivative works including enhancements, new software modules or product options (collectively such future versions of the Technology and any derivative works including enhancements, new software modules or product options shall be referred to as "Future Development Work(s)").
 

 

 10.       MISCELLANEOUS.
 

          10.1 GOVERNING LAW. This Agreement shall be governed in all respects by the laws of HKSAR Hong Kong. This Agreement is prepared and executed in the English language only and any translation of this Agreement into any other language shall have no effect.
 

 

 
          10.2 ATTORNEYS FEES. In the event any proceeding or lawsuit is brought by Weyland Tech or Info Zone in connection with this Agreement, the prevailing party in such proceeding shall be entitled to receive its costs, expert witness fees and reasonable attorneys' fees, including costs and fees on appeal.
 

          10.3 ARBITRATION. Choice of Forum and Venue. Each party to this Agreement shall have the right to have recourse to and shall be bound by the pre-arbitral referee procedure of the International Chamber of Commerce in accordance with its Rules for a Pre-Arbitral Referee Procedure.  All disputes arising out of or in connection with this Agreement shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one arbitrator appointed in accordance with the said Rules.  The parties further agree that the language to be used for any pre-arbitral referee procedures and for the arbitration will be English, and that the Parties shall mutually agree as to the location where any of the foregoing proceedings shall take place.  Notwithstanding any other provision of this Agreement, either party shall be entitled to seek injunctive or other provisional relief from any court of competent jurisdiction at any time prior to, during or after any pre-arbitral referee procedure or arbitration proceeding initiated under this Section 10.
 

 

 WEYLAND TECH  INC.
 

 _____________________
 

 

 Info Zone  Development Limited
 

 _____________________
 /s/ Brent Y Suen, CEO - Weyland Tech Inc.
 /s/ Kan Kok Wai, Director - Info Zone  Development LimitedTHIRD AMENDED AND RESTATED INVESTMENT
ADVISORY AGREEMENT

 

BETWEEN

 

FIFTH STREET FINANCE CORP.

 

AND

 

FIFTH STREET MANAGEMENT LLC

 

This Third Amended and Restated Investment
Advisory Agreement (this “Agreement”) made this 19th day of January 2016, by and between FIFTH STREET
FINANCE CORP., a Delaware corporation (the “Company”), and FIFTH STREET MANAGEMENT LLC, a Delaware limited
liability company (the “Adviser”).

 

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

 

WHEREAS, the Adviser is organized as an
investment adviser that is registered under the Investment Advisers Act of 1940, as amended (the “Advisers Act”);
and

 

WHEREAS, the Company and the Adviser entered
into an investment advisory agreement, dated December 14, 2007 (the “Original Advisory Agreement”);

 

WHEREAS, the Company and the Adviser entered
into an amended and restated investment advisory agreement, dated April 30, 2008 (the “First Amended and Restated Advisory
Agreement”), which amended and restated in its entirety the Original Advisory Agreement; and

 

WHEREAS, the Company and the Adviser entered
into an amended and restated investment advisory agreement, dated May 2, 2011 (the “Second Amended and Restated Advisory
Agreement”), which amended and restated in its entirety the First Amended and Restated Advisory Agreement; and

 

WHEREAS, the Company and the Adviser further
desire to amend and restate in its entirety the Second Amended and Restated Advisory Agreement to reflect, among other things,
a revision to the Base Management Fee (as defined below).

 

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

 

		1.	Duties of the Adviser.

 

(a)               
The Company hereby employs the Adviser to act as the investment adviser to the Company and to manage the investment and
reinvestment of the assets of the Company, subject to the supervision of the Board of Directors of the Company, (the “Board”)
for the period and upon the terms herein set forth, (i) in accordance with the investment objective, policies and restrictions
that are set forth in the reports and/or registration statements that the Company files with the Securities and Exchange Commission
(the “SEC”) from time to time; (ii) during the term of this Agreement in accordance with all other applicable
federal and state laws, rules and regulations, and the Company’s charter and by-laws; and (iii) in accordance with the Investment
Company Act. Without limiting the generality of the foregoing, the Adviser shall, during the term and subject to the provisions
of this Agreement (A) determine the composition of the portfolio of the Company, the nature and timing of the changes therein and
the manner of implementing such changes; (B) identify, evaluate and negotiate the structure of the investments made by the Company;
(C) close, monitor and service the Company’s investments; (D) determine the securities and other assets that the Company
shall purchase, retain, or sell; (E) perform due diligence on prospective portfolio companies; and (F) provide the Company with
such other investment advisory, research and related services as the Company may, from time to time, reasonably require for the
investment of its funds. The Adviser shall have the power and authority on behalf of the Company to effectuate its investment decisions
for the Company, including the execution and delivery of all documents relating to the Company’s investments and the placing
of orders for other purchase or sale transactions on behalf of the Company. In the event that the Company determines to obtain
debt financing, the Adviser shall arrange for such financing on the Company’s behalf, subject to the oversight and approval
of the Board.

