WhiteHorse Finance Inc

Compensation of Chief Executive Officer and Other Executive Officers

None of our officers receives direct compensation from us. An allocable portion of the compensation of our chief financial officer and our chief compliance officer is paid by WhiteHorse Administration, subject to reimbursement by us of an allocable portion of such compensation for services rendered by them to us. To the extent that our administrator outsources any of its functions, we pay the fees associated with such functions on a direct basis without profit to the administrator.

Compensation Committee Interlocks and Insider Participation

The current members of the Compensation Committee are Messrs. Frier, Puckett and Smith. All members of the Compensation Committee are independent directors and none of the members is a present or past employee of the Company. No member of the Compensation Committee: (i) has had any relationship with the Company requiring disclosure under Item 404 of Regulation S-K under the Exchange Act; or (ii) is an executive officer of another entity, at which one of our executive officers serves on the board.

Compensation Committee Report

Currently none of our executive officers are compensated by us and, as a result, the Compensation Committee does not produce and/or review a report on executive compensation practices.

Compensation of Directors

Beginning on November 10, 2022, the Independent Directors will each receive an annual fee of $102,500. Prior to November 10, 2022, the Independent Directors each received an annual fee of $100,000.

Beginning on November 10, 2022, the chairman of the audit committee receives an annual fee of $15,000 and the chairman of each other committee of the board of directors receives an annual fee of $10,000 for their additional services in these capacities. In addition, we have purchased directors’ and officers’ liability insurance on behalf of our directors and officers. Prior to November 10, 2022, The Independent Directors also receive reasonable out-of-pocket expenses relating to attendance at in-person meetings. In addition, the chairman of the audit committee received an annual fee of $10,000 and the chairman of each other committee of the board of directors received an annual fee of $5,000 for their additional services in these capacities.

The following table shows information regarding the compensation earned by our directors (excluding any reimbursed out-of-pocket expenses relating to attendance at in-person meetings) for the fiscal year ended December 31, 2023. No compensation is paid by us to any interested director or executive officer of WhiteHorse Finance.