Eric J. Draut(2)
has a capital commitment of $750,000 in Tennenbaum Opportunities Fund VI, LLC
, a fund advised by the Advisor.
The 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 its affiliates, other than their positions as Directors of the Company and other than, if applicable, investments in us or other private funds managed by the Advisor that are on the same terms as those of other stockholders and investors.
Eric J. Draut
2951 28th Street,
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 Executive 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 September 2013, Mr. Draut was a Director of Intermec, Inc., where he served as Chairman of the Audit Committee.
2 RICs consisting of 1 Portfolio
Eric J. Draut: Mr. Draut is a Director, Chairman of the Company’s 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.
Mr. Draut recently completed a twenty year career at Kemper Corporation (formerly Unitrin, Inc.) 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 Kemper Corporation as Group Executive, Treasurer and Corporate Controller.
Prior to joining Kemper Corporation, 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.
Until September 2013 Mr. Draut served as a Director and Chairman of the audit committee of Intermec.
Mr. Draut volunteers with Lutheran Social Services of Illinois where he currently serves as Executive Chairman of the Board of Directors and recently served as Treasurer of its Board of Directors.
is also a National Association of Corporate Directors Fellow
Mr. Draut’s knowledge of financial and accounting matters, and his independence from the Company and the Advisor, qualifies him to serve as the Chairman of the Company’s Audit Committee.