<SEC-DOCUMENT>0001534254-16-000372.txt : 20161208
<SEC-HEADER>0001534254-16-000372.hdr.sgml : 20161208
<ACCEPTANCE-DATETIME>20161208171125
ACCESSION NUMBER:		0001534254-16-000372
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161208
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161208
DATE AS OF CHANGE:		20161208

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CION Investment Corp
		CENTRAL INDEX KEY:			0001534254
		IRS NUMBER:				453058280
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00941
		FILM NUMBER:		162042157

	BUSINESS ADDRESS:	
		STREET 1:		3 PARK AVENUE
		STREET 2:		36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		212 - 418 - 4700

	MAIL ADDRESS:	
		STREET 1:		3 PARK AVENUE
		STREET 2:		36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	C&#298;ON Investment Corp
		DATE OF NAME CHANGE:	20111104
</SEC-HEADER>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-RIGHT: 0pt">CURRENT REPORT</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-RIGHT: 0pt">Pursuant to Section 13 or 15(d) of the</div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 0pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date of Report</font> (Date of earliest event reported):&#160;<font style="FONT-WEIGHT: bold">Dec</font><font style="FONT-WEIGHT: bold">ember</font><strong> 8</strong><font style="FONT-WEIGHT: bold">, 2016</font></div>

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<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;(Exact Name of Registrant as Specified in Charter)</font></div>

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<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; WIDTH: 38%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3 Park Avenue, 36<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> Floor</font>

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<div style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

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<div style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">[&#160;&#160;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>

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<div style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">[&#160;&#160;] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>

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<div style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">[&#160;&#160;] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>

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<div style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">[&#160;&#160;] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 3.03. Material Modification to Rights of Security Holders.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">On December 8, 2016<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">, C&#298;ON Investment Corporation ("C&#298;ON")</font> further amended and restated its distribution reinvestment plan (the "Fourth Amended DRIP" and, as further amended and restated, the "Fifth Amended DRIP").&#160; The Fifth Amended DRIP will be effective as of, and will first apply to the reinvestment of cash distributions paid on or after, February 1, 2017.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Under the Fourth Amended DRIP, cash distributions to participating shareholders are reinvested in additional shares of common stock of <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">C&#298;ON</font> ("Shares") at a purchase price equal to 90% of the public offering price per Share in effect as of the date of issuance.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Under the Fifth Amended DRIP, cash distributions to participating shareholders will be reinvested in additional Shares at a purchase price that is&#160;equal to the estimated net asset value per Share as of the date of issuance.&#160; No other material terms of the Fourth Amended DRIP have been amended in connection with the Fifth Amended DRIP.</div>