     

     

    

 

 

(b)              
The Adviser hereby accepts such employment and agrees during the term hereof to render the services described herein for
the compensation provided herein.

 

(c)               
The Adviser is hereby authorized to enter into one or more sub-advisory agreements with other investment advisers (each,
a “Sub-Adviser”) pursuant to which the Adviser may obtain the services of the Sub-Adviser(s) to assist
the Adviser in fulfilling its responsibilities hereunder. Specifically, the Adviser may retain a Sub-Adviser to recommend specific
securities or other investments based upon the Company’s investment objective and policies, and work, along with the Adviser,
in structuring, negotiating, arranging or effecting the acquisition or disposition of such investments and monitoring investments
on behalf of the Company, subject to the oversight of the Adviser and the Company. The Adviser and not the Company shall be responsible
for any compensation payable to any Sub-Adviser. Any sub-advisory agreement entered into by the Adviser shall be in accordance
with the requirements of the Investment Company Act and other applicable federal and state law.

 

(d)              
The Adviser shall, for all purposes herein provided, be deemed to be an independent contractor and, except as expressly
provided or authorized herein, shall have no authority to act for or represent the Company in any way or otherwise be deemed an
agent of the Company.

 

(e)               
Subject to review by and the overall control of the Board, the Adviser shall keep and preserve for the period required by
the Investment Company Act any books and records relevant to the provision of its investment advisory services to the Company and
shall specifically maintain all books and records with respect to the Company’s portfolio transactions and shall render to
the Board such periodic and special reports as the Board may reasonably request. The Adviser agrees that all records that it maintains
for the Company are the property of the Company and shall surrender promptly to the Company any such records upon the Company’s
request, provided that the Adviser may retain a copy of such records.

    	 	2	 

     

    

 

 

		2.	Company’s Responsibilities and Expenses Payable by the Company.

 

All personnel of the Adviser, when and to
the extent engaged in providing investment advisory services hereunder, and the compensation and routine overhead expenses of such
personnel allocable to such services, shall be provided and paid for by the Adviser and not by the Company. The Company shall bear
all other costs and expenses of its operations and transactions, including (without limitation) fees and expenses relating to:
organizational and offering expenses; the investigation and monitoring of the Company’s investments; the cost of calculating
the Company’s net asset value; the cost of effecting sales and repurchases of shares of the Company’s common stock
and other securities; management and incentive fees payable pursuant to this Agreement; fees payable to third parties relating
to, or associated with, making investments and valuing investments (including third-party valuation firms); transfer agent and
custodial fees; fees and expenses associated with marketing efforts (including attendance at investment conferences and similar
events); federal and state registration fees; any exchange listing fees; federal, state and local taxes; independent directors’
fees and expenses; brokerage commissions; costs of proxy statements, stockholders’ reports and notices; costs of preparing
government filings, including periodic and current reports with the SEC; fidelity bond, liability insurance and other insurance
premiums; and printing, mailing, independent accountants and outside legal costs and all other direct expenses incurred by either
the Company’s administrator, currently FSC CT, LLC, or the Company in connection with administering the Company’s business,
including payments under the Company’s administration agreement with its administrator (as in effect from time to time, the
“Adminstration Agreement”) that are based upon the Company’s allocable portion of overhead and other
expenses incurred by the Company’s administrator in performing its obligations under the Administration Agreement and the
compensation of the Company’s chief financial officer and chief compliance officer, and their respective staffs.

 

		3.	Compensation of the Adviser.

 

The Company agrees to pay, and the Adviser
agrees to accept, as compensation for the services provided by the Adviser hereunder, a base management fee (“Base
Management Fee”) and an incentive fee (“Incentive Fee”) as hereinafter set forth. The Adviser
may agree to temporarily or permanently waive, in whole or in part, the Base Management Fee and/or the Incentive Fee. See Appendix
A for examples of how these fees are calculated.

