On December 19, 2012, the board of directors of Network-1 Security Solutions Inc. elected Niv Harizman and Allison Hoffman as members of the board of directors. Mr. Harizman and Ms. Hoffman will serve as directors until their respective successors shall have been duly elected and qualified or until their respective earlier resignation or removal. Niv Harizman, age 48, is a Managing Member of Tyto Capital Partners LLC, a position he has held since August 2010.

Allison Hoffman, age 42, has been providing legal services on a consulting basis since December 2012. From June 1999 to September 2012, Ms. Hoffman was employed by ALM Media LLC as Senior Vice President, Chief Legal Officer and Secretary (January 2007 September 2012), Vice President, General Counsel and Secretary (August 2001 to December 2006) and Assistant General Counsel (June 1999 July 2001).