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<div style="TEXT-ALIGN: justify"><font style="WIDTH: 36pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The foregoing description of the Fifth Amended DRIP is a summary only and is qualified in all respects by the provisions of the&#160;Fifth Amended DRIP, a copy of which is attached hereto as Exhibit 4.1 and incorporated by reference herein.</font></div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 8.01. Other Events.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">On December 8, 2016, <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">C&#298;ON</font> amended the terms of its quarterly share repurchase program. The amendments to the share repurchase program will be effective as of <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">C&#298;ON</font>'s quarterly repurchase offer for the fourth quarter of 2016, which commenced on November 18, 2016 and will be completed in January 2017.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Under the existing share repurchase program, <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">C&#298;ON</font> offers to repurchase Shares on a quarterly basis at a price equal to 90% of the public offering price per Share in effect on each date of repurchase. Under the amended share repurchase program, <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">C&#298;ON</font> will offer to repurchase Shares at a repurchase price that is equal to the estimated net asset value per share determined on each date of repurchase.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">C&#298;ON will file </font>an amendment to its tender offer materials for the fourth quarter of 2016 with the Securities and Exchange Commission following the filing of this Current Report on Form 8-K that discloses the foregoing amendment to the quarterly share repurchase program.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Fifth Amended and Restated Distribution Reinvestment Plan of C&#298;ON Investment Corporation.</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: times new roman; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 0pt">Date:</div>
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<td style="TEXT-ALIGN: left; WIDTH: 2.03%; VERTICAL-ALIGN: top">&#160;December 8, 2016</td>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: times new roman; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 0pt">By: <font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-DECORATION: underline">/s/ Michael A. Reisner</font></div>
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<td style="TEXT-ALIGN: left; WIDTH: auto; VERTICAL-ALIGN: top">Co-President and Co-Chief Executive Officer</td>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Fifth Amended and Restated Distribution Reinvestment Plan of C&#298;ON Investment Corporation.</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FIFTH AMENDED AND RESTATED DISTRIBUTION REINVESTMENT PLAN</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">OF</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">C&#298;ON INVESTMENT CORPORATION</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">C&#298;ON Investment Corporation, a Maryland corporation (the "</font><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Corporation</font>"), hereby adopts the following fifth amended and restated distribution reinvestment plan (the "<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Plan</font>"), effective as of February 1, 2017, with respect to distributions declared by its board of directors (the "<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Board</font>") on shares of the Corporation's common stock, $0.001 par value ("<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Common Stock</font>"). The Plan amends and restates in its entirety the Corporation's fourth amended and restated distribution reinvestment plan previously in effect:</div>

