On December 31, 2015, Leonard M. Tannenbaum disclosed that he delivered a letter to Fifth Street Senior Floating Rate Corp. stating that he intends to present the following proposals to stockholders at the Company's 2016 annual meeting (i) the nomination of 2 candidates for election to the Board, (ii) a binding proposal to terminate the Investment Advisory Agreement between the Company and Fifth Street Management LLC (FSM) and (iii) an advisory proposal, if the proposal to terminate the Investment Advisory Agreement is successful, advising the Board that none of FSM or any of its principals or other affiliates should be engaged to manage or advise any of the assets of the Company in any capacity.