 

(a)            Effective as of January 1, 2016, the Base Management Fee shall be calculated at an annual rate of 1.75% of the Company’s
gross assets, excluding any cash and cash equivalents. For purposes of this Agreement, the term “cash and cash equivalents”
will have the meaning ascribed to it from time to time in the notes to the financial statements that the Company files with the
SEC. The Base Management Fee shall be payable quarterly in arrears, and shall be calculated based on the value of the Company’s
gross assets at the end of each fiscal quarter, and appropriately adjusted for any equity capital raises or repurchases during
such quarter. The Base Management Fee for any partial month or quarter shall be appropriately prorated.

 

(b)           The
Incentive Fee shall consist of two parts, as follows:

 

		(i)	The first part shall be calculated and payable quarterly in arrears based on the Company’s ‘‘Pre-Incentive
Fee Net Investment Income’’ for the immediately preceding fiscal quarter. For this purpose, ‘‘Pre-Incentive
Fee Net Investment Income’’ means interest income, dividend income and any other income (including any other fees (other
than fees for providing managerial assistance), such as commitment, origination, structuring, diligence and consulting fees or
other fees that the Company receives from portfolio companies) accrued during the fiscal quarter, minus the Company’s operating
expenses for the quarter (including the Base Management Fee, expenses payable under the Administration Agreement, and any interest
expense and dividends paid on any issued and outstanding preferred stock, but excluding the Incentive Fee). Pre-Incentive Fee Net
Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount, debt
instruments with payment-in-kind interest and zero coupon securities), accrued income that the Company has not yet received in
cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized
capital appreciation or depreciation. Pre-Incentive Fee Net Investment Income, expressed as a rate of return on the value of the
Company’s net assets at the end of the immediately preceding fiscal quarter, shall be compared to a ‘‘hurdle
rate’’ of 2% per quarter (8% annualized), subject to a ‘‘catch-up’’ provision measured as of
the end of each fiscal quarter. The Company’s net investment income used to calculate this part of the incentive fee is also
included in the amount of the Company’s gross assets used to calculate the 1.75% base management fee. The operation of the incentive
fee with respect to the Company’s Pre-Incentive Fee Net Investment Income for each quarter is as follows:

    	 	3	 

     

    

 

 

		·	No incentive fee is payable to the Adviser in any fiscal quarter in which the Company’s Pre-Incentive Fee Net Investment
Income does not exceed the hurdle rate of 2% (the ‘‘preferred return’’ or ‘‘hurdle’’).

 

		·	100% of the Company’s Pre-Incentive Fee Net Investment Income with respect to that portion of such Pre-Incentive Fee
Net Investment Income, if any, that exceeds the hurdle rate but is less than or equal to 2.5% in any fiscal quarter (10% annualized)
is payable to the Adviser. The Company refers to this portion of the Company’s Pre-Incentive Fee Net Investment Income (which
exceeds the hurdle rate but is less than or equal to 2.5%) as the ‘‘catch-up.’’ The ‘‘catch-up’’
provision is intended to provide the Adviser with an incentive fee of 20% on all of the Company’s Pre-Incentive Fee Net Investment
Income as if a hurdle rate did not apply when the Company’s Pre-Incentive Fee Net Investment Income exceeds 2.5% in any fiscal
quarter; and

 

		·	20% of the amount of the Company’s Pre-Incentive Fee Net Investment Income, if any, that exceeds 2.5% in any fiscal quarter
(10% annualized) is payable to the Adviser once the hurdle is reached and the catch-up is achieved, (20% of all Pre-Incentive Fee
Net Investment Income thereafter is allocated to the Adviser).

 

    	 	4	 

     

    

 

 

		(ii)	The second part of the incentive fee shall be determined and payable in arrears as of the end of each fiscal year (or upon
termination of the investment advisory agreement, as of the termination date), and shall equal 20% of the Company’s realized
capital gains, if any, on a cumulative basis from inception through the end of each fiscal year, computed net of all realized capital
losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gain
incentive fees.

 

		4.	Covenants of the Adviser.

 

The Adviser covenants that it will maintain
its registration as an investment adviser under the Advisers Act. The Adviser agrees that its activities will at all times be in
compliance in all material respects with all applicable federal and state laws governing its operations and investments.

