<SEC-DOCUMENT>0000902664-17-002134.txt : 20170502
<SEC-HEADER>0000902664-17-002134.hdr.sgml : 20170502
<ACCEPTANCE-DATETIME>20170502165659
ACCESSION NUMBER:		0000902664-17-002134
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170502
DATE AS OF CHANGE:		20170502

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADVENT CLAYMORE CONVERTIBLE SECURITIES & INCOME FUND
		CENTRAL INDEX KEY:			0001219120
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-81420
		FILM NUMBER:		17805890

	BUSINESS ADDRESS:	
		STREET 1:		227 W. MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-827-0100

	MAIL ADDRESS:	
		STREET 1:		227 W. MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Saba Capital Management, L.P.
		CENTRAL INDEX KEY:			0001510281
		IRS NUMBER:				800361690
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		405 LEXINGTON AVENUE
		STREET 2:		58TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10174
		BUSINESS PHONE:		212-542-4635

	MAIL ADDRESS:	
		STREET 1:		405 LEXINGTON AVENUE
		STREET 2:		58TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10174
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>p17-1111sc13da.htm
<DESCRIPTION>ADVENT CLAYMORE CONVERTIBLE SECURITIES AND INCOME FUND
<TEXT>
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    <TD STYLE="vertical-align: top; width: 99%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: center">SECURITIES AND EXCHANGE COMMISSION</TD>
    <TD STYLE="width: 1%; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Washington, D.C. 20549</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">SCHEDULE 13D/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Under the Securities Exchange Act of 1934</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Amendment No. 4)*</TD></TR>
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    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">Advent Claymore
        Convertible Securities and Income Fund</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Name of Issuer)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">Common Shares,
        $0.001 par value per share</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Title of Class of Securities)</TD></TR>
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    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">00764C109</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(CUSIP Number)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Saba Capital
        Management, L.P.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">405 Lexington Avenue</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">58th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, NY 10174</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Attention: Michael D'Angelo</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(212) 542-4635</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>with a copy to:</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Eleazer Klein, Esq.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Schulte Roth &amp; Zabel LLP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">919 Third Avenue</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, New York 10022</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 1pt solid">(212) 756-2000</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Name, Address and Telephone Number of Person</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Authorized to Receive Notices and Communications)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">April 28,
        2017</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Date of Event Which Requires Filing of This Statement)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">If the filing person has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule
13d-1(f) or Rule 13d-1(g), check the following box. [X]</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(Page <FONT STYLE="font-size: 11pt">1</FONT>
of 6 Pages)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The information required on the remainder of this cover page shall
not be deemed to be &quot;filed&quot; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&quot;Act&quot;) or
otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>1</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Saba Capital Management, L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>2</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings; font-size: 16pt">&#168;</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings; font-size: 16pt">&#168;</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>3</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>4</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO (see Item 3)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>5</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; padding: 3pt 6pt 6pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings; font-size: 16pt">&#168;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>6</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Delaware</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center">NUMBER OF<BR>
SHARES<BR>
BENEFICIALLY<BR>
OWNED BY<BR>
EACH<BR>
REPORTING<BR>
PERSON WITH:</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>7</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>8</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,625,329</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>9</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>10</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,625,329</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>11</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,625,329</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>12</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings; font-size: 16pt">&#168;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>13</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">11.1%<SUP>1</SUP></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>14</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN; IA</P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 438px">&nbsp;</TD>
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[1]</SUP></FONT>
<FONT STYLE="font-size: 11pt">The percentages used in this Schedule 13D/A are calculated based upon 23,580,877 Shares outstanding
as of April 28, 2017 as disclosed in the Standstill Agreement (as defined in Item 4).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt; font-weight: bold"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">CUSIP No. 00764C109</TD><TD STYLE="width: 34%; text-align: center">SCHEDULE 13D/A</TD><TD STYLE="width: 33%; text-align: right">Page <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --> of 6 Pages</B></FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>1</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Boaz R. Weinstein</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>2</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings; font-size: 16pt">&#168;</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings; font-size: 16pt">&#168;</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>3</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>4</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO (see Item 3)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>5</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; padding: 3pt 6pt 6pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings; font-size: 16pt">&#168;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>6</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">United States</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center">NUMBER OF<BR>
SHARES<BR>
BENEFICIALLY<BR>
OWNED BY<BR>
EACH<BR>
REPORTING<BR>
PERSON WITH:</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>7</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>8</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,625,329</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>9</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>10</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,625,329</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>11</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,625,329</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>12</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings; font-size: 16pt">&#168;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>13</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">11.1%<SUP>1</SUP></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>14</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">IN</P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 438px">&nbsp;</TD>
    <TD STYLE="width: 1px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">____________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><SUP>1</SUP> The percentages used in this Schedule 13D/A are calculated
based upon 23,580,877 Shares outstanding as of April 28, 2017 as disclosed in the Standstill Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt; font-weight: bold"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">CUSIP No. 00764C109</TD><TD STYLE="width: 34%; text-align: center">SCHEDULE 13D/A</TD><TD STYLE="width: 33%; text-align: right">Page <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --> of 6 Pages</B></FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Amendment No. 4 (&quot;<U>Amendment No.
4</U>&quot;) amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the &quot;<U>SEC</U>&quot;)
on April 26, 2016 (the &quot;<U>Original Schedule 13D</U>&quot;), and Amendment No. 1 filed with the SEC on May 17, 2016 (&ldquo;<U>Amendment
No. 1</U>&rdquo;), Amendment No. 2 filed with the SEC on June 6, 2016 (&ldquo;<U>Amendment No. 2</U>&rdquo;), and Amendment No.
