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Daniel Kochav has been a Partner and the COO for Tenor Capital Management since October 2005 and is a member of the board of directors of Cyrq Energy, Inc., a geothermal resource company, Empower Energies Inc., a C&I Solar Developer, Crystallex International Corporation and a number of investment funds managed by Tenor Capital Management. Previously, at Putnam Lovell NBF Dan was responsible for building hedge fund-related businesses, including incubating the team that formed Tenor. Prior to joining Putnam Lovell NBF, he was a Managing Director at TD Securities in New York responsible for starting up and managing a number of businesses including Convertible Arbitrage, Index Arbitrage, Corporate Equity Derivatives, and a cross-border Structured Private Placement business. Mr.Kochav has been a member of the board of the Managed Funds Association and started his Wall Street career at PaineWebber Inc. where he was a Vice President in the private placements group. Mr. Kochav graduated from M.I.T. Sloan School of Management with a Master of Science in Management in 1985 and from Concordia University in Montreal with a Bachelor of Commerce in 1983. Mr. Kochav is not independent within the meaning of NI 58-101.