 

		5.	Brokerage Commissions.

 

The Adviser is hereby authorized, to the
fullest extent now or hereafter permitted by law, to cause the Company to pay a member of a national securities exchange, broker
or dealer an amount of commission for effecting a securities transaction in excess of the amount of commission another member of
such exchange, broker or dealer would have charged for effecting that transaction, if the Adviser determines in good faith, taking
into account such factors as price (including the applicable brokerage commission or dealer spread), size of order, difficulty
of execution, and operational facilities of the firm and the firm’s risk and skill in positioning blocks of securities, that
such amount of commission is reasonable in relation to the value of the brokerage and/or research services provided by such member,
broker or dealer, viewed in terms of either that particular transaction or its overall responsibilities with respect to the Company’s
portfolio, and constitutes the best net results for the Company.

 

		6.	Other Activities of the Adviser.

 

The services of the Adviser to the Company
are not exclusive, and the Adviser may engage in any other business or render similar or different services to others including,
without limitation, the direct or indirect sponsorship or management of other investment based accounts or commingled pools of
capital, however structured, having investment objectives similar to those of the Company, so long as its services to the Company
hereunder are not impaired thereby, and nothing in this Agreement shall limit or restrict the right of any manager, partner, member
(including its members and the owners of its members), officer or employee of the Adviser to engage in any other business or to
devote his or her time and attention in part to any other business, whether of a similar or dissimilar nature, or to receive any
fees or compensation in connection therewith (including fees for serving as a director of, or providing consulting services to,
one or more of the Company’s portfolio companies, subject to applicable law). So long as this Agreement or any extension,
renewal or amendment remains in effect, the Adviser shall be the only investment adviser for the Company, subject to the Adviser’s
right to enter into sub-advisory agreements. The Adviser assumes no responsibility under this Agreement other than to render the
services called for hereunder. It is understood that directors, officers, employees and stockholders of the Company are or may
become interested in the Adviser and its affiliates, as directors, officers, employees, partners, stockholders, members, managers
or otherwise, and that the Adviser and directors, officers, employees, partners, stockholders, members and managers of the Adviser
and its affiliates are or may become similarly interested in the Company as stockholders or otherwise.

 

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		7.	Responsibility of Dual Directors, Officers and/or Employees.

 

If any person who is a manager, partner,
member, officer or employee of the Adviser is or becomes a director, officer and/or employee of the Company and acts as such in
any business of the Company, then such manager, partner, member, officer and/or employee of the Adviser shall be deemed to be acting
in such capacity solely for the Company, and not as a manager, partner, member, officer or employee of the Adviser or under the
control or direction of the Adviser, even if paid by the Adviser.

 

		8.	Limitation of Liability of the Adviser; Indemnification.

 

The Adviser (and its officers, managers,
partners, members (and their members, including the owners of their members), agents, employees, controlling persons and any other
person or entity affiliated with the Adviser) shall not be liable to the Company for any action taken or omitted to be taken by
the Adviser in connection with the performance of any of its duties or obligations under this Agreement or otherwise as an investment
adviser of the Company (except to the extent specified in Section 36(b) of the Investment Company Act concerning loss resulting
from a breach of fiduciary duty (as the same is finally determined by judicial proceedings) with respect to the receipt of compensation
for services, and the Company shall indemnify, defend and protect the Adviser (and its officers, managers, partners, members (and
their members, including the owners of their members), agents, employees, controlling persons and any other person or entity affiliated
with the Adviser, each of whom shall be deemed a third party beneficiary hereof) (collectively, the “Indemnified Parties”)
and hold them harmless from and against all damages, liabilities, costs and expenses (including reasonable attorneys’ fees
and amounts reasonably paid in settlement) incurred by the Indemnified Parties in or by reason of any pending, threatened or completed
action, suit, investigation or other proceeding (including an action or suit by or in the right of the Company or its security
holders) arising out of or otherwise based upon the performance of any of the Adviser’s duties or obligations under this
Agreement or otherwise as an investment adviser of the Company. Notwithstanding the preceding sentence of this Section 8 to the
contrary, nothing contained herein shall protect or be deemed to protect the Indemnified Parties against or entitle or be deemed
to entitle the Indemnified Parties to indemnification in respect of, any liability to the Company or its security holders to which
the Indemnified Parties would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance
of the Adviser’s duties or by reason of the reckless disregard of the Adviser’s duties and obligations under this Agreement.