3 filed with the SEC on August 5, 2016 (&ldquo;<U>Amendment No. 3</U>,&rdquo; together with this Amendment No. 4, Amendment No.
1, Amendment No. 2, Amendment No. 3, and the Original Schedule 13D, the &ldquo;<U>Schedule 13D</U>&rdquo;) with respect to <FONT STYLE="letter-spacing: -0.1pt">the
</FONT>shares of common shares, $0.001 per share <FONT STYLE="letter-spacing: -0.1pt">(the &quot;<U>Shares</U>&quot;), of </FONT>Advent
Claymore Convertible Securities and Income Fund <FONT STYLE="letter-spacing: -0.1pt">(the &quot;<U>Issuer</U>&quot;). </FONT>This
Amendment No. 4 amends Items 3, 4, 5, 6 and 7 as set forth below.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt; font: 12pt Times New Roman, Times, Serif"><B>Item 3.</B></TD>
    <TD STYLE="width: 88%; padding-right: 5.75pt; padding-left: 5.75pt; font: 12pt Times New Roman, Times, Serif"><B>SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">Item 3 of the Schedule 13D is hereby amended and restated as follows:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">Funds for the purchase of the Shares were derived from the subscription proceeds from investors in SCMF, SCMF II, SCLMF, SCS, SCEF 1 and SCEF 2 and the capital appreciation thereon and margin account borrowings made in the ordinary course of business.&nbsp;&nbsp;In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time.&nbsp;&nbsp;Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Shares reported herein. A total of $35,271,259 was paid to acquire the Shares reported herein.</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt; font: 12pt Times New Roman, Times, Serif"><B>Item 4.</B></TD>
    <TD STYLE="width: 88%; padding-right: 5.75pt; padding-left: 5.75pt; font: 12pt Times New Roman, Times, Serif"><B>PURPOSE OF TRANSACTION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">Item 4 of the Schedule 13D is hereby amended and supplemented by the addition of the following:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt/14pt Times New Roman, Times, Serif; padding-top: 6pt; padding-bottom: 6pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 12pt/14pt Times New Roman, Times, Serif; padding-top: 6pt; padding-bottom: 6pt; text-align: left">On April
    28, 2017, the Reporting Persons entered into a standstill agreement (the &ldquo;<U>Standstill Agreement</U>&rdquo;) with the
    Issuer (together with the Reporting Persons, the &ldquo;<U>Standstill Parties</U>&rdquo;) whereby the parties agreed, among
    other things, and subject to certain conditions, that the Board of Trustees (the &ldquo;<U>Board</U>&rdquo;) of the Issuer
    will cause the Issuer to commence a tender offer to purchase for cash 15% of its outstanding Shares, subject to certain terms
    and conditions (the &ldquo;<U>Tender Offer</U>&rdquo;), with such Tender Offer to be completed on or before September 15,
    2017 but in any event not prior to August 1, 2017.&nbsp;&nbsp;In addition, Saba Capital agreed to tender 100% of its
    then-owned Shares of the Issuer in the Tender Offer.&nbsp;&nbsp;The Standstill Parties also agreed to abide by certain
    customary standstill provisions, such provisions to last until one day after the completion of the Issuer&rsquo;s annual
    meeting of shareholders held during the fiscal year ending October 31, 2019, or such earlier time as such restrictions
    terminate pursuant to their terms (the &ldquo;<U>Standstill Period</U>&rdquo;).&nbsp;&nbsp;In addition, the Reporting Persons
    have agreed to additional standstill provisions to last until April 25, 2019, or such earlier time as such restrictions
    terminate pursuant to their terms, which provide that the Reporting Persons agree to cause all Shares beneficially owned by
    them to be present for quorum purposes and to be voted in favor of any proposal with respect to which the Board recommends a
    vote in favor of such proposal and against any proposal with respect to which the Board recommends a vote against such
    proposal or any proposal made in opposition to, or in competition or inconsistent with, the recommendation of the
    Board.&nbsp;&nbsp;The foregoing summary of the Standstill Agreement is qualified in its entirety by reference to the full
    text of the Standstill Agreement, the form of which is attached hereto as <U>Exhibit 2</U> to this Schedule 13D and
    incorporated by reference herein.</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt"></FONT></P>

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    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt; font-weight: bold"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">CUSIP No. 00764C109</TD><TD STYLE="width: 34%; text-align: center">SCHEDULE 13D/A</TD><TD STYLE="width: 33%; text-align: right">Page <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --> of 6 Pages</B></FONT></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt; font: 12pt Times New Roman, Times, Serif"><B>Item 5.</B></TD>
    <TD STYLE="width: 88%; padding-right: 5.75pt; padding-left: 5.75pt; font: normal 12pt Times New Roman, Times, Serif"><B>INTEREST IN SECURITIES OF THE ISSUER</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: normal 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: normal 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">Paragraphs (a) - (c) of Item 5 of the Schedule 13D are hereby amended and restated in their entirety as follows:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: normal 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">(a)</TD>
    <TD STYLE="font: normal 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of Shares and percentages of the Shares beneficially owned by each of the Reporting Persons.&nbsp;&nbsp;The percentages used in this Schedule 13D are calculated based upon 23,580,877 Shares outstanding as of April 28, 2017 <FONT STYLE="font-size: 11pt">as disclosed in the Standstill Agreement</FONT>.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: normal 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">(b)</TD>
    <TD STYLE="font: normal 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">See rows (7) through (10) of the cover pages to this Schedule 13D for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: normal 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">(c)</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">During the last 60 days, no transactions in the Shares were effected by any Reporting Person.</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt; font: 12pt Times New Roman, Times, Serif"><B>Item 6.</B></TD>
