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| · | bear      direct responsibility for the appointment, compensation, retention and      oversight of the work of the Company's independent auditors (including      resolution of disagreements between management and the auditor regarding      financial reporting) for the purpose of preparing or issuing an audit      report or performing other audit, review or attest services for the      Company, and the independent auditors must report directly to the      Committee; |
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| · | set      the compensation of the independent auditors, such amount to be paid by      the Company; |
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| · | evaluate      the independence of the Company’s independent auditors and receive the      auditors' specific representations as to their    independence; |
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| · | to      the extent required by applicable law, pre-approve:  (i) all      audit and non-audit services that the Company’s independent auditors      provide to the Company, and (ii) all non-audit services that the Company’s      independent auditors provide to the Company’s investment adviser and any      entity controlling, controlled by, or under common control with the      investment adviser that provides ongoing services to the Company, if the      engagement relates directly to the operations and financial reporting of      the Company; |
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| · | meet with the Company's      independent auditors, including private meetings, as necessary to      (i)  review the arrangements for and scope of the annual audit and      any special audits; (ii)  discuss any matters of concern relating to      the Company's financial statements, including any adjustments to such      statements recommended by the auditors, or other results of the audit;      (iii)  consider the auditor's comments with respect to the Company's      financial policies, procedures and internal accounting controls and      management's responses thereto; and (iv)  review the form of opinion      the auditors propose to render to the Directors or Managers and the      stockholders or members of theCompany; |
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| · | review      reports prepared by the Company’s independent auditors detailing the fees      paid to the Company’s independent auditors for:  (i) audit      services (includes all services necessary to perform an audit, services      provided in connection with statutory and regulatory filings or      engagements and other services generally provided by independent auditors,      such as comfort letters, statutory audits, attest services, consents and      assistance with, and review of, documents filed with the Securities and Exchange      Commission "SEC"); (ii) audit-related services (covers assurance and due      diligence services, including, employee benefit plan audits, due diligence      related to mergers and acquisitions, consultations and audits in      connection with acquisitions, internal control reviews and consultations      concerning financial accounting and reporting standards); (iii) tax      services (services performed by a professional staff in the accounting      firm's tax division, except those services related to the audit, including      tax compliance, tax planning and tax advice); and (iv) other services      (includes financial information systems implementation and      design); |
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| · | ensure      that the Company’s independent auditors prepare and deliver annually to      the Committee a written statement  (the “Auditors’ Statement”)      describing:  (i) the auditors’ internal quality control      procedures; (ii) any material issues raised by the most recent internal      quality control review or peer review of the auditors, or by any inquiry      or investigation by governmental or professional authorities within the      preceding five years respecting one or more independent audits carried our      by the auditors, and any steps taken to deal with any such issues; and      (iii) all relationships between the independent auditors and the Company,      including each non-audit service provided to the Company and the matters      set forth in Independence Standards Board No.1; |
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| · | receive      and review periodic written reports or updates from the Company’s      independent auditors regarding any:  (i) critical accounting      policies to be used; (ii) alternative accounting treatments that have      been discussed with the Company’s management along with a description of      the ramifications of the use of such alternative treatments and the      treatment preferred by the independent auditors; (iii) material      written communications between the auditor and management of the Company;      and (iv) all non-audit services provided to any entity in the Company’s      investment company complex that were not pre-approved by the      Committee; |
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| · | oversee      the Company's internal controls and annual and quarterly or semi-annual      financial reporting process, including results of the annual      audit.  Oversee internal accounting controls relating to the      activities of the Company’s custodian, investment adviser and      administrator through the periodic review of reports, discussions with      appropriate officers and consideration of reviews provided by internal      audit staff; |
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| · | meet      with the Company’s internal auditors (or other personnel responsible for      the internal audit function) following an internal audit of the Company to      discuss significant risks and exposures, if any, to the Company’s risk      management processes and system of internal controls, and the steps taken      to monitor and minimize such risks; |
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| · | review      of any issues brought to the Committee's attention by independent auditors      or the Company's management, including those relating to any deficiencies      in the design or operation of internal controls which could adversely      affect the Company’s ability to record, process, summarize and report      financial data, any material weaknesses in internal controls and any      fraud, whether or not material, that involves management or other      employees who have a significant role in the Company’s internal      controls; |
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| · | review      and evaluate the qualifications, performance and independence of the lead      partner of the Company's independentauditors; |
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| · | require      the Company's independent auditors to report any instance of an audit      partner of those auditors earning or receiving compensation based on that      partner procuring engagements with the Company to provide any services      other than audit, review or attestservices; |
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| · | resolve      any disagreements between the Company’s management and independent      auditors concerning the Company’s financial  reporting; |
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| · | to      the extent there are Directors or Managers who are not members of the      Committee, report its activities to the full Board on a regular basis and      make such recommendations with respect to the above and other matters as      the Committee may deem necessary orappropriate; |
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| · | review      the Committee’s charter at least annually and recommend any material      changes to the Board; and |
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| · | review      such other matters as may be appropriately delegated to the Committee by      the Board. |
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