] Aggregate Principal Amount Senior Notes due 20[ ] UNDERWRITING AGREEMENTUnderwriting Agreement • October 3rd, 2012 • KCAP Financial, Inc. • New York
KCAP Financial, Inc., a Delaware corporation (the “Company”), confirms its agreement with Stifel, Nicolaus & Company, Incorporated and each of the other Underwriters named in Schedule A hereto (collectively, the “Underwriters”, which term shall also include any underwriter substituted as hereinafter provided in Section 9 hereof), for whom Stifel, Nicolaus & Company, Incorporated is acting as representative (in such capacity, the “Representative”), with respect to the issue and sale by the Company and the purchase by the Underwriters, acting severally and not jointly, of $[ ] aggregate principal amount of senior notes due 20[ ] (the “Securities”) of the Company, and with respect to the grant by the Company to the Underwriters, acting severally and not jointly, of the option described in Section 2(b) hereof to purchase additional Securities (as hereinafter defined). The Securities will be issued under an indenture dated as of [ ], 2012, between the Company and U.S. Bank National Associat