    <TD STYLE="width: 88%; padding-right: 5.75pt; padding-left: 5.75pt; font: 12pt Times New Roman, Times, Serif"><B>CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">Item 6 of the Schedule 13D is hereby amended and supplemented by the addition of the following:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">As described further in Item 4 hereto, the Reporting Persons are party to the Standstill Agreement, which is attached as Exhibit 2 to this Amendment No. 4 and is incorporated by reference herein.</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt; font: 12pt Times New Roman, Times, Serif"><B>Item 7.</B></TD>
    <TD STYLE="width: 88%; padding-right: 5.75pt; padding-left: 5.75pt; font: 12pt Times New Roman, Times, Serif"><B>EXHIBITS</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt"><B>&nbsp;</B></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-decoration: none">Item
    7 of the Schedule 13D is hereby amended and supplemented by the addition of the following:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-decoration: underline"><B><U>Exhibit</U></B></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-decoration: underline"><B><U>Description</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center">Exhibit 2:</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">Form of Standstill Agreement, dated as of April 28, 2017.</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt; font-weight: bold"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">CUSIP No. 00764C109</TD><TD STYLE="width: 34%; text-align: center">SCHEDULE 13D/A</TD><TD STYLE="width: 33%; text-align: right">Page <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --> of 6 Pages</B></FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">SIGNATURES</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">After reasonable inquiry and to the best
of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true,
complete and correct.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Date: May 2, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 53%; border-bottom: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">SABA CAPITAL Management,
        L.P.</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">/s/ Michael D'Angelo</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Name: Michael D'Angelo</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Title: Chief Compliance Officer</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">BOAZ R. WEINSTEIN</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">/s/ Michael D'Angelo</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">Name: Michael D'Angelo</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">Title: Attorney-in-fact*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">* Pursuant to a power of attorney dated as of November 16, 2015,
which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015,
accession number: 0001062993-15-006823</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B>Exhibit 2</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>Form of Standstill Agreement</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-bottom: 12pt; margin-left: 0">This
Agreement is entered into as of April 28, 2017 (including the exhibits hereto, this &ldquo;<B>Agreement</B>&rdquo;), by and among
Saba Capital Management, L.P. (&ldquo;<B>Saba</B>&rdquo;) and Advent Claymore Convertible Securities and Income Fund (the &ldquo;<B>Trust</B>&rdquo;)
(the Trust, together with Saba, the &ldquo;<B>Parties</B>,&rdquo; and each individually a &ldquo;<B>Party</B>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-bottom: 12pt; margin-left: 0">WHEREAS,
the Trust is a closed-end management investment company registered under the Investment Company Act of 1940, as amended (the &ldquo;<B>1940
Act</B>&rdquo;);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-bottom: 12pt; margin-left: 0">WHEREAS,
the Trust, as of the close of business on April 28, 2017, has approximately 23,580,877 common shares of beneficial interest, par
value $0.001 per share, outstanding;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-bottom: 12pt; margin-left: 0">WHEREAS,
as of the close of business on April 28, 2017, Saba is the beneficial owner (as such term is used in Rule 13d-3 under the Securities
Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;)) of, in the aggregate, 2,625,329 common shares of the
Trust representing approximately 11% of the outstanding common shares of the Trust;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-bottom: 12pt; margin-left: 0">WHEREAS,
the Trust and Saba believe it is in their mutual interests for the Parties to take the actions reflected below;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-bottom: 12pt; margin-left: 0">NOW,
THEREFORE, in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties hereto hereby agree as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Section</TD><TD STYLE="text-align: justify">&nbsp;&nbsp;1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Tender Offer and Distribution Rate Increase by the Trust.</U></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.1</TD><TD STYLE="text-align: justify">On the basis of the representations, warranties and agreements set forth herein and subject to
performance by Saba of its covenants and other obligations hereunder and the other conditions set forth herein:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Trust shall commence a tender offer to purchase 15% (the &ldquo;<B>Maximum Amount</B>&rdquo;)
of its outstanding common shares (the &ldquo;<B>Tender Offer</B>&rdquo;). The Tender Offer shall include the following terms: (i)
shareholders shall have the opportunity to tender some or all of their common shares at a price equal to 98% of the Trust&rsquo;s
net asset value per share (&ldquo;<B>NAV</B>&rdquo;) as determined as of the close of the regular trading session of the New York
Stock Exchange (the &ldquo;<B>NYSE</B>&rdquo;) on the next day the NAV is calculated after the expiration date of the Tender Offer
or, if the Tender Offer is extended, on the next day the NAV is calculated after the day to which the Tender Offer is extended,
(ii) the Trust shall purchase common shares tendered and not withdrawn on a prorated basis up to the Maximum Amount if greater
than the Maximum Amount of common shares are properly tendered and not properly withdrawn, (iii) the consideration to be paid by
the Trust for common shares under the Tender Offer shall consist solely of cash, and (iv) if less than the Maximum Amount of common
shares have been properly tendered and not withdrawn, then the Trust shall only be obligated to purchase such amount of shares.
