Eric J. Draut(2)
has a capital commitment of $750,000 in Tennenbaum Opportunities Fund VI, LLC
, a fund advised by the Advisor.
Each Board of Directors, in connection with the 1940 Act and NASDAQ rules, as applicable, has considered the independence of members of the Board of Directors who are not employed by the Advisor and has concluded that Eric J. Draut
, Franklin R. Johnson and Peter E. Schwab (the “independent directors”) are not “interested persons” as defined by the 1940 Act and therefore qualify as independent directors under the standards promulgated by the 1940 Act and the NASDAQ rules.
, Johnson and Schwab
had no relationships with the Advisor or any of
Eric J. Draut
2951 28th Street, Suite 1000 Santa Monica, California 90405
From 2001 to 2010 Mr. Draut was Executive Vice President, Chief Financial Officer and a Director of Unitrin Inc. (renamed Kemper Corporation in 2011).
From 2006 to 2008, he was Treasurer and Director of Lutheran Social Services of Illinois.
From 2008 to 2010 and again from 2012 to present, Mr. Draut was and is Chairman of the Board of Lutheran Social Services of Illinois.
From 2007 to 2008, Mr. Draut was Co-Chair of the Finance Committee of the Executive Club of Chicago.
From 2004 to 2012, Mr. Draut was a member of the Steering Committee for the Office of Risk Management and Insurance Research at the University of Illinois at Urbana-Champaign.
Also, from 2008 to present, Mr. Draut has been a Director of Intermec, Inc., where he currently also serves as Chairman of the Audit Committee.
Eric J. Draut: Mr. Draut is a Director, Chairman of the Funds' Audit Committee, member of the Governance Committee and member of the Joint Transactions Committee.
The Board benefits from Mr. Draut's
nearly thirty year career in accounting and finance.
Mr. Draut recently completed a twenty year career at Unitrin, Inc. (renamed Kemper Corporation in 2011) in 2010, serving the last nine years as Executive Vice President, Chief Financial Officer and a member of its board of directors.
Mr. Draut also held positions at Unitrin, Inc. as Group Executive, Treasurer and Corporate Controller.
currently owns 9.9% of the TCPC's common shares outstanding.
Prior to joining Unitrin, Inc., Mr. Draut was Assistant Corporate Controller at Duchossois Industries, Inc. and at AM International, Inc.
Mr. Draut began his career at Coopers and Lybrand.
Mr. Draut is a Certified Public Accountant, received an M.B.A. in finance and operations from J.L. Kellogg Graduate School of Management at Northwestern University and a B.S. in accountancy from the University of Illinois at Urbana-Champaign, graduating with High Honors.
Mr. Draut currently serves as a Director and Chairman of the audit committee of Intermec, and volunteers with Lutheran Social Services of Illinois where he currently serves as Chairman of the Board of Directors and recently served as Treasurer of its Board of Directors.
Mr. Draut's knowledge of financial and accounting matters, and his independence from the Funds and the Advisor, qualifies him to serve as Chairman of the Funds' Audit Committee.