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<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">1.&#160;&#160;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Each stockholder of record may enroll in the Plan by providing the Reinvestment Agent (as defined below) with written notice, except that a stockholder may only participate in the Plan, and sales to a stockholder under the Plan may only occur, if the Corporation maintains its registration, or an exemption from registration is available, in the stockholder's state of residence. To enroll in the Plan, such stockholder shall notify the Corporation's reinvestment agent, transfer agent and registrar (collectively the "<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Reinvestment Agent</font>"), in writing so that such notice is received by the Reinvestment Agent no later than the record date fixed by the Board for the distribution involved. If a stockholder elects to enroll in the Plan, all distributions thereafter declared by the Board shall be payable in shares of Common Stock as provided herein, and no action shall be required on such stockholder's part to receive a distribution in Common Stock. If a stockholder wishes to receive its distributions in cash, no action is required.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Subject to the Board's discretion and applicable legal restrictions, the Corporation intends to authorize and declare distributions on a monthly basis and pay such distributions on either a monthly or a quarterly basis or on such other date or dates as may be fixed from time to time by the Board to stockholders of record at the close of business on the record date for the distribution involved.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Corporation shall use newly-issued shares of its Common Stock to implement the Plan. Shares issued pursuant to the Plan will be issued on the same date that the Corporation holds the&#160;last weekly&#160;closing of the month ("<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Last Weekly&#160;Closing</font>") for the sale of shares of Common Stock in connection with the Corporation's continuous offering ("<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Offering</font>") pursuant to its registration statement on Form N-2 (File No. 333-203683) (the "<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Registration Statement</font>"). The number of newly-issued shares of Common Stock to be issued to a stockholder shall be determined by dividing the total dollar amount of the distribution payable to such stockholder by the Issuance Price. The "<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Issuance Price</font>" shall mean a price per share of Common Stock that is <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">equal to the estimated net asset value per share of Common Stock as of the date of issuance</font>. There will be no selling commissions, dealer manager fees or other sales charges on shares of Common Stock issued to a stockholder under the Plan. The Corporation shall pay the Reinvestment Agent's fees under the Plan.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Reinvestment Agent will set up an account for shares of Common Stock acquired pursuant to the Plan for each stockholder who has elected to enroll in the Plan (each a "<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Participant</font>"). The Reinvestment Agent may hold each Participant's shares of Common Stock, together with the shares of Common Stock of other Participants, in non-certificated form in the Reinvestment Agent's name or that of its nominee.</div>
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<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">5.&#160;&#160;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Reinvestment Agent will confirm to each Participant each acquisition made pursuant to the Plan as soon as practicable, but not later than ten (10) business days after the date thereof. Distributions on fractional shares of Common Stock will be credited to each Participant's account. In the event of termination of a Participant's account under the Plan, the Reinvestment Agent will adjust for any such fractional interest in cash at the <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">estimated net asset value per share </font>of the Common Stock at the time of termination.</div>
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<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">6.&#160;&#160;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The shares of Common Stock issued pursuant to the Plan will have the same voting rights as the shares of Common Stock issued pursuant to the Corporation's public offering. The Reinvestment Agent will forward to each Participant any Corporation-related proxy solicitation materials and each Corporation report or other communication to stockholders, and will vote any shares of Common Stock held by it under the Plan in accordance with the instructions set forth on proxies returned by Participants to the Corporation.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">In the event that the Corporation makes available to its stockholders rights to purchase additional shares of Common Stock or other securities, the shares of Common Stock held by the Reinvestment Agent for each Participant under the Plan will be used in calculating the number of rights to be issued to the Participant. Transaction processing may either be curtailed or suspended until completion of any stock dividend, stock split or corporate action.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Reinvestment Agent's service fee, if any, and expenses for administering the Plan will be paid for by the Corporation.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Each Participant may terminate his, her or its account under the Plan by so notifying the Reinvestment Agent via the Corporation's website at www.cioninvestments.com, or by sending the request form to the Reinvestment Agent at DST Systems, Inc,<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"> 430 West 7</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"> Street</font>, Kansas City, Missouri 64105. Such termination will be effective immediately if the Participant's notice is received by the Reinvestment Agent at least two (2) business days prior to any distribution record date; otherwise, such termination will be effective only with respect to any subsequent distribution.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Corporation may terminate the Plan at any time upon written notice to each Participant at least thirty (30) days prior to any record date for the payment of any distributions by the Corporation. Upon any termination, the Reinvestment Agent will credit the Participant's account for the full shares of Common Stock held for the Participant under the Plan and a cash adjustment for any fractional shares of Common Stock to be delivered to the Participant without charge to the Participant. If a Participant elects by his, her or its written notice to the Reinvestment Agent in advance of termination to have the Reinvestment Agent sell part or all of his, her or its shares of Common Stock and remit the proceeds to the Participant, the Reinvestment Agent is authorized to deduct a $15 transaction fee plus a $0.10 per share brokerage commission from the proceeds.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">In addition, the Corporation may amend or supplement the Plan at any time but, except when necessary or appropriate to comply with applicable law or the rules or policies of the Securities and Exchange Commission or any other regulatory authority, only by sending to each Participant appropriate notice at least ten (10) days prior to the effective date thereof. Such notice may be sent electronically to each Participant. The amendment or supplement shall be deemed to be accepted by each Participant unless, prior to the effective date thereof, the Reinvestment Agent receives written notice of the termination of his, her or its account under the Plan. Any such amendment may include changes to the timing and payment of the monthly distribution, an appointment by the Reinvestment Agent in its place and stead of a successor agent under these terms and conditions, with full power and authority to perform all or any of the acts to be performed by the Reinvestment Agent under these terms and conditions, or any other amendments that may be deemed appropriate. Upon any such appointment of any agent for the purpose of receiving dividends and distributions, the Corporation will be authorized to pay to such successor agent, for each Participant's account, all dividends and distributions payable on shares of Common Stock of the Corporation held in the Participant's name or under the Plan for retention or application by such successor agent as provided in these terms and conditions.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Reinvestment Agent will at all times act in good faith and use its best efforts within reasonable limits to ensure its full and timely performance of all services to be performed by it under this Plan and to comply with applicable law, but assumes no responsibility and shall not be liable for loss or damage due to errors, unless such error is caused by the Reinvestment Agent's negligence, bad faith, or willful misconduct or that of its employees or agents.</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">These terms and conditions shall be governed by the laws of the State of Maryland.</div>
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