Notwithstanding anything contained in this Agreement to the contrary, in no event shall the Trust, prior to August 1, 2017, accept
for payment, and pay for, any common shares tendered in the Tender Offer,&nbsp;nor shall the Tender Offer expire before such date.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Tender Offer shall not provide for preferential treatment for any shareholders of the Trust.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The Tender Offer shall require odd lot tenders to be subject to the same proration terms as tenders
of 100 shares or more.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Although the Trust has committed to commence the Tender Offer under the circumstances set forth
above, the Trust will not commence the Tender Offer or accept tenders of the Trust&rsquo;s common shares during any period when
(i) such transactions, if consummated, would: (A) result in the delisting of the Trust&rsquo;s shares from the NYSE or (B) impair
the Trust&rsquo;s status as a regulated investment company under the Internal Revenue Code of 1986, as amended (the &ldquo;<B>Code</B>&rdquo;)
(which would make the Trust a taxable entity, causing the Trust&rsquo;s income to be taxed at the fund level in addition to the
taxation of shareholders who receive distributions from the Trust); (ii) there is any (A) legal or regulatory action or proceeding
instituted or threatened challenging such transaction, (B) suspension of or limitation on prices for trading securities generally
on the NYSE or other national securities exchange(s), including the National Association of Securities Dealers Automated Quotation
System (&ldquo;<B>NASDAQ</B>&rdquo;) National Market System, or (C) declaration of a banking moratorium by federal or state authorities
or any suspension of payment by banks in the United States or New York State; or (iii) the Board of Trustees of the Trust (the
&ldquo;<B>Trust Board</B>&rdquo;) determines in good faith, upon written advice of counsel, that effecting any such transaction
would constitute a breach of its fiduciary duty owed to the Trust or its shareholders. In the event of a delay pursuant to any
of clauses (i), (ii) or (iii) above, the Trust will provide prompt written notice to Saba together with a detailed analysis of
the reason for such delay and reasonable support for such determination. In the event of a delay pursuant to either of clauses
(i) or (ii) above, the Trust will commence the Tender Offer delayed by the pendency of such events within 20 days after the termination
of such delaying event.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.2</TD><TD STYLE="text-align: justify">The Trust will declare its next monthly distribution, payable on or about May 31, 2017, to shareholders
of record as of a record date on or about May 15, 2017, in an amount equal to $0.1116 per share (the &ldquo;<B>May Distribution</B>&rdquo;).
Through April 31, 2019, the Trust will pay monthly distributions, which shall be declared by the Trust Board in an amount not less
than 8.0% of the Trust&rsquo;s NAV, calculated based on the applicable distribution annualized, divided by the average of the Trust&rsquo;s
NAV as of the last business day of each of the prior 12 months ended prior to the declaration date of such distribution, unless
(i) the Trust Board determines in good faith, upon written advice of counsel, that the declaration or payment of such distribution
would constitute a breach of its fiduciary duty owed to the Trust or its shareholders, or (ii) the declaration or payment of such
distribution would violate the 1940 Act or the Delaware Statutory Trust Act or would impair the Trust&rsquo;s status as a regulated
investment company under the Code. Each such distribution may be sourced from income, return of capital and/or capital gain, to
the extent permitted by the 1940 Act and the rules and regulations thereunder.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.3</TD><TD STYLE="text-align: justify">Saba agrees to tender 100% of its then-owned common shares of the Trust in the Tender Offer.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.4</TD><TD STYLE="text-align: justify">Saba further agrees that it will not, and that it will not permit any of its affiliated persons
(as such term is defined in the 1940 Act) to, directly or indirectly, (i) nominate or recommend for nomination any individual for
election as a trustee at any annual or special meeting of shareholders of the Trust held during the Standstill Period (as defined
below), (ii) submit any proposal for consideration at, or bring any other business before, any annual or special meetings of shareholders
of the Trust held during the Standstill Period, (iii) initiate, encourage or participate in the solicitation of proxies or exempt
solicitation, including under Rule 14a-2(b)(1) under the Exchange Act with respect to any annual or special meeting of shareholders
of the Trust held during the Standstill Period or (iv) publicly or privately encourage or support any other shareholder of the
Trust to take any of the actions described in this Section 1.4. Saba agrees that Boaz R. Weinstein and Saba Capital Management
GP, LLC are affiliates of Saba for purposes of this Agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.5</TD><TD STYLE="text-align: justify">The Trust agrees that prior to the completion of the Tender Offer the Trust shall not consummate
(i) a merger or reorganization in which the Trust is not the surviving entity or (ii) sale of substantially all of the assets of
the Trust. In the event the Tender Offer is not consummated pursuant to the terms herein, then the Trust shall not consummate a
merger or reorganization in which the Trust is not the surviving entity or sale of substantially all of the assets of the Trust
without first obtaining shareholder approval, which approval shall be obtained subsequent to the termination of this Agreement
pursuant to Section 4.2. In the event of a merger or reorganization, the terms of Section 1.2 shall apply to the successor entity
while Saba is invested in the successor entity.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Section</TD><TD STYLE="text-align: justify">&nbsp;&nbsp;2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Additional Agreements.</U></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="text-align: justify">Saba covenants and agrees that during the period from the date of this Agreement through the date
one day after the completion of the Trust&rsquo;s annual meeting of shareholders held during the fiscal year ending October 31,
2019, including any adjournments or postponements thereof, which date shall not occur later than November 1, 2019, or until such
earlier time as the restrictions in this Section 2.1 terminate as provided in Section 4.2 of this Agreement (the &ldquo;<B>Standstill
Period</B>&rdquo;) it will not, and will cause its respective principals, directors, general partners, members, officers, employees,
affiliated persons and representatives not to, directly or indirectly, alone or in concert with others (including, by directing,
requesting or suggesting that any other person take any of the actions set forth below), unless specifically permitted in writing
in advance by the Trust Board, take any of the actions set forth below:</TD></TR></TABLE>




<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">effect, seek, offer, engage in, propose (whether publicly or otherwise and whether or not subject