 

		9.	Effectiveness, Duration and Termination of Agreement.

 

This Agreement shall become effective as
of the date above written. This Agreement shall continue automatically for successive annual periods, provided that such continuance
is specifically approved at least annually by (a) the vote of the Board or a majority of the outstanding voting securities of the
Company and (b) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested
persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act) of any such party, in accordance with
the requirements of the Investment Company Act and each of whom is an “independent director” under applicable New York
Stock Exchange listing standards. This Agreement may be terminated at any time, without the payment of any penalty, upon 60 days’
written notice, by the vote of a majority of the outstanding voting securities of the Company, or by the vote of the Company’s
directors or by the Adviser. This Agreement shall automatically terminate in the event of its “assignment” (as such
term is defined for purposes of Section 15(a)(4) of the Investment Company Act). The provisions of Paragraph 8 of this Agreement
shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any termination
of this Agreement.

 

    	 	6	 

     

    

 

 

		10.	Notices.

 

Any notice under this Agreement shall be
given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

 

		11.	Amendments.

 

This Agreement may be amended by mutual
consent.

 

		12.	Entire Agreement; Governing Law.

 

This Agreement contains the entire agreement
of the parties and supersedes all prior agreements, understandings and arrangements with respect to the subject matter hereof.
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 Company is regulated as a BDC 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. To the fullest extent permitted by law, in the event of any dispute arising
out of the terms and conditions of this Agreement, the parties hereto consent and submit to the jurisdiction of the courts of the
State of New York in the county of New York and of the U.S. District Court for the Southern District of New York.

 

    	 	7	 

     

    

 

 

IN WITNESS WHEREOF, the parties hereto have
caused this Agreement to be duly executed on the date above written.

 

	 	FIFTH STREET FINANCE CORP.
	 	 	 
	 	 	 
	 	 	 
	 	By:	/s/ Todd G. Owens
	 	 	Name: Todd G. Owens
	 	 	Title:   Chief Executive Officer
	 	 	 
	 	FIFTH STREET MANAGEMENT LLC
	 	 	 
	 	By:	/s/ Leonard M. Tannenbaum
	 	 	Name: Leonard M. Tannenbaum
	 	 	Title:   Chief Executive Officer

 

 

    	 	8	 

     

    

Appendix A

 

Example 1: Income Related Portion of Incentive
Fee for Each Fiscal Quarter

 

Alternative 1

 

Assumptions

 

Investment income (including interest, dividends,
fees, etc.) = 1.25%

 

Hurdle rate(1) = 2%

 

Management fee(2) = 0.4375%

 

Other expenses (legal, accounting, custodian,
transfer agent, etc.)(3) = 0.2%

 

Pre-Incentive Fee Net Investment Income

 

(investment income – (management fee
+ other expenses) = 0.6125%

 

Pre-Incentive Fee Net Investment Income does not exceed
hurdle rate, therefore there is no income-related incentive fee.

 

Alternative 2

 

Assumptions

 

Investment income (including interest, dividends,
fees, etc.) = 2.9%

 

Hurdle rate(1) = 2%

 

Management fee(2) = 0.4375%

 

Other expenses (legal, accounting, custodian, transfer
agent, etc.)(3) = 0.2%

 

Pre-Incentive Fee Net Investment Income

 

(investment income – (management fee + other
expenses) = 2.2625%

 

Incentive fee = 100% X Pre-Incentive Fee Net Investment
Income (subject to ‘‘catch-up’’)(4)

 

= 100% X (2.2625% – 2%)

 

= 0.2625%

 

Pre-Incentive Fee Net Investment Income exceeds the
hurdle rate, but does not fully satisfy the ‘‘catch-up’’ provision, therefore the income related portion
of the incentive fee is 0.2625%.

