On August 19, 2020, Howard Amster announced that upon the resignation of Jeffery Tonkel, Howard Amster was appointed to the Board of Directors of Medley Capital Corporation and the special committee of the Board to serve as a director for the unexpired term of Jeffery Tonkel, and until the next annual meeting of the shareholders in 2021 and the Company has agreed to nominate Howard Amster as a director at the 2021 annual meeting of the shareholders. Howard Amster added that in connection with his appointment to the Board and the special committee, Howard Amster has entered into a standstill agreement with the Company.