to conditions) or cause, participate in or act to, or assist any other person to effect, seek, engage in, offer or propose (whether
publicly or otherwise) or participate in or act to (other than as specifically contemplated by this Agreement):</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any &ldquo;solicitation&rdquo; of &ldquo;proxies&rdquo; or become a &ldquo;participant&rdquo; in
any such &ldquo;solicitation&rdquo; as such terms are defined in Regulation 14A under the Exchange Act, disregarding clause (iv)
of Rule 14a-1(l)(2) and including any otherwise exempt solicitation pursuant to Rule 14a-2(b), in each case, with respect to securities
of the Trust (including, without limitation, any solicitation of consents to act by written consent or call a special meeting of
shareholders);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">knowingly encourage or advise any other person or assist or act to assist any person in so encouraging
or advising any person with respect to the giving or withholding of any proxy, consent or other authority to vote (other than such
encouragement or advice that is consistent with the Trust management's recommendation with respect to the Trust in connection with
such matter or encouragement or advice solely amongst Saba);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">any (i) tender or exchange offer for securities of the Trust (aside from the Tender Offer contemplated
by Section 1 or any other tender offer offered by the Trust to all shareholders), or any merger, consolidation, business combination
or acquisition or disposition of assets of the Trust, or (ii) recapitalization, restructuring, liquidation, dissolution or other
similar extraordinary transaction with respect to the Trust (it being understood that the foregoing shall not restrict any person
from tendering common shares, receiving payment for common shares or otherwise participating in any such transaction on the same
basis as other shareholders of the Trust or from participating in any such transaction that has been approved by the Trust Board,
subject to the terms of this Agreement);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">engage, directly or indirectly, in any short sale that includes, relates to or derives any part
of its value from a decline in the market price or value of the securities of the Trust;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">form, join or in any way participate in any &ldquo;group&rdquo; (within the meaning of Section
13(d)(3) of the Exchange Act) (other than the existing group, which consists solely of members of Saba and its affiliated persons)
with respect to the securities of the Trust in connection with seeking the election or removal of any trustee of the Trust;</TD></TR></TABLE>




<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">deposit any securities of the Trust in any voting trust or subject any securities of the Trust
to any arrangement or agreement with respect to the voting of the securities of the Trust, including, without limitation, lend
any securities of the Trust to any person or entity for the purpose of allowing such person or entity to vote such securities in
connection with any shareholder vote or consent of the Trust, other than any such voting trust, arrangement or agreement solely
among the members of Saba and its affiliated persons;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">seek or encourage, alone or in concert with others, any person to submit nominations in furtherance
of a &ldquo;contested solicitation&rdquo; for the election or removal of trustees with respect to the Trust;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">seek or encourage, alone or in concert with others, the removal or resignation of any member of
the Trust Board;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">make a request for a shareholder list or other Trust books and records;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">take any action (other than in accordance with this Section 2.1) with respect to any shareholder
proposal submitted prior to the date of this Agreement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">conduct a referendum of shareholders of the Trust, or make a request for a shareholder list or
other similar books and records of the Trust;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">seek, alone or in concert with others, representation on the Board of the Trust;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">seek to control or influence the management, Board or policies of the Trust;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">institute, solicit, assist or join any litigation, arbitration or other proceeding against or involving
the Trust or any of its current or former trustees or officers (including derivative actions); provided, however, that for the
avoidance of doubt the foregoing shall not prevent Saba from (A) bringing litigation to enforce the provisions of this Agreement,
(B) making counterclaims with respect to any proceeding initiated by, or on behalf of, the Trust against Saba, or (C) responding
to or complying with a validly initiated legal process;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">make any public statement or proposal with respect to (i) any change in the number or term of trustees
or the filling of any vacancies on the Trust Board, (ii) any change in the capitalization or distribution policy of the Trust,
(iii) any other material change in the Trust&rsquo;s management, business or corporate structure, or (iv) any waiver, amendment
or modification to the Agreement and Declaration of Trust or Bylaws of the Trust;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">publicly disclose any intention, plan or arrangement inconsistent with the foregoing;</TD></TR></TABLE>




<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">except as specifically contemplated by this Agreement, enter into any discussions, negotiations,
arrangements or understandings with any person with respect to any of the foregoing, or advise, assist, encourage or seek to persuade
others to take any action with respect to any of the foregoing; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">publicly, or privately in a manner that is intended to or would reasonably be expected to require
any public disclosure by the Trust or Saba, request that the Trust, the Trust Board or any of their respective representatives
amend or waive any provision of this Section 2.1 (including this sentence) or for the Trust Board to specifically invite Saba or
any of its affiliated persons to take any of the actions prohibited by this Section 2.1.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">For the avoidance
of doubt, during the Standstill Period, Saba and its affiliated persons may communicate privately with (a) any third party and
(b) the Trust&rsquo;s trustees, officers and investment adviser and sub-adviser, but in each case only so long as (i) such private
communications are not intended to and would not reasonably be expected to require any public disclosure thereof and (ii) such
private communications do not violate the terms of this Agreement.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.2</TD><TD STYLE="text-align: justify">Saba covenants and agrees that during the period from the date of this Agreement through and including
April 25, 2019, or until such earlier time as the restrictions in this Section 2.2 terminate as provided in Section 4.2 of this
