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Mr. Haugen was elected as the lead director in October 2011. He has been an active financier since 1990, leading teams investing over $5 billion in various companies and portfolios of distressed consumer, real estate, and residential assets in the U.S. and internationally. Mr. Haugen was a founding Senior Partner of CarVal Investors, a Value Fund with more than $10 billion in assets under management when he left in 2008. Since that time, Mr. Haugen has invested in and provided consulting advice to several early-stage companies, including the company.

Mr. Haugen previously served on the Board of Capital Partners Funding Group, Inc., a U.S. business and financial consulting company whose mission is to provide clients with long-term capital funding solutions using very sophisticated financial programs that utilize various tax-advantaged insurance products. Mr. Haugen received his Masters of Management from the J.L Kellogg Graduate School of Management at Northwestern University in 1990 with concentrations in Finance, Marketing, International Business, and Organizational Behavior. Prior to graduate school, Mr. Haugen was a Senior Accountant with KPMG Peat Marwick in Minneapolis after obtaining his Bachelor of Science in Business Administration at Boston University in 1985.