 

Alternative 3

 

Assumptions

 

Investment income (including interest, dividends,
fees, etc.) = 3.5%

 

Hurdle rate(1) = 2%

 

Management fee(2) = 0.4375%

 

Other expenses (legal, accounting, custodian, transfer
agent, etc.)(3) = 0.2%

 

Pre-Incentive Fee Net Investment Income

 

(investment income – (management fee + other
expenses) = 2.8625%

 

 

Incentive fee = 100% _ Pre-Incentive Fee Net Investment
Income (subject to ‘‘catch-up’’)(4)

 

Incentive fee = 100% X ‘‘catch-up’’
+ (20% X (Pre-Incentive Fee Net Investment Income – 2.5%))

 

Catch up = 2.5% – 2%

 

= 0.5%

 

Incentive fee = (100% X 0.5%) + (20% X (2.8625% –
2.5%))

 

= 0.5% + (20% X 0.3625%)

 

= 0.5% + 0.0725%

 

= 0.5725%

    	 	9	 

     

    

 

Pre-Incentive Fee Net Investment Income exceeds the
hurdle rate, and fully satisfies the ‘‘catch-up’’ provision, therefore the income related portion of the
incentive fee is 0.5725%.

__________

(1) Represents 8% annualized hurdle rate.

 

(2) Represents 1.75% annualized base management
fee.

 

(3) Excludes organizational and offering
expenses.

 

(4) The ‘‘catch-up’’ provision
is intended to provide the Adviser with an incentive fee of 20% on all Pre-Incentive Fee Net Investment Income as if a hurdle rate
did not apply when the Company’s net investment income exceeds 2.5% in any fiscal quarter.

 

Example 2: Capital Gains Portion of
Incentive Fee(*):

 

Alternative 1:

 

Assumptions

 

Year 1: $20 million investment made in Company A (‘‘Investment
A’’), and $30 million investment made in Company B (‘‘Investment B’’)

 

Year 2: Investment A sold for $50 million and fair
market value (‘‘FMV’’) of Investment B determined to be $32 million

 

Year 3: FMV of Investment B determined to be $25 million

 

Year 4: Investment B sold for $31 million

 

The capital gains portion of the incentive fee would
be:

 

Year 1: None

 

Year 2: Capital gains incentive fee of $6 million
($30 million realized capital gains on sale of Investment A multiplied by 20%)

 

Year 3: None à
$5 million (20% multiplied by ($30 million cumulative capital gains less $5 million cumulative capital depreciation)) less $6 million
(previous capital gains fee paid in Year 2) (1)

 

Year 4: Capital gains incentive fee of $200,000 à
$6.2 million ($31 million cumulative realized capital gains multiplied by 20%) less $6 million (capital gains incentive fee taken
in Year 2)

 

Alternative 2

 

Assumptions

 

Year 1: $20 million investment made in Company A (‘‘Investment
A’’), $30 million investment made in Company B (‘‘Investment B’’) and $25 million investment
made in Company C (‘‘Investment C’’)

 

Year 2: Investment A sold for $50 million, FMV of
Investment B determined to be $25 million and FMV of Investment C determined to be $25 million

 

Year 3: FMV of Investment B determined to be $27 million
and Investment C sold for $30 million

 

Year 4: FMV of Investment B determined to be $35 million

 

Year 5: Investment B sold for $20 million

 

The capital gains incentive fee, if any, would be:

 

Year 1: None

 

Year 2: $5 million capital gains incentive fee à
20% multiplied by $25 million ($30 million realized capital gains on Investment A less unrealized capital depreciation on Investment
B)

 

    	 	10	 

     

    

 

 

Year 3: $1.4 million capital gains incentive fee à
$6.4 million (20% multiplied by $32 million ($35 million cumulative realized capital gains less $3 million unrealized capital depreciation))
less $5 million capital gains incentive fee received in Year 2

 

Year 4: None

 

Year 5: None à
$5 million (20% multiplied by $25 million (cumulative realized capital gains of $35 million less realized capital losses of $10
million)) less $6.4 million cumulative capital gains incentive fee paid in Year 2 and Year 3(2)

__________

		*	The hypothetical amounts of returns shown are based on a percentage of the Company’s total net assets and assume no leverage.
There is no guarantee that positive returns will be realized and actual returns may vary from those shown in this example.

	 	 
	(1)	As illustrated in Year 3 of Alternative 1 above, if the Company were to be wound up on a date other than its fiscal year end
of any year, the Company may have paid aggregate capital gains incentive fees that are more than the amount of such fees that would
be payable if the Company had been wound up on its fiscal year end of such year.

	 	 
	(2)	As noted above, it is possible that the cumulative aggregate capital gains fee received by the Adviser ($6.4 million) is effectively
greater than $5 million (20% of cumulative aggregate realized capital gains less net realized capital losses or net unrealized
depreciation ($25 million)).

 

    	 	11

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