Agreement (the &ldquo;<B>Effective Period</B>&rdquo;), it will, and will cause its affiliated persons to:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">appear at any annual or special meeting of shareholders of the Trust or otherwise cause all shares
it beneficially owns as of the record date for such meeting to be counted as present thereat for purposes of a quorum; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">vote or cause to be voted at any annual or special meeting of shareholders of the Trust all of
the shares it beneficially owns as of the record date for such meeting (i) in favor of any proposal with respect to which the Trust
Board recommends a vote in favor of such proposal and (ii) against any proposal with respect to which the Trust Board recommends
a vote against such proposal or any proposal made in opposition to, or in competition or inconsistent with, the recommendation
of the Trust Board.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">For the avoidance
of doubt, if Saba lends any common shares of the Trust to any third party (in compliance with the restrictions in Section 2.1),
Saba shall recall any such stock loan in advance of the record date for any vote of or consent by the shareholders of the Trust
so that Saba shall have full voting rights with respect to all such loaned shares.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.3</TD><TD STYLE="text-align: justify">Upon request of the Trust, Saba will notify the Trust of the number of common shares beneficially
owned by it and its affiliated persons up to one (1) time per each fiscal quarter of the Trust.</TD></TR></TABLE>




<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Saba covenants and agrees that during the Effective Period it will not, and will cause its respective
principals, directors, general partners, members, officers, employees, affiliated persons and representatives not to, directly
or indirectly, alone or in concert with others (including, by directing, requesting or suggesting that any other person take any
of the actions set forth below), unless specifically permitted in writing by the Trust, acquire any common shares of the Trust
or take any action, directly or indirectly, including by means of any Derivative Securities (as defined below), which would cause
Saba to beneficially own common shares of the Trust in excess of the Ownership Limit immediately following such acquisition or
action (except to the extent such common shares are issued by the Trust to all existing shareholders), whether or not any of the
foregoing may be acquired or obtained immediately or only after the passage of time or upon the satisfaction of one or more conditions
(whether or not within the control of such party) pursuant to any agreement, arrangement or understanding (whether or not in writing)
or otherwise and whether or not any of the foregoing would give rise to beneficial ownership (as such term is used in Rule 13d-3
under the Exchange Act ), and whether or not any of the foregoing is acquired or obtained by means of borrowing of securities,
operation of any Derivative Security or otherwise.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">For the purposes
of this Agreement:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the term &ldquo;<B>Derivative Securities</B>&rdquo; means, with respect to any person, any rights,
options or other securities convertible into or exchangeable for securities, bank debt or other obligations or any obligations
measured by the price or value of any securities, bank debt or other obligations of such person, including without limitation any
swaps or other derivative arrangements;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the term &ldquo;<B>Ownership Limit</B>&rdquo; means, at any time prior to the completion of the
Tender Offer, 2,625,329 common shares of the Trust, and at any time following the completion of the Tender Offer means the lesser
of (x) 2,625,329 common shares or (y) the sum of (A) 2% of the number of common shares of the Trust outstanding immediately following
the completion of the Tender Offer and (B) the number of outstanding common shares of the Trust beneficially owned by Saba immediately
following the completion of the Tender Offer (such amount to be confirmed in writing by Saba, together with a written affirmation
by Saba that it has tendered 100% of its then-owned common shares of the Trust in the Tender Offer).</TD></TR></TABLE>




<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.5</TD><TD STYLE="text-align: justify">Saba represents and warrants as follows:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">It has the power and authority to execute, deliver and carry out the terms and provisions of this
Agreement and to consummate the transactions contemplated hereby.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">This Agreement has been duly and validly authorized, executed and delivered by it and is enforceable
against Saba in accordance with its terms.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The execution and delivery of this Agreement and the consummation of the transactions contemplated
hereby will not contravene any provision of law applicable to it.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Saba beneficially owns, directly or indirectly, and has the sole power to vote all the common shares
of each of the Trust as described in the recitals to this Agreement, and its ownership of common shares of the Trust has at all
times complied with applicable provisions of the 1940 Act.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">As of the date hereof, neither Saba nor any of its affiliated persons is a party to any Derivative
Securities, including without limitation any swap or hedging transactions or other derivative agreement, or any securities lending
or short sale arrangements, of any nature with respect to the common shares of the Trust.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.6</TD><TD STYLE="text-align: justify">The Trust represents and warrants as follows:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Trust has the power and authority to execute, deliver and carry out the terms and provisions
of this Agreement and to consummate the transactions contemplated hereby.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">This Agreement has been duly and validly authorized, executed and delivered by the Trust and it
is enforceable against the Trust in accordance with its terms.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The execution and delivery of this Agreement and the consummation of the transactions contemplated
hereby will not contravene any provision of law applicable to the Trust.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Section</TD><TD STYLE="text-align: justify">&nbsp;&nbsp;3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Press Releases; Public Statements.</U></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">Saba and the
Trust agrees that, no later than one (1) business day following the execution of this Agreement, (i) the Trust will issue a press
release announcing the entrance into and terms of this Agreement and the determination of the Trust Board to commence the Tender
Offer, subject to the other conditions set forth herein and the declaration of the May Distribution, in substantially the form
attached as <U>Exhibit A</U> hereto (the &ldquo;<B>Trust Press Release</B>&rdquo;), and no Party shall make any statement inconsistent
with the Trust Press Release during the Standstill Period. Saba shall not issue a press release in connection with this Agreement
or the actions contemplated hereby without the prior written consent of the Trust. Nothing in this Agreement shall prevent (a)
any Party from taking any action required by any governmental or regulatory authority (except to the extent such requirement arose
as a result of the discretionary act(s) of such Party), (b) any Party from making any factual statement that is required in any
compelled testimony or production of information, either by legal process, by subpoena or as part of a response to a request for
information from any governmental authority with jurisdiction over such Party or as otherwise legally required and (c) Saba and
its affiliated persons from communicating with its investors and prospective investors; provided that such communication is otherwise
consistent with this Agreement and the Trust Press Release. Saba shall promptly prepare and file an amendment to its Schedule 13D
filed with the U.S. Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;) reporting its entry into this Agreement (which
will not contain any statement inconsistent with the Trust Press Release) and the Item 4 disclosure set forth therein will be in
a form materially consistent with the draft previously provided to the Trust.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Section</TD><TD STYLE="text-align: justify">&nbsp;&nbsp;4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination.</U></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.1</TD><TD STYLE="text-align: justify">If the Trust fails to complete the Tender Offer on or before September 15, 2017, this Agreement
shall immediately terminate and be of no further force or effect.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.2</TD><TD STYLE="text-align: justify">This Agreement remains in full force and effect until the earliest of:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the expiration of the Standstill Period;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">a termination of this Agreement pursuant to Section 4.1; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">such other date established by mutual written agreement of the Trust and Saba.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.3</TD><TD STYLE="text-align: justify">Section 6 survives the termination of this Agreement. No termination pursuant to this Section 4
relieves any Party from liability for any breach of this Agreement prior to such termination.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Section</TD><TD STYLE="text-align: justify">&nbsp;&nbsp;5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Disparagement.</U></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.1</TD><TD STYLE="text-align: justify">During the Effective Period, each Party hereto shall refrain, and shall cause its respective principals,
directors, general partners, members, officers, employees, affiliated persons and representatives to refrain, from directly or
indirectly making disparaging remarks, comments or statements (including in any document or report filed with or furnished to the
SEC or through the press, media, analysts or other persons) about, or taking any action reasonably likely to damage the reputation
of, the other Party, the Trust, its members, directors, officers, employees or affiliated persons, or any members of the Trust
Board. Such disparaging remarks, comments or statements include, but are not limited to, those that impugn the character, honesty,
integrity, morality, business acumen or abilities of the individual or entity being disparaged. The foregoing shall not apply to
any compelled testimony or production of information, either by legal process, subpoena, or as part of a response to a request
for information from any governmental authority with jurisdiction over the Party from whom information is sought.</TD></TR></TABLE>




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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Section</TD><TD STYLE="text-align: justify">&nbsp;&nbsp;6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Miscellaneous.</U></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.1</TD><TD STYLE="text-align: justify"><U>Remedies</U>. Each Party hereto hereby acknowledges and agrees that irreparable harm will occur
in the event any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise
breached. It is accordingly agreed that the Parties will be entitled to seek specific performance hereunder, including, without
limitation, an injunction or injunctions to prevent and enjoin breaches of the provisions of this Agreement and to enforce specifically
the terms and provisions hereof in any state or federal court in the State of Delaware, in addition to any other remedy to which
they may be entitled at law or in equity. Any requirements for the securing or posting of any bond with respect to any such remedy
are hereby waived. All rights and remedies under this Agreement are cumulative, not exclusive, and will be in addition to all rights
and remedies available to any Party at law or in equity.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.2</TD><TD STYLE="text-align: justify"><U>Jurisdiction; Venue; Waiver of Jury Trial</U>. The Parties hereto hereby irrevocably and unconditionally
consent to and submit to the jurisdiction of the state or federal courts in the State of Delaware for any actions, suits or proceedings
arising out of or relating to this Agreement or the transactions contemplated hereby. The Parties irrevocably and unconditionally
waive any objection to the laying of venue of any action, suit or proceeding arising out of this Agreement, or the transactions
contemplated hereby, in the state or federal courts in the State of Delaware, and hereby further irrevocably and unconditionally
waive and agree not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has
been brought in an inconvenient forum. Each of Saba and the Trust waives all right to trial by jury in any action, proceeding or
counterclaim (whether based upon contract, tort or otherwise) in any way arising out of or relating to this Agreement.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.3</TD><TD STYLE="text-align: justify"><U>Entire Agreement</U>. This Agreement contains the entire understanding of the Parties with respect
to the subject matter hereof and may be amended only by an agreement in writing executed by the Parties hereto. This Agreement
supersedes all previous negotiations, representations and discussions by the Parties hereto concerning the subject matter hereof,
and integrates the whole of all of their agreements and understanding concerning same. No prior oral representations or undertakings
concerning the subject matter hereof will operate to amend, supersede, or replace any of the terms or conditions set forth in this
Agreement, nor will they be relied upon.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.4</TD><TD STYLE="text-align: justify"><U>Section Headings</U>. Descriptive headings are for convenience only and will not control or
affect the meaning or construction of any provision of this Agreement.</TD></TR></TABLE>




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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.5</TD><TD STYLE="text-align: justify"><U>Notice.</U> All notices, consents, requests, instructions, approvals and other communications
provided for herein and all legal process in regard hereto will be validly given, made or served, if in writing and sent by email
or facsimile, with a copy by personal delivery, certified mail, return receipt requested, or by overnight courier service to:</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in">If to the Trust, to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Advent Claymore Convertible Securities and Income Fund<BR>
c/o Advent Capital Management, LLC<BR>
1271 Avenue of the Americas, 45th Floor<BR>
New York, NY 10020<BR>
Attention: Edward C. Delk<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secretary<BR>
Facsimile: (212) 480-9655<BR>
Email: edelk@adventcap.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 6pt 1in">with copies to (which copies shall not constitute notice):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 1in">Skadden, Arps, Slate, Meagher &amp; Flom LLP<BR>
4 Times Square<BR>
New York, NY 10020<BR>
Attention: Richard J. Grossman<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kevin T. Hardy<BR>
Facsimile: (917) 777-2116&nbsp;<BR>
Email: richard.grossman@skadden.com<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;kevin.hardy@skadden.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 1in">Saba Capital Management, L.P.<BR>
405 Lexington Avenue<BR>
58th Floor<BR>
New York, NY 10174<BR>
Attention: Michael D&rsquo;Angelo, Esq.<BR>
Email: Michael.D'Angelo@sabacapital.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in">with a copy to (which copy shall not constitute notice):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Schulte Roth &amp; Zabel LLP<BR>
919 Third Avenue<BR>
New York, NY 10022<BR>
Attention: Eleazer Klein, Esq.<BR>
Email:&#9;Eleazer.Klein@srz.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.6</TD><TD STYLE="text-align: justify"><U>Severability</U>. Any provision of this Agreement that is invalid or unenforceable in any jurisdiction
will, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or
unenforceable the remaining provisions of this Agreement or affecting the validity or enforceability of any provisions of this
Agreement in any other jurisdiction. In addition, the Parties agree to use their reasonable commercial efforts to agree upon and
substitute a valid and enforceable term, provision, covenant or restriction for any such term, provision, covenant or restriction
that is held invalid, void or unenforceable by a court of competent jurisdiction.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.7</TD><TD STYLE="text-align: justify"><U>Governing Law</U>. This Agreement will be governed by and construed and enforced in accordance
with the laws of the State of Delaware, without regard to the conflict of law principles thereof.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.8</TD><TD STYLE="text-align: justify"><U>Binding Effect; No Assignment</U>. This Agreement will be binding upon and inure to the benefit
of and be enforceable by and against, as applicable, the successors and assigns of the Parties hereto. Nothing in this Agreement,
expressed or implied, is intended to confer on any person other than the Parties hereto, or their respective successors and assigns
any rights, remedies, obligations or liabilities under or by reason of this Agreement. No Party to this Agreement may, directly
or indirectly, assign its rights or delegate its obligations hereunder (whether voluntarily, involuntarily, or by operation of
law) without the prior written consent of the other Party. Any such attempted assignment will be null and void.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.9</TD><TD STYLE="text-align: justify"><U>Amendments; Waivers</U>. No provision of this Agreement may be amended other than by an instrument
in writing signed by the Parties hereto, and no provision hereof may be waived other than by an instrument in writing signed by
the Party against whom enforcement is sought.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.10</TD><TD STYLE="text-align: justify"><U>No Reliance</U>. Each Party acknowledges that it has received adequate information to enter
into this Agreement, that is has not relied on any promise, representation or warranty, express or implied not contained in this
Agreement and that it has been represented by counsel in connection with this Agreement. Accordingly, any rule of law or any legal
decision that would provide any Party with a defense to the enforcement of the terms of this Agreement against such Party shall
have no application and is expressly waived. The provisions of the Agreement shall be interpreted in a reasonable manner to effect
the intent of the Parties.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.11</TD><TD STYLE="text-align: justify"><U>Counterparts</U>. This Agreement may be executed in counterparts, each of which will be deemed
an original, but all of which together will constitute one and the same instrument. Delivery of an executed signature page of this
Agreement by email or other electronic means shall be effective as delivery of a manually executed counterparty hereof.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-bottom: 6pt; margin-left: 0"><I>[Signatures
appear on next page]</I></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-bottom: 12pt; margin-left: 0">IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first above written.</P>

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    <TD COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 4.3pt; padding-left: 4.3pt">ADVENT CLAYMORE CONVERTIBLE SECURITIES AND INCOME FUND</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 4.3pt; padding-left: 4.3pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 4.3pt; padding-left: 4.3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 4.3pt; padding-left: 4.3pt"></TD></TR>
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    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 4.3pt; padding-left: 4.3pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 4.3pt; padding-left: 4.3pt; text-decoration: none">By:</TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.3pt; padding-left: 4.3pt; border-bottom: Black 1pt solid">
</TD></TR>
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    <TD STYLE="width: 54%; padding-right: 4.3pt; padding-left: 4.3pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 4.3pt; padding-left: 4.3pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 4.3pt; padding-left: 4.3pt; font: 12pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="width: 30%; padding-right: 4.3pt; padding-left: 4.3pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 4.3pt; padding-left: 4.3pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 4.3pt; padding-left: 4.3pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 4.3pt; padding-left: 4.3pt">Title:</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 4.3pt; padding-left: 4.3pt">&nbsp;</TD></TR>
</TABLE>
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    <TD COLSPAN="3" STYLE="padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">SABA CAPITAL MANAGEMENT, L.P.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt; text-decoration: none">By:</TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.3pt; padding-left: 4.3pt; border-bottom: Black 1pt solid">
</TD></TR>
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    <TD STYLE="width: 54%; padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">Name:</TD>
    <TD STYLE="width: 30%; padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt">Title:</TD>
    <TD STYLE="padding-right: 4.3pt; padding-left: 4.3pt; font-size: 12pt"></TD></TR>
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